Mr. Marcel Robillard reports

PUMA EXPLORATION REPORTS HIGH-GRADE RESULTS FROM SAMPLING AT THE LION GOLD ZONE

Puma Exploration Inc. has released additional high-grade grab samples at the Lion gold zone (LiGZ), including 55.70 grams per tonne (g/t) gold (Au), 54.50 g/t Au, 15.30 g/t Au and 12.70 g/t Au* from the continuing 2025 exploration program at the Williams Brook project in northern New Brunswick. (* The reader is cautioned that grab samples are selective by nature and may not represent the true metal content of the mineralized zone.)

These latest results highlight the potential of the LiGZ that was discovered through prospecting and trenching in 2024. An area that spans 400 metres (m) along strike and 10 to 25 m in width has now been stripped. The 2025 exploration program uncovered several altered and brecciated gold-mineralized quartz veins, up to two metres in width, and numerous veinlets. A total of 390 samples were collected in 2024 (250) and 2025 (140), with 35 per cent returning grades above 0.1 g/t The zone remains open in all directions.

Marcel Robillard, president and chief executive officer, noted: "These exploration results at Lion are reminiscent of the 2020 preliminary sampling at Lynx, where subsequently impressive gold mineralization was intercepted by drilling at depth. Our sampling to date has confirmed a 400 m strike extension. These early exploration results at Lion continue to highlight the scale and continuity of mineralization at Williams Brook. There is significant potential for more discoveries on the property and we continue to work diligently to unlock its full potential."

The recently stripped area will be cleaned to allow for detailed mapping and channel sampling in preparation for further detailed surveys and eventual drilling. A drone magnetic survey was also flown over the stripped area and extended to eight kilometres along strike to map the potential extension of the zone to the east.

Lion gold zone

The LiGZ, discovered in 2024, is closely associated with a major regional structure, the McCormack Brook fault and a mafic intrusive unit. The LiGZ is part of a mineralized structure located about 10 kilometres (km) north of the Lynx gold zone and shares the same geological characteristics. Gold mineralization is found in brecciated quartz veins heavily altered by sericite and limonite and closely associated with an altered mafic intrusive/dike that separates the altered sediments from the fault. The area remains wide open as the McCormack Brook fault is mapped for at least 30 kilometres.

Williams Brook 2025 exploration program update:

• Three thousand five hundred of drilling are under way at the Lynx gold zone.
• Two thousand one hundred thirty-five km of drone magnetic geophysical surveys were completed.
• Five trenches for 299 m were completed at the Cheetah gold zone (ChGZ). The ChGZ was discovered in 2023, three km along strike of the Tiger gold zone, where initial trenching returned 6.69 g/t Au*. Highlights of the 2025 sampling include 4.60 g/t Au* in a newly discovered area. (* The reader is cautioned that grab samples are selective by nature and may not represent the true metal content of the mineralized zone.)
• Eleven trenches for 796 metres were completed at target 2.
• Channel sampling was completed at the Lynx gold zone, with over 400 samples collected.

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 National Instrument 43-101, Standards of Disclosure for Mineral Projects

On-site quality assurance/quality control (QA/QC) measures

Grab samples are bagged, sealed and sent to ALS Chemex in Moncton, N.B., where each sample is crushed and pulped before being fire assayed (Au-ICP21). The remaining coarse reject portions of the samples remain in storage for further work or verification as needed. As part of its QA/QC program, the company inserts external gold standards (low to high grade) and blanks every 20 samples, in addition to standards, blanks and duplicates. All samples over 10 g/t gold are analyzed with a gravity finish (Au-GRA22). Check assays are routinely performed for samples with visible gold to ascertain the gold content of the mineralization zone.

About the Williams Brook project

The Williams Brook project (40,225 hectares (ha)), optioned to Kinross Gold Corp. (see Oct. 24, 2024, news release), comprises the Williams Brook property, the Jonpol property and the Portage property. To earn a 65-per-cent interest in the project, Kinross can finance a minimum of $16.75-million in exploration expenditures over the next five years (including a firm commitment of $2-million with at least 5,000 metres of drilling in the first 18 months).

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, including the Williams Brook project and the new 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.

About Puma Exploration Inc.

Puma Exploration is a Canadian mineral exploration company focused on identifying and developing a pipeline of precious metals projects in New Brunswick, near Canada's renowned Bathurst mining camp. Puma has a long history in northern New Brunswick, having worked on regional projects for over 15 years. Puma's successful exploration methodology, which combines traditional prospecting methods with detailed trenching and cutting-edge technologies, such as artificial intelligence, has been instrumental in facilitating an understanding of the region's geology and associated mineralized systems. Armed with geophysical surveys, geochemical data and consultants' expertise, Puma has developed a cost-effective exploration tool to discover gold at shallow depths and maximize drilling results.

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