Puma Increases the High-Grade Gold Footprint of the Lynx Gold Zone and Extends it at Depth
News Release
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Puma Increases the High-Grade Gold Footprint of
the Lynx Gold Zone and Extends it at Depth
• Hole WB23-139 intersected 63.05 m at 2.49 g/t gold, including two (2) high-grade gold intervals of
37.40 g/t gold over 2.50 m and 21.66 g/t gold over 2.55 m.
• 2.06 g/t gold over 5.20 m was intercepted at 215 m downhole (WB23-139)- the deepest
occurrence of gold to date.
• Lower-grade gold envelopes of 0.49 g/t to 0.67 g/t gold over 22.80 to 30.95 m surround the
higher-grade gold shoots.
• The Moose area shows consistent gold mineralization at surface with hole WB23-136 grading
30.90 m of 1.10 g/t gold.
• Drill core samples with visible gold (“VG”) returned 137.0 g/t gold over 0.60 m (WB23-139), 96.0
g/t gold over 0.45 m (WB23-139), 63.6 g/t gold over 0.30 m (WB23-136), 16.85 g/t gold over
0.79 m (WB23-137).
Rimouski, October 31, 2023– Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the “Company” or
“Puma”) is pleased to announce the results of another seven (7) holes of its 2023 drilling program at its 100%-
owned Williams Brook Gold Project with high grades intercepts and long gold mineralized sections.
Hole WB23-139 intersected two (2) high-grade gold intervals of 37.40 g/t gold over 2.50 m and 21.66
g/t gold over 2.55 m (Figure 1) within a 63.05 m intercept grading 2.49 g/t gold from 89.95 to 153.00 m.
The same hole intersected another gold intersection of 2.06 g/t gold over 5.20 m at 215 m downhole depth.
With these new gold intersections, the Lynx Gold Zone (“LGZ”) has been extended to approximately 150 m
vertical depth (Figure 2), further highlighting the potential for significant depth extension.
Today’s results have also increased the continuity of the high-grade gold at surface with an intersection of
30.90 m grading 1.10 g/t gold in WB23-136 and 5.00 m of 2.79 g/t gold in WB23-137 starting at 8 m
and 2 m below surface respectively.
Puma’s President and CEO Marcel Robillard commented, “Our 2023 drilling continues to deliver robust gold
results and highlights the potential scale and calibre of the Williams Brook Gold Project. All drill holes reported
in this release successfully intersected the quartz-bearing structures and new gold mineralization. Hole WB23-
139 returned the second longest high -grade gold interval of all the holes drilled with 165.55 gram-metres
gold. That same hole also hit gold at 215 m depth in a previously untested area, indicating there is significant
depth and lateral expansion potential here, and we will continue to apply our proven exploration model to
build the gold inventory and volume at Lynx.”
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Figure 1. High-grade gold quartz-vein from WB23-139 (37.40 g/t Au over 2.50 m @ 149.50 m)
Figure 2. Cross-section of Lynx gold area with today’s reported results
Figure 3. Core from hole WB23-139 (37.40 g/t over 2.50 m)
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Results Discussion
Lower-grade gold envelop surrounding high-grade gold shoots
All seven (7) holes reported today were drilled to intersect the previously identified high-grade gold shoots
starting from surface. The gold in the high-grade quartz veins generally occurs as free gold with associated
sulphides in altered rock. Many drill holes intersected lower -grade mineralized envelopes adjacent to and
between the higher-grade gold veins.
Highlights include:
• 0.59 g/t gold over 30.85 m from 30.85 to 61.80 m downhole (WB23-133)
• 1.10 g/t gold over 30.90 m from 8.30 to 39.20 m downhole (WB23-136)
• 0.67 g/t gold over 30.95 m from 2.71 to 33.66 m downhole (WB23-137)
• 0.49 g/t gold over 22.80 m from 124.20 to 147.00 m downhole (WB23-138)
• 2.49 g/t gold over 63,05 m from 89.95 to 153.00 m downhole (WB23-139)
• 1.10 g/t gold over 150.50 m from 6.50 to 157.00 m downhole (WB23-139)
These lower-grade envelopes emphasize the continuity of the mineralization at Lynx. They will be targeted
for future drilling as they indicate that this round of drilling may have missed the higher -grade core.
Nevertheless, their presence is significant as it builds volume and will positively impact the mineral resource
estimation of the deposit.
Moose area surface intercepts
Holes originating at the Moose area targeted the depth continuity of the high-grade gold shoots and also
intersected mineralized quartz veins at surface (0-40 m).
Highlights include:
• 1.36 g/t gold over 5.90 m from 32.10 to 38.00 m downhole (WB23-133)
• 1.10 g/t gold over 30.90 m from 8.30 to 39.20 m downhole (WB23-136)
• 0.67 g/t gold over 30.95 m from 2.71 to 33,66 m downhole (WB23-137)
• 1.63 g/t gold over 3.70 m from 32.10 to 35.80 downhole (WB23-138)
• 2.01 g/t gold over 3.00 m from 7.35 to 10.35 m downhole (WB23-139)
• 1.10 g/t gold over 150.50 m from 6.50 to 157.00 m downhole (WB23-139)
Additional Results Pending
The remaining six (6) holes (1,105 m) of the 2023 drilling program tested the NE extension of the mineralized
corridor at depth and intersected visible gold. Assay results are pending and will be released once received.
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Figure 4. Drill holes location at the Lynx Gold Zone
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Table 1. Assay results for holes WB23-133 to -139
DDH # From (m) To (m) Length*
(m) Au (g/t)
WB23-133 30.95 61.80 30.85 0.59
32.10 50.70 18.60 0.74
32.10 38.00 5.90 1.36
INDIVIDUAL SAMPLES IN WB23-133
32.10 32.65 0.55 10.65
37.40 38.00 0.60 3.24
49.00 49.35 0.35 4.33
50.20 50.70 0.50 8.25
60.15 60.90 0.75 5.18
WB23-136 8.30 39.20 30.90 1.10
Incl. 8.30 11.40 3.10 3.93
and 37.15 41.00 3.85 5.55
Incl. 37.15 39.20 2.05 10.38
and 37.55 37.85 0.30 63.40
WB23-137 2.71 33.66 30.95 0.67
Incl. 2.71 5.50 2.79 5.00
Incl. 2.71 3.50 0.79 16.85
and 33.30 38.90 5.60 0.96
Incl. 33.30 33.66 0.36 14.25
WB23-138 32.10 35.80 3.70 1.63
and 124.20 147.00 22.80 0.49
INDIVIDUAL SAMPLESS IN WB23-138
107.08 107.65 0.57 1.28
124.20 124.70 0.50 2.63
133.65 136.80 3.15 1.02
139.30 141.95 2.65 1.53
144.70 145.50 0.80 1.20
146.00 147.00 1.00 1.05
175.75 176.10 0.35 7.42
WB23-139 6.50 157.00 150.50 1.10
incl. 7.35 10.35 3.00 2.01
and 89.95 153.00 63.05 2.49
incl. 89.95 92.50 2.55 21.66
and 134.60 153.00 18.40 5.51
incl. 149.50 153.00 3.50 27.33
and 210.40 215.60 5.20 2.06
*Interval widths reported; true widths of the system are not yet known.
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2023 Drilling Program
Drilling focused on the Lynx and Moose areas of the LGZ (Figure 3). It was designed to:
1) confirm and extend high-grade gold mineralization at depth and along strike;
2) target, along the favourable contact, specific veins previously mapped at the surface with different drilling
orientations to better define the veins’ geometry;
3) update the Company’s structural model.
The program expanded from fifteen (15) to twenty-four (24) holes as Puma successfully intercepted the depth
extensions of the high -grade shoots defined by previous drilling programs and intersected at depth along
the newly identified orientation, the bonanza-grade quartz veins sampled at surface.
Most of the holes drilled show pervasive sericitization, but visible gold and associated potential bonanza -
grade veins appear to be linked to the presence of carbonate alteration (dolomite) and Py -Cpy-Ga-Sp
sulphide assemblages that occur as disseminated massive sulph ides or as semi-massive veinlets within the
quartz veins.
Table 2. Coordinates of drill holes
DDH # Station Easting
(m)*
Northing
(m)*
Elevation
(m) Azimuth (°) Dip (°) Length (m)
WB23-133 L310E 660336 5259560 387 202 -45 107.30
WB23-134 L290E 660312 5259564 388 155 -65 122.00
WB23-135 L290E 660335 5259521 387 335 -55 100.00
WB23-136 L300E 660350 5259505 386 295 -55 92.00
WB23-137 L320E 660371 5259519 386 295 -50 87.00
WB23-138 L310E 660362 5259507 385 260 -45 257.00
WB23-139 L290E 660361 5259481 386 260 -45 230.00
* Projection: UTM Nad83 zone 19 Total: 995.30
Upcoming Gold Investor Events
Puma invites shareholders and interested parties to schedule a meeting at the upcoming conferences to
discuss the Company's recent news and proposed developments. Click on the links to register.
• Explor 2023. Montreal. QC
Oct 30 – Nov. 2. 2023
Marcel Robillard will present on Nov. 1 at 3:40 p.m. Click here for details.
• Precious Metals Summit. Zurich. CH
Nov.13-15. 2023
Marcel Robillard will present on Nov. 14 at 12:15 p.m. Click here for details.
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• 121 Mining Investment London. UK
November 20-21. 2023
About the Williams Brook Gold Project
Puma's flagship Williams Brook Gold Project comprises four properties covering more than 60,000 ha in
Northern New Brunswick—an established and mining-friendly jurisdiction near paved roads and with excellent
infrastructure nearby. The land package is located near the Rocky Brook Millstream Fault (“RBMF”) , a major
regional structure formed during the Appalachian Orogeny and a significant control for gold deposition in
the region.
Since 2021. and with less than C$10M of exploration investment. Puma has made multiple gold discoveries
at the Williams Brook property and believes that the property hosts an extensive orogenic/epithermal gold
system. Puma’s ongoing exploration programs are focused on building a gold camp in Northern New
Brunswick.
Figure 5. Main gold showings and occurrences at the Williams Brook Gold Project
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Qualified Person
The technical information of this release was reviewed and approved by Dominique Gagne . PGeo. a
consultant of Puma and a qualified person as defined by the National Instrument 43 -101 - Standards of
Disclosure for Mineral Projects.
On-Site Quality Assurance/Quality Control (“QA/QC”) Measures
Drill cores are bagged, sealed and sent to ALS CHEMEX in Moncton, New Brunswick, where each sample is
crushed and pulped before being fire -assayed (Au -ICP21). The remaining coarse reject portions of the
samples remain in storage for further work or verification as needed. As part of its QA/QC program , the
Company inserts external gold standards (low to high grade) and blanks every 20 samples in addition to
standards, blanks, and duplicates. All samples over 10 g/t gold or with abundant visible gold are analyzed
with a gravity finish (Au -GRA22). Check assays are routinely performed for samples with visib le gold to
ascertain the gold content of the mineralization zone.
About Puma Exploration
Puma Exploration is a Canadian -based mineral exploration company with precious metals projects in New
Brunswick, near Canada's Famous Bathurst Mining Camp ("BMC"). Puma has a long history in Northern New
Brunswick, having worked on regional projects for over 15 years. As a first mover, the Company quickly and
strategically accumulated an impressive portfolio of prospective gold landholdings in the area. Puma’s
successful exploration methodology combines old prospecting methods with detailed trenching and up-to-
date technology such as Artificial Intelligence (“AI”) to facilitate an understanding of the geology and
associated mineralized systems. Armed with geophysical surveys, geochemical data and consultants’
expertise, Puma has developed a perfect low -cost exploration tool to discover gold at shallow depths and
maximize drilling results.
The Company is also committed to deploying its DEAR strategy (Development. Exploration. Acquisition. and
Royalties) to generate maximum value for shareholders with low share dilution.
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Visit www.explorationpuma.com for more information or contact:
Marcel Robillard. President and CEO. (418) 750-8510;