Puma Exploration Inc.
TSX VENTURE : PUM

Puma Exploration Inc.

November 10, 2011 09:14 ET

Puma Exploration Trenches Discover High Grade Silver and Gold Mineralization With up to 2,450 g/t Ag and 29.5 g/t Au at Nicholas-Denys, New Brunswick

RIMOUSKI, QUEBEC--(Marketwire - Nov. 10, 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 continuous surface silver and gold mineralizations over a strike length of 500 meters with grades up to 2,450 g/t Ag, 29.5 g/t Au, >20% Pb and 12.5% Zn in the Henry area.

The mineralization appears as semi-massive to massive sulphide lenses varying in thickness from 0.5 meters to 5 meters, generally oriented N070° within the regional foliation. The continuity on the mineralization has been proven by nine (9) different trenches spaced 25 to75 meters apart and spread over a strike length of 500 meters for a total length dug of 1,136 meters. In each trench, representative samples have been collected from the sulphide zones and select analytical results are summarized in Table 1.

Table 1. Representative samples of the sulphide lenses collected in the trenches

Trench Sample Au Ag Pb Zn
# # g/t g/t % %
T11-18 343508 27.3 943 15.0 3.4
T11-18 343509 29.5 429 7.4 0.3
T11-18 343510 21.1 613 8.9 0.3
T11-18 343515 19.3 776 12.9 4.7
T11-20 343511 0.6 21 0.3 0.1
T11-28 351814 3.4 1,100 4.3 0.2
T11-28 351815 1.9 801 2.3 0.2
T11-28 351816 10.4 2,450 10.1 0.4
T11-28 351822 6.2 299 3.1 0.3
T11-29 351863 9.8 494 8.4 6.4
T11-29 351864 18.7 646 11.0 10.6
T11-29 351865 11.1 542 9.5 12.0
T11-29 351866 19.9 777 13.4 12.6
T11-29 351867 2.8 791 16.7 4.0
T11-29 349491 4.0 926 14.8 3.4
T11-29 349492 7.3 1,980 20.0 0.2
T11-29 349493 7.1 777 11.5 4.7
T11-29 349494 9.9 644 10.0 6.8
T11-29 349495 8.4 620 10.6 8.4
T11-29 349496 9.6 407 6.2 6.1
T11-29 349498 8.2 428 6.9 8.0
T11-30 351882 6.1 477 6.9 1.1
T11-30 351883 6.5 284 3.2 1.7
T11-30 351884 5.6 657 5.1 4.5
T11-30 351885 13.0 543 8.0 7.5
T11-30 351887 9.6 440 6.5 2.9
T11-42 350601 9.2 223 4.5 1.5
T11-42 350602 12.3 701 14.6 5.6
T11-42 350604 11.2 126 2.6 2.4
T11-42 350605 7.1 241 5.0 5.7
T11-42 350606 12.5 133 1.9 12.6
T11-42 350607 5.1 95 1.8 2.1
T11-44 350626 3.8 158 2.6 0.1
T11-45 350629 6.8 11 0.3 0.2
T11-45 350630 1.5 31 0.3 0.1
T11-55 349478 5.9 872 2.9 0.4

This 500 meter long mineralization zone is interpreted to be the surface expression of the EM-1 geophysical anomaly detected during the 2011 winter survey (refer to press release 19/05/2011). The EM-1 geophysical anomaly was the most conductive feature detected during the survey and it shows a long trend extending more than 1.2km and open-ended to the west. The estimated "depth-to-top" of the conductor or the strongest electromagnetic signal is interpreted to be from 150 to 250 meters deep. To date the only hole drilled by Puma to test a limited part of the zone was FH11-03 at a vertical depth of 30 meters. (refer to press release of 07/04/2011) More drilling is required to adequately test the entire 500 meter long mineralization at depth and to locate the thicker part of the lenses.

In summary, 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 mineralization discovered at surface in trench T11-28 is located at only 90 meters east of the Cullinan South new discovery (see press release 20/09/2011) consisting of high grade gold and silver structures, with 21.1 g/t Au and 106 g/t Ag, 18.0 g/t Au and 82 g/t Ag and 15.9 g/t Au and 72 g/t Ag. This confirms the efficiency of the discovery model being utilized at Nicholas-Denys.

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.

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 blog page at: www.pumaexploration.blogspot.com

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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