Mr. Marcel Robillard reports

PUMA EXPLORATION CLOSES $625,000 CHARITY FLOW-THROUGH PRIVATE PLACEMENT

Puma Exploration Inc. has closed a non-brokered placement consisting of five million charity flow-through (CFT) units at 12.5 cents per CFT unit for gross proceeds of $625,000. Each CFT unit is composed of one charity flow-through share and one-half of one common share purchase warrant. Each whole warrant is exercisable to purchase one common share of the company at 15 cents per share until March 28, 2026.

The warrants are subject to an acceleration clause that entitles the company to provide notice to holders that they will expire 30 days from the date the company delivers the acceleration notice. The company can only provide the acceleration notice if the closing price of the company's common shares on the TSX Venture Exchange is equal to or greater than 30 cents for 30 consecutive trading days. The acceleration notice can be provided at any time after the statutory hold period and before the expiry date of the warrants.

The net proceeds of the CFT units will be used to incur eligible Canadian exploration expenses and flow-through mining expenditures, as defined under the Income Tax Act (Canada), that will be renounced in favour of the purchasers with an effective date of no later than Dec. 31, 2024. The proceeds will be used to advance exploration at the Williams Brook gold project and the company's assets in northern New Brunswick.

In connection with the closing of the private placement offering, the company paid no cash finder's fees nor finder warrants. All securities issued in connection with the private placement are subject to a four-month-and-one-day hold period expiring on July 29, 2024. The private placement has received conditional approval from the TSX Venture Exchange.

About the Williams Brook gold project

Puma's flagship Williams Brook gold project comprises four properties covering more than 50,000 hectares in northern New Brunswick -- an established and mining-friendly jurisdiction near paved roads and with excellent infrastructure nearby. The land package is located near the Rocky Brook Millstream fault (RBMF), a major regional structure formed during the Appalachian orogeny and a significant control for gold deposition in the region.

About Puma Exploration Inc.

Puma Exploration is a Canadian-based mineral exploration company with precious metals projects in New Brunswick, near Canada's Famous Bathurst mining camp (BMC). Puma has a long history in northern New Brunswick, having worked on regional projects for over 15 years. As a first-mover, the company quickly and strategically accumulated an impressive portfolio of prospective gold landholdings in the area. Puma's successful exploration methodology combines old prospecting methods with detailed trenching and up-to-date technology such as artificial intelligence (AI) to facilitate an understanding of the geology and associated mineralized systems. Armed with geophysical surveys, geochemical data and consultants' expertise, Puma has developed a perfect low-cost exploration tool to discover gold at shallow depths and maximize drilling results.

The company is also 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.