Puma Identifies First Priority Targets Over 7 Km From Airborne Geophysical Survey at Williams Brook Gold Property in New Brunswick, Canada

RIMOUSKI, Quebec, May 06, 2021 (GLOBE NEWSWIRE) -- Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is pleased to report preliminary data and maps from the airborne Mag/Em survey (VTEM) conducted at the Williams Brook Gold property. The geophysical data, from the high-grade Gold O’Neil Trend, revealed a distinct magnetic signature presently shown to be at least 7 km long (see Figure 1). The anomaly (contact between high/low mag) has been confirmed to coincide with the gold mineralization discovered at surface in 2020 which included bonanza grade grab samples up to 241 g/t Au (see news 2021-03-31).

The helicopter-borne geophysical surveys consisted of Mag and EM using the versatile time-domain electromagnetic (VTEM) plus system with Full-Waveform processing. Measurements consisted of Vertical (Z) and In-line Horizontal (X&Y) components of the EM fields using an induction coil and a horizontal magnetic gradiometer using two caesium magnetometers. A total of 1,552 line-kilometers of EM and 1,685 km of magnetic data were acquired (see Figure 2).

The Williams Brook Project survey area was flown in a northwest to southeast (N 130° E azimuth) direction with traverse line spacings of 100 metres. Tie lines were flown perpendicular to traverse lines at 1000m line spacings. The survey identifies multiples targets over the entire Williams Brook Gold property. Geophysical consultants are currently interpreting, filtering and finalizing the interpretation of the entire survey.

Marcel Robillard, president and CEO, stated: "We are very excited to launch our 2021 field program and can’t wait to have the geological team on site with boots on the ground. Now that we have in hand the preliminary data from the VTEM survey, the team has established the first priority targets to discovered new gold zones as we did in 2020 and to expand the 2020 new gold discoveries by stripping and with our first ever drilling program at O’Neil Gold Trend. The technical team is expected to begin field work on May 10^th and the initial work will be directed on the O’Neil Gold Trend.”

High-Grade Selected Grab Samples Assays on the Prolific O’Neil Gold Trend (OGT)*:
O’Neil Gold Zone (VG): Pepitos Gold Zone (VG): Lynx Gold Zone (VG): Chubby Gold Zone: Moose Gold Zone:	128.5 g/t Au, 44.4 g/t Au, 38.8 g/t Au, 32.8 g/t Au, 23.1 g/t Au