Puget Ventures Inc.

Puget Ventures Inc.

November 19, 2009 15:33 ET

Puget Completes Norpax Drill Program; Extends Mineralisation of Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2009) - PUGET VENTURES INC. (TSX VENTURE:PVS) announced today that it has completed the drill program at the Norpax Deposit, located at the west end of the Werner Lake Mineral Belt. The 1500 metre drill program first announced on October 14, 2009, was designed to test for, and extend, mineralisation at the historic Norpax Property.

Three holes were initially planned into the deposit area and Puget completed four holes, with assays pending. Overall, the fall drill program successfully intersected the Norpax mineralisation expanding it at depth by 100 metres and potentially along strike for several hundred metres.

"We were very pleased by the execution of the program at Norpax as we continue our data compilation and targeting efforts for the adjacent Werner West Cobalt Deposit," said Erin Chutter, President.

Historical resource and reserve estimates of the Norpax Deposit have been reported at 1,010,000 tons of 1.2% Nickel and 0.5% Copper. (A qualified person has not done sufficient work to classify the historical estimate as current mineral resources, the issuer is not treating the historical estimate as current mineral resources, and the historical estimate should not be relied upon. The historical estimate is from Norpax Nickel Mines Ltd.)

There is no historic estimate available for the Platinum Group Element (PGE) component of the deposit.

Summary of Drilling

DDH NPX-09-001 was drilled east of the Norpax shaft and successfully intersected a wide mineralised mafic-ultramafic sequence that is known to host nickel and platinum group metals. This sequence is located at approximately 50 and 100 metres respectively below previous drill intersections and the old underground workings, indicating potential for increasing the resource at the Norpax deposit. This extension to mineralisation is some 200 metres vertical below surface.

DDH NPX-09-002 was drilled west of the shaft and also below the underground workings. The sequence intersected likely represents footwall tonalite & granitoid intrusive material. Based on surface geology & other drill data, it is considered that the mineralisation and host sequence is faulted off, deeper and farther north. The company feels that testing in this area would be more economical by drilling from the north.

DDH NPX-09-003 tested surface mineralisation (nickel primarily), some 500 metres east of the shaft. There has been little historic drilling in this area and the hole intersected a mineralised sequence very similar to that at Norpax some 100 metres vertically below surface. Results are pending.

DDH NPX-09-004 tested for an easterly extension to the Norpax deposit, some 300 metres east of the Norpax shaft. This drilling was also successful in intersecting the mineralised sequence at the same depth as the previous hole. Results are pending.

From 1954 to 1957 a 3-compartment shaft was sunk on the south shore of Tigar (now Almo) Lake to a depth of 402 feet (122.5m). Two levels were developed at the 250 foot (76m) and 375 foot (114m) horizons. Crosscuts were driven to the north to intercept the Cu-Ni horizon and drifting to the east and west was completed. The program consisted of underground sampling, mapping, and limited underground drilling and several "box holes" were completed to provide sample material. No stope development or mining of the deposit was undertaken. A zone of massive and disseminated sulphides was delineated on both levels for a distance of 1400 feet (426.6m).

In 2001-2002 Atikwa Minerals Limited completed preliminary geological and geochemical traversing, emphasizing the evaluation and sampling of the reported showings in order to determine the prospectivity for platinum-group minerals. A 5-hole diamond drill program to verify the historical deposit was carried out in late January and early February 2002 and were analysed for Au, Pt, Pd, Cu and Ni. Values from drilling included up to 6.27% Cu over 0.50m in hole NPX 005 from 118.10m to 118.60m, 2.7% Ni over 0.60m in hole NPX 005 from 116.30m to 116.90m, 1.15 gpt (grams per tonne) Au and 1.055 gpt Pt over 1.50m in hole NPX 005 from 103.50m to 105.00m, and 5.21 gpt Pd over 0.30m in hole NPX 005 from 108.00m to 108.30m. This information was extracted from the "Report for the Norpax Property, Northwestern Ontario, Kenora Mining District, March 2001 – March 2002"; by John Wakeford, Atikwa Minerals, March 18, 2002.

T. Hughes, P.Geol., P.Geo. is the QP for this news release.

About Puget Ventures Inc. (www.pugetventures.com)
Puget Ventures Inc. is a TSX Venture Exchange listed mineral exploration company that controls the Werner Lake Mineral Belt, including the advanced stage Werner West Copper Cobalt deposit, one of Canada's only primary cobalt properties, located in Northwestern Ontario. Puget is also currently exploring the Trout Bay copper-zinc property in Red Lake, Ontario.

Cautionary Statement on Forward-Looking Information: The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The shares offered will not be and have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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