Mr. Marcel Robillard reports

PUMA ACQUIRES THE JONPOL GOLD PROJECT IN NORTHERN NEW BRUNSWICK, CANADA

Puma Exploration Inc. has signed a purchase agreement to acquire the Jonpol gold project located in the Murray Brook area from local prospectors. Numerous gold occurrences have been identified and are associated with gabbroic intrusions located along a major subsidiary fault of the Rocky Brook Millstream fault (RBMF.) Grab samples collected in trenches reported grades of 17.1 grams per tonne (g/t) gold (Au), 14.8 g/t Au, 10.6 g/t Au, 6.8 g/t Au, 5.1 g/t Au and 3.4 g/t Au. The RBMF represents a major structure trending easth-northeast, formed by the Acadian orogeny. It hosts numerous showings and deposits and represents a perfect plumbing system for mineralized fluids.

The Jonpol gold project covers 16 claim blocks for 2,745 hectares and is located only five kilometres northwest of the Murray Brook project. Very limited diamond drilling has been done on the property which is underlain by sedimentary rocks and mafic intrusions. Drill results reported were 1.13 g/t Au over 12.0 metres (m), 1.37 g/t Au over six m, 1.37 g/t Au over 1.4 m, 3.89 g/t Au over one m and 2.78 g/t Au over 1.5 m.

In 2017 and 2018, till samples were collected and gold grain count analyses of heavy metal concentrates (HMC) were carried out. The till surveys identified a significant anomaly in the eastern part of the property with up to 19 gold grains that included nine pristine and eight modified, indicating a limited glacial transport. Grade of 923 parts per billion (ppb) Au for the HMC sample was reported.

The purchase agreement covers the Jonpol gold project located in northern New Brunswick. Puma will acquire a 100-per-cent interest in the claims by issuing four million shares (preconsolidation.) The vendors keep a net smelter royalty (NSR) of 2 per cent. Puma retains the right to repurchase 1-per-cent NSR for $1-million. Puma must keep the claims in good standing but does not have any minimum work commitments. The transaction is subject to the TSX Venture Exchange approval.

DEAR strategy

In connection with the current reorganization of the company, Puma has defined a four-part strategy for 2019 to 2020 and beyond: development, exploration, acquisition and royalties/ownership (DEAR).

Each part of this strategy is aimed at generating value for shareholders and are defined as follows:

• Development of the Murray Brook deposit, where the gossan and oxide zones will be investigated to determine the economics and upside potential of the precious metal contents and recovery within these zones. The goal is to convert the surface zone materials that were previously categorized as waste to potential minable ore;
• Exploration of its advanced-stage projects located at the Murray Brook deposit and Chester property, aimed at discovering new satellite and contiguous deposits with its drill-ready targets. The objective is to define the 10 best drilling targets at Murray Brook and Chester;
• Acquisition of prospective new properties using its expertise and knowledge acquired in the last 15 years of exploration in New Brunswick will offer a variety of different metals exposures and potentially allow the company to make new discoveries within these potential new properties;
• Royalties and ownership gained through the sell-off of non-core assets to third parties represent a potential major financial upside without direct dilution. Currently, Puma holds 14.2 million shares (48 per cent) of Target Minerals Inc. (1-per-cent NSR on Nicholas-Denys) and 100 per cent of Murray Brook Minerals Inc. (0.67-per-cent NSR on Murray Brook) and will hold 5.75 million shares (8 per cent) of BWR Exploration Inc. (1-per-cent NSR on Little Stull Lake). Puma has also an option agreement to sell the Red Brook project to Rio Tinto.

About Puma Exploration Inc.

Puma is a Canadian mineral exploration company with advanced-stage and early-stage precious and base metals projects in Canada. While the priority remains to secure and finalize the acquisition of the Murray Brook project in New Brunswick, the emphasis will be directed to execute its DEAR strategy to generate value to its shareholders. Puma is currently holding one of the largest land packages in the prolific Bathurst mining camp in northern New Brunswick, Canada.

Qualified persons

Technical information provided in this news release was prepared and reviewed by Marcel Robillard, professional geoscientist, president of Puma Exploration, qualified person as defined by National Instrument 43-101. Neither the TSX-V nor its regulation services provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. Mr. Robillard is not independent of the company, as he is an officer and shareholder thereof.

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