Puma Samples 72 g/t Au at New Lion Gold Zone on Williams Brook Property
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Puma Samples 72 g/t Au at New Lion Gold Zone
on Williams Brook Property
Rimouski, July 24, 2024—Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or
"Puma") is pleased to report surface sampling results from its ongoing 2024 exploration program at its
Williams Brook Gold Project located in New Brunswick, Atlantic Canada. A grab sample* returned 72.0
g/t Au in a new area located 10 km NE from the L ynx Gold Zone (“L GZ”) along a potential trend that
includes the Jaguar and Cougar gold zones.
This quartz-rhyolite-limonite-sericite subcrop returned the highest gold assay from surface sampling
outside the LGZ. Previous drilling along the 4 km-long Lynx Gold Trend has confirmed that surface
sampling is a strong vector for targeting gold mineralization at depth. Puma’s work has found that surface
sampling grades translate to similar grades subsurface (Figure 1). * The reader is cautioned that grab
samples are selective by nature and may not represent the true metal content of the mineralized zone.
President and CEO of Puma, Marcel Robillard, stated: “ Work on the Williams Brook Project has been
ongoing since the beginning of the summer with two exploration teams undertaking surface work on more
than 20 priority targets throughout the land package. This latest finding continues to highlight the
potential scale of our flagship project and further supports our work of the last four years. We’ve always
maintained that a large orogenic gold system is at play here. These latest findings continue to support our
hypothesis.”
Newly discovered Lion Gold Zone
The ongoing surface exploration program in 2024 uncovered several large quartz outcrops and
subcrops in an area that was never explored before, 4 km along strike away from the Jaguar Gold Zone.
This gold trend-oriented NE parallels the Lynx Gold Trend, which extends more than 10 km between the
Lynx and Panthera gold zones.
The new gold zone, the Lion Gold Zone (‘’LIGZ’’), is closely associated with a major fault, the
McCormack Brook Fault. Prospection uncovered altered sediment and rhyolite with mineralized quartz
veins similar to the mineralization found at the LGZ. An initial ten (10) samples were collected with assay
highlights of 72 g/t Au, 2.61 g/t Au, 0.13 g/t Au and 0.07 g/t Au. The 72 g/t gold sample is composed
of quartz, oxidized sulphides and fragments of altered rhyolite (Figure 2).
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Figure 1. 2024 Exploration Program – Discovery of the Lion Gold Zone
Figure 2. The 72 g/t gold sample
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Following these findings, the company brought an excavator to define and study this new zone using the
same systematic low-cost exploration approach, aiming to bring this discovery to a drilling stage as soon
as possible.
About the Williams Brook Gold Project
Puma's flagship Williams Brook Gold Project comprises four properties covering more than 50,000 ha in
Northern New Brunswick—an established and mining-friendly jurisdiction near paved roads and excellent
infrastructure. 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.
Puma’s successful exploration model returned , amongst others, 5.50 g/t gold over 50.15 m in hole
WB21-02 (see Sept.15, 2021, News Release), 2.77 g/t gold over 42.80 m in hole WB 22-66 (see June 8,
2022, News Release), 2.49 g/t gold over 63.05 m in WB23-139 (see Oct. 31, 2023 News Release), 5.15
g/t gold over 23.15 m in WB23-142 and 1.24 g/t gold over 98.05 m in WB23-145 (see Nov. 16, 2023
News Release).
Since 2021, with less than C$15M of exploration investment, Puma has made multiple gold discoveries at
the Williams Brook property and believes it hosts an extensive orogenic gold system. Puma’s ongoing
exploration programs are focused on building a gold camp in Northern New Brunswick, Canada.
Dr. Gregg Morrison, a leading expert on intrusion-related, porphyry, and epithermal gold systems, 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.’’
Qualified Person
Dominique Gagné, P. G e o , operator of Geominex, a company that provides independent consulting
services to Puma and a qualified person as defined by National Instrument 43-101—Standards of
Disclosure for Mineral Projects, has reviewed and approved this release's technical information.
About Puma Exploration
Puma Exploration is a Canadian-b ased 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.
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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
low-cost exploration tool for discovering gold at shallow depths and maximizing 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;
Mia Boiridy. Head of Investor Relations and Corporate Development. (250) 575-3305;
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policies of the TSX Venture Exchange) accepts 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 several known and unknown risks, uncertainties, and other factors that may
cause the actual results, performance, or achievements of Puma 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. The quarterly and annual reports and the documents submitted to
the securities administration describe these risks and uncertainties.