Puma Exploration Inc.

Puma Exploration Inc.

September 29, 2010 16:33 ET

Puma Exploration Corporate Update

RIMOUSKI, QUEBEC--(Marketwire - Sept. 29, 2010) - Puma Exploration (TSX VENTURE:PUM) is pleased to announce the appointment of Mr. Marcel Robillard, P.Geo., as the Company's new President. Mr. Marcel Robillard has been with the Company since its inception in 2003 as senior geologist in charge of planning and managing exploration work as well as the acquisition of new mining properties. He is a member of the Board of Directors since August 2009 and, alongside Mr. André Proulx, has actively participated in the management and financing of the company.

Mr. André Proulx, Puma Exploration's founding president, will remain involved in the Company's development and growth as Chairman of the Board of Directors. "This way the company will be able to continue to benefit from Mr. Proulx's expertise and professionalism, which is key," adds Mr. Marcel Robillard. The other members of the Board of Directors are Ms. Anne Slivitzky, Mr. Clément Duchesne, and Mr. André de Guise.

In other news, the Company has announced the closing of a private placement with qualified investors, employees, executive officers, directors and consultants in the amount of $557,500. With this placement, Puma Exploration issued 4,910,000 common shares and 6,240,000 flow-through common shares at the price of $0.05 per share, and 11,150,000 warrants. Each warrant gives its holder the right to purchase one common share at the price of $0.10 per share until September 29, 2012.

No intermediation costs, commissions, or broker warrants were incurred as part of this placement. These securities will be subject to a holding period of four months. This placement has received the conditional approval of the TSX Venture Exchange.

The proceeds of the placement will be used to continue developing Puma Exploration's Canadian properties. Indeed, the Company will soon recommence exploration work on its Turgeon and Nicholas-Denys mining properties in New Brunswick.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.

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