Mr. Marcel Robillard reports

PUMA EXPLORATION DOUBLES ITS JACQUET RIVER PROJECT AND LAUNCHES DRONE MAGNETIC SURVEY

Puma Exploration Inc. has staked 8,474 hectares, more than doubling its land position at the prospective Jacquet River project in northern New Brunswick, and secured approximately 17 kilometres of major regional structures, including the Rocky Brook millstream fault and the Jacquet River fault.

Marcel Robillard, Puma's president and chief executive officer, commented: "With our understanding that major regional structures control mineralization in the region, as confirmed at our Williams Brook and McKenzie gold project, our proven discovery model, and with the recent increase in staking activity by other explorers, we moved quickly when the opportunity presented itself to secure additional prospective ground surrounding our Jacquet River property. This expanded land package significantly enhances the project's exploration potential at the district scale."

Originally staked by Puma in 2024, the Jacquet River project is located approximately 10 km north of the Murray Brook deposit and about three km from the Williams Brook project (optioned to Kinross). The four newly staked claims (6,346 hectares) bring the project's total size to 12,112 hectares. There are no underlying agreements or net smelter royalties for the project.

Approximately 17 km of the Rocky Brook millstream fault and the Jacquet River fault transect the property. The Rocky millstream fault system is a major structure hosting gold showings and other metallic mineralization in northern New Brunswick. The Jacquet River fault is interpreted as a subsidiary fault and therefore represents an additional exploration target with significant potential. Very limited work has been conducted on the property to date. Several reported historical gold and silver occurrences in the vicinity indicate the potential for a large footprint of alteration and mineralization.

Puma will launch an inaugural exploration program at Jacquet River this summer. A drone magnetic survey will refine structural interpretation, identify priority sectors, and support the coming summer mapping and prospecting programs.

Puma Exploration's DEAR strategy

Jacquet River fits within Puma's DEAR strategy -- discovery, exploration, acquisition and royalties -- which is designed to create value through both direct exploration success and strategic monetization of non-core assets.

Following its gold discovery at Williams Brook in 2021, Puma spun out its base metal and non-core assets to unlock their potential and maximize shareholder value through Puma's equity interests in other explorers and carried royalties on their projects. This approach provides Puma shareholders with diversified commodity exposure and significant upside potential from the spinoff's success, while allowing Puma to maintain its primary focus on advancing its gold assets in New Brunswick.

As part of this strategy, Puma currently holds equity interests in several companies and maintains a portfolio of NSR royalties on selected assets. Puma currently holds (share prices at market close on May 1, 2026):

• 11,181,058 shares of Canadian Copper, trading at 68 cents (approximately $7.6-million);
• 23,951,040 shares of Raptor Metals Ltd., trading at five Australian cents (approximately $1.2-million (Australian));
• 2.7 million shares of BWR Exploration Inc., trading at 1.5 cents (approximately $40,000);
• 23,644,165 shares of Murray Brook Minerals (not publicly listed).

Puma also maintains the following net smelter return royalties:

• 2-per-cent NSR on Murray Brook West;
• 2-per-cent NSR on Chester West;
• 1-per-cent NSR on Beresford copper;
• 2-per-cent NSR on Little Stull Lake.

Qualified person

The scientific and technical content of this press release has been prepared, reviewed and approved by Dominique Gagne, PGeo, who is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Puma Exploration Inc.

Puma Exploration is a Canadian mineral exploration company focused on identifying and developing a pipeline of precious metal projects in New Brunswick, near Canada's renowned Bathurst mining camp.

Puma has a long history in northern New Brunswick, and has developed a strong understanding of the region's geology and mineralized systems through a combination of traditional prospecting, trenching, geophysics, geochemistry and advanced exploration techniques.

We seek Safe Harbor.