Puma's properties are located in an emerging
"This new land addition further consolidates our considerable landholdings in the area. We've increased the overall footprint of the
Over the past 15 months, the Company completed several transactions to connect a patchwork of mining claims held by different landowners. Most of these have seen little to no modern exploration work and have never been consolidated into a contiguous land package before.
ACQUISITION TERMS
To acquire a 100% interest in the
- 50,000 common shares of the Company and a
C$10,000 cash payment; - 50,000 common shares of the Company on or before the first anniversary of the signing of the agreement;
- 100,000 common shares of the Company on or before the agreement's second anniversary.
Additional performance payments to the Vendor:
- Cash payment of
C$25,000 upon a positive preliminary economic assessment (PEA to be defined in the definitive agreement); - Cash payment of
C$50,000 upon a positive feasibility study (FS to be defined in the definitive agreement); - One-time cash payment of
C$100,000 upon commercial production (commercial production to be defined in the definitive agreement).
The Vendor will retain a 2% net smelter return ("NSR") royalty on any commercial production from the property. Fifty percent of the NSR, or 1%, may be purchased by Puma for
ABOUT
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Visit www.explorationpuma.com for more information or contact:
President, (418) 750-8510;
president@explorationpuma.com
Head of Investor Relations and Corporate Development, (250) 575-3305;
mboiridy@explorationpuma.com
Neither the
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6fe2022e-5d6d-488c-bcb3-a9d9651b459a
Figure 1. Puma's landholdings in northern New Brunswick
Puma's landholdings in northern New Brunswick
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