Puma Exploration Inc.

Puma Exploration Inc.

October 23, 2012 17:00 ET

Puma Exploration: Allocation of Stock Options

RIMOUSKI, QUEBEC--(Marketwire - Oct. 23, 2012) - In accordance with its compensation policy and stock option plan, on October 23, 2012, the board of directors of Puma Exploration (TSX VENTURE:PUM) granted 2,225,000 stock options with an exercise price of $0.22, expiring on October 23, 2017, distributed as follows:

Directors 1,150,000 options
Employees and service providers 1,075,000 options

At the same date, Puma Exploration filed a modification to its stock option plan with the TSX Venture Exchange. This change will increase the maximum number of stock options that may be issued under this plan from 6,300,000 to 8,400,000.

Learn more by clicking here: www.pumaexploration.com

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.

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.

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