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Puma Exploration Reports Up to 371 G/T Gold in Surface Rock Samples*

Figure 1: Location of reported grab samples at the OGT and associated first priority drilling targets

Location of reported grab samples at the OGT and associated first priority drilling targets
Location of reported grab samples at the OGT and associated first priority drilling targets
Location of reported grab samples at the OGT and associated first priority drilling targets

Figure 2: Samples collected at surface at the OGT

Samples collected at surface at the OGT
Samples collected at surface at the OGT
Samples collected at surface at the OGT

Figure 3: Similarity between surface grab samples and core samples

Similarity between surface grab samples and core samples
Similarity between surface grab samples and core samples
Similarity between surface grab samples and core samples

RIMOUSKI, Quebec, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF) (the "Company" or "Puma") is pleased to report that it has identified additional high-grade gold targets at its Williams Brook Gold Project located in New Brunswick, Atlantic-Canada. A grab sample returned 371.00 g/t Au*, the highest gold-grade reported to date. Today's results are part of Puma's Fall 2021 stripping program at the O'Neil Gold Trend ("OGT"), where many new quartz veins were discovered and sampled (see Figure 1). Based on the Company's previous success drilling high-grade gold areas identified at surface (grab sample* of 240.00 g/t Au returned 5.55 g/t Au over 50.15 m at depth, see Sept. 15, 2021 News Release), this high-grade gold area is the first priority target of Puma's 2022 10,000 metres drilling program.

Figure 1: Location of reported grab samples at the OGT and associated first priority drilling targets accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1bc203ba-c43a-4e7c-ad78-c19493b5e6ce

"The consistent discovery of high-grade gold mineralization at Williams Brook is very exciting considering the imminent launch of our 2022 10,000 metres drilling Program. The presence of significant and pervasive gold at surface along the favourable lithological contact at the O'Neil Gold Trend indicates that our model is sound." Notes Réjean Gosselin, Executive Chairman and Director of Puma Exploration.

The Williams Brook Gold Project is located within a potential new gold district with highly prospective but underexplored areas. The quartz veins containing the high-grade gold are similar over the entire 750 metres-long OGT (see Figure 2). The high-grade samples reported today (370.00 g/t Au, 60.60 g/t Au, 28.40 g/t Au and 24.90 g/t Au)* are part of 150 new assay results received from the lab. Results from another 550 surface samples collected last fall are pending and will be released when received.

Figure 2: Samples collected at surface at the OGT accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/718cc5ba-a9ad-4cb5-b9ff-6ef86c3ffbf4