Puget Ventures Inc.
TSX VENTURE : PVS

Puget Ventures Inc.

November 02, 2011 09:12 ET

Puget Ventures Inc./Global Cobalt Corporaton Announces Appointment of Mr. Jean-Pierre Colin as Corporate Strategy Advisor

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2011) - PUGET VENTURES INC. ("Puget") (TSX VENTURE:PVS) (the "Company") is pleased to announce the appointment of Mr. Jean-Pierre Colin as Corporate Strategy Advisor to the Board of Directors effective immediately.

As a creative corporate strategy consultant servicing CEOs and Boards for high profile international mining companies, Mr. Colin's appointment will assist the Company's senior leadership team in delivering the corporate strategy of building into a leader of the strategic metals sector.

Mr. Colin has had a long and distinguished career as an investment banker being responsible for corporate finance as well as M&A transactions, and as such, was instrumental in financing and advising for some of Canada's most successful mining exploration and production companies.

Mr. Colin is a director for Premier Gold Mines Limited where he also serves on the corporate governance, audit, compensation and independent special committees. He is also the special advisor to the Executive Chairman and the Board of BlackRock Metals Inc. and is a former director of numerous other successful public mining companies in Canada.

He is a member of the Bar of the Province of Quebec, holds a Masters of Business Administration from the University of Western Ontario, a Civil Law degree from the University of Ottawa, and a Certificate in Comparative Law from the University of Manitoba.

"We are delighted to welcome Jean-Pierre to the Company," commented Erin Chutter, President and CEO of Puget Ventures Inc./Global Cobalt Corp. "He brings a wealth of experience and market relationships that will be invaluable to the Company. His appointment strengthens our team and will complement management in its efforts to advance and develop a new mining district in Altai, Russia as well as evaluate other acquisition and production opportunities."

About Puget Ventures Inc. / Global Cobalt Corporation

Upon completion of the Pafra Acquisition, Puget Ventures Inc. will be renamed Global Cobalt Corporation, and will be a Canada-based strategic metals company focused on the development of a new mining region in the Republic of Altai. As first mover into this new jurisdiction, Global Cobalt is positioning itself as a pioneer in an untapped region as the first and only foreign-invested publicly traded mining company to advance mineral projects in Altai. Global Cobalt will leverage the world-class Karakul Project and intends to explore other economically feasible projects held under right-of-first-refusal while aggressively expanding and exploring existing properties to supply the growing demand for cobalt and other strategic metals.

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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