Puma Intersects 20.67 g/t Gold over 5.50 m within 32.15 m of 3.80 g/t Gold at the Lynx Gold Zone
News Release
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Puma Intersects 20.67 g/t Gold over 5.50 m
within 32.15 m of 3.80 g/t Gold
at the Lynx Gold Zone
• New high-grade gold veins were intercepted with 20.67 g/t gold over 5.50 m, within 32.15 m
of 3.80 g/t gold in WB23-142, and 10.81 g/t gold over 5.65 m and 9.91 g/t gold over 5.10
m within 98.05 m of 1.24 g/t gold in WB23-145.
• Holes WB23-140, -142, -144 and -145 demonstrate the continuity of gold mineralization at Lynx ,
with mineralized envelopes extending over impressive lengths grading respectively 0.92 g/t gold
over 43.70 m, 1.25 g/t gold over 100.90 m, 0.95 g/t gold over 25.60 m and 1.24 g/t gold
over 98.05 m.
• Hole WB23-140 returned 4.06 g/t gold over 3.25 m from 155 m , WB23-144 returned 6.60
g/t gold over 3.25 m from 158 m, and WB23-145 returned 1.01 g/t gold over 3.00 m from
246 m expanding the known mineralization at depth and opening another area of gold
mineralization.
Rimouski, November 16, 2023– Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the “Company” or
“Puma”) is pleased to announce the results of the last six (6) holes of its 2023 first phase drilling program at
its 100%-owned Williams Brook Gold Project. All holes reported today successfully intersected the targeted
favourable contact and a series of quartz veins and stockwork with gold mineralization. Drilling also extended
the width and length of the high -grade gold shoots identified previously at Lynx and demonstrated the
continuity of mineralization over long intervals (Figures 1 and 2).
Additional high-grade gold shoots were intercepted underneath the high-grade gold veins sampled at
surface, confirming our model of multiple stacked veins extending at depth. The gold shoots have now been
confirmed to extend downhole to at least 250 m and over a strike length of at least 400 m. Of particular
interest, a group of high-grade gold veins assayed 20.67 g/t gold over 5.50 m within a large section of
32.15 m grading 3.80 g/t gold in WB23-142, and also in WB23-145 where a section of 5.65 m returned
10.81 g/t gold and another graded 9.91 g/t gold over 5.10 m, within a broad intersection of 98.05 m at
1.24 g/t gold.
The gold mineralization at Lynx extends both laterally and at depth over impressive lengths, such as 100.90
m of 1.25 g/t gold in WB23 -142 and 98.05 m of 1.24 g/t gold in WB23 -145. These long intervals
emphasize the continuity of the mineralization and indicate that gold is present outside the core of the high-
grade gold shoots. This is good news for potential open pit mining scenarios and will positively impact the
mineral resource estimation of the deposit.
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Figure 1. Cross-section of Lynx gold area with today’s reported results
Hole WB23-140 intersected 6.70 m of 2.44 g/t gold starting at surface, followed by several high -grade
intervals such as 3.95 m of 5.44 g/t gold and 3.25 m of 4.06 g/t gold at depth. Hole WB23-144 returned
6.60 g/t gold over 3.25 m from 158 m, and WB23-145 returned 1.01 g/t gold over 3.00 m from 246 m.
Gold mineralization was still present at 249 m downhole depth, indicating that the system remains
open. Today’s results expand the already wide distribution of the high-grade gold shoots, with mineralized
intervals beginning at or near surface.
Puma’s President and CEO Marcel Robillard commented, “ This latest set of results adds considerable scale
and volume to the Lynx Gold Zone, which remains open along strike and at depth. Drilling shows impressive
continuity downhole and between drill holes. We see similar geology, alteration, structural characteristics,
geochemistry, and stacking of high -grade gold veins in all drill holes. Our recent fieldwork shows that some
of the same attributes characterize the Tiger Gold Zone, located 350 m away. The po tential for a sizeable
kilometre-wide and deep system, similar to Fosterville, is possible here, and we’ll continue to expand the zone
with our ongoing exploration program.”
”The first phase of our 2023 drilling campaign was a huge success , with many intersections showing metal
factors exceeding 10 and up to 1 65, proving the robustness of the gold system. The drill rig is now being
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mobilized, and our technical team is excited to test new targets at Lynx, at depth and along strike with the
second phase of our 2023 drilling program.” added Réjean Gosselin, Puma’s Executive Chairman.
Figure 2. Pictures of Bonanza gold-grade core samples
Lynx Gold Zone Depositional Model
Samples of drill core with very high-grade gold veins were sent t o an external consultant for petrographic
(thin section) analysis to help characterize the gold system at the LGZ. The samples were also sent for
additional XRF whole-rock geochemical analysis. Most of the holes drilled show pervasive sericitization with
pyrite, tetrahedrite, sphalerite, galena, minor chalcopyrite, and malachite. Visible gold and associated
potential bonanza-grade veins appear to be linked to the presence of carbonate alteration with elevated
silver, bismuth, and base metals values (Cu-Pb-Zn).
A detailed mapping study in collaboration with Terrane Geoscience’s structural experts also indicates that
the g old mineralization at the LGZ is associated with and controlled by extensional veins and breccias
arranged in a ladder pattern.
The favourable contact at the LGZ appears to have acted as a major plumbing zone between sediment
(turbidite) and felsic volcanic (rhyolite), with gold veins developing within the turbidite itself in contrast to the
surrounding rock.
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Dr. Gregg Morrison, a leading expert on intrusion -related, porphyry and epithermal gold systems, has
reviewed the geology and classified rock and core samples of the Lynx Gold Zone for their texture,
mineralogy, and multi -element geochemistry. He stated: “ I believe Williams Brook is part of the same
family of gold systems as Fosterville and Sunday Creek in Australia and Valentine Lake in
Newfoundland. These other deposits are known for their structure -controlled mineralization, metal zoning,
free gold in bonanza shoots and kilometre scale depth extent. The similarities to these more comprehensively
explored deposits gives real confidence to deeper drilling in the Lynx Zone and continued exploration around
the feeder structures in the Williams Brook District’’.
Figure 3: Location of 2023 drill holes
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Table 1. Assay results for holes WB23-140 to 145
DDH # From (m) To (m) Length (m) Au (g/t)
WB23-140 3.30 159.15 155.85 0.42
incl, 3.30 10.00 6.70 2.44
incl, 4.00 7.00 3.00 5.21
and 49.25 53.40 4.15 0.44
and 85.90 86.50 0.60 1.76
and 115.00 158.70 43.70 0.92
incl, 115.00 133.30 18.30 1.43
incl, 129.35 133.30 3.95 5.44
incl, 129.35 130.25 0.90 21.50
and 155.45 158.70 3.25 4.06
incl, 155.45 156.45 1.00 10.75
and 180.00 181.40 1.40 1.20
WB23-141 79.70 84.30 4.60 0.30
WB23-142 36.10 137.00 100.90 1.25
incl, 58.85 91.00 32.15 3.80
incl, 58.85 82.00 23.15 5.15
incl, 58.85 69.30 10.45 11.21
incl, 58.85 64.35 5.50 20.67
and 67.50 69.30 1.80 1.86
and 80.25 82.00 1.75 0.93
and 90.70 91.00 0.30 9.61
and 136.45 137.00 0.55 1.24
WB23-143 INDIVIDUAL SAMPLE IN WB23-143
48.40 49.30 0.90 1.22
77.00 77.85 0.85 2.44
94.45 95.00 0.55 16.05
WB23-144 72.85 178.60 105.75 0.32
incl, 72.85 76.85 4.00 2.32
and 72.85 73.65 0.80 6.88
and 76.25 76.85 0.60 6.16
and 153.00 178.60 25.60 0.95
incl, 153.00 162.05 9.05 2.55
incl, 158.80 162.05 3.25 6.60
incl, 161.50 162.05 0.55 38.10
and 177.65 178.60 0.95 1.12
WB23-145 79.85 251.00 171.15 0.74
incl, 79.85 177.90 98.05 1.24
incl, 80.35 109.25 28.90 2.26
incl, 79.85 88.85 9.00 6.87
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incl, 80.35 86.00 5.65 10.81
incl, 80.75 83.00 2.25 25.23
and 105.30 107.80 2.50 1.41
and 158.45 178.60 20.15 2.73
incl, 169.65 174.75 5.10 9.91
incl, 171.85 174.75 2.90 16.38
and 246.00 249.00 3.00 1.01
All interval widths reported are along the core axis; true widths of the system are unknown.
Table 2. Coordinates of drill holes
DDH # Station Easting (m)* Northing (m)* Elevation (m) Azimuth (°) Dip (°) Length (m)
WB23-140 L270E 660343 5259458 387 260 -45 218
WB23-141 L270E 660343 5259458 387 330 -45 178
WB23-142 L180E 660287 5259359 388 338 -46 236
WB23-143 L340E 660351 5259599 386 202 -45 101
WB23-144 L350E 660388 5259550 386 260 -46 197
WB23-145 L250E 660335 5259430 388 260 -46 275
* Projection: UTM Nad83 zone 19 Total: 1,205
Webinar
Puma invites shareholders and other interested parties to participate in a webinar on Thursday, November
23, 2023, at 4:00 pm EST. Marcel Robillard, President and CEO, will provide an overview of the Company’s
latest developments and answer questions.
Click on the following link https://us06web.zoom.us/webinar/register/WN_mH1EVDqhQuqztP3umo0N2Q
to register. After registering, you will receive a confirmation email containing information about joining the
webinar.
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.
• 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
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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$12M of exploration investment. Puma has made multiple gold discoveries
at the Williams Brook property and believes that the property hosts an extensive orogenic gold system.
Puma’s ongoing exploration programs are focused on building a gold camp in Northern New Brunswick ,
Canada.
Figure 4. Main gold showings and occurrences at the Williams Brook Gold Project
Qualified Person
The technical information of this release was reviewed and approved by Dominique Gagne , P.Geo. a
consultant of Puma and a qualified person as defined by the National Instrument 43 -101 - Standards of
Disclosure for Mineral Projects.
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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 visible 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.
Connect with us on Facebook / X/ LinkedIn.
Visit www.explorationpuma.com for more information or contact:
Marcel Robillard. President and CEO. (418) 750-8510;
Mia Boiridy. Head of Investor Relations and Corporate Development. (250) 575-3305;
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.