Puma Exploration Inc. (TSXV: PUMA,OTC:PUMXF) (OTCQB: PUMXF) (the “Company” or “Puma”) is pleased to announce that Kinross Gold Corporation (“Kinross”) has committed to year 2 of its option agreement on the Williams Brook Project, located in northern New Brunswick, Canada. Following the successes of the ongoing exploration program, this renewed strategic commitment highlights the potential of the Williams Brook Gold Project. Year 2 of the Option Agreement includes a minimum work commitment of $3 million, pending approval by the Kinross board of directors. The final budget and program will be announced once confirmed and defined by the technical committee.
The Williams Brook Project (40,225 ha), option given to Kinross Gold Corporation (see October 24, 2024 News item), includes the Williams Brook, Jonpol and the Portage Properties. Under the terms of the Option Agreement, Kinross, subject to certain conditions, has the option to acquire a 65% interest in the Project by financing at least $16,750,000 in exploration expenditures over a period of five (5) years. Kinross will be the operator for the sophomore program.
Puma’s president and CEO Marcel Robillard stated: “Kinross’ continued support validates the potential of our Williams Brook Project. With a strong balance sheet, we are well positioned to accelerate exploration and unlock the next wave of discoveries across our properties.”
About Puma’s assets in New Brunswick
Puma has built an impressive portfolio of potential gold land properties strategically located close to roads and infrastructure in Northern New Brunswick, including 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 major control over gold deposits in the region. Puma’s work to date has focused on the Williams Brook property, but prospecting and surface exploration work on the other properties has confirmed their potential for significant gold mineralization.
About Puma exploration
Puma Exploration is a Canadian mineral exploration company focused on identifying and developing a pipeline of precious metals projects in New Brunswick, near Canada’s Bathurst Mining Camp. Puma has a long history in Northern New Brunswick, working on regional projects for more than 15 years.
Puma’s successful exploration methodology, which combines traditional prospecting methods with detailed trenching and advanced technologies such as artificial intelligence, has played an important role in understanding the region’s geology and associated mineralized systems. Armed with geophysical surveys, geochemical data and the expertise of consultants, Puma has developed a cost-effective exploration tool to discover gold at shallow depths and maximize drilling results.
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Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve various known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Puma to be materially different from those 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 on which the statements are 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.
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