Puma's Subsidiary Murray Brook Minerals Acquires Mount McInnes Project
Rhea-AI Summary
Puma Exploration (OTCQB:PUMXF) announced that its 70.48%-owned subsidiary Murray Brook Minerals (MBM) signed an agreement on June 8, 2026, to acquire a 100% interest in the Mount McInnes polymetallic critical minerals project in northern New Brunswick. The property covers 11,837 hectares in 19 claim blocks (539 claim units) and is prospective for silver, gold, zinc, lead, copper, indium, bismuth, tungsten, molybdenum, and tin.
According to Puma, consideration to the arm's-length vendor includes 500,000 MBM shares, a C$15,000 cash payment already made at signing, and a further C$20,000 due on or before the first anniversary. Additional success-based cash payments total up to C$185,000 tied to a NI 43-101 resource estimate, positive PEA, positive feasibility study, and commercial production. The vendor retains a 2% NSR royalty, of which 1% can be repurchased by MBM for $1 million; MBM also has a right of first refusal on the remaining 1%. The deal is subject to TSX Venture Exchange approval.
MBM's portfolio now includes the 100%-owned Legacy Cu-Ag Project, with an inferred resource of 930,000 tonnes containing 13.4 million lbs Cu at 0.66% and 110,000 oz Ag at 3.65 g/t. Puma states that work continues toward a possible separate TSXV listing of MBM, potentially including a distribution of MBM shares to Puma shareholders, while emphasizing this transaction is still conceptual and not guaranteed.
Positive
- 100% interest in Mount McInnes project for limited upfront cash and shares
- 11,837-hectare property adds broad critical minerals exposure near existing assets
- Success-based payments capped at C$185,000 tied to technical milestones and production
- MBM portfolio anchored by Legacy inferred resource of 13.4M lbs Cu and 110,000 oz Ag
- Right to buy back 1% NSR for $1 million improves future project economics flexibility
Negative
- Vendor retains a 2% NSR royalty, adding a future production cost burden
- Agreement remains subject to TSX Venture Exchange approval, introducing closing uncertainty
- Potential MBM TSXV listing and any share distribution to Puma holders are conceptual and not assured
- Additional milestone payments up to C$185,000 create future cash obligations if project advances
AI-generated analysis. How Rhea-AI works. Not financial advice.
Rimouski, Québec--(Newsfile Corp. - August 4, 2026) - Puma Exploration Inc. (TSXV: PUMA) (OTCQB: PUMXF) ("Puma" or the "Company") is pleased to announce that its subsidiary Murray Brook Minerals ("MBM") (
The Mount McInnes Project, located approximately 50 km from Puma's Williams Brook Project (optioned to Kinross), is prospective for silver, gold, lead, zinc, copper, indium, bismuth, tungsten, molybdenum, and tin mineralization. It covers 11,837 hectares and comprises 19 claim blocks (539 claim units) (Figure 1). With two prospective polymetallic projects in its portfolio, MBM is well positioned to explore for and support Canada's domestic supply of critical metals (Figure 2).
Figure 1. Location of the Mount McInnes Project in Northern New Brunswick
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Marcel Robillard, Puma's President and CEO, commented: "The release of New Brunswick's Comprehensive Minerals Strategy, which aims to revitalize the province's mineral sector and bolster domestic production of critical minerals, has resulted in a record number of claims staked in the province in the last year. The Mount McInnes Project adds a highly prospective polymetallic critical metals asset to MBM's portfolio and ensures that the company is well positioned to unlock some of the province's potential."
Figure 2. Canada's critical minerals list highlighting MBM's potential contributions
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ABOUT THE MOUNT MCINNES PROJECT
The claims are underlain by Cambrian-Ordovician sedimentary rocks and Ordovician-Devonian granites (Figure 3). Mineralization is interpreted to be associated with porphyry dykes sourced from a deeper granitic intrusion. Sulphide-bearing alteration zones, veins, and mineralized breccias contain gold, lead, zinc, and indium, as well as tungsten ± molybdenum mineralization. Potential exploration analogues considered by MBM include the Mount Pleasant porphyry system (Cu-Zn-In-W-Mo-Sn) and the Coeur d'Alene district in the northwestern United States.
Historic grab samples* returned up to 314 g/t Ag, 3.0 g/t Au,
Grab samples* from Trench TR12A returned up to 455 ppb Au, 21.9 g/t Ag,
*Historical results are derived from vendor-supplied compilation materials and project statutory reports. HAMILTON, ART, Long Lake Property Assessment Reports, 2009-14. (477749,477049,476745,476363). MBM's Qualified Person has not yet reviewed the original assessment reports or independently verified the sampling, analytical or quality assurance/quality control information.
The Mount McInnes Project has undergone limited modern exploration despite encouraging geological and geochemical indicators. The reported historical assays, soil and stream-sediment anomalies, favourable geology and geophysical targets support further systematic exploration to evaluate the property's mineral potential.
Figure 3. Geology of the Mount McInnes Project
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AGREEMENT EXECUTED ON JUNE 8, 2026 (TRANSACTION DETAILS)
To acquire a
- 500,000 common shares of MBM and a C
$15,000 cash payment at the signature; The cash payment has already been paid. - Make a C
$20,000 cash payment on or before the first anniversary of the signing of the agreement;
Additional performance payments to the Vendor:
- Cash payment of C
$10,000 upon a first 43-101 compliant Resources estimate - Cash payment of C
$25,000 upon a positive preliminary economic assessment; - Cash payment of C
$50,000 upon a positive feasibility study; - One-time cash payment of C
$100,000 upon commercial production.
The Vendor will retain a
ABOUT MURRAY BROOK MINERALS
Murray Brook Minerals Inc., a subsidiary of Puma Exploration, is a private Canadian mineral exploration company. The Murray Brook Minerals' business model, under Puma's successful DEAR strategy - Discovery, Exploration, Acquisition, and Royalties- is to acquire prospective strategic and Critical Minerals properties with excellent discovery potential that a stand-alone public company can explore and develop. In the DEAR Strategy, Puma usually retains an equity position and/or NSR.
MBM's portfolio consists of the
The acquisition adds exposure to a range of critical minerals and complements MBM's Legacy copper-silver asset. It also aligns with New Brunswick's renewed focus on critical minerals.
In July 2026, the Province selected Avenir Minerals, an Agnico Eagle Mines subsidiary, to negotiate an exclusive exploration agreement for the former Lake George antimony mine site, which also has potential for tungsten, molybdenum and gold.
Work towards a potential listing of MBM as a separate TSXV-listed resource company, following a structure similar to the Canadian Copper transaction in 2022, is ongoing. Puma will provide further details as the transaction becomes more concrete, including the potential distribution of MBM shares to Puma shareholders. Presently, the proposed transaction remains conceptual, and there is no guarantee it will proceed or be completed.
QUALIFIED PERSON
The scientific and technical content of this press release has been prepared, reviewed, and approved by Dominique Gagné, P.Geo., VP Exploration of Puma Exploration, a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
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Visit www.explorationpuma.com for more information or contact:
Marcel Robillard, President and CEO.
(418) 750-8510; president@explorationpuma.com
Mia Boiridy, Head of Investor Relations and Director.
(250) 575-3305; mboiridy@explorationpuma.com
Neither the 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.
Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve several known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of Puma to differ materially from those 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. The quarterly and annual reports, as well as the documents submitted to the securities administration, describe these risks and uncertainties.
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