Puma Exploration Inc.

Puma Exploration Inc.

October 30, 2013 11:28 ET

Puma Discovers High Grade on the Rocky Brook Corridor with Samples Containing up to 3.03 Kg/t Silver and 7.42 g/t Gold

RIMOUSKI, QUÉBEC--(Marketwired - Oct. 30, 2013) - Puma Exploration (TSX VENTURE:PUM) is pleased to report surface sample results from the stripping and trenching program underway on its Nicholas-Denys ("ND") project near Bathurst, New Brunswick. The current surface exploration program is being conducted to extend the contiguous Haché and Shaft Zones which form part of the 10 km long Rocky Brook Corridor along the southern margin of the large Nicholas-Denys Porphyry system. Very high grade massive to semi-massive samples grading up-to 7.42 g/t Au, 3,030 g/t Ag, 0.27% Cu, 60.0% Pb and 14.4% Zn were collected at surface at the west end of the Haché zone and at the both ends of Shaft zone.

Highlights include:

- Very high grade massive to semi-massive samples grading up-to 7.42 g/t Au, 3,030 g/t Ag, 0.27% Cu, 60.0% Pb and 14.4% Zn were collected at surface;

- 100 meters westward extension at Haché, doubling the size of the zone at surface;

- 200 meters surface strike length extension of the Shaft zone at both ends establishing the presence of continuous silver-lead-zinc mineralization over 1km;

- Sample results along the Rocky Brook Corridor reveal strong correlation between copper, molybdenum and silver but also with speciality metals like Bismuth (Bi) and Tungsten (W) proving that at least one mineralized event correlates with the porphyry system.

A total of 20 grab samples were collected at surface at both extensions of the Haché and Shaft zones which is now established as a continuous 1 kilometer long mineralized zone. The main objective of the stripping program is to increase the surface expression of the zones and to point out the main structural and geological features of the Rocky Brook silver-gold-lead-zinc corridor in relation to the large ND porphyry system.

Table 1. Selected surface samples collected at the Haché and Shaft zones.

Zone Sample # Au (g/t) Ag (g/t) Pb (%) Zn (%)
Haché J344869 2.37 3030 60.0 1.1
Haché J344853 2.29 483 4.2 3.8
Haché J344856 3.25 398 5.0 1.7
Haché J344857 3.21 360 3.9 1.4
Haché J344852 0.64 315 9.1 4.1
Haché J344855 0.46 245 5.5 0.0
Haché J344854 2.54 19 0.1 7.9
Haché J344850 0.54 12 0.1 2.6
Haché J344851 0.33 7 0.1 1.1
Zone Sample # Au (g/t) Ag (g/t) Pb (%) Zn (%)
Shaft J344858 1.49 981 12.3 6.9
Shaft J344859 0.34 492 3.3 2.4
Shaft J344867 0.51 189 2.4 2.9
Shaft J344860 0.17 107 3.0 6.1
Shaft J344864 0.31 97 3.1 6.3
Shaft J344861 1.05 95 1.3 14.4
Shaft J344868 0.01 94 0.0 2.3
Shaft J344862 0.08 54 1.9 0.4
Shaft J344865 0.07 33 0.8 1.7
Shaft J344863 7.42 25 0.1 6.6
Shaft J344866 0.04 9 0.0 0.1
Sorted by Zone and then by Silver content

The RockyBrook-Millstream fault system, located 600 meters south of Nicholas-Denys granodiorite, controls the mineralization for the Rocky Brook Corridor over a strike length of 10km. This fault system is interpreted to be part of the main plumbing conduit by which metal-bearing fluids from the massive ND porphyry were injected into the host sedimentary rocks. Numerous steeply dipping mineralized zones from one to 20 meters wide have been identified and consist of semi-massive to massive sulphide pods, veins and stringers hosted in a broad disseminated sulphide zone. All mineralized zones carry significant gold and silver enrichment.

The highest grade zones occur at the intersections of the NW-SE transverse faults and the Rocky Brook-Millstream Faults. Some of these intersections have been drilled (25,000 meters in 91 holes) and previously reported as with silver-gold-lead-zinc mineralization occurring from surface to a vertical depth of 450 meters. Prior drilling and the results of the recent surface stripping and sampling program continue to define a large high grade precious and base metal zones at surface to almost half a kilometer deep and open in all directions.

Nicholas-Denys Exploration Strategy

Three parallel exploration programs are underway at our Nicholas-Denys property. These are:

1. ND Porphyry System

The exploration continues on the large sixteen square kilometer ND granodiorite porphyry in order to define a classic copper ± moly ± gold porphyry system such as the Pebble system in Alaska, Antamina in Peru or Climax in Denver. At ND, prior work defined large drill intersections in the 0.01% Cu anomalous range. The 2013 exploration program was designed to discover very large drill intercepts with an order-of-magnitude higher copper content: that while still in the sub-economic 0.1% Cu range confirmed the porphyry as a legitimate host target with also high grade copper samples with up-to 2.5% Cu.

This objective has been achieved as reported in the press release of October 22, 2013. This drill information together with an ongoing surface (31km line) and down hole IP surveys (4 holes) and the re-interpretation of magnetic data is being used to target the next phase of the program. The next drill program will be designed to encounter +500m intercepts at an additional order-of-magnitude increase. That is, to encounter grades at 1.0% Cu or higher. We expect to launch our next drill program before the end of 2013 as the field crew is on site to cut and prepare the drill sites and access for the first five priority drilling targets.

2. Rocky-Brook-Millstream Fault Corridor

The Rocky Brook Corridor, the subject of this press release, is a stunning mineralization phenomenon. It is 10 kms long and contains 16 high grade precious and base metal deposits that still remain to be drilled and defined. It is interpreted to be a cogenetic product of the Devonian-age intrusion of the ND granodiorite pluton into the host sedimentary and volcanic rocks that were deposited in during the Cambrian and Ordovician geological periods. Our current efforts concentrate on the contiguous Haché and Shaft zones that comprise 1km of the 10km corridor. The recent stripping program together has exposed the Haché zone 100 meters to the west and the Shaft zone 200 meters to the east. This information is sufficient to allow us to design an appropriate drill program to further outline this segment of the Rocky Brook Corridor.

3. Skarn Reconnaissance Program

Skarns deposits are formed when hot magmatic fluids from a porphyry intrusion react with nearby rocks that contain high calcium carbonate concentrations, such as limestones. The Devonian-age ND granodiorite was intruded into older Silurian-age rocks of the LaPlante Formation. The LaPlante Formation rocks, consisting of preserved oceanic reefs, are perfect hosts for skarn mineralization. These rocks do not outcrop in the vicinity of the ND porphyry but they are in direct contact with the porphyry at shallow depths. Recent geophysical surveys indicate multi-kilometer targets adjacent to the porphyry and along the regional strike of the LaPlante Formation. Puma is currently prospecting, mapping and trenching the geophysical targets prior to launch a new drill program.

About Puma Exploration

Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company's major assets are the Nicholas-Denys Project and Turgeon Copper Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba. Puma is focusing its exploration efforts in New Brunswick, Canada, which has been ranked fourth in the world to conduct mining exploration by the 2013 Fraser Institute Survey.

The contents of this press release were prepared by Dominique Gagné. a Qualified Person as defined in NI 43-101. The samples were analyzed at the ALS Chemex laboratory in Val d'Or using the atomic absorption and ICP methods. There is not enough drilling data presently available to determine the shape and true width of the mineralized zone. 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.

Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Puma Exploration Inc. to be materially different from actual future results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statements were made, except as required by law. Puma Exploration undertakes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.

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