Puget Ventures Inc.
TSX VENTURE : PVS

Puget Ventures Inc.

January 19, 2012 09:00 ET

Puget Ventures Founder Erin Chutter Named to 40 Under 40 List

Annual list celebrates achievements, leadership skills of under-40 businesspeople

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 19, 2012) - Erin Chutter, founder, President and CEO of mining and exploration firm Puget Ventures Inc. (TSX VENTURE:PVS), has been named one of Business in Vancouver's 40 under 40 for 2011, joining 39 other accomplished and up-and-coming Vancouver businesspeople.

She will be honoured at a ceremony on January 25 for her business achievements, leadership, and community contributions.

"It's very inspiring to be in the company of so many talented businesspeople," said Chutter of being selected for the 40 Under 40 list. "It is special to be chosen among one's peers."

"On behalf of the board of directors of Puget Ventures, I'd like to offer my congratulations to Erin for this accomplishment," said Ray Castelli, a company director. "We look forward to her continued leadership of the company."

Chutter, 37, founded Puget Ventures in 2007, a public company listed on the TSX-V. In its initial days, the company focused its efforts on exploring cobalt deposits in Werner Lake, southwestern Ontario. Since then, under her leadership, the company has established itself through further delineation of its Canadian assets and the proposed acquisition of mineral assets in Altai, Russia.

An entrepreneur at heart and one of only a handful of female mining executives in the country, Chutter has also run her own communications company. She has worked with a number of Vancouver-based exploration companies as well.

She forged her leadership skills through politics, which she has been involved in since the late 1980s. She has managed and advised political campaigns at three levels of government along with party leadership races. In addition, she has served on the staff of federal and provincial ministers and leaders.

She is active in a number of groups in her community and is a director of both the Canadian Taxpayers Federation and the MacDonald Laurier Institute. Chutter is also a founder and director of Sceptre Ventures Inc. and Quantum Rare Earth Development Inc., both listed on the TSX-V.

Cautionary Statement on Forward-Looking Information: Certain information contained in this news release, including any information relating to Puget or Global Cobalt's future financial or operating performance may be deemed "forward looking". All statements in this news release, other than statements of historical fact, that address events or developments that Puget expects to occur, are "forward-looking statements." Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to important risk factors and uncertainties, many of which are beyond Puget's ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key assumptions upon which Puget's forward-looking statements are based include the following: Puget's ability to complete the Pafra Acquisition; its ability to successfully integrate, explore, develop and operate the Karakul Property; that cobalt prices will not fall significantly; that Global Cobalt will be able to secure new financing to continue its operations on an as-needed basis; that there are no significant changes to applicable laws in the geographic areas in which Global Cobalt will operate; that Global Cobalt will obtain regulatory approvals in a timely manner; the absence of material adverse effects; Global Cobalt's ability to achieve its growth strategy; and that Global Cobalt's operating costs will not increase significantly. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, and unusual or unexpected formations. Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. All of the forward-looking statements contained in this news release are qualified by these cautionary statements. Puget expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except in accordance with applicable 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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