04:48 PM EST, 12/23/2024 (MT Newswires) -- Puma Exploration ( PUMXF ) after close Monday announced the execution of definitive agreements with NB Gold Inc., a private company, and Comet Lithium Corporation ( XTRRF ) to acquire the McKenzie Gold Project, as described previously.

To secure an initial 70% interest in the project, Puma will issue the remaining 200,000 shares to NB Gold to complete the TIMM Property Option; make a cash payment of $20,000 to NB Gold; issue 2 million shares to NB Gold; and issue 450,000 shares to Comet Lithium ( XTRRF ).

"On the heels" of its Williams Brook Project option agreement with Kinross Gold ( KGCRF ) (K.TO, KGC), Puma said it aimed to secure and gain control over a second large and highly prospective mining exploration project. The Mackenzie Gold Project, located only 7 km west of Williams Brook, "shares many of its characteristics and hosts many high-grade gold occurrences (up to 1,315 g/t Au) on the property", it added.

A preliminary exploration program for the MacKenzie Gold Project, with a budget of $500,000, is scheduled for 2025.

PUMA was unchanged at $0.075.