Puma Exploration consolidates Williams Brook land holdings, New Brunswick

Puma Exploration Inc. [TSXV-PUMA; OTCQB-PUMXF] reported a strategic property acquisition, the Moose Brook property. The 28 claims (608 ha) fill a gap in the 100%-owned Williams Brook property, strengthening its position in the region. Puma Exploration is the biggest landholder in northern New Brunswick and the most active explorer in the area.

Marcel Robillard, President and CEO of Puma Exploration, stated, “This acquisition further adds to our considerable ground position in Northern New Brunswick. Over the past four years, we’ve completed many separate transactions to consolidate a patchwork of mining claims held by many landowners. Most mining claims had seen little to no modern exploration work and had never been worked as a whole. Our exploration programs and recent discoveries have shown that the property and surrounding areas hold huge potential. We’re always looking to strategically and judicially expand our holdings to generate more exploration opportunities and maximize future returns.”

The Williams Brook property, a key component of the Williams Brook Gold Project, has been a focal point of Puma’s successful exploration programs. Following the company’s initial discovery of 5.55 g/t gold over 50.15 metres in 2021 at the Lynx Gold Zone, recent drilling intersected the same geology, structures, and quartz mineralization known to carry gold along the trend’s 4 km extension.

Recognizing the immense potential of the area and in alignment with the company’s DEAR strategy (Development. Exploration. Acquisition. and Royalties), Puma has prioritized the consolidation of the property package where it envisions potential.

“Having worked in northern New Brunswick for the last 20 years, Puma has developed solid relationships with local prospectors and developers who regularly bring new opportunities to us. This allows us to secure a right of first refusal of sorts on new discoveries. We can secure, test, and validate any option agreement within the first year at a very low cost,” added Marcel Robillard.

To acquire a 100% undivided ownership interest in the Moose Brook property (28 claim units), Puma will issue 225,000 common shares of the company and make a $5,000 cash payment to the property’s owner following the signing of the agreement.

Additionally, Puma has agreed to the following: a $25,000 cash payment to the owner upon a positive preliminary economic assessment (PEA to be defined in the definitive agreement); a $50,000 cash payment to the owner upon a positive feasibility study (FS to be defined in the definitive agreement); and a 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% net smelter return (NSR) royalty on any saleable production from the property. Puma may purchase 50% of the NSR royalty (1%) for $1 million. Puma retains the right of first refusal on the remaining 1% NSR royalty held by the owner. The transaction is subject to TSX Venture Exchange approval.

Puma’s flagship Williams Brook Gold Project comprises four properties covering over 50,000 ha in northern New Brunswick—an established and mining-friendly jurisdiction near paved roads and excellent infrastructure. The land package is located near the Rocky Brook Millstream Fault (“RBMF”), a major regional structure formed during the Appalachian Orogeny and a significant control for gold deposition in the region.

Puma’s successful exploration model returned, amongst others, 5.50 g/t gold over 50.15 m in hole WB21-02, 2.77 g/t gold over 42.80 m in hole WB 22-66, 2.49 g/t gold over 63.05 m in WB23-139, 5.15 g/t gold over 23.15 m in WB23-142 and 1.24 g/t gold over 98.05 m in WB23-145.

Since 2021, with less than C$15 M of exploration investment, Puma has made multiple gold discoveries at the Williams Brook property and believes it hosts an extensive orogenic gold system. Puma’s ongoing exploration programs are focused on building a gold camp in northern New Brunswick, Canada.

Dr. Gregg Morrison, a leading expert on intrusion-related, porphyry and epithermal gold systems, stated: “I believe Williams Brook is part of the same family of gold systems as Fosterville and Sunday Creek in Australia and Valentine Lake in Newfoundland.

“These other deposits are known for their structure-controlled mineralization, metal zoning, free gold in bonanza shoots and kilometre-scale depth extent. The similarities to these more comprehensively explored deposits gives real confidence to deeper drilling in the Lynx Zone and continued exploration around the feeder structures in the Williams Brook District.’’

Puma Exploration has precious metals projects in New Brunswick, near the famous Bathurst Mining Camp, where it has worked on regional projects for over 15 years. As a first mover, the company quickly and strategically accumulated an impressive portfolio of prospective gold landholdings in the area.