Puma Exploration Closes the Transaction With Targets Minerals
September 10 2019 - 11:13AM
Puma Exploration Inc. (TSXV: PUMA) (the "Company" or "Puma") is
pleased to announce the closing of the purchase agreement with
Targets Minerals in relation to the Nicholas-Denys Project as
disclosed on August 27, 2019.
In exchange of its interest in the Ann’s Creek
and Beresford Copper properties and in some surface rights, Puma
has received $100,000 in cash, $10,000 in debentures and 14,200,000
shares of Targets Minerals representing approximatively 48% of the
current and outstanding shares of the company. Puma also retains 1%
NSR Royalty of which half of it can be bought back for
$1,000,000.
Puma constitutes the largest Targets Minerals
shareholder and both managements will work together to create a
major new active player in Northern New Brunswick with the initial
focus on precious metal (Gold-Silver). Targets Minerals plans to
list its shares on a Canadian Stock Exchange within the next 18
months.
‘’We are very happy to close the transaction in
such an efficient and timely manner. The direct equity
ownership (48%) in Targets Minerals will provide a great exposure
to the Gold and Silver upside within the current precious metals
renewed interest markets. Puma and Targets Minerals will work
closely together to explore and develop the projects’’ notes Marcel
Robillard, President and CEO of Puma Exploration.
ABOUT NICHOLAS-DENYS
PROJECT
The Nicholas-Denys covers the Rocky Brook
Millstream Fault (RBMF) and his splay, the Main Fault (MF). These
faults represent two (2) major mineralized structures which contain
the main precious metals (Au-Ag) lenses on the property. These
faults can be followed over 20 kilometers and the intersection with
minor transverse NW-SE extension structure, represents the primary
exploration targets for the high-grade Au-Ag lenses.
ABOUT PUMA EXPLORATIONPuma 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 to 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.
The company’s objective for 2019 also includes
selling undervalued assets as to increase the
value of the company to its shareholders. Puma
holds 14,200,000 shares of Targets Minerals, exploring for precious
metals (Gold-Silver) in New Brunswick and
4,750,000 shares of BWR Resources exploring for
gold in Manitoba, and has an option agreement with
Rio Tinto for the Red Brook Project in New Brunswick.
QUALIFIED PERSONS AND
QC/ACTechnical 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.
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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