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PUMA.V ·

PUMA Exploration Strategically Increases Its Land Holdings at the Williams Brook GOLD Project

Mergers & Acquisitions Property Options & Staking

PUMA TSXV

175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com

PRESS RELEASE

PUMA EXPLORATION STRATEGICALLY INCREASES ITS LAND HOLDINGS

AT THE WILLIAMS BROOK GOLD PROJECT

Rimouski, February 23, 2023 – Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or

"Puma") is pleased to report that it has staked another 105 claims (2,300 ha) contiguous to its Williams

Brook South property that now totals 8,290 ha (see Figure 1). The newly staked claims have seen very

little exploration in the past. Still, they are highly prospective for gold mineralization as they exhibit the

same geology as the Lynx Gold Zone.

Figure 1: Puma's assets in Northern New Brunswick

PUMA TSXV

175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com

Puma continues to secure land to increase the size of its Williams Brook Gold Project, which includes

the flagship Williams Brook property, as well as the Williams Brook South, Jonpol, Portage, and Jacquet

River properties. " These new land additions further consolidate our extensive ground position and

increase our overall footprint in Northern Ne w Brunswick. Puma now controls 100% of 50,000 ha of

highly prospective and underexplored assets in what is now recognized as an emerging Gold District.

We are committed to building a gold camp at Williams Brook project, and we'll continue to seize

every opportunity to acquire ground that could increase our gold inventory," stated Marcel Robillard,

President and CEO of Puma Exploration.

The new claims host felsic volcanic units in contact with sediments similar to the rocks that host the

Lynx Gold Zone (see Figure 2). Very little fieldwork has ever been conducted on the new claims. Puma

will proceed with detailed data compilation before applying its successful exploration method to the

area.

Figure 2: Felsic volcanic units covered by the new claims

PUMA TSXV

175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com

UPCOMING GOLD INVESTOR EVENTS

Puma invites shareholders and interested parties to stop by the booth, attend a presentation, or

schedule a meeting at the upcoming conferences to discuss the Company's recent news and

proposed developments:

• Prospector and Developers Association Conference (PDAC) in Toronto

Booth IE2152

March 5-8, 2023

www.pdac.ca/convention

Corporate Presentation Forum for Investors

Marcel Robillard, President, and CEO will be presenting

March 7 at 10:14 am

Session Gold 1, Room 801A

Precious metals Summit PDAC meeting program

March 7-8, 2023

www.precioussummit.com/event/pdac-2023-one-on-one-meeting-program/

Atlantic Edge Mining Investment Event

Ballroom A, Intercontinental Hotel

225 Front Street, Toronto

March 7, 2023

Mia Boiridy, Head of Investor Relations and Corporate Development will be presenting

To register click here Canada's Atlantic Edge Mining Investment Event (PDAC) Toronto 2023

Tickets, Tue, 7 Mar 2023 at 8:30 AM | Eventbrite

• Swiss Mining Institute Conference in Zurich

March 21 -22, 2023

swissmininginstitute.ch/program -march-2023/

• Deutsche Goldmesse in Frankfurt

May 5-6, 2023

deutschegoldmesse.online/2023 -spring -companies/

PUMA TSXV

175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com

ABOUT THE WILLIAMS BROOK GOLD PROJECT

Puma's flagship Williams Brook Gold Project covers more than 50,000 ha in Northern New Brunswick,

an established and mining -friendly jurisdiction, near paved roads and with excellent infrastructure

nearby. Since 2021, Puma has made four (4) significant gold discoveries at Williams Brook, with high-

grade gold mineralization hosted in quartz veins at surface. An aggressive exploration program is

planned for 2023, including a minimum of 6,000 m of drilling and a 4,000 T bulk sample.

QUALIFIED PERSON

Dominique Gagné, PGeo, a qualified person as defined by Canadian National Instrument 43 -101

standards, has reviewed and approved the geological information reported in this news release

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian -based mineral exploration company with precious metals projects

near New Brunswick, Canada's Famous Bathurst Mining Camp ("BMC") . The Company is committed

to deploy ing its DEAR strategy ( Development, Exploration, Acquisition and Royalties) to generate

maximum value for shareholders with low shares dilution.

Connect with us on Facebook / Twitter / LinkedIn

Visit www.explorationpuma.com for more information or contact:

Marcel Robillard, President and CEO, (418) 750-8510;

[email protected]

Mia Boiridy, Head of Investor Relations and Corporate Development, (250) 575-3305;

[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) acc ept responsibility for the adequacy or accuracy of this

release.

Forward-Looking Statements: This press release may contain forward -looking statements. Such

forward-looking statements involve a number of known and unknown risks, uncertainties and other

factors which may cause Puma's actual results, performance or achievements to be materially

different from actual future results and achievements expressed or implied by such forward -looking

statements. Readers are cautioned not to place undue reliance on these forward -looking

statements, which speak only as of the date the statements were made, except as required by law.

Puma undertakes no obligation to publicly update or revise any forward -looking statements. These

risks and uncertainties are described in the quarterly and annual reports and in the documents

submitted to the securities administration.