Puma Exploration Inc.

Puma Exploration Inc.

November 30, 2011 09:21 ET

Puma Exploration Discovers Three Additional NW-SE High Grade Structures With Up to 2,090 g/t Ag and 23.3 g/t Au at Nicholas-Denys, New Brunswick

RIMOUSKI, QUEBEC--(Marketwire - Nov. 30, 2011) - Puma Exploration (TSX VENTURE:PUM) is pleased to release additional results from its major trenching program undertaken on the Nicholas-Denys Silver Project in New Brunswick. Highlights from current work are the discovery of three (3) additional major silver and gold-rich structures with grades up to 2,090 g/t Ag, 23.3 g/t Au, 47.9% Pb and 11.0% Zn in the Henry area.

These major structures appear as three distinct corridors of up to 100 meters wide, spread over 800 meters, and composed of numerous parallel veins of rusty sulphides and breccia zones varying in thickness from 10 to 50 cm each. They are oriented approximately NW-SE to WNW-ESE and show, so far, a minimum strike length of 750 meters each. These structures are interpreted to play an important role in the silver and gold enrichment of the main massive sulphide lenses located along the regional foliation as discovered at Henry East (see press release 10/11/2011), Haché, Shaft and Pinetree lenses. In each trench, representative samples have been collected from the mineralized zones and select analytical results are summarized in Table 1.

Table 1. Representative samples of the mineralized structures collected in the trenches

Structure Trench Sample Au (g/t) Ag (g/t) Pb (%) Zn (%)
1 T11-27 344932 10.5 40 0.2 0.6
1 T11-27 344933 14.6 175 1.4 0.1
1 T11-27 344934 23.3 222 1.3 0.4
1 T11-46 350639 0.2 993 26.1 0.1
1 T11-46 350640 0.4 1,270 29.4 0.1
1 T11-46 350641 0.7 2,090 47.9 0.0
2 T11-49 349273 2.1 237 10.0 7.4
2 T11-49 349274 3.5 154 5.5 5.3
3 T11-49 350536 4.1 395 2.1 2.1
3 T11-49 350537 3.5 420 1.3 1.3
3 T11-49 350538 1.3 70 2.0 2.0
3 T11-26 344900 10.6 75 1.6 0.1
3 T11-26 344901 2.2 204 5.8 0.2
3 T11-31 351894 1.8 1,250 >20.0 0.3
3 T11-31 351896 2.5 34 0.6 1.6
3 T11-31 351897 14.3 25 0.2 0.3
3 T11-31 351898 5.8 161 3.8 1.7
3 T11-31 351899 9.9 305 7.2 0.9
3 T11-31 351900 5.4 109 2.0 1.3
3 T11-31 344750 4.7 97 1.7 2.0
3 T11-31 344751 3.0 62 1.0 0.9

Once again, the trenching program was designed to test the intersection of NW-SE gold-silver rich structures with the general E-W sulphide horizons which constitute the discovery model at Nicholas-Denys. The new discoveries confirm the efficiency of the discovery model being utilized at Nicholas-Denys and will be utilized over the entire 10 km length of the property.

Further assay results are expected from the remaining trenches, which will provide additional data on the distribution of gold and silver mineralization at Nicholas-Denys. Clearly, the trench results indicate Nicholas-Denys contains a significant silver-gold mineralization system that is open to depth. The company will evaluate all trench results upon receipt, and plan additional exploration based on those results.

Puma Exploration also announces Arness Cordick as a new board member.

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.

Puma carried out its work by digging a series of trenches during the summer of 2011 for a total length of 5,000 metres between the Haché and Henry lenses. The area explored is only 1/6 of the total length of the favourable corridor, which extends over more than 10 km. The discovery of the structures rich in silver and gold represents a key step toward the discovery of new lenses displaying similar characteristics to the Shaft and Haché lenses. Puma's teams are busy with major stripping efforts on the mineralized zones discovered during the trenching program.

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.

Learn more by clicking here: www.pumaexploration.com

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

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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