Puma Exploration Extends Warrants
RIMOUSKI, Quebec, Feb. 01, 2019 (GLOBE NEWSWIRE) — Puma Exploration Inc. (PUMA-TSXV) (the “Company” or “Puma”) proposes to extend the expiry date of 13,643,569 outstanding share purchase warrants that were issued pursuant to a private placement completed on February 1st and 24th, 2017. Each warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.15 per share for a period of 24 months from the date of issuance which expires on February 1st and 24th 2019. Subject to TSX Venture Exchange approval, the expiration of these warrants will be extended to December 31st, 2019. All other terms of the warrants will remain the same.
The Murray Brook Deposit
The Murray Brook Deposit, which is the essence of the Strategic Alliance between the companies, is located 10 kilometers west of Trevali’s Caribou Mine and 10 kilometers east of Trevali’s Restigouche Deposit in the Bathurst Mining Camp of New Brunswick, Canada.
The Deposit has a measured mineral resource of 3.68 million tonnes grading 5.57% Zn, 1.87% Pb, 0.36% Cu, 70.5 g/t Ag and 0.56 g/t Au, plus indicated mineral resources of 1.60 million tonnes grading 4.48% Zn, 1.63% Pb, 0.70% Cu, 65.3 g/t Ag and 0.88 g/t Au (for a combined measured and indicated resource of 5.28 million tonnes averaging 5.24% Zn, 1.80% Pb, 0.46% Cu, 68.9 g/t Ag and 0.65 g/t Au containing approximately 610 million pounds of Zinc, 209 million pounds of Lead and 11.7 million ounces of Silver, as of December 21, 2016.
The core of the mineral resource occurs in the West Zone (Zinc-Lead) which is 200 meters wide, extending from surface to 300 meters vertical and the true thickness of the Massive Sulphide body varies from 75 meters to 100 meters. The East Zone (Copper-Gold) is 100 meters wide, also extending from surface to 300 vertical meters and is mainly mineralized with Gold and Copper. On February 20, 2017, a NI 43-101 report was filed on SEDAR.
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.
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.
Marcel Robillard, President
Tel.: (418) 724-0901 | email : email@example.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.