RIMOUSKI, Québec, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the “Company” or “Puma”) is pleased to review its corporate and exploration achievements for 2024 and provide an overview of its plans for 2025.
“2024 was a transformational year for Puma Exploration. Our DEAR strategy proved to be our differentiator in the challenging market conditions where junior exploration companies struggle to access capital. Our unique strategy is positioning us for success in 2025 and beyond. Our partnership with Kinross ensures we have the funds to drive exploration and continue developing Williams Brook. With our proven discovery model, we are confident that we’ll make gold discoveries on our new McKenzie Gold Project.” notes Marcel Robillard, President and CEO of Puma Exploration.
The partnership with Kinross, a leading gold mining company, marks a significant milestone for Puma. Not only does it provide the Company with the necessary funds for exploration and development at Williams Brook, but it also opens up new avenues for collaboration and growth. In light of this pivotal partnership, Puma has appointed Dominique Gagné as Vice-President of Exploration, effective immediately. Mr. Gagné, an experienced exploration geologist, will now represent Puma on the companies’ joint technical committee, guiding Puma’s ongoing search for new exploration and development opportunities.
Kinross has committed to investing CAD$2,000,000, including 5,000 metres of drilling at Williams Brook in 2025. The joint technical committee will meet in the coming weeks to define this year’s exploration program, and details of the plan will be announced when it is finalized. In parallel, Puma will be focused on discovering new high-grade gold deposits on its recently acquired McKenzie Gold Project. Fieldwork will start following ongoing data compilation this spring, with an inaugural drilling program scheduled in the fall.
Adhering to its DEAR strategy, the Company is continuously evaluating new opportunities to create shareholder value. Stay tuned for more exciting news and developments in 2025.
Figure 1. Current landholdings in northern New Brunswick
Figure 1
2024 Highlights:
1) DEAR strategy achievements:
Signed a definitive agreement to acquire 70% of the TIMM property (22/01/2024)
Canadian Copper (CSE: CCI), of which Puma owns 9.78%, completed the acquisition of the Murray Brook Deposit (05/02/2024)
The Chester and Turgeon Projects were optioned to Raptor Resources (04/03/2024)
Puma acquired the Moose Brook Property at the heart of the Williams Brook Project (09/07/2024)
The sale of the Chester property to Raptor was completed, with Puma receiving AUD$500K + 4,000,000 Raptor shares (03/10/2024)
Puma optioned 65% of the Williams Brook Project to Kinross for CAD$16.75M over 5 years (24/10/2024)
Kinross acquired a 9.9% stake in Puma Exploration by way of a private placement (24/10/2024)
Canadian Copper announced its acquisition of the Caribou Processing Plant Complex (28/10/2024)
Puma signed LOIs for the McKenzie Gold Project (18/11/2024)
Puma staked 255 claims units for a total of 5,500 hectares South-East of the Caribou Processing Plant Complex
Puma signed Definitive Agreements for the McKenzie Gold Project (23/12/2024)
2) Corporate developments:
Welcomed Mia Boiridy as Director (31/08/2024)
Appointed Martin Nicoletti as CFO (09/10/2024)
Appointed Kayla Nicoletti as Corporate Secretary (21/10/2024)
Appointed Dominique Gagné as Vice-President Exploration (08/01/2025)
3) Technical achievements :
Extended the Lynx Gold trend over four (4) kilometres with an initial 2,000 m drilling program to verify high-grade grab samples. Results returned anomalous gold mineralization with alteration and structural features similar to Lynx at the Tiger and Cheetah Gold Zones (12/12/2023; 27/02/2024; 04/04/2024; 18/04/2024; 25/04/2024; 11/07/2024)
Began exploration program at the Jonpol property (08/05/2024)
Discovered the Lion Gold Zone with grab samples up to 72 g/t gold (24/07/2024)
Extended the Lion Gold Zone to over 550 metres strike length (04/12/2024)
2025 Plans:
Launch the fully funded CAD$2,000,000 exploration program at the Williams Brook Project with Kinross Gold.
Launch a surface exploration program at the newly acquired McKenzie Gold Project.
Close the sale of the Turgeon Project to Raptor Resources for AUD$350K + 4,000,000 Raptor shares
Continue to search for exploration/development opportunities in New Brunswick.
Qualified Person
Dominique Gagné, P.Geo, V-P Exploration of Puma and a qualified person as defined by National Instrument 43-101—Standards of Disclosure for Mineral Projects, has reviewed and approved this release's technical information.
About Puma’s Assets in New Brunswick
Puma has accumulated an impressive portfolio of prospective gold landholdings strategically located close to roads and infrastructure in Northern New Brunswick - the Williams Brook Project and the new Mckenzie Gold Project. Both are 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 work to date has focused on the Williams Brook property, but prospecting and surface exploration work on its other properties have confirmed their potential for significant gold mineralization.
About Puma Exploration
Puma Exploration is a Canadian mineral exploration company with a successful history in Northern New Brunswick, having worked on regional projects for over 20 years. Our focus on finding and growing a pipeline of precious metals projects in New Brunswick, near Canada's Famous Bathurst Mining Camp, is backed by our successful exploration methodology. This methodology combines old prospecting methods with detailed trenching and up-to-date technology such as Artificial Intelligence. It has been instrumental in facilitating an understanding of the region's geology and associated mineralized systems. Armed with geophysical surveys, geochemical data and consultants’ expertise, Puma has developed a perfect low-cost exploration tool to discover gold at shallow depths and maximize drilling results.
The Company is committed to its DEAR business model of Discovery, Exploration, Acquisition and Royalties to generate maximum value for shareholders with low share dilution.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve several known and unknown risks, uncertainties, and other factors that 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. The quarterly and annual reports and the documents submitted to the securities administration describe these risks and uncertainties.
