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The board and management of Puddle Pond Resources Inc., “the company” is pleased to provide this corporate update.
The company owns a diverse portfolio of 16 mineral resource projects covering a total area of 600 km2 strategically located in the principal exploration and mining districts on the island of Newfoundland. These projects are highly prospective for precious and base metals, Critical Minerals and Rare Earth Elements.
Newfoundland has been a prime target in North America for mineral exploration with 175,000 mining claims staked by numerous stakeholders since early 2020. This staking activity is the largest recorded for the island and one of the largest staking rushes recorded in Eastern Canada. Much of the interest is sparked by the discovery by New Found Gold of the high grade Keats Main Gold Zone on their Queensway Project.
The company was an early participant in the staking rush successfully building the portfolio of high-quality projects and adding to it’s highly prospective Heritage Gold & Silver Project where drilling since 2013 is outlining an emerging gold & silver resource. The silver mineralization at Heritage ranks it as the best silver project in Eastern Canada.
Puddle Pond has advanced its mineral projects utilizing the technical expertise of its operating team whereby potential mineral resources are outlined and precise drill targets for drilling follow-up have been generated. The 100% owned projects retained by the company contain yet to be NI 43-101 compliant historical, preliminary and geological resources summarized below:
| Project | Resource | Estimate of Present-Day Value (CAD) |
| Heritage Gold – Silver Project | Preliminary resource of 100,000 ozs equivalent gold (gold + silver) | $285,000,000 |
| Handcamp Gold – Silver – Zinc – Copper – Lead Project | Geological resource of 125,000 ozs equivalent gold (gold + all other metals | $355,000,000 |
| Lake Bond Zinc (2.12%) – Copper (0.30%) Project | Historical resource of 2,500,000 tonnes (estimates up to 4,000,000 tonnes) | $195,000,000 |
| Total Potential Estimated Value in Present-Day CAD Dollars | $835,000,000 |
The company expresses its appreciation to its shareholder base throughout North America for its ongoing support allowing it to grow as one of the leading mineral resource companies in Newfoundland and also to its technical team, consultants and advisors who diligently worked in maintaining and growing the portfolio of mineral resource projects.
Puddle Pond also would like to thank Dr. Richard Taylor of Ottawa, ON for his diligent support. Dr. Taylor who joined the management team in November 2020 committed to working with the company for 2 years. He agreed to stay on for an additional year and upon completing his tenure in January 2024 we thank him for his efforts and wish him all the best.
Victor French, P.Geo., a Qualified Person as defined by NI 43-101 and President & COO for Puddle Pond, is responsible for the technical information contained in this News Release.
On Behalf of the Board of Directors
“Victor A. French”
1-709-786-7978
contactus@puddlepondresources.com
About Puddle Pond Resources Inc.: Puddle Pond Resources is a Newfoundland-based mineral exploration company (headquartered in Bay Roberts, Conception Bay) focused on the identification and development of undervalued mineral assets in the Province of Newfoundland & Labrador, one of the Fraser Institute’s top-10 mining jurisdictions in the world. The Company’s present foci are Orogenic Gold, Epithermal Gold-Silver, and Volcanogenic Massive Sulphide deposits. Presently, the Company holds the rights to more than 90,000 hectares (>900 km2) of mineral claims on the Island of Newfoundland, distributed amongst 19 individual properties that are situated in either the “Central Newfoundland Gold Belt”, the “Baie Verte Mining District”, or the “Avalonian Epithermal Belt”.