18 May 2022

Mr. Victor (Vic) French, President & COO, reports:

BAY ROBERTS, NEWFOUNDLAND / May 18th, 2022 / PUDDLE POND RESOURCES INC. (the “Company” or “Puddle Pond”) is pleased to report that the Company’s first drill-hole (DDH 22-01) at its 100%-owned Handcamp Project in central Newfoundland has intersected a significant width of near-surface, ore-grade, gold mineralization:

  • 7.30 metres (24 feet) of 3.90 g/t Au & 29.13 g/t Ag (or 4.25 g/t AuEq)

in a broader interval of:

  • 15.70 metres (52 feet) of 2.04 g/t Au & 15.72 g/t Ag (or 2.23 g/t AuEq)

The scout drilling program, totalling 700-800 metres (~2,500 feet) in approximately ten drillholes, has two main goals:

  1. To test the continuity of shear-zone hosted gold mineralization in the shallow subsurface (at depths of less than 90 metres or 300 feet) over a strike length of approximately 600 metres (~2,000 feet).
  2. To generate lithological and structural data that will aid in: (a) the determination of the fundamental controls of the distribution of gold mineralization and its accompanying alteration; and (b) the characterization of the structures and fabrics of the host shear zone.

Mr. French commented: “Since our acquisition of the original Handcamp claims in May of 2021 we have been single minded in our commitment to show the potential of the area as a host for orogenic-style gold mineralization. The results of last year’s program of trenching and channel sampling were highly encouraging in this regard, and we certainly hope that this inaugural program of drilling will further add to the already compelling evidence that such gold mineralization is widespread in a near-surface setting.”

On Behalf of the Board of Directors

“Victor A. French”



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”.

Qualified Person: Victor French, P.Geo., President of Puddle Pond Resources Inc., and a Qualified Person (“QP”) as defined by Canadian National Instrument 43-101, has reviewed, and approved the technical information contained in this News Release. The drilling campaign and quality control program have been planned and supervised by Victor French.

Quality Assurance/Quality Control: Drill-core samples were sent to Eastern Analytical of Springdale (Newfoundland & Labrador) to be analyzed for gold and 34 other chemical elements (“Au Fire Assay + ICP-34”). Gold was analyzed by atomic absorption (AA) following fire assaying on a 30-gram sample fraction. Other elements (including silver) were analyzed using the four-acid ICP-OES (Inductively Coupled Plasma-Optical Emission Spectrometer) method. The quality assurance and control protocol include insertion of a blank or standard every 15 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples. Puddle Pond uses a series of Reference Materials accredited by CDN Resource Laboratories Ltd. of Langley, British Columbia (e.g., Reference Material CDN-GS-2W with 2.10 ± 0.14 g/t Au and 77 ± 6 g/t Ag).

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