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.

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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