Mr. Marcel Robillard reports

PUMA EXPLORATION RECEIVES FIRST ANNIVERSARY OPTION PAYMENT FROM CANADIAN COPPER INC.

Puma Exploration Inc. has received the first anniversary option payment from Canadian Copper Inc. as outlined in the option agreement dated June 30, 2021. Canadian Copper elected to issue 3,637,873 common shares of the company at 8.25 cents per share (the 20-day VWAP (volume-weighted average price) from June 3, 2023) for a $300,000 first anniversary option payment. CCI's largest shareholder is Puma, with 10,001,968 shares representing 13.48-per-cent ownership. Prior to the first anniversary option payment, Puma owned 6,364,095 common shares of CCI, representing approximately 9-per-cent ownership.

Under the option agreement (see July 6, 2021, news release), Canadian Copper can earn a 100-per-cent interest in five copper properties, some with existing historical resources, by making cash and/or share payments to Puma over the term of the agreement. Another two payments of $1-million each over the next two years are expected to execute the deal.

Since going public in July, 2022, Canadian Copper's strategic objective has been to secure and continue to grow its mineral inventory of critical minerals in New Brunswick's famous Bathurst mining camp. As announced on June 13, 2023, the company is acquiring a 72-per-cent interest in the Murray Brook deposit, the largest undeveloped deposit in the province. With this acquisition, Canadian Copper is now the leading explorer for base metals in New Brunswick.

Puma's president and chief executive officer, Marcel Robillard, commented: "The focus on green energy transition has highlighted the need to develop copper mines in Canada. Puma spun off its non-core copper assets to Canadian Copper in 2021 to ensure those assets could be developed appropriately, while Puma focuses on gold exploration. Our resulting stake in CCI provides us and our shareholders exposure to copper exploration while allowing us to focus on building a gold camp at our Williams Brook gold project. With a fully funded 2023 exploration program and work well under way, one of my objectives remains to monetize Puma's non-core assets to create additional value for our shareholders."

This news release is being issued in accordance with National Instrument 62-103 -- the Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated June 28, 2023. The early warning report in connection with the acquisition of the common shares has been filed on SEDAR under CCI's issuer profile.

Puma has acquired these securities for investment purpose only. Puma may acquire additional shares or sell shares in the current business. Puma does not have any plan as now to add or dispose any Canadian Copper securities.

About Puma Exploration Inc.

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

We seek Safe Harbor.