Puma Exploration Inc.
TSX VENTURE : PUM

Puma Exploration Inc.

January 19, 2011 12:35 ET

Puma Exploration to Generate New Targets at Turgeon

RIMOUSKI, QUEBEC--(Marketwire - Jan. 19, 2011) - Puma Exploration (TSX VENTURE:PUM) has hired Diagnos (ADK-TSXV) for the analysis of its data set relating to the Turgeon Copper project in New Brunswick. Diagnos will assist Puma to find new targets over its entire land holding by using its CARDS technology (Computer Aided Resource Detection Software) that identifies sites with the same signatures as the known deposits on the Turgeon Property.

Strategic holdings in Turgeon area

In anticipation of the CARDS targets to be generated, Puma has increased its strategic holdings in the Turgeon area by staking another 59 new claims contiguous to the main property. The new claim block, covering 1,276 hectares, which extends the main Turgeon block towards the southeast, has received little detailed exploration to date and offers significant potential for a discovery. Since the beginning of the option in 2008, and in the light of the Puma's drilling results, the total area of the property has been increased from the initial 217 hectares to the current 3,726 hectares.

Turgeon property option exerciced

Puma has exercised its option for the Turgeon property and has met all the requirements as stipulated in the option agreement. Puma now holds 100% of mining rigths over the entire property and the vendor retains a net smelter return (NSR) of 2% for gold / silver and 1% NSR for all other minerals over the initial block claim (217 ha.). Puma has rights to purchase the total NSRs for $1,000,000.

The work commitments have been mainly filled by compilation works and the drilling of 12 holes for a total of 2,667 meters of core. Significant copper and zinc intercepts have been encountered in the Puma's drilling from surface and at depth as showed in the following table.

Selected results from Puma's previous drilling

Hole From (m) To (m) Long (m) Cu (%) Zn (%)
F08-01 31.0 62.0 31.0 2.4 0.1
including 47.0 62.0 15.0 3.5 0.1
F08-03 50.0 90.0 40.0 1.0 2.9
including 70.0 78.0 8.0 1.1 6.6
F09-01 46.0 109.0 63.0 1.5 0.1
F10-01 29.0 97.0 68.0 1.0 0.1
including 38.0 64.0 26.0 2.4 0.1
  161.8 182.0 20.3 1.0 2.4

The final four (4) holes, of the 2010 drill program, totaling 1,264 meters have been drilled at the end of December 2010. All the holes intercept significant sulphide mineralization over significant thickness. Results are pending.

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 drilling will be undertaken 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 Nicholas-Denys Silver Project and Turgeon Copper 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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