Puma Exploration Inc.
TSX VENTURE : PUM

Puma Exploration Inc.

November 24, 2010 09:42 ET

Puma Intersects 68.0 Metres of 1.02% Copper at Turgeon

RIMOUSKI, QUEBEC--(Marketwire - Nov. 24, 2010) - Puma Exploration (TSX VENTURE:PUM) is pleased to report the results from the first hole drilled in 2010 at the Turgeon Copper Project, New Brunswick. The hole T10- 01 intersected three mineralized copper zones from which the first two grade more than 1% Cu over 68.0 metres and 20.3 metres respectively. The third zone is characterized by disseminated copper mineralization grading 0.24% Cu over 23.6 metres.

Main mineralized zones intersected in hole T10-01 (N240/-49)

Zone From (m ) To (m ) Length
(m)*
  Cu (% ) Zn (% ) Ag (g/t )
A 29.0   97.0   68.0   1.02   0.14   0.8  
Incl. 38.0   64.0   26.0   2.44   0.07   1.3  
  152.8   155.4   2.6   0.81   2.64   41.4  
B 161.8   182.0   20.3   1.04   2.43   8.9  
Incl. 161.8   163.9   2.2   1.15   8.72   31.1  
and 168.6   174.0   5.4   2.30   4.92   10.2  
  201.2   204.7   3.5   1.58   0.19   1.6  
C 223.6   247.2   23.6   0.24   0.05   0.4  
  303.8   307.5   3.7   1.00   0.09   1.8  
  486.9   488.7   1.8   0.03   0.61   49.0  

Zone A (29-97m)

The zone A corresponds to the Power line showing which outcropping at surface. The mineralization comes in form of thick chalcopyrite stockwerk. The core of the mineralized zone is characterized by a significant copper enrichment grading 2.44% Cu over 26 metres.

Zone B (161-182m)

The zone B corresponds to the 100m Zinc Zone defined by Esso Minerals exploration works. It's consisted of several massives sulfides intervals varying from 2 to 5 metres spaced out by disseminated copper mineralization. Include in the copper mineralization of more than 1% Cu over 20.3 metres, this zone contains a zinc enrichment grading 2.4% Zn over 20.3 metres as well as precious metals enrichment.

Zone C (223-247m)

This zone corresponds to the 48-49 Zone defined by Esso Minerals. The previous holes E82-48 and E82-49 by Esso had intersected this zone that at about 75 metres east of hole T10-01 with 2.1% Cu over 24.2 metres and 2.1% Cu over 19.1 metres. In hole T10-01, the mineralization comes in form of disseminated copper grading 0.24% copper Cu over 23.6 metres. The interpretation of the borehole geophysical survey done in hole T10-01 should allow to specify relation between the zone cut and the ones in the previous drilling.

Precious metals

Besides intercepting copper and zinc mineralization, hole T10 confirms silver enrichment of some massives sulfides veins. Silver intersections grading more than one ounce, such as 41.4 g/t Ag over 2.6 metres and 31.1 g/t Ag over 2.2 metres have been cut for the first time in drilling. It is to note that the majority of the previous holes were not analysed for precious metals.

The hole reached the depth planned of 594 metres and at 303.8 metres the hole cut a mineralized fault zone grading 1% Cu over 3.7 metres. Further to this fault zone, the hole got into an important sequence of mafic dykes cross-cutting almost entirely the host rock of the mineralization.

In the light of the results of hole T10-01, the drilling program will resume immediately after the final interpretation of the geophysical survey. Exploration works should start at the beginning of December 2010.

About Turgeon

The Turgeon property is located only five kilometres south of the deepwater port of Belledune and 25 kilometers north of Bathurst, New Brunswick. The property is accessible by road all year round and is intersected by a power line. The total current area of the property is 24.5 km2 (2,450 hectares).

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. 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."

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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