Puma Exploration Closes $290,000 Charity Stream-Via Personal Placement

Article content material

RIMOUSKI, Quebec, Dec. 22, 2023 (GLOBE NEWSWIRE) — Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the “Firm” or “Puma”) pronounces that it has closed a non-brokered placement (the “CFT Personal Placement”) consisting of two,000,000 Charity flow-through items (the “CFT Models”) at $0.145 per CFT Unit for gross proceeds of C$290,000. Every CFT Unit is comprised of 1 Charity flow-through share and one frequent share buy warrant. Every entire warrant is exercisable to buy one frequent share of the Firm at $0.20 per share till December 22, 2025.

Article content material

The warrants are topic to an acceleration clause that entitles the Firm to offer discover (the “Acceleration Discover”) to holders that they may expire 30 days from the date the Firm delivers the Acceleration Discover. The Firm can solely present the Acceleration Discover if the closing worth of the Firm’s Frequent Shares on the TSXV is the same as or better than $0.45 for 30 consecutive buying and selling days. The Acceleration Discover will be supplied at any time after the statutory maintain interval and earlier than the expiry date of the warrants.

Article content material

The web proceeds of the CFT Models will probably be used to incur eligible Canadian Exploration Bills and flow-through mining expenditures, as outlined below the Revenue Tax Act (Canada), that will probably be renounced in favour of the purchasers with an efficient date of no later than December 31, 2024. The funds will probably be used to advance exploration on the Williams Brook Gold Undertaking and the Firm’s belongings in Northern New Brunswick.

In reference to the closing of the Personal Placement choices, the Firm paid NO money finder’s charges NOR finder warrants. All securities issued in reference to the non-public placement are topic to a four-month-and-one-day maintain interval expiring on April 23, 2024. The non-public placements have acquired conditional approval from the TSX Enterprise Trade.

Article content material

Article content material

Concerning the Williams Brook Gold Undertaking

Puma’s flagship Williams Brook Gold Undertaking contains 4 properties overlaying greater than 49,000 ha in Northern New Brunswick—a longtime and mining-friendly jurisdiction close to paved roads and with glorious infrastructure close by. The land package deal is situated close to the Rocky Brook Millstream Fault (“RBMF”), a serious regional construction shaped throughout the Appalachian Orogeny and a major management for gold deposition within the area.  

Since 2021 and with lower than C$12M of exploration funding. Puma has made a number of gold discoveries on the Williams Brook property and believes that the property hosts an in depth orogenic gold system. Puma’s ongoing exploration applications are targeted on constructing a gold camp in Northern New Brunswick, Canada.

Dr. Gregg Morrison, a number one skilled on intrusion-related, porphyry and epithermal gold methods, acknowledged: “I imagine Williams Brook is a part of the identical household of gold methods as Fosterville and Sunday Creek in Australia and Valentine Lake in Newfoundland. These different deposits are recognized for his or her structure-controlled mineralization, steel zoning, free gold in bonanza shoots and kilometre scale depth extent. The similarities to those extra comprehensively explored deposits provides actual confidence to deeper drilling within the Lynx Zone and continued exploration across the feeder constructions within the Williams Brook District.’’

Article content material

Determine 1. Essential gold showings and occurrences on the Williams Brook Gold Undertaking

Certified Particular person

The technical data of this launch was reviewed and authorised by Dominique Gagne, P.Geo. a advisor of Puma and a professional particular person as outlined by the Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives.

About Puma Exploration

Puma Exploration is a Canadian-based mineral exploration firm with treasured metals initiatives in New Brunswick, close to Canada’s Well-known Bathurst Mining Camp (“BMC”). Puma has a protracted historical past in Northern New Brunswick, having labored on regional initiatives for over 15 years. As a primary mover, the Firm rapidly and strategically accrued a powerful portfolio of potential gold landholdings within the space. Puma’s profitable exploration methodology combines outdated prospecting strategies with detailed trenching and up-to-date know-how similar to Synthetic Intelligence (“AI”) to facilitate an understanding of the geology and related mineralized methods. Armed with geophysical surveys, geochemical knowledge and consultants’ experience, Puma has developed an ideal low-cost exploration instrument to find gold at shallow depths and maximize drilling outcomes.

Article content material

The Firm can be dedicated to deploying its DEAR technique (Development. Exploration. Acquisition. and Royalties) to generate most worth for shareholders with low share dilution.

Join with us on Fb / X/ LinkedIn.
Go to www.explorationpuma.com for extra data or contact:

Marcel Robillard. President and CEO. (418) 750-8510;
president@explorationpuma.com

Mia Boiridy. Head of Investor Relations and Company Growth. (250) 575-3305;
mboiridy@explorationpuma.com

Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this launch.

Ahead-Wanting Statements: This press launch could include forward-looking statements. Such forward-looking statements contain a number of recognized and unknown dangers, uncertainties, and different components that will trigger the precise outcomes, efficiency, or achievements of Puma to be materially totally different from precise future outcomes and achievements expressed or implied by such forward-looking statements. Readers are cautioned to not place undue reliance on these forward-looking statements, which converse solely as of the date the statements have been made, besides as required by legislation. Puma undertakes no obligation to publicly replace or revise any forward-looking statements. The quarterly and annual reviews and the paperwork submitted to the securities administration describe these dangers and uncertainties.

A photograph accompanying this announcement is obtainable at https://www.globenewswire.com/NewsRoom/AttachmentNg/8c191d1c-a36a-417a-8184-45007d2d8933

Article content material