Puma Exploration’s 70.48%-owned subsidiary, Murray Brook Minerals (MBM), has acquired the Mount McInnes polymetallic project in Northern New Brunswick. The agreement, signed June 8, 2026, grants MBM 100% ownership of 19 claim blocks covering 11,837 hectares.

Under the terms of the deal, MBM issued 500,000 common shares and made an initial C$15,000 cash payment, both of which have been completed. Future obligations include a C$20,000 payment due by June 8, 2027, and staged performance payments linked to project milestones, starting with a C$10,000 payment upon the delivery of a NI 43-101 compliant resource estimate. The vendor retains a 2% net smelter return royalty, half of which MBM may repurchase for C$1 million. The transaction remains subject to TSX Venture Exchange approval.

The project is considered prospective for a range of critical metals, including silver, gold, lead, zinc, copper, indium, bismuth, tungsten, molybdenum, and tin.

"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."

— Marcel Robillard, President and CEO

Puma is currently trading at C$0.11, up 4.76% in today’s session. The company continues to evaluate a potential independent public listing for MBM, similar to a previous structural transaction completed in 2022.

Read the full announcement: Puma's Subsidiary Murray Brook Minerals Acquires Mount McInnes Project