Puget Ventures Inc.

Puget Ventures Inc.

May 01, 2008 18:49 ET

Puget Ventures Inc. Files Filing Statement on SEDAR for Qualifying Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 1, 2008) - Puget Ventures Inc. (the "Company") (TSX VENTURE:PVS.P) is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the "TSXV") for its qualifying transaction (the "Transaction") announced on December 19, 2007. The Company has SEDAR filed a CPC Filing Statement for the Transaction, as well as a NI 43-101 compliant technical report on the Trout Bay Property located in Red Lake, Ontario, the acquisition of which is the Company's Qualifying Transaction under TSXV Policy 2.4.

For further details of the Transaction, please refer to the Company's CPC Filing Statement dated May 1, 2008, available on SEDAR at www.sedar.com.

The Company is proceeding with the concurrent financing (the "Financing") announced in its news release dated January 24, 2008, and anticipates the Transaction will close in mid May, 2008, following the completion of the Financing.

In accordance with TSXV Policies, the Company's shares are currently halted from trading. Trading will resume upon completion of the Qualifying Transaction. It is expected that, at such time, the Company will be listed as a resource issuer.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release is not for distribution to U.S. newswire services or for dissemination in the United States.

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