Drilling Confirms 4 km of Favourable Corridor at Lynx Gold Trend - Seite 2

“The recent findings from our scout drill holes have significantly expanded the potential of gold mineralization, now extending to over 4 km. This confirmation underscores the potential for a substantial mineralized gold system, which should greatly interest our shareholders and potential investors. With our established DEAR strategy and recent news, we are fully financed for the 2024 exploration program. We will continue this summer to increase the stripping with additional trenching to enhance our understanding of the deposit and the interconnection between all gold zones", stated Marcel Robillard, President and CEO of Puma.

Puma’s drilling process is comprehensive. The holes are logged in detail and sampled before they are sent to the laboratory for analysis. The assay results will be announced promptly upon receipt.

Ongoing Exploration

• A detailed drone magnetic survey (very detailed) will be flown over 6 km of the Lynx Gold Trend, including the recently drilled 3.5 km extension. Once interpreted, the new data will help direct Puma’s summer trenching and stripping program and help identify targets for its upcoming 2024 Summer/Fall drilling program.
  
• Surface exploration will start in May, including a stripping and sampling program along the favourable 4 km corridor. This will help ensure drilling success to improve further and expand the Lynx Gold Deposit.
  
• The 3D model of the Lynx Gold Zone mineralization, incorporating the results of the 2023 drilling at depth and along strike at the LGZ, is almost finalized. The updated model will provide Puma with additional high-grade drilling targets at the LGZ for future drilling.
  
• Puma continues to develop and derisk the Williams Brook Gold Project. Last year, metallurgical work was undertaken to understand and mitigate any issues with gold recoveries. This past winter, a small-scale simulation was conducted on a 3-tonne bulk sample. Results are encouraging, and a comprehensive review of the completed work will be announced shortly.
  
• To keep claims in good standing, some exploration programs will be conducted this summer away from the LGZ and the Company’s primary area of focus, as well as on Puma’s other properties. Details of these programs will be announced in due course.
  

Grant of Stock Options

Subject to acceptance by the TSX Venture Exchange, the Company has granted an aggregate of 3,750,000 incentive stock options to officers, directors, and certain consultants under its share compensation plan. The options are exercisable at C$0.11 per common share for two (2) years from the grant date.