Mr. Marcel Robillard reports

MURRAY BROOK MINERALS, PUMA'S SUBSIDIARY, CLOSES $220,000 PRIVATE PLACEMENT

Puma Exploration Inc.'s subsidiary, Murray Brook Minerals Inc. (MBM), has closed a non-brokered offering consisting of 4.4 million flow-through (FT) common shares of MBM at a price of five cents per FT share for aggregate gross proceeds of $220,000. Following the FT offering, Murray Brook Minerals has now 28,044,165 common shares issued and outstanding, with no warrants or options. Puma holds 23,644,165 common shares of MBM, representing approximately 84.3 per cent of its issued and outstanding shares.

The proceeds of the FT offering will be used to advance the Legacy project, a copper and silver asset, previously held by Puma and contiguous to Puma's McKenzie gold project in northern New Brunswick.

As part of Puma's successful DEAR (discovery, exploration, acquisition and royalties) strategy, the Murray Brook Minerals business model is to acquire prospective strategic and critical metals mineral properties with excellent discovery potential that a stand-alone public company can explore and develop. This business model provides Puma's investors with equity interests in another explorer and developer and exposure to other commodities while Puma continues to focus on its gold assets.

As a reminder, Puma spun out in 2021 its copper assets to Canadian Copper under an option transaction and, subsequently, the Puma shareholders received common shares of Canadian Copper upon its listing on the Canadian Securities Exchange in 2022. Puma currently owns a 9.5-per-cent stake in Canadian Copper. Over the past three years, Canadian Copper has developed and grown its assets, and has recently announced the results of a positive preliminary economic assessment (PEA) (see Canadian Copper's news release dated May 22, 2025).

"We are thrilled to have a brownfield project close to our New Brunswick exploration offices with a copper/silver deposit outcropping at surface. Our effective low-cost exploration technique will help generate new drill-ready targets and potentially expand the existing Legacy deposit. As Canadian Copper in 2022, Murray Brook Minerals will develop this asset and other potential projects. With this transaction, Puma enhances shareholder valuation while minimizing dilution," mentioned Marcel Robillard, president and chief executive officer of Puma Exploration.

The Legacy project

The Legacy project is contiguous to the McKenzie gold project in northern New Brunswick and consists of two claim blocks covering 10,100 hectares. The property is easily accessible, located less than 15 kilometres from St-Quentin, where Puma has its field exploration office.

The underexplored Legacy project has a high potential for discoveries. The property hosts high-grade copper-silver skarns similar to Osisko Metals' Gaspe copper property in Quebec. The Legacy and Gaspe copper projects exhibit many similarities; they are part of the same Appalachian orogenic system, are of the same age, and exhibit the same mineralization and metal associations.

Legacy hosts a copper and silver deposit, the Legacy deposit, with a historical resource estimate reported in 2015 (independent technical report for the Legacy project, Restigouche county, New Brunswick, Canada, Marek Nowak, PEng, Chris Barrett, CGeol, Tessa Scott, BA, effective date of June 22, 2015). A qualified person on behalf of Puma has not reviewed or verified the mineral resource estimate, therefore it is considered historical in nature and is reported solely to provide an indication of the magnitude of mineralization that could be present on the property.

The true thickness of the copper/silver deposit varies from 30 metres to 50 metres, with mineralization occurring over large intervals. The mineralized zone has been delineated at surface over a distance of about 200 metres and drilled to a depth of 400 metres, and it remains untested below that depth.

Puma plans to complete follow-up work on the historic drill hole intersections showing significant copper/silver mineralization over long intervals. It will also use the same proven low-cost exploration strategy, used at the Williams Brook project, to identify new prospective targets on the property.

Highlights from historical drilling*

In 1970, drill hole No. 17 returned a continuous section of 59.34 metres at 1.22 per cent copper (Cu) with three important copper-bearing skarn zones:

1. 3.16 per cent Cu over 11.28 metres from 152.40 to 163.68 metres;
2. 1.84 per cent Cu over 10.42 metres from 167.64 to 178.06 metres;
3. 1.22 per cent Cu over 13.47 metres from 188.98 to 202.45 metres.

The gold potential at Legacy was never assessed, although hole MC-92-20 returned 4.00 metres of 0.26 per cent Cu, 6.08 grams per tonne (g/t) silver (Ag) and 3.07 g/t gold (Au) from 43.00 metres to 47.00 metres downhole. Puma's detailed data compilation will study the metals zonation at Legacy and assess its copper/silver/gold potential.

* Independent technical report for the Legacy project, Restigouche county, New Brunswick, Canada, Marek Nowak, Peng, Chris Barrett, CGeol, Tessa Scott, BA, effective date of June 22, 2015.

Use of proceeds and details

The gross proceeds of the FT shares sold under the FT offering will be used for Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) that qualify as a flow-through mining expenditure for purposes of the Income Tax Act (Canada) related to the exploration program to be conducted on properties located in the province of New Brunswick. MBM will renounce such Canadian exploration expenses with an effective date of no later than Dec. 31, 2025.

The proceeds of the FT offering will be used for data compilation, issuing a new NI 43-101-compliant technical report, targeting and excavation operations to locate drilling targets at Legacy. The fieldwork program will cost at least $150,000.

Murray Brook Minerals paid $12,250 of finders' fees to arm's-length finders. The FT offering constitutes an exempt transaction under the policies of the TSX Venture Exchange. All securities issued under the FT offering will be subject to an indefinite hold period in accordance with applicable securities laws.

About Puma's assets in New Brunswick

Puma has accumulated an impressive portfolio of prospective gold landholdings strategically located close to roads and infrastructure in northern New Brunswick -- the Williams Brook project and the McKenzie gold project. Both are 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. Puma's work to date has focused on the Williams Brook property, but prospecting and surface exploration on its other properties have confirmed their potential for significant gold mineralization.

Qualified person

The scientific and technical content of this news release has been prepared, reviewed and approved by Dominique Gagne, PGeo, vice-president of exploration, who is a qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

About Puma Exploration Inc.

Puma Exploration is a Canadian-based mineral exploration company focused on finding and growing a pipeline of precious metals projects in New Brunswick, near Canada's famous Bathurst mining camp. Puma has a long history in northern New Brunswick, having worked on regional projects for over 20 years. Puma's successful exploration methodology, which combines old prospecting methods with detailed trenching and up-to-date technology, such as artificial intelligence, has facilitated an understanding of the region's 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. MBM is a wholly owned subsidiary of Puma. The private company is focused on identifying prospective projects in northern New Brunswick that could be monetized to the benefit of Puma shareholders.

Puma is committed to its DEAR business model of discovery, exploration, acquisition and royalties to generate maximum value for shareholders with low share dilution.

We seek Safe Harbor.