RIMOUSKI, Quebec, April 01, 2019 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (the “Company” or
“Puma”) announces that by mutual agreement, Puma Exploration Inc. (“Puma”) and El Nino Ventures (“El Nino”) have
agreed to modify the terms of the amended and restated Asset Purchase Agreement signed October 5, 2016, as amended thereafter.
Pursuant to the third amending agreement signed by Puma & El Nino, Puma now has until June 30, 2019 to proceed with the final $1M
cash consideration. In addition, subject to the obtention of the approval of the TSX Venture Exchange, Puma shall pay El Nino
1,000,000 shares of its capital stock as an additional fee.
If Puma does not satisfy the conditions set forth in the Amended and Restated Asset Purchase Agreement, it will
provide to El Nino the geological information, reports, metallurgical tests and the surface copper zone drill sampling which
represent about $2.4M in exploration work completed on the Murray Brook Project since El Nino entered into the original sale
agreement with Puma.
“We are very pleased with the amended terms between the parties which provides more time to optimise and
finalise the current tests and studies in progress at Murray Brook to achieve our shared objective to finalize the acquisition and
define the best mining scenario for the Murray Brook Deposit”, noted Marcel Robillard, President of Puma. “The Company is
currently evaluating different funding scenarios to secure the Murray Brook property. The objective is to create shareholder values
and minimize the overall dilution.”, added Marcel Robillard.
Qualified Persons and QC/AC
The content of this press release was prepared by Marcel Robillard, P.Geo., President of Puma Exploration,
qualified person as defined by NI 43-101, who supervised the preparation and technical information that forms the basis for this
news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Mr. Robillard is not independent of the
Company, as is officer and shareholder thereof.
About the Murray Brook Project
The Murray Brook Project consists of three (3) distinct contiguous areas that covers 8,800 hectares and more
than 18 kilometers of the favorable rocks that host the operating Caribou Mine (Trevali Mining Corp.), the Murray Brook Deposit and
the past operating Restigouche Mine (Trevali Mining Corp.). From east to west, the Murray Brook Project comprises the Murray Brook
East Property (4925), the Murray Brook Mining Lease (#252) and the Murray Brook West Property (7846).
The Murray Brook East and Murray Brook West Properties have been subject to various degrees of exploration and
share the same potential of increasing the mineral resources defined at the Murray Brook Deposit and several future priority
targets have been defined on these properties.
About the Murray Brook Deposit
The Murray Brook Deposit (M.L. #252) covers an area of 484 hectares with a currently defined measured and
indicated mineral resources of 5.28 million tonnes averaging 5.24% zinc, 1.80% lead, 0.46% copper, 68.9 g/t silver and 0.65
g/t gold. The core of this mineral resource occurs in the West Zone which is 200 meters wide, extending from surface to
300 meters vertical and the true thickness of the massive sulphide body varies from 75 meters to 100 meters. The East Zone
(Copper-Gold) is 100 meters wide, also extending from surface to 300 vertical meters and is mainly mineralized with gold and
copper. On February 20, 2017, a NI 43-101 report was accepted and filed on SEDAR.
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in
Canada. The Company's major assets consist of an option to acquire 100% beneficial interest in the Murray Brook Property, the
wholly owned Turgeon Zinc-Copper Project and the Nicholas-Denys Project all located in the Bathurst Mining Camp of New Brunswick.
As well as an equity interest in BWR Resources, exploring in Manitoba. Puma’s objective for the coming year is to focus its
exploration efforts in New Brunswick and advance the Murray Brook Deposit.
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Learn more by consulting www.pumaexploration.com for further information on Puma Exploration Inc.
Marcel Robillard, President
(418) 724-0901
president@explorationpuma.com
Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking
statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements of Puma Exploration Inc. to be materially different from actual future results and achievements
expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking
statements which speak only as of the date the statements were made, except as required by law. Puma Exploration undertakes no
obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the
quarterly and annual reports and in the documents submitted to the securities administration.
