Puma Exploration Inc., PUMA-TSXV, (the 'Company' or 'Puma') is pleased to announce the discovery of visible GOLD (VG) in quartz veining stockwork similar to the O'Neil Showing signature grading up to 109.5 g/t Au (press release 2020/09/01) at its Williams Brook Property near Bathurst, New Brunswick, Atlantic Province of Canada.

The discovery, located 35 meters NE of the O'Neil Showing, was made during Phase 2 of the current trenching program (T20-21 to T20-29) conducted on the O'Neil Gold Trend (OGT). Phase 1 of the exploration program successfully expands the OGT over 5 km from the High-Grade O'Neil Showing towards the north-east. Of particular interest is the discovery of a significant zone (50 m by 25 m) of a large altered and mineralized system composed of quartz veins and quartz stockwork within the 40 Zone located 2.5 km NE of the high-grade gold O'Neil Showing. The assays from this zone are pending.

HIGHLIGHTS: Visible GOLD (VG) discovered 35 meters NE of the O'Neil high-grade Gold Showing

29 trenches for 4,000 meters executed mainly in the O'Neil Gold Trend (OGT)

The favorable unit (altered rhyolite) hosting the O'Neil Showing expanded over 5 km at OGT

Discovery of significant altered rhyolite, quartz veins and quartz stockwork within the 40 Zone at OGT

Channel sampling and detailed mapping in progress at the O'Neil Zone (R20-01 and R20-02)

Stripped Area of 75m X 150m (Wood cutting and stripping) in progress the O'Neil Zone

Over 500 samples from the current work are currently at the lab (assays pending) Marcel Robillard, Puma's President & CEO stated, 'We are very excited to announce the first visible GOLD (VG) found by Puma's technical team at the Williams Brook Property. Since the beginning of the exploration in July 2020, tremendous knowledges and discoveries were made which accentuated the similarities between Williams Brook and the other majors gold plays in Atlantic Canada'.

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. Great efforts will be made by the Company in the coming years to deploy its DEAR strategy (Development, Exploration, Acquisition and Royalties) in order to generate maximum value for shareholders with low shares dilution.

Contact:

Tel: (418) 724-0901

Forward-Looking Statements

This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which 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 forwardlooking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.

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