Puma Exploration Inc.
TSX VENTURE : PUM

Puma Exploration Inc.

January 18, 2012 09:11 ET

Puma Drills 24.6 Meters of 100 g/t Silver, 1.4% Lead and 1.3% Zinc at Dante Lens, New Brunswick

RIMOUSKI, QUEBEC--(Marketwire - Jan. 18, 2012) - Puma Exploration (TSX VENTURE:PUM) is pleased to announce the results of the first seven (7) holes drilled at Dante Lens at the Nicholas-Denys Property, New Brunswick. Hole FD11-05, located in the central part of the stripped area, drilled 24.6 meters of mineralization grading 100 g/t Ag, 1.4% Pb and 1.3% Zn, including an higher grade zone of 8.0 meters with 181 g/t Ag, 436 ppm Bi, 1.3% Pb and 1.9% Zn.

Disseminated to massive sulphide mineralization has been encountered in every hole with thickness varying from 90 centimeters to 74.5 meters with an average width of 3 to 8 meters for the higher grade zones. Significant Bismuth and base metals content are also associated with the silver mineralization. Table 1 and Map 1 show the details of the drilling at Dante Lens.

Table 1. Drillhole Results at Dante Lens

Holes Direction Dip From To Length Ag Bi Pb Zn
# m m m g/t ppm % %
FD11-01 N180 ° 45 ° 30.30 32.00 1.70 91 213 1.6 1.2
FD11-02 N170 ° 45 ° 20.00 27.50 7.50 73 153 1.3 1.0
including 20.00 24.10 4.10 130 327 2.1 1.7
including 20.00 22.60 2.60 182 419 1.6 1.4
FD11-03 N170 ° 45 ° 3.30 12.50 9.20 52 99 1.1 1.0
including 8.15 10.20 2.05 112 251 1.5 1.5
including 8.90 9.90 1.00 165 387 1.8 2.3
including 15.00 15.45 0.45 188 192 10.4 4.1
FD11-04 N170 ° 70 ° 3.20 10.00 6.80 55 115 0.7 0.4
including 7.40 10.00 2.60 80 172 0.7 0.6
FD11-05 N080 ° 45 ° 19.50 94.00 74.50 44 93 0.7 0.7
including 55.80 94.00 38.20 70 152 0.9 0.9
including 65.50 90.10 24.60 100 221 1.4 1.3
including 71.20 79.20 8.00 181 436 1.3 1.9
FD11-06 N020 ° 45 ° 21.80 82.50 60.70 52 117 0.7 0.6
including 37.10 67.00 29.90 82 196 0.8 0.5
including 37.10 47.60 10.50 108 249 0.5 0.7
including 62.20 73.30 11.10 94 194 2.3 1.6
including 62.20 67.00 4.80 152 340 2.7 1.6
including 72.00 73.30 1.30 181 332 6.8 5.5
FD11-07 N020 ° 45 ° 34.90 35.80 0.90 51 26 2.5 1.7

The Dante lens is open in all directions and particularly toward the south-east where holes FD11-05 and FD11-06 cut high grade zone of 181 g/t Ag over 8.0m and 152 g/t Ag over 4.8m respectively. More drilling will be required to verify the extent of the mineralization at Dante Lens and for the discovery of new lenses over the entire strike length (10 km) of the northern major structure (The Main Fault Zone) which controls the mineralization at Dante Lens but also at the Millstream Iron, Lavigne Brook, Beresford Copper and Stephen Brook deposits.

With the objective of defining continuity along the Main Fault Zone and to confirm the presence of the main features of the discovery model at Nicholas-Denys, five (5) reconnaissance holes were drilled in the Lavigne Brook area, located 6.3 kilometers east of the Dante Lens.

Table 2. Puma's Drillhole results at Lavigne Brook

Hole Direction Dip From To Length Ag Bi Cu Pb Zn
# (m) (m) (m) g/t ppm % % %
LB-11-01 N008° 45° 7.30 8.20 0.90 321 500 0.57 0.38 8.04
LB-11-01 26.40 33.00 6.60 45 179 0.17 0.05 0.21
including 27.50 29.90 2.40 95 352 0.34 0.08 0.33
LB-11-02 N008° 45° 48.10 48.90 0.80 51 105 0.18 0.05 2.71
LB-11-02 68.00 68.30 0.30 64 155 0.06 0.15 1.97
LB-11-03 N008° 45° 18.00 19.40 1.40 48 116 0.12 0.06 0.53
including 19.20 19.40 0.20 221 613 0.57 0.11 0.06
LB-11-04 N008° 45° 31.6 33.9 2.30 109 275 0.25 0.12 0.61
including 32.1 33.1 1.00 138 404 0.33 0.14 0.50

At Lavigne Brook, holes drilled in 1971 by Mija Mines Limited, intersected very high grade silver mineralization up to 509 g/t Ag over 3.8 meters and 318 g/t Ag over 6.0 meters but no collar or core is available for interpretation. Puma's holes cut similar silver and bismuth content but also confirm the presence of transverse faults and pervasive alteration. More work will be needed to identify the main features of the discovery model over the entire 52.8km2 land package at Nicholas-Denys.

"A bigger picture is now emerging for the Nicholas-Denys Silver Project. What were originally thought to be smaller individual deposits, now appear to be connected links within two very large mineralized corridors approximately 10 kilometers in length. These continuous corridors not only offer the potential for expanded resources but also important economies of scale when they are exploited. The more we drill, the better we understand our geological model at Nicholas-Denys. We anticipate an exciting year of progress in 2012." Notes Marcel Robillard, President of Puma Exploration.

Learn more by clicking here: www.pumaexploration.com

And visit our media page at: www.pumaexploration.blogspot.com

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.

A map is available at the following address: http://file.marketwire.com/release/pum0117.jpg

Contact Information