Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the 'Company' or 'Puma') is pleased to announce the results for the first eleven (11) holes of its 2023 drilling program at its 100%-owned Williams Brook Gold Project in Northern New Brunswick.

These holes were first reported on August 2, 2023, and are not part of the series that returned more than 100 specks of visible gold ('VG') on initial inspection. Notwithstanding, seven (7) of the 11 holes reported today returned significant gold, with four (4) holes intersecting multiple mineralized high-grade gold quartz veins. Hole WB23-125 intersected fifteen (15) separate quartz veins and returned 90 m of 0.70 g/t gold from surface (at 2.90 m) with an impressive 50.85 m of 1.05 g/t gold starting at 42 m depth, including a 4.50 m interval of 6.46 g/t gold at 75 m depth.

All 11 holes intersected the targeted quartz veins, with assay results returning anomalous gold (0.1 g/t) to 42.60 g/t. Results indicate substantial continuity and depth extension of the gold mineralization at the Lynx Gold Zone. Also, broad mineralized zones in previously untested areas - 0.5 m of 16.1 g/t gold in WB23-128, 10.10 m of 3.30 g/t gold in WB23-129, 19.35 m of 0.54 g/t gold in WB23-131, 4.15 m of 3.18 g/t gold in WB23-132 indicate that additional gold chutes exist. Assay results for the remaining 13 holes of the 2023 drilling are pending and will be released when received.

Puma's President and CEO Marcel Robillard commented, 'The first holes of our Phase 1 2023 campaign were drilled to map and test the newly identified veins discovered at surface at Lynx earlier this year and the depth continuity of the interpreted high-grade shoots at Lynx. Many holes hit multiple quartz veins downhole, often starting at surface. Hole 125 was drilled to 170 m depth, and we saw VG in 4 veins from 55 to 79 m depth. Those returned grades of 11.20 to 42.60 g/t gold over 0.35 to 0.80 m width.

What's most impressive is we intersected 15 veins, and they all contributed gold, regardless of whether they contained VG. That's significant because it highlights the continuity of mineralization at Lynx and the potential for a large mineable system that remains open along strike and depth. Assay results for the remaining holes drilled deeper that returned numerous VG specks should be in soon. We expect they will extend the width and depth of the gold chutes and continue to build volume at Lynx.'

About the Williams Brook Gold Project

Puma's flagship Williams Brook Gold Project comprises six (6) claims blocks covering more than 44.650 ha in Northern New Brunswick-an established and mining-friendly jurisdiction near paved roads and with excellent infrastructure nearby. 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.

Since 2021. and with less than $10M of exploration investment. Puma has made multiple gold discoveries at the Williams Brook property and believes that the property hosts a large orogenic/epithermal gold. Puma's ongoing exploration programs are focused on building a gold camp in Northern New Brunswick.

(C) 2023 Electronic News Publishing, source ENP Newswire