Puma Exploration Inc.
TSX VENTURE : PUM

Puma Exploration Inc.

January 29, 2008 10:00 ET

Puma Exploration: 540 g/t Ag, 1.0 g/t Au, 3.3% Zn, and 2.7% Pb Over 5.1 Metres at Nicholas-Denys

RIMOUSKI, QUEBEC--(Marketwire - Jan. 29, 2008) - Puma Exploration (TSX VENTURE:PUM) has again confirmed rich precious metals values in the Hache deposit by intersecting a mineralized lens containing 540 g/t Ag, 1.0 g/t Au, 3.3% Zn, and 2.7% Pb over 5.3 metres in hole F07-32. This lens is part of a mineralized zone with an apparent thickness of 30.6 metres, grading 149 g/t Ag, 0.59 g/t Au, and 1.6% Zn.

Hole F07-32 is part of the recent definition drilling program on the Hache lens, comprising 12 boreholes totalling 900 metres. The other holes also intersected high precious-metal values in the core of the lens, with 503 g/t Ag and 2.1 g/t Au over 4.6 metres, 375 g/t Ag and 1.9 g/t Au over 5.1 metres, and 265 g/t Au and 1.0 g/t Au over 10.1 metres.

Drill intersections of mineralized zones



Borehole From To Length Ag Pb Zn Au
m g/t % % g/t
-----------------------------------------------------------------
F07-23 107.0 116.0 9.0 118 0.8 1.0 0.78
including 110.0 116.0 6.0 144 1.1 1.3 1.01
F07-25 40.0 68.0 28.0 106 0.9 1.0 0.37
including 55.2 66.5 11.3 218 2.0 1.8 0.67
including 60 66.5 6.5 321 3.2 2.4 0.94
including 62.7 65.8 3.1 494 5.5 2.8 1.14
F07-26 43.6 50.2 6.6 112 0.6 0.6 0.41
including 44.4 48.5 4.1 162 0.8 0.8 0.47
including 47.4 48.5 1.1 342 1.5 1.2 0.74
F07-27 41.7 82.0 40.3 91 0.8 1.5 0.37
including 55.2 72.5 17.3 163 1.2 1.8 0.74
including 57.8 67.9 10.1 265 1.8 2.3 1.02
including 57.8 61.5 3.7 448 2.5 2.9 2.00
including 64.1 67.9 3.8 270 2.3 3.4 0.72
F07-27 79.4 82.0 2.6 270 4.2 4.9 0.40
F07-28 40.3 46.6 6.3 14 0.1 2.3 0.48
including 42.6 45.0 2.4 15 0.1 3.9 0.73
F07-29 8.0 24.5 16.5 87 0.5 0.9 0.44
including 16.5 24.5 8.0 128 0.7 1.1 0.59
including 22.0 25.4 3.4 268 1.4 1.7 0.86
F07-30 4.0 22.0 18.0 89 0.4 1.8 0.71
including 4 11 7.0 171 0.7 1.3 0.82
including 6.7 11 4.3 269 1.0 2.0 1.16
including 6.7 10.2 3.5 329 1.2 2.4 1.39
F07-30 17.6 21.7 4.1 89 0.6 5.2 1.61
including 18.3 21.7 3.4 84 0.5 5.6 1.89
F07-31 9.7 47.2 37.5 94 0.5 1.0 0.55
including 21.85 33.7 11.9 247 1.2 1.5 1.18
including 26.1 33.7 7.6 336 1.5 2.1 1.49
including 26.1 30.7 4.6 503 2.2 3.0 2.09
F07-32 4 34.6 30.6 149 0.7 1.6 0.59
including 4 14.8 10.8 147 0.6 2.4 0.98
including 4 11 7.0 207 0.7 3.2 1.30
F07-32 26.4 34.6 8.2 354 1.8 2.6 0.69
including 27.2 32.5 5.3 540 2.7 3.3 1.04
including 27.2 30.2 3.0 939 4.5 4.9 1.83
F07-33 6.8 57.0 50.2 82 0.5 1.6 0.54
including 6.8 11.9 5.1 375 1.4 3.3 1.90
F07-33 18.7 27.7 9.0 169 1.3 3.0 0.95
including 18.7 26 7.3 203 1.6 3.3 1.02
F07-33 49 55.7 6.7 32.8 0.6 2.4 0.19
F07-34 13.0 16.6 3.6 19 1.5 1.6 0.11
F07-35 34.3 38.4 4.2 118 1.0 1.3 1.21
-----------------------------------------------------------------


Recent drilling on the Hache lens was designed to define the quantity and quality of ore in the mineralized zones, with the objective of bringing a small open-pit operation into production. The results obtained have been included in the resource calculation now in progress, in accordance with Standard 43-101.

Note that Puma is expanding the scope of its exploration work on its Nicholas-Denys property in New Brunswick with the mobilization of three (3) drills at the beginning of 2008. The Company's exploration budget for 2008 is about $3.5 million. These funds were obtained from the recent $4.5-million financing and will mainly be employed on the Nicholas-Denys (New Brunswick) and Little Stull Lake (Manitoba) properties.

The samples were analyzed in the ALS Chemex laboratory at Val d'Or, using the atomic absorption and ICP methods. 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.

Contact Information