21 Jun 2024

Puddle Pond Resources Inc. is pleased to report the discovery of high-grade copper mineralization assaying up to 4.68% Cu at it’s 100% owned Handcamp Project situated along the TCH and 10 kms south of the historic mining centre of Springdale. The prospecting team led by veteran and nationally recognized prospector Fred Keats has uncovered the mineralization in sub outcrop and boulders along a 600 metre (2000 ft) zone. The surface exposures up to 2.5m (8ft) wide are highly rusty (gossanous) with up to massive sulphide containing visible copper mineralization (chalcopyrite & native copper).

The mineralization is highly magnetic and is aligned along a distinct north-northeast trending magnetic geophysical anomaly which is 2,000 metres (6500 ft) long. This alignment of the magnetic mineralization along this untested anomaly is noteworthy as it presents a probable source for the newly discovered mineralization.

The large 315 claim Handcamp Project containing 19,766.25 acres – 8,002.53 hectares covers a 20 km section of the highly prospective Buchans-Roberts Arm Belt of rocks host to several past producing mines. These former producers include the Gullbridge Copper Mine immediately to the south and the world famous Buchans Mine which over a 50 year mine life produced over 16 million tonnes of ore valued at $6.2 Billion.

In addition, the project also envelopes a long (20 km), continuous section of the “Red Indian Line”, a major, regional lithotectonic boundary and transcrustal fault system. This north-northeast trending fault zone is one of several major fault systems in Newfoundland which are the focus of a high level of exploration activity generated by the recent discovery of New Found Gold’s Queensway Gold Project sited along the Appleton Fault Linear in central Newfoundland.

Since acquiring the project in 2021 research work and modeling by consultants Dr. John Stewart and Dr. Helen Williams of Geokincern Ltd. of Auckland, NZ show the Handcamp Project is highly prospective. The project is within the historic mine-producing Buchans-Roberts Arm belt of rocks and situated along the major structural zone or corridor defined by the Red Indian line. These international consultants are highly experienced having worked in globally important mining districts including the Borborema Province (Brazil), and the western Lachlan Fold Belt (Australia).

The mineral potential of the Handcamp Project and the importance of the Red Indian Line for focusing mineralization was confirmed in earlier discoveries by the Keats prospecting team since 2021. These include economic gold and silver mineralization (e.g. 6.50 metres at 5.64 g/t Au and 32.55 g/t Ag – 6.03 g/t AuEq), and high-grade polymetallic mineralization in massive sulphide (e.g. 10.0 g/t Au, 273.0 g/t Ag, 2.38% Cu, 3.17% Zn, and 3.36% Pb). This mineralization intersected in drill core from recent Puddle Pond drilling is along the Handcamp Horizon 3 kms north-northeast of the newly discovered copper zone.

The board and management are very pleased with the new copper discovery as it appears to be an extension of the Handcamp Horizon and as such represents a robust mineralizing system with several types of mineralization. The new recognition of the potential along the Handcamp Horizon of the Red Indian Structural Zone is a result of the collaborative work by Geokincern Ltd. and the Keats Prospecting Team.

Puddle Pond also acknowledges the support received from the Newfoundland & Labrador Department of Industry, Energy & Technology in fully permitting the 2024 exploration program which includes a drilling program designed to further test the mineral potential of the Handcamp Horizon. The field program will operate from a fully integrated base camp including core processing and storage facility within the project area and located along the Trans Canada Highway. A full range of exploration services including drilling and assaying laboratory is located at Springdale, 10 mins drive from the camp.

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 80,000 hectares (>900 km2) of mineral claims on the Island of Newfoundland, distributed amongst 16 individual properties that are situated in either the “Springdale – Baie Verte Mining District”, “Central Newfoundland Gold Belt”, and the “Avalonian Epithermal Belt”.

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