Puma Exploration Inc. - Project Summary

PUMA EXPLORATION
Major Key Player of Zinc Assets
in Canada
www.explorationpuma.comPUMACL-SSEV PUXPF-USPUM-TSXV

2
Established Bathurst Mining Camp
TSX : PUM
Bathurst
Belledune
Campbelton
0 15
km
Quebec
Brunswick #12 Mine
Halfmile
Heath Steel Mine
Stratmat
Puma and
DNR offices
Turgeon
Beresford
Copper
Ann’s
Creek
Red Brook
Airport
Puma Core shack
DNR Core shack
Railway
Caribou
Mine
Restigouche
Mine
Sea port
Major Advantages :
- Skilled labour force
- Regional DNR office
- Core shack
- Airport facilities
- Railway freight service
- Paved roads
- Sea port accessibility
- Smelter
- Mining School
- Mining properties in
operation
Active Projects
N
Location
Legacy
New Brunswick
Trevali
Murray Brook
Deposit

3
Perfect Location For Exploration
Brunswick Lead SmelterPort of Belledune
Railway
Mine Caribou (Trevali)
Brunswick 12
Airport
New-Brunswick
North of New BrunswickInfrastructure
MB
Mining Camp
TSX : PUM

4
Major Zinc Assets Undeveloped
Highlights
Undeveloped Zinc Project
■ Only 12 km from Caribou Mine
■ Measured and indicated resources (Dec 2016)
■ Massive sulphide starts at surface
■ Blue sky drill-ready targets
■ Positive PEA in 2013
New-Brunswick : A Friendly Jurisdiction
■ Famous Bathurst Mining Camp
■ Brunswick#12 : One of the largest underground
zinc mines worldwide
■ Excellent land accessibility
■ Mining infrastructure facilities: seaport and smelter
■ Stable and reliable government policies
Murray Brook Deposit
TSX : PUM

5
Zinc Demand Increases
Forecast Zinc Refined Balance
Source : Teck 2016
ForecastZinc production
Zinc Fundamentals remain strong as supply continues to
tighten.
Physical market already in deficit, currently depleting global
inventorie.
Supply deficits are now anticipated for several years which
should support a period of higher prices.
New projects will not supply current deficits nor annual growth
in zinc demand.
Zinc prices are forecast to average $1.35/lb in 2017 and
$1.55/lb in 2018, continuing the already-impressive gains
made over the course of 2016. (Scotia Bank-30/01/2017)
TSX : PUM

Low Grade Open Pit
17.8 MT
0.47% Cu → 183 M lb
0.99% Pb → 390 M lb
2.73% Zn → 1078 M lb
0.59 g/t Au → 338 K oz
42 g/t Ag → 24 M oz
6
Mineral Resource
- 300m
- 150m
Surface
High Grade Underground
5.2 MT
0.46% Cu → 53 M lb
1.80% Pb → 209 M lb
5.24% Zn → 610 M lb
0.65 g/t Au → 110 K oz
69 g/t Ag → 11.7 M oz
1078 M Lbs Zinc (M + I)
(PEA 2013) (NI 43-101 2016)
TSX : PUM
Open

7
Drilling
30,000 meters drilling: 2010-2013
Hole ID From (m) To (m) Interval (m) Cu % Pb % Zn % Au ppm Ag ppm
MB-2012-138 182.0 226.0 44.0 0.19 4.90 9.16 0.68 164
MB-2011-52 181.0 224.0 43.0 0.29 3.64 8.51 0.99 118
MB-2012-132 165.0 200.0 35.0 0.14 3.48 10.35 1.36 121
MB-2012-110 108.0 154.0 46.0 0.08 1.46 6.96 0.23 57
MB-2011-49 118.0 157.0 39.0 0.32 3.22 7.67 1.39 120
MB-2012-107 60.0 93.0 33.0 0.10 2.63 8.66 0.33 109
MB-2012-70 211.0 234.0 23.0 0.41 4.74 11.94 1.56 153
MB-2012-90 165.0 189.0 24.0 0.13 4.22 11.10 0.74 160
MB-10-16 44.0 71.0 27.0 0.47 3.39 9.56 0.12 122
MB-2011-39 190.0 210.0 20.0 0.18 3.82 10.90 1.34 115
MB-2011-30 55.0 78.0 23.0 0.14 3.03 8.93 0.46 131
TSX : PUM

8TSX : PUM
Mining Titles
Favorable VMS territory
Restigouche
Caribou
Mine Site
Mining lease
Puma Claim
0 3
km
Favorable unit that hosted VMS deposit
Murray Brook
N
Trevali Mining (TSX : TV)
Murray Brook West
Murray Brook East

9
Mine in Operation
Caribou : the best example of success
Caribou
On July 1, 2016, Trevali entered into the production phase at
Caribou, producing zinc and lead-silver concentrates.
After 6 months of commercial production (July 1st to December
31st – 2016 Q3&Q4), Caribou production was 36,7M payable
pounds of zinc, 13,8M payable pounds of lead and 402,067
payable ounces of silver for total revenues of $56,04M (US).
Caribou post commercial production (2016 Q3&Q4) site cash
operating cost was $56.39 (US) per ton milled against a post
commercial annual cost guidance of$64 (US) to $68 (US) per ton
milled.
For the last quarter only (2016 Q4), Caribou site cash operating
costs was $54.79 (US) per ton milled or $0.44 (US) per payable
pound of ZnEq produced.
For 2017, Trevali expects site cash operating costs of
approximately $55 (US) to $60 (US) per ton milled for it’s
expected production of 90M payable pounds of zinc, 30M payable
pounds of lead and 900,000 ounces of payable silver.
TSX : PUM

10
Comparable
Brunswick #12 Mine
82%
63%
51%
55%
Potential Opportunities in Pb and Gold
Murray Brook*
89%
37%
51%
55%
Caribou
78%
60%
?
36%
Metal
Zn
Pb
Cu
Ag
* Scoping metallurgical test program done by RPC in 2012. The Cu/Pb bulk flotation is common to
the Bathurst Camp mineralization and was used by both the former Heath Steele and Xstrata Zinc
Brunswick operations. The production of individual Cu/Pb/Zn concentrates in sequential flotation was
the simpler preferred option and was selected for most of the scoping and optimization tests.
Metallurgy
TSX : PUM

11
Favorable extension along strike
Increase resource
7.8% Zn /2.4m
The massive sulphide
body is thick, and its
dip 45º with confined
to depths of less than
300 meters below the
surface.
TSX : PUM

12
Regional exploration
Murray Brook Claims :Exploration along trend of the Murray Brook and Caribou, to consist of a 2000m
diamond drill program to test targets mainly by geology, ground gravity surveys and airborne EM.
Fives drilled holes are
proposed based primarily
on :
- Gravity
- Favorable geology,
Mount Brittain
sediments that host
Murray Brook massive
sulfides
- EM survey
Blue sky drill-ready targets
Favorable horizon
TSX : PUM

13
Blue sky drill-ready targets
Ground gravity survey was performed by Votorantim in 2012. Murray Brook massive sulfide display
a strong gravity signature and out the discreet anomalies may correspond to massive sulfide.
Priority Target
2km from Caribou Mine
Murray Brook
Major fault zone
Murray Brook Deposit Regional exploration
TSX : PUM

14
Potential Economic Viable Acquisition
for only 9M$
Payment Schedule
Votorantim
(70%)
El Nino
(30%)
PUM
(Shares)
Environmental
Bond
February 28th-2017 $ 1 000 000
April 30th-2017 $ 250 000 5,000,000
February 28th-2018 $ 2 000 000 $ 2 000 000
Avril 30th-2018 $ 1 500 000
Avril 30th-2019 $ 1 000 000
September 30th-2019 $ 3 000 000
TOTAL: $ 6 000 000 $ 2 750 000 5,000,000 $ 2 000 000
MilestonesMurray Brook Deposit
TSX : PUM

15
Focused on development stages
Development program
Program 6 Months 12 Months > 1 Year
Recovery and geotechnical X
Preliminary Economic Assesment (PEA) X X
Surface Exploration (mapping-trenching) X X
2000 meters of Exploration Drilling X X
Water Monitoring Study X X
Permitting X
Feasibility Study X
2017
TSX : PUM

16
Additional Resource Potential
Highlights
Ann’s Creek Ag-Au-Pb-Zn Project
Nicholas-Denys Mo-Cu Project
Turgeon VMS C-Zn Project
100% owned by Puma, located in mafic volcanic sequence, 4 lenses known.
30,000 meters of drilling : historical resource of 1.5 to 2.0 M. tons grading 1.5% Cu and 4% Zn.
2017 : Update of resource estimate and drill program to find additional VMS lenses.
100% owned, high grade silver lens with excellent gold, zinc and lead grades.
2008 : indicated resource of 1.1 M ounces of silver with 0.78 M ounces of inferred resource.
100% owned, porphyry system 4km by 4km, IP drill ready targets.
Discovery hole in 2014 : FND14-02 hit 0.065% Mo over 200m (incl. 0.08% Mo over 117m).
Additional Puma Assets
TSX : PUM
Since last Resource Estimates :84 additional holes drilled for 84,000 meters.

Contact Information :
Puma Exploration Inc.
175, rue Legaré
Rimouski, Québec, Canada
G5L 3B9
418-724-0901
info@explorationpuma.com
www.explorationpuma.comPUMACL-SSEV PUXPF-USPUM-TSXV

Puma Exploration Inc. - Project Summary

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Puma Exploration Inc. - Project Summary