Puma drills 405 meters of high grade polymetallic mineralization at the Murray Brook Deposit, New Brunswick, including significant new high-grade gold zone

RIMOUSKI, QUEBEC--(Marketwired - Oct. 31, 2017) - Puma Exploration (the "Company" or "Puma") (TSX VENTURE:PUM)(SSE:PUMA) is pleased to announce the results of the first of three holes from the 2017 drilling program at its Murray Brook Deposit in New Brunswick. Hole MB17-01 intersected over 405 meters of continuous massive sulphide mineralization starting from 27 meters from surface and extending to a depth of 435 meters. The overall grades of the 405 meter massive sulphide mineralization are 3.3% Zn, 1.1% Pb, 0.95g/t Au, 42g/t Ag, and 0.30% Cu including a high grade gold zone of 2.0 g/t Au over 160 meters.

Hole MB17-01, drilled to a total downhole depth of 549 meters, was designed to validate historic high-grade zones, to expand the potential resources at depth and to define the geological model, including the metal zonation. All of this new information will be used for mining plan in the current Preliminary Economic Assessment (''PEA") along with the Results of a bulk sample of 200-300 kg of fresh core being collected to proceed with more advanced metallurgical recovery studies.

Figure 1 is available at the following link: http://media3.marketwire.com/docs/1104137_fig1.jpg

The 405 meters of massive sulphide intersected in hole MB17-01 is characterized by numerous higher-grade thick zinc horizons with grades up-to 5.8% Zn, 2.8% Pb, 1.05 g/t Au, 77 g/t Ag, over 53 meters and also much higher-grade zinc intercepts of 10.04% Zn, 3.23% Pb, 2.58 g/t Au, 119 g/t Ag over 17 meters.

*Highlights of Higher-grade Zinc Zones in Hole MB17-01 and other significant results can be found in Table 1 below.

• 27.0m to 39.0m (12.0m) : 4.54% Zn, 1.02% Pb, 0.31 g/t Au, 28 g/t Ag, 2.15% Cu
• 65.0m to 77.0m (12.0m) : 5.57% Zn, 3.10% Pb, 0.20 g/t Au, 97 g/t Ag, 0.38% Cu
• 135.0m to 142.0m (7.0m) : 6.24% Zn, 0.85% Pb, 0.44 g/t Au, 27 g/t Ag
• 151.0m to 160.0m (9.0m) : 6.45% Zn, 1.93% Pb, 55 g/t Ag
• 174.0m to 180.0m (6.0m) : 5.12% Zn, 2.09% Pb, 50 g/t Ag
• 253.0m to 264.0m (11.0m) : 5.53% Zn, 2.40% Pb, 0.29 g/t Au, 117 g/t Ag
• 285.0m to 306.0m (21.0m) : 7.07% Zn, 3.57% Pb, 1.60 g/t Au, 62 g/t Ag
• 344.0m to 351.0m (7.0m) : 5.12% Zn, 1.11% Pb, 2.62 g/t Au, 50 g/t Ag, 0.56% Cu
• 357.0m to 374.0m (17.0m) : 10.04% Zn, 3.23% Pb, 2.58 g/t Au, 119 g/t Ag, 0.56% Cu
• 383.0m to 390.0m (7.0m) : 6.49% Zn, 1.78% Pb, 2.31 g/t Au, 134 g/t Ag, 0.80% Cu

Hole MB17-01 Analysis (or Discussion)

Hole MB17-01was drilled at a -45 ? declination in the center of the west side of the Murray Brook Deposit, is characterized by high grade zinc mineralization, which constitutes the core of the resource estimate released in December 2016. The West Zone (Zinc) 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. Please refer to figures 1 and 2.

Figure 2 is available at the following link: http://media3.marketwire.com/docs/1104137_fig2.jpg

MB17-01 has successfully identified new mineralized zones at depth, and, due to its orientation and declination, has filled gaps between previously drilled holes, which will increased the confidence of continuity in the current PEA, as follows:

From 27 meters to 100 meters, MB17-01 has filled a 73 meter gap between two previous holes with a intersection of 4.54% Zn, 1.02% Pb, 2.15% Cu over 12.0 meters (extending laterally the surface rich copper and zinc zones for more than 50 meters) and with a second infill intercept of 5.57% Zn, 3.10% Pb, 97 g/t Ag over 12 meters.

From 135 meters to 205 meters, MB17-01 has filled a 70 meter gap between two previous holes with an infill intercept of 5.14% Zn, 1.05% Pb, 36 g/t Ag over 26.0 meters.

From 295 meters to 420 meters, a MB17-01 massive sulphide intersect located below the current zinc resource block model fills 125 meter gap between two previously drilled holes. This mineralization is represented by one of the best intercepts of the current hole with 5.26% Zn, 1.52% Pb, 2.62 g/t Au over 59 meters, representing a significant at-depth extension of the current define "Zinc" block envelope.

From 420 meters to 549 meters, MB17-01 extends the favorable host sedimentary horizon for more than 129 meters. Footwall sediment alteration is represented by strong chloritization and silicification. The mineralization beyond 435 meters, downhole from the projected mineral target, contains lower grade mineralization. The system remains open downhole and, more likely, vertically below or above the last part of the current hole.

Table 1. Significant intercepts in the Hole MB17-01

"We are very pleased with the results from hole MB17-01. The massive sulphide intersection below the current resource estimate represents a fundamental and significant expansion of the system's geometry and metal content. We look forward to incorporating this new information into our deposit resource model. Also, this "deep model" extension carries higher than anticipated gold values, represented by a 160 meter drill intersection of 2.0 g/t Au, including 3.02 g/t Au over 25 meters. The contrasts with the existing resource estimate that assigns a value of only 0.65 g/t Au for the entire block model.", notes Marcel Robillard, President of Puma Exploration.

Diamond drill holes MB17-02 (74m) and MB17-03 (174m) were drilled close to surface to test the extension of the Murray Brook deposit toward the south-western extension. The results from these holes are pending and their location is referenced in Figure 2.

Qualified Persons and QC/AC

The contents of this press release were prepared by Marcel Robillard, P.Geo., President and Dominique Gagn?(C), P.Geo., Vice President of Exploration, are qualified persons as defined by NI 43-101 and have supervised the preparation and technical information that forms the basis for this news release. 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. Gagn?(C) are not independent of the company, as he is an officer and shareholder. The samples are prepared, sent, processed at ALS Val D'Or, Qu?(C)bec and ALS Sudbury, Ontario. All samples were assays by ME-ICP41 method and gold was assay by AU-AA26 method. QA/QC are monitored by the analysis of blanks, reference material and replicate samples at a frequency of one (1) of each per 30 samples.

About the Murray Brook Project

The Murray Brook Project consists of three (3) distinct contiguous areas that cover more than 18 kilometers of the favorable rocks that host the operating Caribou Mine (Trevali Mining Corp.), the Murray Brook Deposit and the past operating Restigouche Mine (Trevali Mining Corp.). From east to west, the project comprises the Murray Brook East Property (4925), the Murray Brook Mining Lease (# 252) and the Murray Brook West Property (7846) (refer to website). The Murray Brook East and Murray Brook West Properties have been subject to various degrees of exploration and share the same potential of increasing the mineral resources defined at the Murray Brook Deposit. The Company has defined several future priority targets on these properties (see Figure 2).

The Murray Brook deposit has a currently defined measured and indicated mineral resources of 5.28 million tonnes averaging 5.24% zinc, 1.80% lead, 0.46% copper, 68.9 g/t silver and 0.65 g/t gold. The core of the mineral resource occurs in the West Zone 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^th 2017, a NI 43-101 report was accepted and 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% per cent beneficial interest in the Murray Brook Property, the Turgeon Zinc-Copper Project and the Nicholas-Denys Project located in New Brunswick as well as an equity interest in BWR Resources, Manitoba. Puma's objective for the coming year is to focus its exploration efforts in New Brunswick.

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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.