Major gold discovery in New Brunswick, Atlantic Canada

PUMA EXPLORATION INC. (PUMA:TSX-V/PUXPF:OTCBB) is a Canadian-based mineral exploration company focusing its efforts on the discovery of precious metals orebodies in the famous Bathurst Mining Camp (BMC) in New Brunswick, home of more than 40 volcanogenic massive sulfides deposits.

Puma has been a major player in this prolific underexplored gold terrane for many years. The company was voted 2014 Prospector of the Year by the New Brunswick Prospectors and Developers Association.

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Puma controls thousands of hectares of easily accessible prime land covering the most prolific precious metals horizons in the rich BMC, including the Williams Brook property where prospecting and sampling resulted in a major gold discovery in 2020. This exciting discovery was confirmed by an intersection of 5.55 g/t Au over 50.15 meters during the maiden drill campaign of the summer 2021.

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Backed by significant strategic investments and managed by experienced professionals, Puma is focused on generating maximum shareholder value through a strategy that incorporates acquisition, exploration, development and royalties.

Names from left to right:
Michel Fontaine, Laura Araneda, Réjean Gosselin, Richard Thibault, Marcel Robillard

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Puma decided, in late 2020, to spin off its base metals assets into a new vehicle known as Melius Capital 3 Corp ("Melius"), a standalone copper-focused company. The transaction evaluated at $3.5M will unlock significant value from Puma's copper portfolio and allow the Company to focus on its Williams Brook Gold Project.

Puma will receive 12 million shares of Melius, of which 6 million will be distributed to Puma shareholders. Following Melius' listing on a Canadian exchange, expected in Q1 2022, Puma and its shareholders will collectively hold 19.7% of Melius' issued and outstanding shares.

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Puma's exploration and development activities are governed by its ESG principles of sustainable development, social responsibility and acceptability, transparency and good governance. Minimizing the environmental impacts of exploration has been a top priority for the Company since its inception.

At the core of its values, Puma is committed to establishing mutually-beneficial alliances with the communities that surround its projects. The Company has signed an MOU with the Pabineau First Nation and proactively seeks input as it advances development on its projects.

The Company is sufficiently funded to execute the next phase of its exploration program, including a second drilling campaign of 10,000 m at its Williams Brook Gold Project scheduled to begin in early 2022.

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175, Légaré road
Rimouski, Qc
Canada G5L 3B9
Phone: (418) 724-0901
Fax: (418) 722-0310