Mr. Marcel Robillard reports

PUMA EXPLORATION DRILLS 5.11 G/T AU OVER 8.35 METERS WITHIN A BROADER ZONE GRADING 0.82 G/T AU OVER 78.75 METERS AT WILLIAMS BROOK GOLD PROPERTY

Puma Exploration Inc. has released the results from the last six holes drilled within the inaugural drilling program at its Williams Brook gold project located in New Brunswick, an emerging new gold district of Atlantic Canada.

These six holes were collared to verify the continuity of the gold mineralization along strike toward the O'Neil gold zone (holes WB21-13 and WB21-18) and toward the Chubby gold zone (holes WB-14 to WB21-17). These results clearly show that the gold mineralized envelope is open in both directions. The mineralized zone is particularly well recognized toward the Chubby gold zone where hole WB21-16 intersected from surface a broad mineralized and altered zone of 78.75 metres grading 0.82 gram per tonne gold, including a higher-grade core of 5.11 g/t Au over 8.35 metres.

Marcel Robillard, president and chief executive officer of Puma Exploration, commented: "With the complete results in hand from the 2,360 metres of core-oriented maiden drilling campaign that tested the O'Neil gold trend, we now better understand the different parameters of this highly potential new gold discovery. We are very enthusiastic and Puma will continue to build on the success of its systematical and disciplined exploration by uncovering new gold-bearing quartz veining systems along the sediment-rhyolite contact. We have found gold on surface for more than 350 metres of strike to date, and this is not over yet!"

Summary of the inaugural drilling program at Williams Brook

• The holes intersected continuous pervasive alteration and mineralization from surface:
  • WB21-01 grades 1.30 g/t Au over 25.6 metres, including 5.50 g/t Au over 6.4 m;
  • WB21-02 grades 5.50 g/t Au over 50.5 metres, including 46.94 g/t Au over 3.9 m;
  • WB21-03 grades 0.55 g/t Au over 37.6 metres, including 7.81 g/t Au over 2.2 m;
  • WB21-05 grades 1.00 g/t Au over 26.4 metres, including 12.64 g/t Au over 2 m;
  • WB21-06 grades 1.16 g/t Au over 48.7 metres, including 16.92 g/t Au over 2.9 m;
  • WB21-07 grades 0.46 g/t Au over 25.6 metres, including 5.40 g/t Au over 0.9 m;
  • WB21-08 grades 0.46 g/t Au over 25.5 metres, including 8.96 g/t Au over 1.1 m;
  • WB21-09 grades 1.07 g/t Au over 36 metres, including 15.52 g/t Au over 1.7 m;
  • WB21-10 grades 1.07 g/t Au over 14.4 metres, including 4.17 g/t Au over 2 m;
  • WB21-12 grades 1.00 g/t Au over 40.6 metres, including 6.93 g/t Au over 3.8 m;
  • WB21-13 grades 0.30 g/t Au over 49.4 metres, including 7.53 g/t Au over 0.6 m;
  • WB21-14 grades 0.70 g/t Au over 28.4 metres, including 16.7 g/t Au over 1.1 m;
  • WB21-16 grades 0.82 g/t Au over 78.8 metres, including 5.11 g/t Au over 8.4 m;
  • WB21-17 grades 0.35 g/t Au over 110.5 metres, including 4.85 g/t Au over 4.7 m;
• Very-high-grade samples collected at depth are representative of surface grab samples:
  • WB21-02 grades 69.9 g/t Au over one m at 46.5 m down the hole;
  • WB21-03 grades 23.1 g/t Au over 0.65 m at 56.85 m down the hole;
  • WB21-06 grades 72.1 g/t Au over 0.30 m at 47.6 m down the hole;
  • WB21-14 grades 89.1 g/t Au over 0.20 m at 33.6 m down the hole;
  • WB21-16 grades 48.1 g/t Au over 0.60 m at 80 m down the hole;
  • WB21-17 grades 30.1 g/t Au over 0.60 m at 107 m down the hole;
• Significant gold mineralization is extending in the deeper holes:
  • WB21-04 grades 2.84 g/t Au over one m at 140.5 m;
  • WB21-07 grades 3.42 g/t Au over 0.35 m at 149.65 m;
  • WB21-16 grades 25.3 g/t Au over 0.35 m at 88 m;
  • WB21-17 grades 30.1 g/t Au over 0.6 m at 107 m;
• Significant high-grade gold mineralization observed in the rhyolite is now recognized in the sediments thus increasing the potential size of the favourable corridor. These drill intercepts are listed here: 48.2 g/t Au over 0.4 m, 22.2 g/t Au over 0.7 m, 20 g/t Au over 0.5 m, 19.9 g/t Au over 0.5 m and 18.8 g/t Au over 0.5 m.

Current work program at Williams Brook gold project

Puma's technical team continues to better define and extend the gold zones on surface by prospecting, trenching, stripping and intense sampling in preparation for the next drilling campaign. Additional grab samples results are pending, including the discovery of quartz veins with visible gold between the Chubby and the Moose gold zones.

O'Neil gold trend (OGT)

The O'Neil gold trend (OGT) is a pervasive altered and brecciated rhyolite unit hosting significant gold showings and occurrences followed by trenching and drilling over a strike length of 700 metres. The geophysical signature of the OGT is expressed over seven kilometres. The favourable unit (rhyolite) is similar and parallel to the structures hosting the Williams 1 and Williams 2 gold zones where previous operator drilled in 2008, 54.2 g/t Au over 2.8 metres and one g/t Au over 23 metres.

These gold trends are interpreted to be related to a major rifting in the New Brunswick geological events and could represent a low-sulphidation epithermal gold system. Along the OGT, the width of the rhyolite varies from five to 250 metres with an average apparent thickness of 150 metres.

The core-oriented maiden drill campaign was completed on Aug. 20, 2021. It consisted of 18 holes for a total of 2,360 metres that tested a 200-metre segment of the 700-metre-long O'Neil gold trend. The assay results for the 12 first holes are released and all holes intersected significant gold mineralization, including the discovery hole WB21-02 that cut 5.55 g/t Au over 50.15 metres from surface, including 9.88 g/t Au over 8.60 metres and 46.94 g/t Au over 3.85 metres.

Qualified persons

Dominique Gagne, PGeo, independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. Neither 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. Mr. Gagne is independent of the company.

Quality assurance/quality control (QA/QC)

Rock samples were bagged, sealed and sent to the facility of ALS Chemex in Moncton, N.B., where each sample is dried, crushed and pulped. The samples were crushed to 70 per cent less than two millimetres, riffle split off one kilogram, pulverize split to better than 85 per cent passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Other screen sizes available. Duplicate 50-gram assay on screen undersize. Assay of entire oversize fraction.

About Puma Exploration Inc.

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the famous Bathurst mining camp in New Brunswick, Canada. Great efforts will be made by the company in the coming years to deploy its DEAR strategy (development, exploration, acquisition and royalties) in order to generate maximum value for shareholders with low shares dilution.

We seek Safe Harbor.