Mr. Marcel Robillard reports

PUMA EXPLORATION ANNOUNCES DATE FOR ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

Puma Exploration Inc.'s 2022 annual and special meeting of shareholders will be held on Tuesday, Aug. 30, 2022, at 2 p.m. EDT.

Again, this year, the company will hold the meeting via a live webcast, whereby all shareholders and their proxy holders, regardless of geographic location, will have an equal opportunity to participate. Shareholders and proxy holders will not be able to attend the meeting in person. Further details and instructions about virtual participation are included in the meeting materials available on the company's website and under Puma's profile on SEDAR.

New rolling 10-per-cent stock option plan

At the meeting, shareholders will be asked to vote on a new rolling 10-per-cent stock option plan that was approved by Puma's board of directors. TSX Venture Exchange approval is pending. The new plan will replace the company's fixed-number stock option plan. Under the new plan, the board of directors may grant stock options to directors, officers, employees and consultants of the company up to a maximum of 10 per cent of the total number of issued and outstanding shares of the company from time to time, less any shares reserved for issuance under the fixed-number option plan. The management information circular for the 2022 annual and special meeting of shareholders provides more details about the new plan.

Update on additional warrants exercise

Outstanding warrants issued in connection with Puma's August, 2020, private placement financing (see news release dated Aug. 4, 2020) have been exercised, resulting in aggregate proceeds of $394,810. The warrants were exercisable into one common share of the company at 15 cents per common share and expired on Aug. 4, 2022. No commission was paid in connection with the exercise of the warrants. The company will use the proceeds to continue exploration on its 100-per-cent-owned Williams Brook gold project in New Brunswick, Atlantic Canada, and for general working capital purposes.

Puma has a total of 118,970,321 shares issued and outstanding as of today.

About Puma Exploration Inc.

Puma Exploration is a Canadian-based mineral exploration company with precious metals projects located near the Famous Bathurst mining camp (BMC) in New Brunswick, Canada. The company is committed to its DEAR (development, exploration, acquisition and royalties) strategy to generate maximum value for shareholders with low share dilution.

We seek Safe Harbor.