Puma Exploration Inc.
TSX VENTURE : PUM

Puma Exploration Inc.

September 30, 2014 08:00 ET

Puma Samples 3% Cu at Turgeon Cu-Zn Project in New Brunswick

RIMOUSKI, QUEBEC--(Marketwired - Sept. 30, 2014) - Puma Exploration (TSX VENTURE:PUM) reports that its 2014 stripping and trenching program at the Turgeon Cu-Zn VMS project in New Brunswick has resulted in the discovery of two new distinct VMS showings in the vicinity of the recently discovered Dragon Zone (Press release April 29, 2014) and the Zinc Zone. A map showing the location of the new surface discoveries are attached to the version of this press release at www.explorationpuma.com.

The first new discovery is located at surface over the southern part of the Zinc Zone which was intersected at a depth of about 150 vertical meters by drilling. The Zinc Zone has so far only been defined by drilling with no drill intercepts between surface and 150 meters vertically. It is possible that this new surface discovery is part of the Zinc Zone which allow for a considerable volumetric increase if confirmed by future drilling. Grab samples collected from trench TR14-44 returned grades up to 3.04% Cu and 2.05% Cu. The mineralization consists of semi-massive to disseminated sulphides hosted in silicified basalt and is open in all directions.

The second surface discovery is located 60 meters north of the Dragon massive sulphide Zone that was intersected in drillhole FT13-13 at a vertical depth of 100 meters. The direct geologic relationship between this new discovery and the Dragon Zone is not yet known except that both are elements of a significant VMS system. The mineralization is composed of massive to semi-massive sulphides hosted in a chloritized basalt near the major Jaspe syn-volcanic fault. Grab samples collected from trench TR14-38 returned grades up to 0.97% Cu, 1.63% Zn and 29.5 g/t Ag.

Table 1. Selected grab samples from Turgeon Trenching Program

Trench (#) Rock sample (#) Ag
(g/t)
Cu
(%)
Zn
(%)
TR14-37 Amygdaloidal basalt P160858 1.1 0.01 0.34
TR14-38 MS/SMS* P160884 6.1 0.97 0.16
TR14-38 MS P160885 29.5 0.07 0.10
TR14-38 MS P160886 21.4 0.07 0.08
TR14-38 MS/SMS P160887 5.3 0.71 0.33
TR14-38 MS P160888 1.8 0.16 0.18
TR14-38 MS P160890 8.4 0.87 1.63
TR14-38 MS P160891 1.1 0.06 0.23
TR14-38 Brecciated basalt P160892 9.2 0.35 0.10
TR14-38 Basalt P160863 4.0 0.04 0.18
TR14-39 Brecciated basalt P160866 3.8 0.12 0.34
TR14-41 Basalt/Sheeted dyke P160870 0.6 0.03 0.16
TR14-44 Brecciated basalt P160873 0.2 0.01 0.24
TR14-44 Brecciated basalt P160874 0.4 0.20 0.07
TR14-44 Basalt P160875 3.1 3.04 0.08
TR14-44 Basalt P160876 2.3 2.05 0.04
* MS=Massive Sulphide SMS=Semi Massive Sulphide

The stripping and trenching program was initiated in August 2014 and included 17 trenches over 806 meters where 49 grab samples were collected. The main objective of the program was to locate the favorable rock units with the chlorite alteration required to generate prospective drill targets in the Dragon Zone. This program has provided sufficient information to plan our next drill program and the bonus discovery of two new important surface zones only 150 meters apart significantly increases the combined footprint of the Powerline, Zinc and Dragon VMS Zones at Turgeon. The total known mineralized VMS surface footprint at Turgeon now covers an area 600 meters long by 300 meters wide.

Puma's exploration team is currently preparing drill sites for the arrival of a tracked mounted diamond drill in early October, 2014.

About Turgeon VMS Property

The Turgeon volcanogenic massive sulphide property (100% owned), acquired by Puma in 2008, is located in northeastern New Brunswick approximately 20 km north of Puma's Nicholas-Denys property and the town of Bathurst. It is also located 5 km south of Glencore Xstrata's lead-silver-gold smelter and the Belledune deep-water concentrate handling facility.

At Turgeon, historic drill intercepts, by Esso Minerals in 1983 and by Puma since 2008, of copper and zinc are impressive with up to 36.2 m of 2.3% Cu in the Powerline copper Zone and up to 72.2 m of 2.7% Zn + 1.0% Cu in the Zinc Zone.1 Following ground mapping and prospecting, Puma drilled four holes in early 2009 and reported near surface massive sulphide intercepts of 40 m of 1.0% Cu + 2.9% Zn and 31 m of 2.4% Cu. Also, very high grade copper results of 10.0% Cu + 54 g/t Ag were intersected in Puma's drilling.2

In April 2014, Puma discovered the Dragon Zone, a new near surface VMS target zone located within 500 m of the main Powerline and the Zinc zones. The Dragon Zone is a pervasive VMS system that occurs in the same volcanic unit that hosts the Powerline and Zinc Zones. Higher grade intercepts of up to 4 m of 1.01% Cu and 0.78% Zn occur within much larger mineralized halo intercepts of 161 m of 0.16% Zn and 115 m of 0.11% Zn at the Dragon Zone.3

1 Press Release April 11, 2008,
2 Press Release August 4, 2009,
3 Press Release April 29, 2014

About Puma Exploration

Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company's major assets are the Nicholas-Denys Project and Turgeon Copper Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba. Puma is focusing now its exploration work in New Brunswick, Canada.

Learn more by clicking here: www.pumaexploration.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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