Puma begins winter 2026 drilling at Williams Brook

Executive Summary

• Puma Exploration Inc. has launched its Winter 2026 drilling program at the Williams Brook gold project in northern New Brunswick, operating under an option agreement with Kinross Gold Corp.
• The program involves approximately 12 diamond drill holes totaling over 2,300 meters, targeting the Jaguar and Lion gold zones to evaluate gold potential, define structural controls, and confirm historical results.
• Kinross Gold Corp. assumes the role of operator for the 2026 exploration phase, with a total second-year commitment of $3 million to advance the project.

Key Details

• Drilling Scope: Approximately 12 diamond drill holes totaling >2,300 meters.
• Jaguar Gold Zone (JGZ):
  • Drilling commenced Feb. 2, 2026.
  • Plan: ~5 drill holes totaling ~1,360 meters.
  • Objective: Test geophysical (IP) anomalies, intersect multiple structural orientations, follow up on historical 2008 drilling and 2022 surface sampling, and delineate the oxide zone/intersect fresh rock.
  • Historical Context: Hole WB-08-03 returned 2.10 g/t Au over 9.00 m within a broader envelope of 0.52 g/t Au over 55.00 m. 2022 grab samples returned up to 34.70 g/t Au.
• Lion Gold Zone (LiGZ):
  • Plan: 7 drill holes totaling ~1,050 meters.
  • Objective: Test fold hinges and quartz veins within mapped gabbro; follow up on channel sampling results.
  • Discovery Context: Discovered in 2024; area stripped ~400m along strike, 10-25m width. Grab samples up to 72.20 g/t Au; Fall 2025 channel sampling up to 17.1 g/t Au.
• 2026 Exploration Schedule:
  • Jan-Mar 2026: Winter drilling (Lion and Jaguar zones).
  • May-Aug 2026: Summer field program (mapping, prospecting, soil sampling, IP surveys).
  • Aug-Sep 2026: Summer drilling to test new targets and follow up on previous targets.
• Financial Commitment: $3 million second-year commitment under the option agreement.
• Operator Change: Kinross Gold Corp. assumes the role of operator in 2026 (Puma was operator in 2025).
• Kinross 2026 Objectives: Evaluate exploration potential of Williams Brook, Portage, Jonpol, and Mount Matthew properties; prioritize prospective areas.
• Option Agreement Terms: Kinross must finance a minimum of $16.75 million in exploration expenditures over five years (2025-2030) to earn a 65% interest.
• Upcoming Events: PDAC Conference (Toronto, March 1-4, 2026) and Precious Metals Summit (Toronto, March 2-3, 2026).

Notable Quotes

• None explicitly quoted in the text, though the release outlines strategic objectives.