Consolidated Puma Minerals Corp.

Consolidated Puma Minerals Corp.

March 07, 2005 09:15 ET

Consolidated Puma Minerals Corp.: Latest High Grade Results from East Chuarvi Drilling


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CONSOLIDATED PUMA MINERALS CORP.

TSX VENTURE SYMBOL: CPW

MARCH 7, 2005 - 09:15 ET

Consolidated Puma Minerals Corp.: Latest High Grade
Results from East Chuarvi Drilling

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 7, 2005) -
Consolidated Puma Minerals Corp. (TSX VENTURE:CPW), a 55% owned
affiliate of Bema Gold Corporation (TSX:BGO)(AMEX:BGO)(AIM:BAU) is
pleased to announce diamond drilling results from the ongoing
exploration program on the East Pansky Platinum Group Elements ("PGE")
property. East Pansky is located in the Kola Peninsula of northwestern
Russia on the eastern border of the Federova Tundra project where
Barrick Gold Corporation is currently evaluating an advanced PGE
exploration program.

The East Chuarvi target continues to deliver high grade results from the
northern reef, an example of which is hole P-438 with 26.49 g/t PGE+Au
over 1.6 metres and directly below this 13.51 g/t PGE+Au over 6.8
metres. The PGE grades from this low sulphide mineralization are very
similar to the Stillwater Mine in Montana, USA.

This phase of the intensive grid drilling campaign at East Chaurvi has
been completed with a total of 62 holes (11,921 metres) during 2004. The
mineralization is continuous and very high grade across at least 700 m
of strike length and up to 250 metres down dip so far and remains open
in all directions. Further high grade results are presented below:



--------------------------------------------------------------------
Hole Length From To Interval Au Pt Pd PGE+Au
# (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
--------------------------------------------------------------------
P-430 114.5 16.4 33.1 16.7 0.10 0.74 1.71 2.55
Incl. 16.4 21.0 4.6 0.05 0.41 1.03 1.49
Incl. 21.0 23.6 2.6 0.28 1.71 4.25 6.24
Incl. 23.6 27.9 4.3 0.03 0.17 0.40 0.60
Incl. 27.9 28.9 1.0 0.43 2.91 7.24 10.58
Incl. 28.9 33.1 4.2 0.04 0.56 0.91 1.51
--------------------------------------------------------------------
P-431 123.9 33.4 34.7 1.3 0.19 3.21 6.33 9.73
Incl. 33.4 33.9 0.5 0.48 8.13 16.10 24.71
--------------------------------------------------------------------
P-435 96.00 96.80 0.80 0.51 3.37 9.74 13.62
97.40 99.20 1.80 0.41 2.64 6.07 9.12
120.70 121.00 0.30 0.75 4.33 12.50 17.58
123.50 123.80 0.50 0.38 4.25 11.60 16.23
--------------------------------------------------------------------
P-438 249.2 112.1 113.7 1.6 0.72 8.88 16.89 26.49
119.0 125.8 6.8 0.43 4.51 8.57 13.51
134.2 135.8 1.6 0.80 2.77 6.25 9.82
--------------------------------------------------------------------
P-441 70 21.0 28.5 7.5 0.24 2.18 5.15 7.57
Incl. 21.0 25.5 4.5 0.13 1.37 2.53 4.03
Incl. 25.5 28.0 2.5 0.48 3.81 10.42 14.71
Incl. 28.0 28.5 0.5 0.11 1.25 2.32 3.68
--------------------------------------------------------------------
P-446 394.2 343.4 344.9 1.5 0.19 4.44 8.94 13.57
--------------------------------------------------------------------


Assays are pending from an additional 10 holes at the East Chuarvi
target. Drilling activity on East Chuarvi has paused while the data is
compiled and analyzed prior to recommencing later in the year at which
point Puma will be focused on expanding the known mineralized zone along
strike and at depth. A further 5,000 to 7,000 metres of diamond drilling
is planned in 2005.

Geological mapping and sampling of remainder of the new Kuksha license,
contiguous with East Pansky to the southeast, will continue during the
summer season at which time the results of ongoing geophysics and deep
till geochemistry should be ready. A small, approximately 600 metres
drill program is underway on the Kuksha property at the moment to better
define the potential of PGE-bearing horizons identified during 2004.

On behalf of CONSOLIDATED PUMA MINERALS CORP.

Roger Richer, President and Director

Consolidated Puma Minerals Corp. trades on the TSX Venture Exchange
under the symbol CPW.

The common shares and warrants described herein and any securities which
may be issued thereunder have not been and will not be registered under
the U.S. Securities Act of 1933 as amended and may not be offered or
sold in the U.S. or to a U.S. person in the absence of such registration
or an exemption therefrom. Some of the statements contained in this
release are forward-looking statements, such as estimates and statements
that describe the Company's future plans, objectives or goals, including
words to the effect that the Company or management expects a stated
condition or result to occur. Since forward-looking statements address
future events and conditions, by their very nature, they involve
inherent risks and uncertainties. Actual results in each case could
differ materially from those currently anticipated in such statements.

The QA/QC procedure involves 1 standard, 1 blank, 1 splitter duplicate
and 1 field duplicate every batch of 24 samples and to date all QA/QC
evaluations have performed within acceptable limits.

Drill core assays for this project have been performed by Assayers
Laboratory, Canada and Mekhanobr Laboratory in St Petersburg, Russia.
Tom Garagan is acting as the Qualified Person on the project.

Drill hole coordinates:



--------------------------------------------------------------------
LOCATION LOCATION LOCATION LENGTH
HOLE X Y Z (m) AZIMUTH DIP
P-430 630533.10 7480241.00 266.23 114.50 29.00 -59.80
P-431 630748.10 7480109.00 255.56 123.90 29.00 -58.90
P-435 630726.50 7480069.00 254.52 142.5 28.00 -61.00
P-438 630244.90 7480336.00 266.36 249.20 28.00 -60.00
P-441 630570.70 7480211.00 264.15 70.00 28.00 -60.00
P-446 630489.60 7479938.00 394.20 394.20 28.00 -60.00
--------------------------------------------------------------------


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Consolidated Puma Minerals Corp.
    Ian MacLean
    Manager, Investor Relations
    (604) 681-8371
    or
    Consolidated Puma Minerals Corp.
    Derek Iwanaka
    Investor Relations
    (604) 681-8371
    investor@pumaminerals.com
    www.pumaminerals.com
    The TSX Venture Exchange neither approves nor disapproves the
    information contained in this News Release.