Puma discovers more visible gold at Williams Brook

Nov 20, 2020

2020-11-19 12:17 ET – News Release

Mr. Marcel Robillard reports

PUMA EXPLORATION FINDS ADDITIONAL VISIBLE GOLD (VG) AT WILLIAMS BROOK PROPERTY IN NEW BRUNSWICK, ATLANTIC CANADA

Puma Exploration Inc. has found additional occurrences of visible gold in trench TR20-28, located 35 metres east of the O’Neil high-grade gold showing. The discovery was made during the detailed mapping of the trench, following the cleaning work.

The visible gold is variably detected in 0.5-millimetre to three-millimetre disseminated blebs in a quartz vein breccia that show pervasive alteration of Chlorite plus Sericite. The quartz veins containing the visible gold are oriented 290 degrees north and seem to be part of a major extensional system (Riedel type) located near the major structures that are trending northwest.

Marcel Robillard, Puma’s president and chief executive officer, stated: “While the company is quick to assert the presence of visible gold, it is not necessarily indicative of mineralization throughout all the samples at O’Neil. However, it does augur well for further gold potential discoveries at Williams Brook property.

“It’s a very exciting time for Puma Exploration with the discovery of additional visible gold at the O’Neil gold zone, the confirmation of the O’Neil gold trend for more than five kilometres, and with more than 500 samples currently at the laboratory for gold assaying with results that should be received shortly,” added Mr. Robillard.

O’Neil gold trend

The first phase of the 2020 summer exploration program lead to the discovery of the O’Neil gold showing with the presence of a significant and pervasive potential gold trend over five kilometres along the O’Neil gold trend. The O’Neil showing consists of an altered and brecciated rhyolite injected with quartz veins and quartz stockworks. The altered and brecciated rhyolite is open in all directions.

The highest gold sample, grading 128 grams per tonne gold, is part of the main quartz vein (ranging from 30 centimetres to 50 centimetres) followed and sampled, so far, over 10 metres in length. The average gold grade sample of the vein of 30.86 g/t Au over 10 metres (128.0 g/t Au, 35.2 g/t Au, 18 g/t Au, 14.5 g/t Au, 10.25 g/t Au, 8.33 g/t Au and 1.74 g/t Au), was estimated from chip and grab samples collected continuously every 1.5 metres on the main vein.

Following the hand and shovel cleaning of the main vein, surrounding quartz stockworks and veinlets within the rhyolite were found, sampled and reported respectively high-grade gold of 16.90 g/t Au, 8.24 g/t Au, 6.14 g/t Au, 3.57 g/t Au, 2.2 g/t Au, and 1.14 g/t Au.

Triple Fault gold project

The Triple Fault gold project includes three properties named Williams Brook, Jonpol Gold and Portage Lake, covering more than 41,500 hectares of favourable gold exploration land package. The project is located about 60 kilometres west of Bathurst with the paved road cross-cutting the property.

Puma is currently focusing its field work on its first priority, the Williams Brook property. The Williams Brook property includes selected drill results of 11.2 g/t over 2.8 metres, 2.1 g/t Au over nine metres, and one g/t over 23 metres, gold occurrences grading up to 109 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 kilometres by 3 kilometres.

There has been very limited drilling and exploration in the area mapped to be part of the Dunnage zone hosting major gold deposits and gold occurrences in siluro-devonian rocks and considered as an emerging gold exploration and development district.

Qualified person

Dominique Gagne, PGeo, independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Mr. Gagne is independent of the company.

Quality assurance/quality control

Rock samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, N.B., where each sample is dried, crushed and pulped. The samples were crushed to 70 per cent less than two millimetres, riffle split off one kilogram, pulverise split to better than 85 per cent passing 75 microns (prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Rock sample ICP results with gold greater than one gram per tonne were subjected to a metallic screening (Au-SCR24) one kilogram pulp screened to 100 microns.

About Puma Exploration Inc.

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 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.

We seek Safe Harbor.

http://explorationpuma.com/en/