November 4, 2021 09:52 ET | Source: Puma Exploration Inc. Puma Exploration Inc.

RIMOUSKI, Quebec, November 4, 2021 (Global News Agency) - Puma Exploration Inc., PUMA-TSXV, ("Company" or "Puma") is pleased to announce its ongoing surface trenching and divestiture plan A new 100-meter-long high-density quartz veined belt with visible gold (VG) was discovered at the Williamsbrook Gold Project in New Brunswick, an emerging gold mining area in the Canadian Atlantic.

Through the continuous trenching and stripping plan along the OGT, large patches of quartz veins and narrow vein bands were discovered. The new area is located 150 meters northeast of Lynx (see Figure 1). So far, it can be tracked more than 100 meters, on the surface, between Chubby and Moose Gold Zones. Visible gold (VG) was found in quartz/iron oxide veins.

Figure 1: O'Neill gold trend new discovery map https://www.globenewswire.com/NewsRoom/AttachmentNg/16f81e4f-5a8d-4266-8fc1-ab93e205fd74

The emergence of a large number of gold-bearing quartz veins (see Figure 2) coincides with the sudden change in the direction of the rhyolite/sediment contact predicted by our structural model. Since other similar lithological contact bends are expected, as long as the weather permits, trenching and stripping will continue to use two excavators, two trucks, and a bulldozer to move northeast along the OGT (see Figure 3).

Figure 2: The uncovered dense quartz network between Chubby and Moose Gold District https://www.globenewswire.com/NewsRoom/AttachmentNg/38939d1a-818f-4469-a6ea-a3d992f188f3

President and CEO Marcel Robillard said: "The discovery of this important high-density quartz veining area containing visible gold confirms that our technical team’s exploration model is working well. The actual divestiture is expanding this. The new gold-bearing quartz area is prepared for intensive sampling. The size, abundant quartz, alteration and visible gold make this new discovery a high-quality drilling target!"

These gold-bearing quartz vein networks are consistent along favorable contact sediments/rhyolite, and recent sampling results (see PR 2021-10-14) confirmed the existence of the 7 km potential O’Neill gold trend along the strike. Other similar systems. Stripping and intensive sampling will then extend 300 meters to the Mus Gold Mine and further northeast.

Figure 3: O'Neill Gold Trend (OGT) current divestiture operation https://www.globenewswire.com/NewsRoom/AttachmentNg/961ac7ea-2680-40ef-8b72-fd9f2617a653

O'Neil GOLD Trend (O'Neil Gold Trend, OGT) O'Neil Gold Trend (OGT) is a universal alteration and breccia rhyolite unit that has a significant strike length of 700 meters. The gold was displayed and appeared, followed by trenching and drilling. The geophysical characteristics of OGT exceed 7 kilometers. The favorable unit (rhyolite) is similar to and parallel to the "Williams 1" and "Williams 2" gold zones. In 2008, the previous operator drilled 54.2 g/ton of gold at 2.8 meters. 1 gram/ton of gold was drilled on 1 gram/ton of gold. 23 meters.

These trends are interpreted as related to the major rift valleys in the New Brunswick geological event, and may represent a low-sulfidity hyperthermal liquid gold system. Along the OGT, the width of rhyolite varies from 5 meters to 250 meters, with an average apparent thickness of 150 meters.

The first core-oriented drilling activity was completed on August 20, 2021. It includes 18 holes, a total of 2,360 meters, and tested the 200-meter section of the 700-meter-long O’Neill Golden Trend (OGT). Published analysis results of twelve (12) first holes, all of which intersect important gold mineralization, including discovery hole WB21-02, which cut 5.55 g/ton of gold at a distance of 50.15 meters from the surface , Including 9.88 g/ton gold over 8.60 meters and 46.94 g/ton gold over 3.85 meters. Testing of the remaining 6 drill holes is pending.

A high-level selection analysis of the prolific O’Neill Gold Trend (OGT)*:

* The selected rock grab samples are selective and may not represent the true taste or style

Qualified Person Dominique Gagné, PGeo is an independent qualified person as defined in the 43-101 Standard of Canadian National Instruments, who has reviewed and approved the geological information reported in this press release. Neither TSX Venture Exchange nor its regulatory service provider (as the term is defined in the policies of TSX Venture Exchange) is responsible for the adequacy or accuracy of this press release. Mr. Gagné is independent of the company.

Quality Assurance/Quality Control (QA/QC)

Rock samples are bagged, sealed, and sent to the ALS CHEMEX facility in Moncton, New Brunswick, where each sample is dried, crushed, and pulped. The sample is crushed to less than 70% of 2 mm, separated from 1 kg, and the sample is crushed to more than 85%, passing 75 microns (Prep-31B). Then 30 grams of fine particles were separated from the resulting pulp, and then subjected to a fire test (Au-ICP21). Other screen sizes are available. If the screen size is too small, repeat the 50g test. Determination of the entire super-large fraction.

About PUMA EXPLORATION Puma Exploration is a mineral exploration company headquartered in Canada. It has early to late stage precious metal and base metal projects in the famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. In the next few years, the company will vigorously deploy its DEAR strategy (development, exploration, acquisition and royalties) to create maximum value for shareholders with low share dilution.

You can visit us on Facebook / Twitter / LinkedIn. Learn more about Puma by visiting www.explorationpuma.com. Marcel Robillard, President, (418) 750-8510; President@explorationpuma.com

Forward-looking statements: This press release may contain forward-looking statements. Such forward-looking statements involve many known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Puma to exist with the actual future results and achievements expressed or implied by such forward-looking statements Significant differences. Readers should be careful not to rely excessively on these forward-looking statements, which are only published on the date the statement is made, unless required by law. Puma assumes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in quarterly and annual reports and documents submitted to the Securities Authority.