Puma exploration completes drilling at Lynx in 2025, VG observed in several holes

Highlights

• In the Lynx Gold Zone (“LGZ”), 3,662 m were drilled in 15 boreholes.
• Visible gold (“VG”) was observed in 6 separate drill holes.
• All but one hole intercepted the favorable contact between rhyolite and sediment.
• Altered quartz veins containing sulfides and visible gold were intercepted in fresh rock beneath the surface oxidized units.
• WB25-181 intersected multiple VG grains at a depth of 355 m downhole, representing the deepest VG occurrence to date (to see September 4, 2025 News item).
• WB25-190 exhibits intense quartz veins with sulphides in the first 50 m and VG grains at a depth of 43.85 m downhole, extending the Lynx Gold Zone by 200 m to the southwest.
• The gold mineralization at Lynx now extends to 800m along the strike, 50m wide and a vertical depth of 250m, and remains open in all directions.

Puma Exploration Inc. (TSXV: PUMA,OTC:PUMXF) (OTCQB: PUMXF) (the “Company” or “Puma”) is pleased to announce that it has completed its 2025 drill program in the Lynx Gold Zone of its Williams Brook Gold Project in Northern New Brunswick. Visible gold (VG) was observed in several drill holes, extending the boundaries of the known mineralized zone to 800 meters along strike, 50 meters wide and 250 meters deep. The tests are pending and will be released as they are received.

Marcel Robillard, president and CEO of Puma, said: “We are happy with what we see in the drill core. We have successfully achieved the mineralization we targeted, and the occurrence of visible gold in these exit holes is significant. Preliminary observations suggest that the Lynx Gold Zone is larger than previously thought and that future drilling could expand it further.

The 3,662 m drill campaign was fully funded by the option holder, Kinross, and is part of its C$2 million 2025 exploration commitment. The Puma/Kinross joint technical committee established the drill program as a follow-up to high-grade gold-bearing quartz veins discovered by Puma’s previous trenching and drilling at the LGZ from 2021 to 2023.to read Puma’s previous news items, click here).

The 2025 drilling successfully intersected the targeted mineralization, providing further insight into structural patterns and lithological contacts at the LGZ. Visible gold in 6 of the 15 holes (Figure 1) was observed in cores drilled outside the known boundaries of the Lynx Gold Zone. Visible gold was intersected underground in hole WB25-190 (43.85 m borehole depth), 150 m southwest of the collared Lynx Gold Zone, while other occurrences of VG were observed much deeper in the holes, up to 355.33 m in hole WB25-181 (Table 1, Figure 1). It is striking that the zone remains open at depth and along the strike to the NE and SW.

Figure 1. Location of 2025 drill holes in the Lynx Gold Zone

To view an enhanced version of this image, visit:
https://images.newsfilecorp.com/files/3398/270444_92bcb008843f3963_001full.jpg

Figure 1. Visible gold observed in drill core

To view an enhanced version of this image, visit:
https://images.newsfilecorp.com/files/3398/270444_92bcb008843f3963_002full.jpg

Figure 1. Visible gold observed in drill core

To view an enhanced version of this image, visit:
https://images.newsfilecorp.com/files/3398/270444_92bcb008843f3963_003full.jpg

Table 1. Coordinates of boreholes and occurrence of visible gold (“VG”)

Ongoing summer scouting program at Williams Brook

As announced on September 4, 2025the summer program included canalization in the Lynx Gold Zone, as well as prospecting, trenching and excavations across the entire Williams Brook Project, including the Jonpol/Portage properties. The results are expected to be announced soon.

Grant of options

In accordance with the stock option plan and pending regulatory approval, Puma has granted a total of 4.5 million incentive stock options (“Options”) to company directors, certain advisors and consultants, which will vest immediately. These options are exercisable at $0.18 per common share until October 15, 2029.

About the Williams Brook Project

The Williams Brook Project (40,225 ha), with an option for Kinross Gold Corp (see October 24, 2024 News item), includes the Williams Brook Property, the Jonpol Property and the Portage Property. To acquire a 65% stake in the project, Kinross can fund a minimum of $16.75 million in exploration expenditure over the next five years (including a $2 million firm commitment with a minimum of 5,000 meters of drilling in the first 18 months).

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 facilitating a better understanding of 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.

Contact us Facebook, Xor LinkedIn.
For more information, visit www.explorationpuma.com or contact:

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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270444