Puma Exploration Welcomes Jean-David Moore to its Advisory Board

RIMOUSKI, Quebec, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the appointment of Mr. Jean-David Moore to the Company's Advisory Board. Mr. Moore has been a consultant and advisor to several mineral exploration and development companies for over fifteen years.

"Jean-David will be a valuable asset to Puma's Advisory Board, bringing his extensive industry experience and knowledge. He has developed a strong relationship network with his significant holdings in several mineral exploration companies. As a major shareholder of Puma, he will be a trusted ally and champion as we continue to develop our Williams Brook Gold Project. This appointment reflects Puma's continued commitment to building a team focused on creating value for shareholders", stated Marcel Robillard, President and CEO of Puma.

Mr. Moore holds a degree in Forestry Engineering and a Master's from Laval University in Québec City, Canada. He is a member of the Order of Forest Engineers of the Province of Québec (OIFQ) and has published more than 70 scientific publications in different international journals.

2023 Annual and Special Meeting of Shareholders

The Company also announces the results of its Annual and Special Meeting of Shareholders (the "Meeting") via Live Audio Webcast on August 29, 2023. The Meeting's recording will be available on the Company's website for future reference in the coming days.

At the meeting, all resolutions were passed with the required majority:

• The shareholders elected Marcel Robillard, Richard Thibault, Michel Fontaine, Réjean Gosselin, Dr. Laura Araneda, and Jacques Dion to be duly elected as directors of the Company until the close of the next annual meeting of shareholders of the Company.
• The shareholders approved a resolution to appoint Malette L.L.P. as Auditor of the Company to hold office until the next annual shareholders meeting and authorize the Directors to fix their remuneration.
• The shareholders approved a resolution re-approving the Company's rolling stock option plan.
  

Following the Meeting, the Board of Directors approved the following executive appointments:

• Rejean Gosselin as Chairperson of the Board
• Marcel Robillard as Chief Executive Officer and President
• Ginette Brisson as Chief Financial Officer
• Karolyn Bouchard-Gagne as Corporate Secretary

In addition, the following appointments were made to committees as outlined below:

• Audit Committee ? Richard Thibault (Chair), Michel Fontaine and Laura Araneda
• Compensation Committee ? Michel Fontaine (Chair) and Rejean Gosselin

Grants of Options

Pursuant to its stock option plan and subject to regulatory acceptance, Puma has granted an aggregate total of 3,500,000 incentive stock options to certain company directors, advisors, and consultants, vesting immediately. These options will be exercisable at $0.165 per common share and expire on August 31, 2025.

About Puma Exploration

Puma Exploration is a Canadian-based mineral exploration company with precious metals projects in Northern New Brunswick, near Canada's Famous Bathurst Mining Camp ("BMC"). The Company's flagship, Williams Brook Gold Project, covers more than 44,650 ha in an established and mining-friendly jurisdiction, near paved roads and with excellent infrastructure nearby.

Since 2021, with less than $10M of exploration investment, Puma has made multiple gold discoveries on the Williams Brook property and believes it hosts a large hydrothermal system.

Puma's ongoing exploration programs focus on building a gold camp in Northern New Brunswick. The Company is committed to deploying its DEAR strategy (Development, Exploration, Acquisition, and Royalties) to generate maximum value for shareholders with low share dilution.

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Visit www.explorationpuma.com for more information or contact:

Marcel Robillard, President and CEO, (418) 750-8510;
[email protected]

Mia Boiridy, Head of Investor Relations and Corporate Development, (250) 575-3305; [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve several known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of Puma 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 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.