Puma Exploration: Update on the Current Exploration Program on Nicholas-Denys Silver Property

RIMOUSKI, QUEBEC--(Marketwire - Nov. 4, 2010) - Puma Exploration (TSX VENTURE:PUM) is pleased to provide an update on the current exploration program undertaken on the company's Nicholas-Denys Silver property this fall. The primary goals for the 2010 exploration program are to delineate mineralized zones discovered in previously successful drilling programs at the Haché and Shaft lenses and to conduct an extensive geophysical survey to define first-priority targets to be drilled along the 2.3 km strike length of the favourable structure between the Haché and Henry lenses.

In 2008, a NI 43-101 compliant indicated (1.11M oz.) and inferred (0.78M oz.) mineral resource of 1.89 million ounces of silver has been estimated over the central part of the Haché lens (50m x 100m) to a maximum depth of 125 meters from only 36 drillholes. Since the calculation, 84 new holes for 20,000 metres have been drilled on the Haché and Shaft lenses for a strike length of about 700 metres and to a vertical depth of 450 meters defining five new mineralized zones.

Selected silver results previously drilled by Puma on the Haché lens

In the 2008 drill program, 22 holes over 84 holes (26%) intersected at least 90 g/t Ag over a minimum length of 3 metres of core. The drilling defined 5 new lenses in the Shaft area, over a strike length of 700 metres which represent only 10% of the favourable structure hosting, so far, beside the Haché and Shaft lenses, four other mineralized lenses. These lenses have received only limited exploration works and the mineralized zones are open at depth and along strike.

Selected Silver results from the 2008 drilling program in the Shaft area

The current geophysical survey is designed to identify the best mineralized zones in the Shaft area that could be similar in grade and volume to the Haché lenses with the objective to significantly increase the silver resources and to explore any potential new lenses over 2.3 km between the Haché and Henry lenses. This electromagnetic survey is 20 line-length km and covered, from east to west, the Shaft, Haché and Henry lenses. The survey will provide a maximum depth of investigation of about 500 metres below the surface.

Following the interpretation of the geophysical surveys more field work including prospecting, trenching and 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 New Brunswick and Manitoba, Canada.

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. All the results and the NI 43-101 resources estimates have been release previously and are available at the company web site. 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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