“These new land additions further consolidate our considerable ground position, increasing our overall footprint to more than 251 square kilometers which cover the highly prospective and underexplored
OPTION AND PURCHASE AGREEMENTS
To complete its impressive landholdings at the
Terms of the Ten Miles Pool Road Agreement
Puma may acquire a 100-per-cent undivided ownership interest in the Ten Miles Pool Road Property (36 claim units) by issuing a total amount 300,000 shares of Puma according to the following terms:
- Issuing an amount of 150,000 shares of Puma subsequent to signing of the agreement;
- Issuing an amount of 25,000 shares of Puma on or before the First anniversary;
- Issuing an amount of 50,000 shares of Puma on or before the Second anniversary;
- Issuing an amount of 75,000 shares of Puma on or before the Third anniversary
Additional performance payments:
$25,000 cash payment to the owner upon a positive preliminary economic assessment (PEA to be defined in the definitive agreement);$50,000 cash payment to the owner upon a positive feasibility study (FS to be defined in the definitive agreement);- One-time cash payment of
$100,000 to the owner upon a commercial production (commercial production to be defined in the definitive agreement).
The owner will retain a 2-per-cent net smelter return royalty on any saleable production from the property. Fifty percent of the NSR royalty (that is, 1-per-cent) may be purchased by Puma for
Terms of the Northwest Upsalquitch Agreement
Puma may acquire a 100-per-cent undivided ownership interest in the Northwest Upsalquitch Property (24 claim units) by issuing a total amount 200,000 shares of Puma according to the following terms:
- Issuing an amount of 75,000 shares of Puma subsequent to signing of the agreement;
- Issuing an amount of 50,000 shares of Puma on or before the First anniversary;
- Issuing an amount of 50,000 shares of Puma on or before the Second anniversary;
- Issuing an amount of 25,000 shares of Puma on or before the Third anniversary
Additional performance payments:
$25,000 cash payment to the owner upon a positive preliminary economic assessment (PEA to be defined in the definitive agreement);$50,000 cash payment to the owner upon a positive feasibility study (FS to be defined in the definitive agreement);- One-time cash payment of
$100,000 to the owner upon a commercial production (commercial production to be defined in the definitive agreement).
The owner will retain a 2-per-cent net smelter return royalty on any saleable production from the property. Fifty percent of the NSR royalty (that is, 1-per-cent) may be purchased by Puma for
TRIPLE FAULT GOLD PROJECT
Puma is currently focusing its field work on its first priority, the Williams Brook Gold property. The Williams Brook Gold property includes selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over 23m, gold occurrences grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock, numerous gold soil anomalies and extremely anomalous till samples with up to 508 gold grains that occur over an area approximately 12 by 3 kilometers.
There has been very limited drilling and exploration in the area mapped to be part of the
QUALIFIED PERSONS
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Communications; (604) 341-6025
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 forward-looking 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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Figure 1: Williams Brook Property Claims Map
Williams Brook Property Claims Map
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