Puma Exploration Inc.
TSX VENTURE : PUM

Puma Exploration Inc.

November 26, 2008 12:50 ET

Puma Exploration: 108 g/t Ag, 7.0% Zn, and 7.4% Pb Over 3.4 Metres on the Shaft Lens at the Nicholas-Denys

RIMOUSKI, QUEBEC--(Marketwire - Nov. 26, 2008) - Puma Exploration (TSX VENTURE:PUM) has just received and compiled the results from the last six deep holes drilled on the Shaft Lens at the Nicholas-Denys Project in New-Brunswick. The six holes intersected the mineralized lens over thicknesses ranging from three to 20 metres, including grades of 108 g/t Ag, 7.0% Zn, and 7.4% Pb over 3.4 metres. These holes once again confirm the continuation of the mineralization down to a vertical depth of at least 320 metres throughout the Shaft Lens.

A total of 47 holes have been drilled on the Shaft Lens since the work began in 2005. The drilling has followed the mineralization on surface over a length of about 150 metres, and down to a vertical depth of 350 metres. It should be noted that this lens was not included in the resource calculation issued in February 2008 (Press Release of 27/02/2008).

Mineralized intersections in holes on the Shaft Lens



---------------------------------------------------------------------------
Borehole Azimuth Angle Zone From To Length Ag Au Pb Zn
(m) (m) (m) g/t g/t % %
---------------------------------------------------------------------------
F08-25 N 160 60
degrees degrees A 78.5 84.0 5.5 18 2.28 0.6 0.9
B 199.0 219.0 20.0 51 0.15 1.4 1.2
incl. 199.5 205.3 5.8 95 0.37 2.5 2.0
C 215.4 219.0 3.6 78 0.16 2.8 2.6
D 324.1 324.7 0.6 223 0.21 6.9 3.1
---------------------------------------------------------------------------
F08-28 N 160 68 D 341.6 355.0 13.4 38 0.02 2.4 2.6
degrees incl. 341.6 345.0 3.4 108 0.04 7.4 7.0
incl. 351.7 352.1 0.4 72 0.04 4.4. 6.2
---------------------------------------------------------------------------
F08-34 N 160 55 A 45.0 46.1 1.1 64 1.60 2.3 2.0
degrees incl. 45.0 45.4 0.4 130 3.98 4.8 5.0
B 188.6 189.0 0.4 160 0.61 3.8 3.5
C 197.6 198.6 1.0 93 1.41 1.7 2.4
---------------------------------------------------------------------------
F08-41 N 160 55 A 195.7 207.2 11.5 92 0.13 2.4 1.7
degrees incl. 199.0 203.0 4.0 133 0.22 3.4 2.1
B 270.9 271.5 0.6 125 0.34 5.7 7.1
---------------------------------------------------------------------------
F08-49 N 160 55 A 201.0 206.0 5.0 113 0.18 3.2 2.5
degrees incl. 202.0 205.0 3.0 170 0.25 5.0 3.7
---------------------------------------------------------------------------
F08-56 N 160 68 A 177.0 187.2 10.2 182 0.91 0.7 0.9
degrees incl. 181.0 187.2 6.2 214 1.17 0.6 1.1
B 320.0 324.0 4.0 69 0.23 3.0 3.1
---------------------------------------------------------------------------


The continuity of the mineralization directly beneath the lens was confirmed down to a vertical depth of 350 metres, with an intersection of 119 g/t Ag, 6.0% Zn, and 3.3% Pb over 4.4 metres.

The Shaft Lens remains open at depth and towards the east, in the direction of the Pine Tree Lens. Note that hole F08-49, drilled at the east end of the Shaft Lens, intersected the mineralized zone at a depth of 200 metres, with 113 g/t Ag, 3.2% Zn, and 2.5% Pb over 5.0 metres. The holes drilled by Puma on the Pine Tree Lens in 2005 were able to trace the mineralization for about 100 metres: significant results included 90 g/t Ag, 3.8% Zn, and 3.8% Pb over 8.0 metres and 73 g/t Ag, 1.3 g/t Au, 3.3% Zn, and 2.7% Pb over 6.4 metres. The segment of about 2.1 km that separates the Shaft and Pine Tree lenses therefore represents another priority exploration target for new mineralized lenses.

Current Program

Since the beginning of 2008, 78 holes have been drilled in the vicinity of the Hache and Shaft lenses, for a total advance of 18,592 metres. An interpretation of the ground magnetic survey and a compilation of all the drilling carried out since 2005 are in progress, and are expected to provide guidance for the next drill campaign.

Regarding Puma

Exploration Puma is concentrating its exploration activities in New Brunswick on its Nicholas-Denys mineral property, located near Bathurst. The Company believes it is in a position to define enough ore to start a mining operation, with a target resource of three to five million tonnes.

The samples were analyzed at the ALS Chemex laboratory in Val d'Or using the atomic absorption and ICP methods. The contents of this press release were prepared by Geologist Marcel Robillard, a Qualified Person as defined in NI 43-101. The TSX Venture Stock Exchange disclaims any responsibility for the veracity and accuracy of this release.

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