Mr. Marcel Robillard reports

CLARIFICATION RE: NEWS RELEASE - PUMA EXPLORATION ADDS THE CHESTER VMS DEPOSIT TO ITS BATHURST MINING CAMP PORTFOLIO OF PROPERTIES

Puma Exploration Inc. has provided clarification on its news release issued on Feb. 12, 2019. At the request of IIROC, the company wishes to clarify certain disclosures in its Feb. 12, 2019, news release titled, "Puma Exploration Adds the Chester VMS deposit to its Bathurst Mining Camp Portfolio of Properties." To clarify the disclosures of the current "mineral resources" and the "historical estimates," as defined by National Instrument 43-101, an updated table is provided to clearly differentiate the categories.

The only current mineral resources are estimated on the Murray Brook deposit (filed on SEDAR on Feb. 20, 2017). The Murray Brook deposit has a measured mineral resource of 3.68 million tonnes grading 5.57 per cent zinc, 1.87 per cent lead, 0.36 per cent copper, 70.5 grams per tonne silver and 0.56 gram per tonne gold, plus indicated mineral resources of 1.6 million tonnes grading 4.48 per cent zinc, 1.63 per cent lead, 0.7 per cent copper, 65.3 grams per tonne silver and 0.88 gram per tonne gold (for a combined measured and indicated resource of 5.28 million tonnes averaging 5.24 per cent zinc, 1.8 per cent lead, 0.46 per cent copper, 68.9 grams per tonne silver and 0.65 gram per tonne gold containing approximately 610 million pounds of zinc, 209 million pounds of lead and 11.7 million ounces of silver, effective as of Dec. 21, 2016).

All the other deposits held in Puma's portfolio of properties in northern New Brunswick are considered historical estimates, even if they were prepared according to the NI 43-101, and should be updated to be considered as current mineral resources.

                 SIGNIFICANT DEPOSITS HELD BY PUMA WITH HISTORICAL ESTIMATES IN NORTHERN NEW BRUNSWICK
 
Deposits           Tonnes  Zn (%) Pb (%) Cu (%) Au (g/t) Ag (g/t)           Description/released               Ownership

Murray Brook
Total          17,170,000   2.42   0.88   0.46     0.55     38.0  NI 43-101 (M+I): July 19, 2013       TV option for 25%
Oxide           1,280,000   2.57   0.84   0.93     0.38     38.4  NI 43-101 (M+I): July 19, 2013       TV option for 25%
Chester
West zone       1,400,000      -      -   1.38        -      3.5  NI 43-101 (M+I): March 7, 2014  Option to acquire 100%
West zone       2,089,000      -      -   1.26        -        -  NI 43-101 (inf): March 7, 2014  Option to acquire 100%
Turgeon
Zinc zone       2,000,000   4.00      -   1.50        -        -  1983, Esso Minerals (200 holes)                   100%
Powerline zone
Legacy            520,000      -      -   1.04        -      6.8  NI 43-101 (inf): June 25, 2015                    100%
Ann's Creek
Hache             364,000   1.43   0.70      -     0.53     94.9  NI 43-101 (ind):  Feb. 8, 2008                    100%
Hache             442,000   1.06   0.66      -     0.31     55.1  NI 43-101 (inf):  Feb. 8, 2008                    100%
Shaft             345,000   3.61   2.01      -        -    103.1  1970s, previous operators (N/A)                   100%
Pine Tree         105,000   3.40   2.82      -        -     72.0  1970s, previous operators (N/A)                   100%
Half Mile          25,000   3.90   4.50      -        -     77.0  1970s, previous operators (N/A)                   100%
Beresford Cu      200,000      -      -    2.0        -        -  1970s, previous operators (N/A)                   100%
Millstream Fe     300,000      -      -    1.5        -        -  1970s, previous operators (N/A)                   100%            

Puma has not taken steps to identify what work needs to be undertaken to upgrade or verify the historical resource estimate as current mineral resources or mineral reserves. A qualified person from Puma or independent third party has not done sufficient work to classify the historical resource estimate as a current resource estimate or current mineral reserves. Puma is not treating the historical resource estimate as a current resource estimate or mineral reserves. There is no certainty that additional work will replicate the initial results.

Chester strategy

Puma's main objective with the acquisition of the Chester deposit is to confirm and upgrade the current historical resources as well as to define additional zones along strike and in the entire property. It is important to note that the currently defined deposit starts at surface and extends to a depth of only 50 metres in the existing resource estimates, no zinc assays having been done. Puma's geologists will begin an exploration program shortly to compile the existing information in order to outline exploration targets. This will be followed with sampling, prospecting, mapping and geophysical surveys to determine priority drill-ready targets.

The Chester copper deposit

The Chester property is known to contain a copper deposit. There are three zones included in the main deposit: the central zone, the east zone and the west zone (copper stringer) located at surface. Only the west zone has been included in the NI 43-101 resource calculation in 2008 and updated in 2014 to reflect changes in metal prices and mining scenarios. The copper deposit has historical measured and indicated resources of 1.4 million tonnes grading 1.38 per cent copper and 3.5 grams per tonne silver, and inferred resources of 2,089,000 tonnes grading 1.26 per cent copper (assayed for copper only), as reported in the NI 43-101 technical report entitled, "Technical Report -- Chester Copper Property New Brunswick Canada," (effective March 7, 2014) and prepared by Robert C. Sim, PGeo, for Explor Resources and filed on SEDAR. Puma is not treating the historical resource estimate as a current resource estimate or mineral reserves, as it has not taken steps to identify what work needs to be done to verify, upgrade or reclassify the historical resources estimate using a qualified person from Puma or independent third party.

About Puma Exploration Inc.

Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The company's major assets consist of an option to acquire 100-per-cent beneficial interest in the Murray Brook property, the Turgeon zinc-copper project and the Nicholas-Denys project, all located in the Bathurst mining camp of New Brunswick. Also, Puma owns an equity interest in BWR Resources, which explores in Manitoba. Puma's objective is to focus its exploration efforts in New Brunswick.

Qualified persons

Technical information provided in this news release was prepared and reviewed by Marcel Robillard, PGeo, president, and Dominique Gagne, PGeo, vice-president of exploration of Puma Exploration, qualified persons as defined by NI 43-101. Mr. Robillard and Mr. Gagne are not independent of the company, as both are officers and shareholders thereof.

We seek Safe Harbor.