12 Aug 2022

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

BAY ROBERTS, NEWFOUNDLAND / August 12th, 2022 / PUDDLE POND RESOURCES INC. (the “Company” or “Puddle Pond”) is pleased to report that the Company was able to complete an additional (eleventh) drillhole from its inaugural drilling program at the 100%-owned Handcamp Project in Central Newfoundland. This last drillhole from the “scout” drilling program cut three separate intervals of gold mineralization and is a further demonstration of the continuity and predictability of the newly discovered zone of near-surface mineralization. Drilled at a dip of 50° all three of the gold-mineralized intervals occur within 50 metres of the surface.

Drill hole H22-11

¨ Upper interval:  2.33 g/t Au over 6.30 metres (21 feet) from 36.95-43.25 metres.

¨ Middle interval:  0.42 g/t Au over 3.30 metres (11 feet) from 47.60-50.90 metres.

¨ Lower interval:  1.95 g/t Au over 0.85 metres (3 feet) from 54.35-55.20 metres.

Located close to the Trans-Canada Highway and the town of Springdale, the Handcamp Gold Project benefits from the excellent local exploration/mining infrastructure and accordingly Puddle Pond’s operating costs at Handcamp are amongst the lowest of any exploration project on the Island of Newfoundland.

Mr. French commented: “This eleventh and final drillhole of the inaugural program at the Handcamp Gold Project demonstrates once again the continuity and predictability of the near-surface zone of gold mineralization discovered in last year’s program of prospecting and trenching. Also, as we acquire more drill data it is evident that there are other structurally controlled, gold-mineralized intervals in addition to that of the main mineralized zone.”

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 Corp., 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 (“QA/QC”)

Drill-core samples, selected by Puddle Pond exploration personnel were submitted to Eastern Analytical Ltd. (Newfoundland & Labrador) for assaying and geochemical analysis. Samples were delivered in sealed bags directly to the lab in Springdale by Puddle Pond staff. Eastern Analytical is an ISO 17025 Certified Assay Laboratory. Samples submitted to Eastern Analytical are analyzed with the strictest quality control with blanks (analytical & method), duplicates, and standard reference materials (viz. CANMET, CDN, OREAS, GEOSTAT) being inserted into the sequence of client samples. Gold is analyzed by standard fire assay methods and thirty-four other elements (including silver) are analyzed by ICP-OES (Inductively Coupled Plasma-Optical Emission Spectroscopy. In addition to the regular insertion of blank, duplicate, and standard samples by the Assay Laboratory, Puddle Pond routinely includes its own blanks and standards.

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