Mr. Marcel Robillard reports

PUMA EXPLORATION EXPANDS MCKENZIE GOLD PROJECT AND STRENGTHENS REGIONAL PRESENCE

Puma Exploration Inc. has staked two new claim blocks totalling 379 claims covering 8,253 hectares that expands the McKenzie gold project in Northern New Brunswick to an impressive 42,053 hectares.

Marcel Robillard, president and chief executive officer, stated, "This expanded land position enhances the company's ability to advance discovery in Northern New Brunswick and build scale around multiple gold targets across the McKenzie gold project." This strategic expansion further strengthens Puma's control over a highly prospective gold corridor, securing key ground along both the project's northern and southern extensions.

New Brunswick hosts considerable yet underexplored mineral potential. The recent surge in the acquisition of prospective ground, as reflected in continuing staking activity by various explorers, underscores the importance of Puma maximizing its land position in Northern New Brunswick.

Land secured next to the Grog gold zone

The northern block, covering roughly 250 claims across 5,427 hectares, secures key ground adjacent to the recently discovered Grog gold zone, where surface exploration in 2025 returned grab samples of up to 9.21 grams per tonne Au (gold) (see Feb. 26, 2026, news release).

At Grog, gold mineralization is associated with brittle faults and fractures. Puma regards the newly staked ground as highly strategic, broadening the company's footprint around an emerging discovery area. It also increases the potential for identifying additional structures and mineralized zones along the same geological trend. Follow-up exploration will leverage modern tools and expanded field coverage to advance priority targets rapidly.

* The reader is cautioned that grab samples are selective by nature and may not represent the true metal content of the mineralized zone.

Extending exposure to the McKenzie fault

The southern block, comprising 129 units and 2,812 hectares, secures approximately five additional kilometres of the McKenzie fault -- a major regional structure associated with high-grade gold veins, including the RIM gold vein. Puma recently completed its initial shallow diamond drilling at RIM, totalling 43 NQ drill holes for 2,721.5 metres. This program provided first-pass drill coverage of the RIM vein corridor and delivered critical geological and structural data to refine future targets along this highly prospective fault system. Assays for all 43 drill holes are pending, with results to be released upon completion of analysis.

Other high-grade quartz-vein targets at McKenzie include the Bonanza and Dome showings that returned up to 362 grams per tonne Au in Puma's 2023 trenching and sampling program, three kilometres south of the RIM gold vein (see Oct. 25, 2023, news release). Also, a preliminary structural study at the Dome showing found that the quartz vein is tightly folded and discordant to bedding, consistent with a strongly deformed vein environment. These new showings add further high-grade vein targets to Puma's expanded McKenzie land package along the Grog and RIM gold zones.

Acquisition of regional office and Coreshack

Puma has completed the acquisition of the residential building, core storage facility, warehouse and related land, as announced on Feb. 26, 2026. The facilities will serve as the company's regional exploration office and operational base in New Brunswick. This move supports Puma's objective of securing its leadership position in the region and further establishing itself as a fully engaged corporate citizen of New Brunswick.

New Brunswick's comprehensive minerals strategy

Puma commends New Brunswick's introduction of the new comprehensive minerals strategy, launched on March 2, 2026. The strategy aims to foster a modern mineral sector that drives long-term economic growth and supports regional development through continuing exploration, project advancement and supply chain activities. The plan also emphasizes environmental stewardship and indigenous participation. New Brunswick is positioned to become a leading province for investment, mineral exploration and development, and Puma looks forward to contributing to this progress.

Qualified person

The scientific and technical content of this press 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.

About the McKenzie gold project

Puma's 42,053-hectare McKenzie gold project is easily accessible by paved highway and gravel roads and is located only seven km west of the company's Williams Brook project (optioned to Kinross). It straddles the McKenzie fault, a prominent structural feature associated with numerous occurrences of high-grade gold quartz veins, stockworks and breccias. Puma has confirmed two significant gold systems at McKenzie: the RIM gold vein and the Grog area, located 30 kilometres apart, demonstrating the district-scale potential of the project.

About Puma's assets in New Brunswick

Puma has an impressive portfolio of prospective gold landholdings strategically located near roads and infrastructure in Northern New Brunswick, including 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 work 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 understanding 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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