Puma to Receive 1M Shares of BWR Exploration Inc.
October 10 2019 - 2:00PM
Puma Exploration Inc. (TSXV: PUMA) (the "Company" or "Puma") is
pleased to announce an amendment to the October 5, 2016 Agreement
(the” Agreement”) with BWR Exploration Inc. (TSXV: BWR) in regards
to the Little Stull Lake Gold Project.
Puma and BWR have agreed to extend the period of
the completion of the minimum exploration expenditures of $1.5M for
one year, until October 5, 2020. In exchange of the extension
given, BWR shall issue 1,000,000 shares of the Company to Puma on
or before November 4, 2019. For more details on the amendment,
please refer to today’s BWR Exploration Inc. (TSXV: BWR) news
release.
“This agreement is an integral part of our
DEAR strategy, which is our newly developed
strategic plan that will allow us to maximize shareholder value.
Following the current amendment, Puma will hold 5,750,000 shares
(8%) of BWR. BWR is exploring for Gold in Manitoba, which gives
Puma an indirect exposure to the recent renewed interest in Gold.”
Notes Marcel Robillard, President and CEO of Puma Exploration.
DEAR STRATEGY
In connection with the current reorganization of
the Company, Puma has defined a four-part strategy for 2019-2020
and beyond: Development,
Exploration, Acquisition and
Royalties/Ownership (DEAR).
Each part of this strategy is aimed at
generating value for shareholders and are defined as follows:
- Development of the Murray Brook Deposit, where
the gossan and oxide zones will be investigated to determine the
economics and upside potential of the precious metal contents and
recovery within these zones. The goal is to convert the surface
zone materials that were previously categorized as waste to
potential mineable ore.
- Exploration of our advanced stage projects
located at the Murray Brook Deposit and Chester Property, aimed at
discovering new satellite and contiguous deposits with our
drill-ready targets. The objective is to define the 10 best
drilling targets at Murray Brook and Chester.
- Acquisition of prospective new properties
using our expertise and knowledge acquired in the last 15 years of
exploration in New Brunswick will offer a variety of different
metals exposures and potentially allow us to make new discoveries
within these potential new properties.
- Royalties and ownership gained through the
sell-off of non-core assets to third parties represent a potential
major financial upside without direct dilution. Currently, Puma
holds 14,200,000 shares (48%) of Target Minerals Inc. (1% NSR on
Nicholas-Denys) and 100% of Murray Brook Minerals Inc. (0.67% NSR
on Murray Brook) and will hold 5,750,000 shares (8%) of BWR
Exploration Inc. (1% NSR on Little Stull Lake).
ABOUT PUMA EXPLORATION
Puma is a Canadian mineral exploration company
with advanced precious and base metals projects in Canada. While
the priority remains to secure and finalize the acquisition of the
Murray Brook project, the emphasis will be directed towards the
exploration of the new targets identified around the existing
deposits at Murray Brook and Chester, but also within underexplored
targets located on both favourable horizons within the
properties.
QUALIFIED PERSONS AND QC/AC
Technical information provided in this news
release was prepared and reviewed by Marcel Robillard, P.Geo.,
President of Puma Exploration, qualified person 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 is not independent of the
Company, as is officer and shareholders thereof.
You can visit us on Facebook and Twitter.
Learn more by consulting www.pumaexploration.com
for further information on Puma.
Marcel Robillard, President(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 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 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.
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