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Tuesday, 02/28/2023 8:40:26 AM

Tuesday, February 28, 2023 8:40:26 AM

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$PUMXF Puma Exploration Receives Approval for a 4,000 T Bulk Sample at Lynx Zone and Welcomes Dr. Simon Dominy to its Advisory Committee

RIMOUSKI, Quebec, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the “Company” or “Puma”) is pleased to announce that it has received from New Brunswick’s Department of Natural Resources and Energy Development, the authorization to proceed with a 4,000 tonnes bulk sample at the Lynx Gold Zone (“LGZ”).

Dr. Simon Dominy, an expert in the design and implementation of bulk sampling programs, will join Puma’s advisory team to supervise the Company’s Bulk Sampling Program (“BSP”) to ensure proper planning and success.

Bulk samples are undertaken to de-risk a project by verifying local grade estimates and metallurgical test work from drill holes and/or channel samples. They also explore the scale-up potential and metallurgical responses and provide geological and geotechnical information on the extraction area. The high-grade gold mineralization at Lynx is not homogeneous but rather exhibits the “nugget effect”. Puma’s fully permitted 4,000 tonnes bulk sample will be collected from several different areas at the Lynx Gold Zone (see Figure 1) to better characterize the zone's mineralization and potential local average gold grade.

Marcel Robillard, President, and CEO commented “The 12,000 m we’ve drilled at the Lynx Gold Zone returned impressive grades, but we’d have to drill hundreds of thousands of metres to gain some certainty on the average grade of the zone. By running the bulk sample this year, we can get a better representation of the local grade around the sampling site and how it reconciles with the drilling’s predicted grade. This outside-the-box thinking will place Puma well ahead of our industry’s typical exploration timeline and be a key milestone in the advancement of the Williams Brook Gold Project.”

“The bulk sample will also move us closer to demonstrating whether we can potentially have a profitable mining operation at Williams Brook. If we can extract the gold on-site with gravity alone, we can significantly cut costs, reduce the environmental impact and streamline permitting. This would be a fantastic outcome for all stakeholders, the future of mining in New Brunswick, and our shareholders,” added Marcel.

The bulk sample is considered an exploration tool to be conducted in parallel with the upcoming planned drilling program which will begin shortly. The initial 3,000 metres of drilling will target the high-grade gold shoots interpreted from the 10,000 metres drilling program that was completed in 2022.