Puma Exploration Inc.

Puma Exploration Inc.

February 09, 2011 08:01 ET

Puma Exploration: 10.1% Cu and 54 g/t Ag over 7.5 meters at Turgeon Copper Project

RIMOUSKI, QUEBEC--(Marketwire - Feb. 9, 2011) - Puma Exploration (TSX VENTURE:PUM) intersected high grade copper mineralization in hole FT10-02 grading 10.1% Cu and 54 g/t Ag over 7.5 meters at Turgeon Copper Project (3,726 ha.), New Brunswick. This intercept is followed, 30 meters deeper, by a 42 meters massive sulphide lens grading 0.8% Cu and 1.7% Zn and corresponding to the northern edge of an InfiniTEM anomaly detected in the 2010 fall survey. The results for the three other holes drilled to test the geophysical anomalies are pending. The massive sulphide lens show a metal zonation as the first part is more copper-rich and the deeper part contains more zinc-rich sulphides.

Significant copper and zinc mineralization in hole FT10-02

Hole Zone From To Long. Cu
FT10-02 Copper Vein 130.8 131.1 0.3 15.5 0.1 14
  High Grade Copper 135.2 142.7 7.5 10.1 0.1 54
  including 135.2 135.7 2.4 14.9 0.2 137
  Massive Sulphide (MS) 166.0 208.0 42.0 0.8 1.7 1
  Copper Zone in MS 166.0 190.3 24.3 1.1 0.7 1
  including 166.0 176.0 10.0 1.5 0.0 2
  and 166.0 169.4 3.4 3.3 0.0 2
  Zinc Zone in MS 192.0 204.0 12.0 0.5 4.5 1
  including 192.0 198.0 6.0 0.2 7.8 2
  and 192.0 193.8 1.8 0.3 14.5 1
  and 196.0 198.0 2.0 0.2 9.3 4

High grade copper Zone with silver enrichment

The high grade Copper Zone is mainly composed of 60-80% chalcopyrite and contains significant silver mineralization as showed in the first part of the zone grading 14.9% Cu and 137 g/t Ag over 2.4 meters. Previous holes have not been adequately sampled for precious metals and a more systematic sampling program will be conducted on the core available at the DNR coreshack at Madran, New Brunswick.

"We are very excited about the high grade copper zone intersected in the drilling and by the fact that this zone also contains a significant silver enrichment which has not been adequately tested in the previous drilling" stated Marcel Robillard, President of the Company.

This Copper-rich intercept confirms the presence of a high grade copper zone located close by the massive sulphide lens. Previous holes drilled in the vicinity of hole FT10-02 intercepted similar copper grades over significant thickness as showed in the following table.

Hole Az. Dip From To Long. Cu
E81-48 N255° 45° 169.5 172.5 3.1 8.4
E81-56 N255° 45° 65.0 70.7 5.7 7.6
E81-60 N255° 43° 202.4 205.5 3.1 6.9
E81-66 N255° 43° 136.4 139.1 2.7 6.7
F00-01 N222° 50° 126.0 127.5 1.5 6.6

More advanced 3D modelisation will be required to identify the relationship of the High grade copper zone with the massive sulphide lenses and to locate the extension and the potential size of this rich copper zone which is open at depth and along strike.

Massive sulphide Copper and Zinc zonation

The 42.0 meters massive sulphides intercept show a copper-zinc zonation which will provide also important information for further drilling and economical evaluation. The first part of the lens is more copper rich with 1.1% Cu over 24.3 meters including 3.3% Cu over 3.4 meters and the second part is more zinc rich with 4.5% Zn over 12.0 meters including 14.5% Zn over 1.8 meters. This massive sulphide lens corresponds to the northern edge of one of the five anomalies detected during the 2010 borehole geophysical survey. The centre of this anomaly has not been tested by the current drilling. Two previous holes intersected this anomaly at about 20 meters away from FT10- 02 are holes F00-01 and E81-60 with respectively 2.3% Cu over 19.3 meters and 3.5% Cu over 11.2 meters. The massive sulphide lens is open at depth and along strike. More drilling is required to define the extend of the mineralization.

Borehole and surface InfiniTEM® survey

Following the drilling of hole FT10-01, Puma conducted surface and borehole geophysical surveys to better characterize the geophysical signature of the copper and zinc lenses and to define first priority targets to be drilled in December, 2010. Five anomalies were detected during the survey and the hole FT10-02 has tested the edge of one of them. Three other holes have been drilled prior to the end of 2010 and in the beginning of 2011. Surface and borehole geophysical anomalies were tested during the program. The results for these three holes are pending.

About Puma Exploration

Puma Exploration is a Canadian mineral exploration company with advanced projects in precious and base metals in Canada. The Company's major projects are the Turgeon Copper Project and Nicholas-Denys Silver Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba.

Details of Puma projects are available at www.explorationpuma.com

The contents of this press release were prepared by Marcel Robillard, 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. The previous holes have been drilled prior to Puma in 1981 and 2000. 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."

This press release may contain certain forward-looking statements that include elements of risk and uncertainty. Consequently, actual results may differ substantially from those anticipated in such 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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