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Puma Exploration Increases Its Williams Brook Landholdings

by Insidexploration
April 11, 2023
in News Room, PUMA, PUMA News
0
Puma Exploration Increases Its Williams Brook Landholdings

RIMOUSKI, Quebec, Feb. 01, 2022 – Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF) (the “Company” or “Puma”) is pleased to report that it has signed a definitive agreement to acquire 100% interest in 30 claims (the “South-East Moose Brook Property”) contiguous to its flagship Williams Brook Gold property.

The acquisition adds by 662 ha to the Williams Brook North land package for a total of 20,662 ha (see Figure 1). Williams Brook returned 5.55 g/t gold over 50.15 metres in its inaugural drilling program in 2021 (see Sept. 15, 2021 News Release) and remains the focus of the Company’s 2022 exploration program. The new claims cover a very prospective area that has seen little exploration in the past.

https://ml.globenewswire.com/Resource/Download/d4ac6937-b649-48e0-806a-41f458e8b9f5?size=0
Figure 1: Puma’s landholdings in northern New Brunswick 

Puma’s properties are located in an emerging Gold District with great potential. To ensure its control of the area, the Company secured the most prospective claims surrounding the core of the Williams Brook property.

“This new land addition further consolidates our considerable landholdings in the area. We’ve increased the overall footprint of the Williams Brook property and secured highly prospective and underexplored areas,” stated Marcel Robillard, President and CEO.

Over the past 15 months, the Company completed several transactions to connect a patchwork of mining claims held by different landowners. Most of these have seen little to no modern exploration work and have never been consolidated into a contiguous land package before.

ACQUISITION TERMS

To acquire a 100% interest in the South-East Moose Brook property (30 claims), Puma agrees to issue the Vendor on closing:

a)   50,000 common shares of the Company and a C$10,000 cash payment;
b)   50,000 common shares of the Company on or before the first anniversary of the signing of the agreement;
c)   100,000 common shares of the Company on or before the agreement’s second anniversary.

Additional performance payments to the Vendor:

1)   Cash payment of C$25,000 upon a positive preliminary economic assessment (PEA to be defined in the definitive agreement);
2)   Cash payment of C$50,000 upon a positive feasibility study (FS to be defined in the definitive agreement);
3)   One-time cash payment of C$100,000 upon commercial production (commercial production to be defined in the definitive agreement).

The Vendor will retain a 2% net smelter return (“NSR”) royalty on any commercial production from the property. Fifty percent of the NSR, or 1%, may be purchased by Puma for $1 million. Puma retains the right of first refusal on the remaining 1% NSR royalty retained by the Vendor. The agreement is subject to the approval of the TSX Venture Exchange.

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious metals projects located near the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. The Company is committed to its DEAR strategy (Development, Exploration, Acquisition and Royalties) to generate maximum value for shareholders with low share-dilution.
Connect with us on Facebook / Twitter / LinkedIn

Visit www.explorationpuma.com for more information or contact:

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

Mia Boiridy,
Head of Investor Relations and Corporate Development, (250) 575-3305; mboiridy@explorationpuma.com 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept 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 a number of known and unknown risks, uncertainties and other factors which 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. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.

Tags: #Exploration#GoldPUMA ExplorationTSX.V: PUMAWilliams Brook Gold
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The content published on Insidexploration.com is based on current events, historical data, company news releases, sedar filings, technical reports and information provided by the companies we work with. These publications may contain forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.   The publications on Insidexploration.com are for informational and entertainment purposes only and are not a recommendation to buy or sell any security. Always do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Please be sure to read company profiles on www.SEDAR.com for important risk disclosures. 

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CanadaNickel avatar; Canada Nickel Company @CanadaNickel ·
25 May 1661813174906093624

We have completed 18 holes at the Sothman property, with 11 of the holes targeting the Sothman West area and ten of the 11 holes encountering Ni mineralization. See highlights below.

Read more here: http://ow.ly/AquG50Ox2ub

$CNC.V $CNIKF #Nickel #NickelExploration #Drilling

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.@CanadaNickel reported drill results from regional targets, including assay results from the Sothman and Midlothian targets & observations from the Mann Northwest project. These are positive results that further confirm $CNC’s exploration model: http://ow.ly/uzTY50OwF8q #Nickel

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26 May 1662123562663288833

Thanks @allanbreports for your inaugural report. Looking forward to working with you and introducing your readers to $PUMA.v #staytuned #goldexploration #resourceinvesting #newbrunswick

Thanks @allanbreports for your inaugural report. Looking  forward to working with you and introducing your readers to $PUMA.v #staytuned #goldexploration #resourceinvesting #newbrunswick
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Puma Exploration Has Hit High-Grade To Bonanza-Grade Gold In A Series Of Parallel Zones Open At Depth
@ExplorationPuma

I’m seeing a very similar market for junior gold stocks as I saw back in the early days of the 2001 to 2011 gold and metals bull market. Basically, you could… https://twitter.com/i/web/status/1662102678942494721

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26 May 1662127461591547904

$ARH $ARH.V #COM #OOTT #News

Joe DeVries setting the table with team building

“Altima Resources Ltd. has appointed Dr. Sabin Boily and Dr. Bob Mummery to the board of technical advisers.”

@The_Woodi @maikan5

https://www.stockwatch.com/News/Item/Z-C!ARH-3412595/C/ARH

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25 May 1661747923099725830

News: @ExplorationPuma $PUMA Focused on Building a Gold Camp at its Williams Brook Gold Project

Puma’s President and CEO Marcel Robillard commented: “We continue to believe that the Williams Brook Gold Project is highly prospective for additional gold discoveries. Our work is… https://twitter.com/i/web/status/1661747923099725830

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24 May 1661361711050289153

Canada Nickel Announces New Discovery at Mann Northwest Property, Provides Update on Regional Drilling at Midlothian and Sothman
http://ow.ly/XcZO50OvnQ0

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