Puma obtains Kinross renewal for Williams Brook option

Executive Summary

• Puma Exploration Inc. announced that Kinross Gold Corp. has committed to Year 2 of its option agreement on the Williams Brook gold project in Northern New Brunswick, Canada.
• The Year 2 commitment requires a minimum of $3 million in work expenditures, pending Kinross board approval, with Kinross serving as the operator for the program.
• Under the broader option agreement, Kinross holds the right to earn a 65% interest in the project by funding at least $16.75 million in exploration expenditures over a five-year period.

Key Details

• Transaction: Renewal of Year 2 of the option agreement for the Williams Brook project.
• Work Commitment: Minimum of $3 million for Year 2, subject to Kinross board approval.
• Operator: Kinross Gold Corp. will act as the operator for the second-year program.
• Earn-In Terms: Kinross can earn a 65% interest by funding at least $16.75 million in exploration expenditures over five years.
• Project Assets: The Williams Brook project comprises 40,225 hectares, including the Williams Brook, Jonpol, and Portage properties.
• Strategic Context: The project is located near the Rocky Brook millstream fault (RBMF), a major regional structure controlling gold deposition. Puma also holds the McKenzie Gold project in the region.
• Company Focus: Puma Exploration is focused on precious metals projects in Northern New Brunswick, near the Bathurst mining camp, utilizing traditional prospecting and AI-driven technologies.

Notable Quotes

• "The continued support from Kinross validates the potential of our Williams Brook project. With a strong balance sheet, we are well positioned to accelerate exploration and unlock the next wave of discovery across our properties." — Marcel Robillard, President and CEO, Puma Exploration Inc.