Puma Exploration Inc. launch its 2024 exploration program at its 100%-owned Jonpol Gold property located 8 km east of its Williams Brook property in Northern New Brunswick. As outlined in its News Release of January 17, 2024, Puma is expanding its regional exploration fieldwork to prospective areas of the Williams Brook Project to identify additional priority targets and add to the Williams Brook gold inventory. A focused exploration program will be deployed this summer at the Jonpol Gold property and its new expansion to advance the Company?s understanding of the sizeable orogenic gold system at play in the region and identify additional potential gold deposits.

The 2024 summer program at Jonpol aims to investigate and revisit gold showings found by previous operators using Puma's proven exploration strategy. These gold occurrences are associated with mafic intrusions along and parallel to structures closely related to the Rocky Brook Millstream Fault (RBMF), a major orogenic structure trending ENE and known to host numerous gold occurrences and deposits. Grab samples reported from historical trenches, dug 36 years ago (1985-88), graded up to 17.1 g/t Au, 14.8 g/t Au, 10.6 g/t Au, 6.8 g/t Au, 5.1 g/t Au, and 3.4 g/t Au.

Puma has not done any field work on those showings since the acquisition of the property in 2019. Readers are cautioned that grab samples are selective by nature and may not represent the true metal content of the mineralized zone. Potential at Jonpol Gold: The Jonpol Gold property is located only 5 km NW from the Murray Brook Deposit, the largest advanced-stage polymetallic asset in New Brunswick recently acquired by Canadian Copper.

Jonpol has seen little exploration work in the past. Puma flew a VTEM heliborne survey over the property in 2021 and completed a short prospection program that same year. Limited diamond drilling by previous operators returned 1.13 g/t Au over 12.0 m, 1.37 g/t Au over 6.0 m, 1.37 g/t Au over 1.4 m, 3.89 g/t Au over 1.0 m and 2.78 g/t Au over 1.5 m. The property is underlain by sedimentary rocks and intruded by mafic to intermediate intrusions.

Recent data compilation of work conducted by previous operators on the property has highlighted a 4 km-long gold trend parallel to a major fault and along a contact between intrusive and sedimentary rocks. The trend appears similar in size and nature to the Lynx Gold Trend and will be Puma?s top priority for its upcoming work program. Increasing the Jonpol Gold property package: Following its DEAR (Development, Exploration, Acquisition and Royalties) strategy, Puma always seeks opportunities to maximize its landholdings and increase shareholder value.

The Company secured 54 units (1,173 hectares) that came up for staking at a minimal investment of $3,240. The 100%-owned land package now extends to 4,736 ha. The claims, only 10 km from the Company?s flagship Williams Book property, are underlain by the same geology and butt up against the Murray Brook West property optioned to Canadian Copper.

Puma is focused on growing the volume, scale, and grade of the Williams Brook Gold Project. Its 2024 plans include: Prove the continuity of the high-grade gold mineralization sampled at surface at the Tiger Gold Zone along the 4.0kmstrike extension of the Lynx Gold Trend. Drilling along the Tiger and Cheetah gold zones has been completed, and assay results are pending.

A drone magnetic survey (very detailed) was flown over 6 km of the Lynx Gold Trend, including the recently drilled 3.5 km extension. Once interpreted, the new data will help direct Puma?s summer trenching and stripping program and help identify targets for its upcoming 2024 Summer/Fall drilling program. Expand to depth the high-grade mineralized intercepts drilled in 2023 at the Lynx Gold Zone.

The 3D model of the Lynx Gold Zone mineralization, incorporating the results of the 2023 drilling at depth and along strike at the LGZ, is almost finalized. The updated model will provide Puma with additional high-grade drilling targets at the LGZ for future drilling. Expand regional exploration to new areas of the property and newly acquired land packages to identify additional priority targets and add to the project?s gold inventory.

Demonstrate and continue to improve the gold recoveries at Williams Brook with conventional processing techniques (Prospection, mapping and trenching).Puma continues to develop and derisk the Williams Brook Gold Project. Last year, metallurgical work was undertaken to understand and mitigate any issues with gold recoveries. This past winter, a small-scale simulation was conducted on a 3-tonne bulk sample.

Results are encouraging, and a comprehensive review of the completed work will be announced shortly.