Puma Exploration Inc.

Puma Exploration Inc.

March 27, 2008 10:30 ET

Puma Exploration: 17,000 Metres of Drilling Under Way at Nicholas-Denys

RIMOUSKI, QUEBEC--(Marketwire - March 27, 2008) - Puma Exploration (TSX VENTURE:PUM) is currently engaged in a 17,000 metre drill campaign on its Nicholas-Denys mining property in New Brunswick. Since the beginning of 2008, four drill rigs have been in action on the area containing the Hache and Shaft lenses; 28 holes have been drilled since the resumption of work, for a total of 7,500 metres.

Objective of the Work

An indicated resource of 364,000 tonnes with more than one million ounces of silver has been calculated in the centre of the Hache lens, as well as an inferred resource of 442,000 tonnes with 780,000 additional ounces of silver (Release of 27 February 2008). The purpose of the current drilling is to transform the inferred resources into indicated resources, for a total of 800,000 tonnes of indicated ore, and to confirm an inferred resource of 3,000,000 tonnes in the Hache area.

Current Program

Two of the four drills are employed in the definition of additional resources in direct extensions of the Hache lens over an additional length of 200 metres, which represents about three times the current surface area. The two other drills are employed in exploring between the Shaft and Hache lenses to a vertical depth of 450 metres, to determine whether the lenses represent a single mineralized zone, which would then have a length of about 650 metres.

After this the drilling operations will be directed towards the surface definition of three other mineralized lenses located along a structure that has been followed for more than 5.4 kilometres. From east to west the deposits are the PineTree, Half Mile, and Henry. Drillling on each of these deposits intersected mineralization rich in silver-lead-zinc, and locally containing significant amounts of gold.

About Puma

The Company has an exploration budget of about $3.5 million for the year 2008. The funds were obtained from the recent $4.5-million financing, and will mainly be applied to the Nicholas-Denys (New Brunswick) and Little Stull Lake (Manitoba) projects.

The contents of this press release were prepared by Geologist Marcel Robillard, a Qualified Person as defined in NI 43-101.

The TSX Venture Stock Exchange disclaims any responsibility for the veracity and accuracy of this release.

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