Puma Exploration Inc.

Puma Exploration Inc.

December 08, 2010 11:17 ET

Puma Exploration Inc.: New Targets to be Drilled at Turgeon Copper Project

RIMOUSKI, QUEBEC--(Marketwire - Dec. 8, 2010) - Puma Exploration (TSX VENTURE:PUM) is pleased to provide an update on the current exploration program undertaken on the company's Turgeon Copper property. Following the drilling of hole F10-01, Puma conducted surface and borehole geophysical surveys to better characterize the geophysical signature of the copper and zinc lenses and to define first priority targets to be drilled in December, 2010.

Borehole InfiniTEM® survey

Three holes were surveyed during the geophysical InfiniTEM® survey for a total of 1,261 meters. The first priority targets selected consist of Off-hole anomalies located near mineralized intercepts. For example, the survey conducted in hole F00-01 indicates that at a depth of 190 meters the drill hole intercepted only the edge of a good conductor located 10-20 meters away and extending down-dip. The assay result at that depth was of 3% Cu over 9.5 meters within a zone of 2.3% Cu over 19.3 meters.

Significant mineralization in the holes surveyed

Hole From (m) To (m) Length (m) Cu (%) Zn (%) Anomaly
F00-01 126.0 127.5 1.5 6.6 0.05 Off-hole
  162.7 166.0 3.3 1.3 0.02 Edge
  175.0 212.5 37.5 1.4 0.70  
Incl. 181.7 201.0 19.3 2.3 0.40  
Incl. 191.5 201.0 9.5 3.0 0.70 Edge
F09-01 37.3 109.0 71.7 1.3 0.05  
Incl. 46.3 76.3 30.0 1.9 0.04 In-hole
and 85.0 103.0 18.0 1.8 0.08  
Incl. 92.3 103.0 10.7 2.4 0.08 In-hole
F10-01 29.0 97.0 68.0 1.0 0.14  
Incl. 38.0 64.0 26.0 2.4 0.07  
  161.8 182.0 20.3 1.0 2.43 In-hole
Incl. 161.8 163.9 2.2 1.2 8.72  
and 168.6 174.0 5.4 2.3 4.92 Off-hole
  223.6 247.2 23.6 0.2 0.05 Off-hole
  486.9 488.7 1.8 0.0 0.61 In-hole

Surface InfiniTEM® survey

Other drill targets were defined by the surface geophysical survey (6.7 km-line) and are located within 100 meters from surface. From the seven surface anomalies defined, the first one to be drilled is in strike with known copper mineralization along a favourable fault contact that is extending for more than 600 meters. This geophysical anomaly, extending for more than 100 meters, has never been tested and is open down dip. 

The drilling program to resume

In the ligth of the survey conducted, Puma will resume the drilling program on the Turgeon Copper Project shortly. The field crew is on site to prepare the drilling sites and the drill rig will be mobilized immediately after. The objective is to test the priority targets and complete a first phase of 1,000 meters of drilling. In the same time, more line cutting is underway at Turgeon to extent the area covered by geophysical surveys.

"We are very excited to resume drilling at Turgeon especially were previous hole have hit meaningful results on the edges of anomalies and that you are eagerly anticipating drilling into the source of the anomaly." State Marcel Robillard, President of the Company.

On going program on Nicholas-Denys Silver Property

The primary goals for the current exploration program on the Nicholas-Denys Silver property are to further delineate mineralized zones discovered in the previous drilling programs at the Haché and Shaft lenses and to conduct an extensive geophysical survey to define -priority targets to be drilled along the 2.3 km strike length of the favourable structure between the Haché and Henry lenses. The 20 km-line InfiniTEM® field survey is completed and the final interpretation should be available shortly.

Following the final interpretation of the geophysical survey more field work including prospecting, trenching and drilling will be undertaken at the beginning of 2011 to test the priority targets identified by the current work.

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 Turgeon Copper Project and Nicholas-Denys Silver Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba.

Details of Puma projects are available at www.explorationpuma.com

The contents of this press release were prepared by Marcel Robillard. a Qualified Person as defined in NI 43-101. 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."

This press release may contain certain forward-looking statements that include elements of risk and uncertainty. Consequently, actual results may differ substantially from those anticipated in such 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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