Puma Exploration to Acquire the Fe Bloom Property in New Brunswick
25 May 2019 - 1:21AM
Puma Exploration Inc. (PUMA-TSXV) (
the “Company” or
“Puma”) has signed an option agreement with a local
prospector to acquire 100% interest of the Fe Bloom project located
along the northern edge of the Bathurst Mining Camp of New
Brunswick. The Fe Bloom project had exploration work conducted from
1950 to 1970, targeting a potential manganese deposit.
The Fe Bloom Project
The property consists of 69 claims totaling 643
hectares and is located in a favorable horizon along the Brunswick
Belt where only limited exploration programs were done in the past.
Most of the major exploration work was done in the southern part of
the Camp in the vicinity of the Brunswick Mines 12 and 6. The
project is supported in part by a grant of $20,000 received from
the New Brunswick Junior Mining Assistance Program. Puma wants to
thank the Province again for their support for mining exploration
in New Brunswick.
Option Agreement
The option agreement covers the Fe Bloom Project
(Claim Block 8765) located in Northern New Brunswick. All the
claims are in good standing until May 2019. Puma is obligated to
keep the claims in good standing.
Puma will acquire a 100% interest in the Fe
Bloom claims by:
- issuing 1,000,000 shares to the vendors; and
- by performing the following work commitment:
- $25,000 on or before the 1st anniversary,
- $75,000 on or before the 2nd anniversary,
- $150,000 on or before the 3rd anniversary,
The vendor keeps a net smelter royalty (NSR) of
1% for all other minerals. Puma retains the right to purchase 0.5%
NSRs for $1,000,000 with the vendor keeping 0.5%.
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
Turgeon Zinc-Copper Project and the Nicholas-Denys Project, all
located in New Brunswick. Also, Puma owns an equity interest in BWR
Resources, Manitoba. Puma’s objective is to focus its exploration
efforts in New Brunswick.
Qualified Persons
Technical information provided in this news
release was prepared and reviewed by Marcel Robillard, P.Geo.,
President, and Dominique Gagné, P.Geo., Vice President Exploration
of Puma Exploration, qualified persons as defined by NI 43-101.
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 and Mr. Gagné are not independent of
the Company, as both are officers and shareholders thereof.
Learn more by consulting www.pumaexploration.com
for further information on Puma Exploration Inc. Visit us on
Facebook and Twitter.
Marcel Robillard, PresidentTel.: (418)
724-0901president@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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1f8a3435-1070-4c40-8c25-04fbdde54977
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