Puma Exploration Inc.

Puma Exploration Inc.

August 23, 2011 09:58 ET

Puma Exploration: 1,330 g/t Ag, 17.4 g/t Au, 6.3% Pb and 2.3% Zn at Nicholas-Denys Puma's Silver Project, New Brunswick

RIMOUSKI, QUEBEC--(Marketwire - Aug. 23, 2011) - Puma Exploration (TSX VENTURE:PUM) is pleased to release the first results from its summer exploration program at Nicholas-Denys Silver project, New Brunswick. Grab samples taken from mineralized zones show high silver and gold content up to 1,330 g/t Ag and 17.4 g/t Au. This preliminary mapping and sampling program aimed directly at known showings was to identify the characteristics of the main features constituent to the discovery model developed on the silver-rich Haché and Shaft Lenses at the Nicholas-Denys property.

Five Ag-Pb-Zn showings located between the Haché and Henry lenses from the 16 located on the property have been revisited, mapped and sampled prior to launching Phase 1 of the trenching program. This new information added to the targets already defined by the geochemical and geophysical surveys (see press release 19/05/2011) have been used to define the size and the location of the trenches.

Table 1. Significant grab sample results from the reconnaissance program

Showing Sample Ag (g/t) Au (g/t) Pb (%) Zn (%)
Sormany Gate 351201 142 0.53 2.9 1.2
Sormany Gate 351202 562 1.82 12.2 7.6
Henry South 351210 78 2.49 1.0 1.6
Henry South 351212 243 4.22 3.9 2.9
Henry South 351213 127 1.20 0.8 0.8
Zarina 351222 210 0.03 0.7 1.3
Zarina 351223 1330 17.40 6.3 2.3
Zarina 351235 171 0.04 6.7 4.6
Deposit 1 351227 73 0.02 4.8 2.5
Deposit 1 351228 6 4.83 0.1 0.1
Deposit 1 351229 71 2.90 3.1 1.4
Cullinan 351231 143 0.87 7.4 3.2
Cullinan 351232 178 0.72 9.4 2.2
Cullinan 351233 216 0.86 6.0 0.1
Cullinan 351234 70 1.83 2.0 0.5

"Revisiting the previous showings with our new silver discovery model in mind allowed us to look differently at the property than the previous operators did, and pinpoint areas with high potential of discovery. The location of the high grade silver and gold rich structures intersecting the massive sulphide lenses is key at Nicholas-Denys." notes Dominique Gagné, Project Geologist for Puma Exploration.

Current work at Nicholas-Denys

A major trenching and stripping program is underway at Nicholas-Denys. The first target to be tested is a coincident geophysical (InfiniTEM and IP) and geochemical Ag-Pb-Zn soil anomaly over a strike length of 3.1 km. The other targets include a total of twelve geophysical anomalies that were identified from the InfiniTEM® 2010 ground survey (EM-01 to EM-12) covering 3.5 km of favourable structural features from the Shaft to Henry lenses. Most of these geophysical anomalies are associated with surface soil geochemical Ag-Pb-Zn anomalies. 2,000 meters of trenches have been dug so far and the program has been extended for an additional 3,000 meters. Samples have been sent to the laboratory to be analysed for precious and base metals and the results are pending.

About Nicholas-Denys

The Nicholas-Denys property is located only 20 kilometres north of Bathurst and is part of the Bathurst Mining Camp of northern New Brunswick. The property is accessible by road all year round and is intersected by a power line. The Nicholas-Denys property is 6,750 hectares and is part of Puma's 10,476 hectare holdings which include the Turgeon Copper Deposit.

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 Nicholas-Denys Silver Project and Turgeon Copper Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba.

Puma is also thrilled to announce the launch of its newly updated web site and blog page. It's all part of our plan of keeping the investors informed, while generating feedback from the investors community.

Learn more by clicking here: www.pumaexploration.com

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

You can also find us at: www.facebook.com/pumaexploration

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. 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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