Puma Exploration (TSXV:PUM)(the Company or Puma) is pleased to announce the results of the first of three holes from the 2017 drilling program at its Murray Brook Deposit in New Brunswick. Hole MB17-01 intersected over 405 meters of continuous massive sulphide mineralization starting from 27 meters from surface and extending to a depth of 435 meters. The overall grades of the 405 meter massive sulphide mineralization are 3.3% Zn, 1.1% Pb, 0.95g/t Au, 42g/t Ag, and 0.30% Cu including a high grade gold zone of 2.0 g/t Au over 160 meters.

Hole MB17-01, drilled to a total downhole depth of 549 meters, was designed to validate historic high-grade zones, to expand the potential resources at depth and to define the geological model, including the metal zonation. All of this new information will be used for mining plan in the current Preliminary Economic Assessment (”PEA”) along with the Results of a bulk sample of 200-300 kg of fresh core being collected to proceed with more advanced metallurgical recovery studies.


The 405 meters of massive sulphide intersected in hole MB17-01 is characterized by numerous higher-grade thick zinc horizons with grades up-to 5.8% Zn, 2.8% Pb, 1.05 g/t Au, 77 g/t Ag, over 53 meters and also much higher-grade zinc intercepts of 10.04% Zn, 3.23% Pb, 2.58 g/t Au, 119 g/t Ag over 17 meters.

*Highlights of Higher-grade Zinc Zones in Hole MB17-01 and other significant results can be found in Table 1 below.

27.0m to 39.0m (12.0m): 4.54% Zn, 1.02%Pb, 0.31 g/t Au, 28 g/t Ag, 2.15% Cu

65.0m to 77.0m (12.0m): 5.57% Zn, 3.10%Pb, 0.20 g/t Au, 97 g/t Ag, 0.38% Cu

135.0m to 142.0m (7.0m) : 6.24% Zn, 0.85%Pb, 0.44 g/t Au, 27 g/t Ag

151.0m to 160.0m (9.0m) : 6.45% Zn, 1.93%Pb, 55 g/t Ag

174.0m to 180.0m (6.0m) : 5.12% Zn, 2.09%Pb, 50 g/t Ag

253.0m to 264.0m (11.0m) : 5.53% Zn, 2.40%Pb, 0.29 g/t Au, 117 g/t Ag

285.0m to 306.0m (21.0m) : 7.07% Zn, 3.57%Pb, 1.60 g/t Au, 62 g/t Ag

344.0m to 351.0m (7.0m) : 5.12% Zn, 1.11%Pb, 2.62 g/t Au, 50 g/t Ag, 0.56% Cu

357.0m to 374.0m (17.0m) : 10.04% Zn, 3.23%Pb, 2.58 g/t Au, 119 g/t Ag, 0.56% Cu

383.0m to 390.0m (7.0m) : 6.49% Zn, 1.78%Pb, 2.31 g/t Au, 134 g/t Ag, 0.80% Cu

Hole MB17-01 Analysis (or Discussion)

Hole MB17-01was drilled at a -45 declination in the center of the west side of the Murray Brook Deposit, is characterized by high grade zinc mineralization, which constitutes the core of the resource estimate released in December 2016. The West Zone (Zinc) 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. Please refer to figures 1 and 2.


MB17-01 has successfully identified new mineralized zones at depth, and, due to its orientation and declination, has filled gaps between previously drilled holes, which will increased the confidence of continuity in the current PEA, as follows:

From 27 meters to 100 meters, MB17-01 has filled a 73 meter gap between two previous holes with a intersection of 4.54% Zn, 1.02% Pb, 2.15% Cu over 12.0 meters (extending laterally the surface rich copper and zinc zones for more than 50 meters) and with a second infill intercept of 5.57% Zn, 3.10% Pb, 97 g/t Ag over 12 meters.

From 135 meters to 205 meters, MB17-01 has filled a 70 meter gap between two previous holes with an infill intercept of 5.14% Zn, 1.05% Pb, 36 g/t Ag over 26.0 meters.

From 295 meters to 420 meters, a MB17-01 massive sulphide intersect located below the current zinc resource block model fills 125 meter gap between two previously drilled holes. This mineralization is represented by one of the best intercepts of the current hole with 5.26% Zn, 1.52% Pb, 2.62 g/t Au over 59 meters, representing a significant at-depth extension of the current define Zinc block envelope.

From 420 meters to 549 meters, MB17-01 extends the favorable host sedimentary horizon for more than 129 meters. Footwall sediment alteration is represented by strong chloritization and silicification. The mineralization beyond 435 meters, downhole from the projected mineral target, contains lower