|
**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
LOS ANGELES, August 07, 2025--(BUSINESS WIRE)--Puma Biotechnology, Inc. (NASDAQ: PBYI), a biopharmaceutical company, announced financial results for the second quarter ended June 30, 2025. Unless otherwise stated, all comparisons are for the second quarter 2025 compared to the second quarter 2024.
Product revenue, net consists entirely of revenue from sales of NERLYNX®, Puma’s first commercial product. Product revenue, net in the second quarter of 2025 was $49.2 million, compared to product revenue, net of $44.4 million in the second quarter of 2024. Product revenue, net in the first six months of 2025 was $92.3 million, compared to $84.6 million in the first six months of 2024.
Based on accounting principles generally accepted in the United States (GAAP), Puma reported net income of $5.9 million, or $0.12 per basic and diluted share, for the second quarter of 2025, compared to a net loss of $4.5 million, or $0.09 per share, for the second quarter of 2024. Net income for the first six months of 2025 was $8.8 million, or $0.18 per basic and diluted share, compared to a net loss of $9.3 million, or $0.19 per share, for the first six months of 2024.
Non-GAAP adjusted net income was $7.5 million, or $0.15 per basic and diluted share, for the second quarter of 2025, compared to a non-GAAP adjusted net loss of $2.5 million, or $0.05 per share, for the second quarter of 2024. Non-GAAP adjusted net income for the first six months of 2025 was $12.4 million, or $0.25 per basic and diluted share, compared to a non-GAAP adjusted net loss of $4.9 million, or $0.10 per share, for the first six months of 2024. Non-GAAP adjusted net income (loss) excludes stock-based compensation expense. For a reconciliation of GAAP net income (loss) to non-GAAP adjusted net income (loss) and GAAP net income (loss) per share to non-GAAP adjusted net income (loss) per share, please see the financial tables at the end of this news release.
Net cash provided by operating activities for the second quarter of 2025 was $14.1 million, compared to $1.0 million in the second quarter of 2024. Net cash provided by operating activities for the first six months of 2025 was $17.7 million, compared to net cash provided by operating activities of $12.3 million in the first six months of 2024. At June 30, 2025, Puma had cash, cash equivalents and marketable securities of $96.0 million, compared to cash, cash equivalents and marketable securities of $101.0 million at December 31, 2024.
"We are pleased to report both the growth in revenues in the second quarter as well as the positive net income for the quarter," said Alan H. Auerbach, Chairman, Chief Executive Officer and President of Puma. "We are pleased to see the year over year growth being driven by NERLYNX® demand and we are also pleased with the progress in the clinical development of alisertib in both chemotherapy-naïve HER2-negative, hormone receptor-positive metastatic breast cancer and small cell lung cancer as well."
Story Continues
Mr. Auerbach added, "We anticipate the following key milestones over the next 12 months: (i) presentation of interim data from ALISCA™-Breast1, a Phase II trial of alisertib in combination with endocrine treatment in patients with chemotherapy-naïve HER2-negative, hormone receptor-positive metastatic breast cancer (Q4 2025) and (ii) presentation of additional interim data from the ALI-4201/ALISCA™-Lung1, a Phase II clinical trial of alisertib monotherapy for the treatment of patients with extensive stage small cell lung cancer (Q4 2025)."
Revenue
Total revenue consists of product revenue, net from sales of NERLYNX®, Puma’s first commercial product, and royalty revenue. For the second quarter ended June 30, 2025, total revenue was $52.4 million, of which $49.2 million was net product revenue and $3.2 million was royalty revenue. This compares to total revenue for the second quarter of 2024 of $47.1 million, of which $44.4 million was net product revenue and $2.7 million was royalty revenue. For the first six months of 2025, total revenue was $98.4 million, of which $92.3 million was net product revenue and $6.1 million was royalty revenue. This compares to total revenue for the first six months of 2024 of $90.8 million, of which $84.6 million was net product revenue and $6.2 million was royalty revenue.
Operating Costs and Expenses
Total operating costs and expenses were $45.8 million for the second quarter of 2025, compared to $49.3 million for the second quarter of 2024. Operating costs and expenses in the first six months of 2025 were $87.8 million, compared to $95.3 million in the first six months of 2024.
Cost of Sales
Cost of sales was $12.3 million for the second quarter of 2025, compared to $10.7 million for the second quarter of 2024. Cost of sales was $22.9 million for the first six months of 2025, compared to $21.4 million for the first six months of 2024. The increase in the first six months of 2025 was due to higher royalty expense and product costs resulting from increased worldwide net sales.
Selling, General and Administrative Expenses
Selling, general and administrative (SG&A) expenses were $18.0 million for the second quarter of 2025, compared to $25.0 million for the second quarter of 2024. SG&A expenses for the first six months of 2025 were $35.6 million, compared to $46.7 million for the first six months of 2024. The $11.1 million year-over-year decrease for the first six months resulted primarily from legal fees associated with the AstraZeneca litigation in the prior year.
Research and Development Expenses
Research and development (R&D) expenses were $15.5 million for the second quarter of 2025, compared to $13.6 million for the second quarter of 2024. R&D expenses for the first six months of 2025 were $29.3 million, compared to $27.2 million for the first six months of 2024. The $2.1 million year-over-year increase for the first six months resulted primarily from increased alisertib study activity.
Total Other Income (Expenses)
Total other income/expenses were $0.4 million for the second quarter of 2025, compared to total other expenses of $2.0 million for the second quarter of 2024. Total other income/expenses were $1.2 million for the first six months of 2025, compared to total other expenses of $4.2 million for the first six months of 2024. The $3.0 million year-over-year decrease in other expenses for the first six months of 2025 was primarily due to a lower debt balance as we continue to pay down our principal.
Third Quarter and Full Year 2025 Financial Outlook
Third Quarter 2025 Full Year 2025 (current) Full Year 2025 (previous) Net Product Revenue $46–$48 million $192–$198 million $192–$198 million Royalty Revenue $2–$3 million $20–$24 million $20–$24 million License Revenue $0 million $0 million $0 million Total Revenue $48–$51 million $212–$222 million $212–$222 million Net Income/(Loss)* $2–$4 million $23–$28 million $23–$28 million Gross to Net Adjustment 22.5%–23.5% 21.5%–22.0% 20.5%–21.5% *The outlook above does not include any adjustments for tax valuation allowance.
Conference Call
Puma Biotechnology will host a conference call to report its second quarter 2025 financial results and provide an update on Puma’s business and outlook at 1:30 p.m. PT/4:30 p.m. ET on Thursday, August 7, 2025. The call may be accessed by dialing (877) 709-8150 (domestic) or (201) 689-8354 (international). Please dial in at least 10 minutes in advance and inform the operator that you would like to join the "Puma Biotechnology Conference Call." A live webcast of the conference call and presentation slides may be accessed on the Investors section of the Puma Biotechnology website at https://www.pumabiotechnology.com. A replay of the call will be available shortly after completion of the call and will be archived on Puma’s website for 90 days.
About Puma Biotechnology
Puma Biotechnology, Inc. is a biopharmaceutical company with a focus on the development and commercialization of innovative products to enhance cancer care. Puma in-licensed the global development and commercialization rights to PB272 (neratinib, oral) in 2011. Neratinib, oral was approved by the U.S. Food and Drug Administration in 2017 for the extended adjuvant treatment of adult patients with early stage HER2-overexpressed/amplified breast cancer, following adjuvant trastuzumab-based therapy, and is marketed in the United States as NERLYNX® (neratinib) tablets. In February 2020, NERLYNX was also approved by the FDA in combination with capecitabine for the treatment of adult patients with advanced or metastatic HER2-positive breast cancer who have received two or more prior anti-HER2-based regimens in the metastatic setting. NERLYNX was granted marketing authorization by the European Commission in 2018 for the extended adjuvant treatment of adult patients with early stage hormone receptor-positive HER2-overexpressed/amplified breast cancer and who are less than one year from completion of prior adjuvant trastuzumab-based therapy. NERLYNX® is a registered trademark of Puma Biotechnology, Inc.
In September 2022, Puma entered into an exclusive license agreement for the development and commercialization of the anti-cancer drug alisertib, a selective, small molecule, orally administered inhibitor of aurora kinase A. Initially, Puma intends to focus the development of alisertib on the treatment of small cell lung cancer and breast cancer. In February 2024, Puma initiated ALISCA™-Lung1, a Phase II clinical trial of alisertib monotherapy for the treatment of patients with extensive-stage small cell lung cancer. In November 2024, Puma initiated ALISCA™-Breast1, a Phase II clinical trial of alisertib in combination with endocrine therapy for the treatment of patients with HER2-negative, HR-positive metastatic breast cancer.
To help ensure patients have access to NERLYNX, Puma has implemented the Puma Patient Lynx support program to assist patients and healthcare providers with reimbursement support and referrals to resources that can help with financial assistance. More information on the Puma Patient Lynx program can be found at https://www.NERLYNX.com or by calling 1-855-816-5421.
Further information about Puma Biotechnology may be found at https://www.pumabiotechnology.com.
INDICATIONS
NERLYNX® (neratinib) tablets, for oral use, is a kinase inhibitor indicated:
As a single agent, for the extended adjuvant treatment of adult patients with early stage HER2-positive breast cancer, to follow adjuvant trastuzumab-based therapy. In combination with capecitabine, for the treatment of adult patients with advanced or metastatic HER2-positive breast cancer, who have received two or more prior anti-HER2 based regimens in the metastatic setting.
Important Safety Information Regarding NERLYNX® (neratinib) U.S. Indication
CONTRAINDICATIONS: None
WARNINGS AND PRECAUTIONS:
Diarrhea: Manage diarrhea through either NERLYNX dose escalation or loperamide prophylaxis. If diarrhea occurs despite recommended prophylaxis, treat with additional antidiarrheals, fluids, and electrolytes as clinically indicated. Withhold NERLYNX in patients experiencing severe and/or persistent diarrhea. Permanently discontinue NERLYNX in patients experiencing Grade 4 diarrhea or Grade ≥ 2 diarrhea that occurs after maximal dose reduction. Hepatotoxicity: Monitor liver function tests monthly for the first 3 months of treatment, then every 3 months while on treatment and as clinically indicated. Withhold NERLYNX in patients experiencing Grade 3 liver abnormalities and permanently discontinue NERLYNX in patients experiencing Grade 4 liver abnormalities. Embryo-Fetal Toxicity: NERLYNX can cause fetal harm. Advise patients of potential risk to a fetus and to use effective contraception.
ADVERSE REACTIONS: The most common adverse reactions (reported in ≥ 5% of patients) were as follows:
NERLYNX as a single agent: diarrhea, nausea, abdominal pain, fatigue, vomiting, rash, stomatitis, decreased appetite, muscle spasms, dyspepsia, AST or ALT increased, nail disorder, dry skin, abdominal distention, epistaxis, weight decreased, and urinary tract infection. NERLYNX in combination with capecitabine: diarrhea, nausea, vomiting, decreased appetite, constipation, fatigue/asthenia, weight decreased, dizziness, back pain, arthralgia, urinary tract infection, upper respiratory tract infection, abdominal distention, renal impairment, and muscle spasms.
To report SUSPECTED ADVERSE REACTIONS, contact Puma Biotechnology, Inc. at 1-844-NERLYNX (1-844-637-5969) or FDA at 1-800-332-1088 or www.fda.gov/medwatch.
DRUG INTERACTIONS:
Gastric acid reducing agents: Avoid concomitant use with proton pump inhibitors. Separate NERLYNX by at least 2 hours before or 10 hours after H2-receptor antagonists. Or separate NERLYNX by at least 3 hours after antacids. Strong CYP3A4 inhibitors: Avoid concomitant use. P-gp and moderate CYP3A4 dual inhibitors: Avoid concomitant use. Strong or moderate CYP3A4 inducers: Avoid concomitant use. Certain P-gp substrates: Monitor for adverse reactions of P-gp substrates for which minimal concentration change may lead to serious adverse reactions when used concomitantly with NERLYNX.
USE IN SPECIFIC POPULATIONS:
Lactation: Advise women not to breastfeed.
Please see Full Prescribing Information for additional safety information.
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding Puma’s anticipated milestones and estimates of future financial results for the third quarter and full year 2025. All forward-looking statements involve risks and uncertainties that could cause Puma’s actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are based on current expectations, forecasts and assumptions, and actual outcomes and results could differ materially from these statements due to a number of factors, which include, but are not limited to, any adverse impact on Puma’s business or the global economy and financial markets, any changes in Puma’s product candidates’ regulatory approvals, results from Puma’s clinical trials, any litigation involving Puma, any changes to Puma’s in-licensed intellectual property and the risk factors disclosed in the periodic and current reports filed by Puma with the Securities and Exchange Commission from time to time, including Puma’s Annual Report on Form 10-K for the year ended December 31, 2024 and subsequent filings. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Puma assumes no obligation to update these forward-looking statements, except as required by law.
(Financial Tables Follow)
PUMA BIOTECHNOLOGY, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions except share and per share data) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues: Product revenue, net $ 49.2 $ 44.4 $ 92.3 $ 84.6 Royalty revenue 3.2 2.7 6.1 6.2 Total revenue 52.4 47.1 98.4 90.8 Operating costs and expenses: Cost of sales 12.3 10.7 22.9 21.4 Selling, general and administrative 18.0 25.0 35.6 46.7 Research and development 15.5 13.6 29.3 27.2 Total operating costs and expenses 45.8 49.3 87.8 95.3 Income (loss) from operations 6.6 (2.2 ) 10.6 (4.5 ) Other income (expenses): Interest income 1.0 1.2 2.0 2.2 Interest expense (1.8 ) (3.4 ) (4.0 ) (6.6 ) Other income 0.4 0.2 0.8 0.2 Total other expenses, net (0.4 ) (2.0 ) (1.2 ) (4.2 ) Net income (loss) before income taxes 6.2 (4.2 ) 9.4 (8.7 ) Income tax expense (0.3 ) (0.3 ) (0.6 ) (0.6 ) Net income (loss) $ 5.9 $ (4.5 ) $ 8.8 $ (9.3 ) Net income (loss) per share of common stock—basic $ 0.12 $ (0.09 ) $ 0.18 $ (0.19 ) Net income (loss) per share of common stock—diluted $ 0.12 $ (0.09 ) $ 0.18 $ (0.19 ) Weighted-average shares of common stock outstanding—basic 49,700,217 48,292,414 49,648,246 48,240,835 Weighted-average shares of common stock outstanding—diluted 50,144,704 48,292,414 50,003,709 48,240,835
PUMA BIOTECHNOLOGY, INC. AND SUBSIDIARY
LIQUIDITY AND CAPITAL RESOURCES
(in millions) June 30, December 31, 2025 2024 (Unaudited) Cash and cash equivalents $ 54.7 $ 69.2 Marketable securities 41.4 31.7 Working capital 57.5 51.5 Current portion of long-term debt 34.0 45.3 Long-term debt 10.9 21.7 Stockholders’ equity 104.7 92.1
Six Months Ended Six Months Ended June 30, 2025 June 30, 2024 (Unaudited) (Unaudited) Cash provided by (used in): Operating activities $ 17.7 $ 12.3 Investing activities (9.7 ) (18.4 ) Financing activities (22.5 ) (11.3 ) Net decrease in cash, cash equivalents and restricted cash $ (14.5 ) $ (17.4 )
Use of Non-GAAP Measures
In addition to operating results as calculated in accordance with GAAP, Puma uses certain non-GAAP financial measures when planning, monitoring, and evaluating operational performance. The following table presents Puma’s net income (loss) and net income (loss) per share calculated in accordance with GAAP and as adjusted to remove the impact of stock-based compensation expense. For the three months and six months ended June 30, 2025, stock-based compensation represented approximately 4.9% and 5.6% of operating expenses, respectively, and 5.3% and 6.0% for the same periods in 2024, in each case excluding cost of sales and acquired in-process research and development. Puma’s management believes that these non-GAAP financial measures are useful to enhance understanding of Puma’s financial performance, are more indicative of its operational performance, and facilitate a better comparison among fiscal periods. These non-GAAP financial measures are not, and should not be viewed as, substitutes for GAAP reporting measures.
PUMA BIOTECHNOLOGY, INC. AND SUBSIDIARY
Reconciliation of GAAP Net Income (Loss) to Non-GAAP Adjusted Net Income (Loss) and
GAAP Net Income (Loss) Per Share to Non-GAAP Adjusted Net Income (Loss) Per Share
(in millions except share and per share data)
(Unaudited) Three Months Ended June 30, 2025 2024 GAAP net income (loss) $ 5.9 $ (4.5 ) Adjustments: Stock-based compensation - Selling, general and administrative (1) 1.0 1.4 Research and development (2) 0.6 0.6 Non-GAAP adjusted net income (loss) $ 7.5 $ (2.5 ) GAAP net income (loss) per share—basic $ 0.12 $ (0.09 ) Adjustment to net income (loss) (as detailed above) 0.03 0.04 Non-GAAP adjusted basic net income (loss) per share $ 0.15 (3) $ (0.05 ) (4) GAAP net income (loss) per share—diluted $ 0.12 $ (0.09 ) Adjustment to net income (loss) (as detailed above) 0.03 0.04 Non-GAAP adjusted diluted net income (loss) per share $ 0.15 (5) $ (0.05 ) (6)
Six Months Ended June 30, 2025 2024 GAAP net income (loss) $ 8.8 $ (9.3 ) Adjustments: Stock-based compensation - Selling, general and administrative (1) 2.2 2.8 Research and development (2) 1.4 1.6 Non-GAAP adjusted net income (loss) $ 12.4 $ (4.9 ) GAAP net income (loss) per share—basic $ 0.18 $ (0.19 ) Adjustment to net income (loss) (as detailed above) 0.07 0.09 Non-GAAP adjusted basic net income (loss) per share $ 0.25 (3) $ (0.10 ) (4) GAAP net income (loss) per share—diluted $ 0.18 $ (0.19 ) Adjustment to net income (loss) (as detailed above) 0.07 0.09 Non-GAAP adjusted diluted net income (loss) per share $ 0.25 (5) $ (0.10 ) (6)
(1) To reflect a non-cash charge to operating expense for selling, general, and administrative stock-based compensation. (2) To reflect a non-cash charge to operating expense for research and development stock-based compensation. (3) Non-GAAP adjusted basic net income per share was calculated based on 49,700,217 and 49,648,246 weighted-average shares of common stock outstanding for the three and six months ended June 30, 2025, respectively. (4) Non-GAAP adjusted basic net loss per share was calculated based on 48,292,414 and 48,240,835 weighted-average shares of common stock outstanding for the three and six months ended June 30, 2024, respectively. (5) Non-GAAP adjusted diluted net income per share was calculated based on 50,144,704 and 50,003,709 weighted-average shares of common stock outstanding for the three and six months ended June 30, 2025, respectively. (6) Potentially dilutive common stock equivalents (stock options restricted stock units and warrants) were not included in this non-GAAP adjusted diluted net loss per share for the three and six months ended June 30, 2024, as these shares would be considered anti-dilutive.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250807802022/en/
Contacts
Alan H. Auerbach or Mariann Ohanesian, Puma Biotechnology, Inc., +1 424 248 6500
info@pumabiotechnology.com
ir@pumabiotechnology.com
David Schull or Olipriya Das, Russo Partners, +1 212 845 4200
david.schull@russopartnersllc.com
olipriya.das@russopartnersllc.com
View Comments |
|
**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Rimouski, Québec--(Newsfile Corp. - August 7, 2025) - Puma Exploration Inc. (TSXV: PUMA) (OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce additional high-grade grab samples at the Lion Gold Zone ("LiGZ") including 55.70 g/t Au, 54.50 g/t Au, 15.30 g/t Au and 12.70 g/t Au* from the ongoing 2025 exploration program at the Williams Brook Project in Northern New Brunswick. (*The reader is cautioned that grab samples are selective by nature and may not represent the true metal content of the mineralized zone.)
These latest results highlight the potential of the LiGZ that was discovered through prospecting and trenching in 2024. An area that spans 400 m along strike and 10 to 25 m in width has now been stripped (Figure 1). The 2025 exploration program uncovered several altered and brecciated gold-mineralized quartz veins, up to 2 metres in width, and numerous veinlets. A total of 390 samples were collected in 2024 (250) and 2025 (140), with 35% returning grades above 0.1 g/t Au. Samples collected in 2025 with results above 5 g/t Au are highlighted on Figures 1 and 2. The zone remains open in all directions.
Figure 1. 2025 stripping and previous results at the Lion Gold Zone
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3398/261549_b9d7753ad4505b80_001full.jpg
Marcel Robillard, president and CEO, noted: ''These exploration results at Lion are reminiscent of the 2020 preliminary sampling at Lynx, where subsequently impressive gold mineralization was intercepted by drilling at depth. Our sampling to date has confirmed a 400 m strike extension. These early exploration results at Lion continue to highlight the scale and continuity of mineralization at Williams Brook. There is significant potential for more discoveries on the property, and we continue to work diligently to unlock its full potential."
The recently stripped area will be cleaned to allow for detailed mapping and channel sampling in preparation for further detailed surveys and eventual drilling. A drone magnetic survey was also flown over the stripped area and extended to 8 kilometres along strike to map the potential extension of the zone to the east.
Figure 2. Sampling at the newly stripped area of the Lion Gold Zone
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3398/261549_b9d7753ad4505b80_002full.jpg
LION GOLD ZONE
The Lion Gold Zone (''LIGZ''), discovered in 2024, is closely associated with a major regional structure, the McCormack Brook Fault and a mafic intrusive unit. The LiGZ is part of a mineralized structure located about 10km north of the Lynx Gold Zone and shares the same geological characteristics. Gold mineralization is found in brecciated quartz veins heavily altered by sericite and limonite and closely associated with an altered mafic intrusive/dike that separates the altered sediments from the fault (Image 1). The area remains wide open as the McCormack Brook Fault is mapped for at least 30 kilometres.
Story Continues
Image 1. Photos of typical high-grade gold quartz veins
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3398/261549_pumaimage1.jpg
WILLIAMS BROOK 2025 EXPLORATION PROGRAM UPDATE
3,500 metres of drilling are underway at the Lynx Gold Zone; 2,135 km of drone magnetic geophysical surveys were completed; Five (5) trenches for 299 m were completed at the Cheetah Gold Zone ("CHGZ"). The CHGZ was discovered in 2023, 3 km along strike of the Tiger Gold Zone, where initial trenching returned 6.69 g/t Au*. Highlights of the 2025 sampling include 4.60 g/t Au* in a newly discovered area. (*The reader is cautioned that grab samples are selective by nature and may not represent the true metal content of the mineralized zone.); Eleven (11) trenches for 796 metres were completed at Target 2; Channel sampling was completed at the Lynx Gold Zone with over 400 samples collected.
Figure 3. Location of the main 2025 exploration activities at WB
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3398/261549_b9d7753ad4505b80_005full.jpg
Qualified Person
The scientific and technical content of this press release has been prepared, reviewed, and approved by Mr. Dominique Gagné, P.Geo., Vice President of Exploration, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
On-site quality assurance/quality control (QA/QC) measures
Grab samples are bagged, sealed and sent to ALS CHEMEX in Moncton, New Brunswick, where each sample is crushed and pulped before being fire-assayed (Au-ICP21). The remaining coarse reject portions of the samples remain in storage for further work or verification as needed. As part of its QA/QC program, the Company inserts external gold standards (low to high grade) and blanks every 20 samples in addition to standards, blanks, and duplicates. All samples over 10 g/t gold are analyzed with a gravity finish (Au-GRA22). Check assays are routinely performed for samples with visible gold to ascertain the gold content of the mineralization zone.
About the Williams Brook Project
The Williams Brook Project (40,225 ha), optioned to Kinross Gold Corp (see October 24, 2024 News Release), comprises the Williams Brook Property, the Jonpol Property and the Portage Property. To earn a 65% interest in the project, Kinross can finance a minimum of $16.75 million in exploration expenditures over the next five years (including a firm commitment of $2 million with at least 5,000 metres of drilling in the first 18 months).
About Puma's Assets in New Brunswick
Puma has accumulated an impressive portfolio of prospective gold landholdings strategically located close to roads and infrastructure in Northern New Brunswick, including the Williams Brook Project and the new McKenzie Gold Project. Both are located near the Rocky Brook Millstream Fault ("RBMF"), a major regional structure formed during the Appalachian Orogeny and a significant control for gold deposition in the region. Puma's work to date has focused on the Williams Brook property, but prospecting and surface exploration work on its other properties have confirmed their potential for significant gold mineralization.
About Puma Exploration
Puma Exploration is a Canadian mineral exploration company focused on identifying and developing a pipeline of precious metals projects in New Brunswick, near Canada's Renowned Bathurst Mining Camp. Puma has a long history in Northern New Brunswick, having worked on regional projects for over 15 years. Puma's successful exploration methodology, which combines traditional prospecting methods with detailed trenching and cutting-edge technologies such as Artificial Intelligence, has been instrumental in facilitating an understanding of the region's geology and associated mineralized systems. Armed with geophysical surveys, geochemical data, and consultants' expertise, Puma has developed a cost-effective exploration tool to discover gold at shallow depths and maximize drilling results.
Connect with us on Facebook, X, or LinkedIn.
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 Corporate Development.
(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 and the documents submitted to the securities administration describe these risks and uncertainties.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261549
View Comments |
