Puma Exploration Inc.

Puma Exploration Inc.

January 17, 2008 11:10 ET

Puma Exploration Inc.: Three Drills on Nicholas-Denys, New Brunswick

RIMOUSKI, QUEBEC--(Marketwire - Jan. 17, 2008) - Puma Exploration (TSX VENTURE:PUM) is expanding the scope of the exploration work on its Nicholas-Denys property in New Brunswick with the mobilization of three (3) drills at the beginning of 2008.

In December 2007 a first drill was mobilized on the Hache lens to confirm the continuity of the mineralization and to improve the current resource calculations. Fourteen boreholes have been drilled on this mineralized lens, for a total drill advance of 900 metres. The Company is awaiting the results of its sampling. A second drill was mobilized on January 7, 2008 and the third will be on the property today.

The first two objectives of the drilling work are to increase surface resources at the Hache lens, and to check its extensions to a depth of 500 metres. A second stage of drilling will be aimed at the surface definition of the four (4) other mineralized lenses on the property.

The Company's exploration budget for 2008 is about $3.5 millions. These funds were obtained from the recent $4.5 millions financing and will mainly be employed on the Nicholas-Denys (New Brunswick) and Little Stull Lake (Manitoba) properties.

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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