Rimouski, December 8, 2011 – Puma Exploration (PUM-TSXV) announces the discovery of a major

mineralized lens at Nicholas-Denys with up to 1,020 g/t Ag and 0.27% Bi (Bismuth). The Dante lens is

located along a second E-W Main Fault Zone, 500 meters north of the Rocky-Brook-Millstream Fault

which is associated with the Henry, Henry East, Haché, Shaft and PineTree lenses.

At the Dante lens, the mineralization appears as disseminated to massive sulphide lenses varying in

thickness from 0.5 meter to 25 meters, generally oriented N070° within the regional foliation, as well as,

silver-rich NW-SE structures composed of numerous parallel veins of rusty sulphides varying in thickness

from 10 cm to 1 m each. An area of 0.9 hectares (150m X 60m) has been cleared and the Dante lens has

been stripped for 0.015 hectare (50m X 30m) so far.

A total of 66 grab samples from the stripped area have been collected and select analytical results are

summarized in Table 1. Also, 17 channels for a total length of 550 meters have been sampled over the

Main Dante Lens, results are pending.

#

351257 0.02 333 719 0.16 2.8 2.4

351262 0.00 288 490 0.17 11.7 6.2

351265 0.02 169 289 0.10 6.5 1.7

351269 0.05 931 2070 0.10 4.1 0.2

351270 0.04 611 1450 0.11 3.4 3.0

351274 0.03 219 454 0.21 2.1 1.8

351277 0.01 199 407 0.15 2.4 3.0

351278 0.03 154 270 0.05 2.1 0.1

351280 0.19 211 303 0.35 3.7 0.3

351285 0.03 235 565 0.08 1.6 3.0

351301 0.10 966 2470 0.25 3.1 5.5

351302 0.03 1,020 2730 0.26 3.2 5.7

351304 0.03 294 639 0.10 1.9 0.8

351306 0.01 185 434 0.13 1.7 0.2

351309 0.02 346 759 0.18 3.0 2.9

351311 0.01 126 45 0.30 8.3 7.1

351312 0.50 170 203 0.24 7.4 6.7

351316 0.01 132 207 0.12 7.0 0.1

PUM TSXV

The continuity of the mineralization at the Dante Lens has been proven over a strike length of 200 meters

west of the main stripping area by three (3) additional trenches spaced 25 to75 meters apart. In each

trench, representative grab samples have been collected from the sulphide zones and select analytical

results are summarized in Table 2.

T11-50 349408 0.05 144 5 0.07 3.3 2.0

T11-50 349411 0.05 334 75 0.17 3.5 3.0

T11-50 349412 0.02 160 137 0.08 1.4 0.9

T11-51 349427 0.20 131 161 0.11 2.9 0.2

T11-51 349429 0.03 163 8 0.18 8.1 0.2

T11-51 349430 0.16 109 16 0.38 6.6 2.2

T11-51 349431 0.03 96 36 0.69 3.4 1.0

T11-51 349432 0.15 80 66 0.14 4.0 1.1

T11-54 349491 3.98 926 6 0.08 14.8 3.4

T11-54 349492 7.31 1,980 3 0.04 >20.0 0.2

T11-54 349493 7.07 777 5 0.08 11.5 4.7

T11-54 349494 9.93 644 5 0.10 10.0 6.8

T11-54 349495 8.40 620 9 0.11 10.6 8.4

T11-54 349496 9.58 407 6 0.09 6.2 6.1

T11-54 349498 8.21 428 3 0.10 6.9 8.0

The mineralization discovered in the lenses located along the second E-W Main Fault Zone show Silver-

Lead-Zinc grades similar to the Rocky-Brook-Millstream Fault Zone lenses; Bismuth and Copper content

are significantly higher. This Bismuth enrichment has also been noted in Puma’s previous exploration

work done along the Main Fault Zone as shown in Table 3.