Puma Exploration Inc.
TSX VENTURE : PUM

Puma Exploration Inc.

December 08, 2011 09:11 ET

Puma Exploration Inc.: Dante Lens, a New Discovery on a Second E-W Main Fault Zone at Nicholas-Denys, New Brunswick

RIMOUSKI, QUÉBEC--(Marketwire - Dec. 8, 2011) - Puma Exploration (TSX VENTURE:PUM) announces the discovery of a major mineralized lens at Nicholas-Denys with up to 1,020 g/t Ag and 0.27% Bi (Bismuth). The Dante lens is located along a second E-W Main Fault Zone, 500 meters north of the Rocky-Brook-Millstream Fault which is associated with the Henry, Henry East, Haché, Shaft and PineTree lenses.

At the Dante lens, the mineralization appears as disseminated to massive sulphide lenses varying in thickness from 0.5 meter to 25 meters, generally oriented N070° within the regional foliation, as well as, silver-rich NW-SE structures composed of numerous parallel veins of rusty sulphides varying in thickness from 10 cm to 1 m each. An area of 0.9 hectares (150m X 60m) has been cleared and the Dante lens has been stripped for 0.015 hectare (50m X 30m) so far.

A total of 66 grab samples from the stripped area have been collected and select analytical results are summarized in Table 1. Also, 17 channels for a total length of 550 meters have been sampled over the Main Dante Lens, results are pending.

Table 1. Grab samples from the Main Dante Lens

Sample Au Ag Bi Cu Pb Zn
# g/t g/t ppm % % %
351257 0.02 333 719 0.16 2.8 2.4
351262 0.00 288 490 0.17 11.7 6.2
351265 0.02 169 289 0.10 6.5 1.7
351269 0.05 931 2070 0.10 4.1 0.2
351270 0.04 611 1450 0.11 3.4 3.0
351274 0.03 219 454 0.21 2.1 1.8
351277 0.01 199 407 0.15 2.4 3.0
351278 0.03 154 270 0.05 2.1 0.1
351280 0.19 211 303 0.35 3.7 0.3
351285 0.03 235 565 0.08 1.6 3.0
351301 0.10 966 2470 0.25 3.1 5.5
351302 0.03 1,020 2730 0.26 3.2 5.7
351304 0.03 294 639 0.10 1.9 0.8
351306 0.01 185 434 0.13 1.7 0.2
351309 0.02 346 759 0.18 3.0 2.9
351311 0.01 126 45 0.30 8.3 7.1
351312 0.50 170 203 0.24 7.4 6.7
351316 0.01 132 207 0.12 7.0 0.1

The continuity of the mineralization at the Dante Lens has been proven over a strike length of 200 meters west of the main stripping area by three (3) additional trenches spaced 25 to75 meters apart. In each trench, representative grab samples have been collected from the sulphide zones and select analytical results are summarized in Table 2.

Table 2. Grab samples from the Dante Lens Extension

Trench Sample Au Ag Bi Cu Pb Zn
# # ppm ppm ppm % % %
T11-50 349408 0.05 144 5 0.07 3.3 2.0
T11-50 349411 0.05 334 75 0.17 3.5 3.0
T11-50 349412 0.02 160 137 0.08 1.4 0.9
T11-51 349427 0.20 131 161 0.11 2.9 0.2
T11-51 349429 0.03 163 8 0.18 8.1 0.2
T11-51 349430 0.16 109 16 0.38 6.6 2.2
T11-51 349431 0.03 96 36 0.69 3.4 1.0
T11-51 349432 0.15 80 66 0.14 4.0 1.1
T11-54 349491 3.98 926 6 0.08 14.8 3.4
T11-54 349492 7.31 1,980 3 0.04 >20.0 0.2
T11-54 349493 7.07 777 5 0.08 11.5 4.7
T11-54 349494 9.93 644 5 0.10 10.0 6.8
T11-54 349495 8.40 620 9 0.11 10.6 8.4
T11-54 349496 9.58 407 6 0.09 6.2 6.1
T11-54 349498 8.21 428 3 0.10 6.9 8.0

The mineralization discovered in the lenses located along the second E-W Main Fault Zone show Silver-Lead-Zinc grades similar to the Rocky-Brook-Millstream Fault Zone lenses; Bismuth and Copper content are significantly higher. This Bismuth enrichment has also been noted in Puma's previous exploration work done along the Main Fault Zone as shown in Table 3.

Table 3. Select Bismuth results from Puma's previous work

Deposit Hole From To Length Bi
# m m m ppm
Beresford Copper F07-01 38.00 47.40 9.40 810
Millstream Iron F07-04 38.75 53.55 14.80 316
Millstream Iron F07-06 34.00 50.25 16.25 953

Note: as at December 4th 2011, in The Northern Miner, Bismuth trade price was US12.50$/lbs

The Main Fault Zone, which is associated with the Beresford Copper and Millstream Iron Deposits, constitutes an additional favourable corridor of 10 km. To analyse the similarity of the mineralization along strike on the Main Fault Zone and to validate the Silver discovery model used at Nicholas-Denys, five reconnaissance holes have been drilled. These holes are located 6.3km away from the Dante lens along the same Main Fault Zone, results are pending.

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The contents of this press release were prepared by Dominique Gagné, 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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