Puma Drills 24.6 Meters of 100 g/t Silver, 1.4% Lead and 1.3% Zinc at Dante Lens, New Brunswic

RIMOUSKI, QUEBEC--(Marketwire - Jan. 18, 2012) - Puma Exploration (TSX VENTURE:PUM.V - News) is pleased to announce the results of the first seven (7) holes drilled at Dante Lens at the Nicholas-Denys Property, New Brunswick. Hole FD11-05, located in the central part of the stripped area, drilled 24.6 meters of mineralization grading 100 g/t Ag, 1.4% Pb and 1.3% Zn, including an higher grade zone of 8.0 meters with 181 g/t Ag, 436 ppm Bi, 1.3% Pb and 1.9% Zn.

Disseminated to massive sulphide mineralization has been encountered in every hole with thickness varying from 90 centimeters to 74.5 meters with an average width of 3 to 8 meters for the higher grade zones. Significant Bismuth and base metals content are also associated with the silver mineralization. Table 1 and Map 1 show the details of the drilling at Dante Lens.

Table 1. Drillhole Results at Dante Lens

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Holes       Direction       Dip  From    To   Length    Ag    Bi    Pb    Zn

#                                   m     m        m   g/t   ppm     %     %

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                 N180      45                                               

FD11-01       degrees degrees   30.30 32.00     1.70    91   213   1.6   1.2

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                 N170      45                                               

FD11-02       degrees degrees   20.00 27.50     7.50    73   153   1.3   1.0

 including                      20.00 24.10     4.10   130   327   2.1   1.7

 including                      20.00 22.60     2.60   182   419   1.6   1.4

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                 N170      45                                               

FD11-03       degrees degrees    3.30 12.50     9.20    52    99   1.1   1.0

 including                       8.15 10.20     2.05   112   251   1.5   1.5

 including                       8.90  9.90     1.00   165   387   1.8   2.3

 including                      15.00 15.45     0.45   188   192  10.4   4.1

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                 N170       70                                              

FD11-04       degrees  degrees   3.20 10.00     6.80    55   115   0.7   0.4

 including                       7.40 10.00     2.60    80   172   0.7   0.6

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                 N080       45                                              

FD11-05       degrees  degrees  19.50 94.00    74.50    44    93   0.7   0.7

 including                      55.80 94.00    38.20    70   152   0.9   0.9

 including                      65.50 90.10    24.60   100   221   1.4   1.3

 including                      71.20 79.20     8.00   181   436   1.3   1.9

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                 N020       45                                              

FD11-06       degrees  degrees  21.80 82.50    60.70    52   117   0.7   0.6

 including                      37.10 67.00    29.90    82   196   0.8   0.5

 including                      37.10 47.60    10.50   108   249   0.5   0.7

 including                      62.20 73.30    11.10    94   194   2.3   1.6

 including                      62.20 67.00     4.80   152   340   2.7   1.6

 including                      72.00 73.30     1.30   181   332   6.8   5.5

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                 N020       45                                              

FD11-07       degrees  degrees  34.90 35.80     0.90    51    26   2.5   1.7

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The Dante lens is open in all directions and particularly toward the south-east where holes FD11-05 and FD11-06 cut high grade zone of 181 g/t Ag over 8.0m and 152 g/t Ag over 4.8m respectively. More drilling will be required to verify the extent of the mineralization at Dante Lens and for the discovery of new lenses over the entire strike length (10 km) of the northern major structure (The Main Fault Zone) which controls the mineralization at Dante Lens but also at the Millstream Iron, Lavigne Brook, Beresford Copper and Stephen Brook deposits.

With the objective of defining continuity along the Main Fault Zone and to confirm the presence of the main features of the discovery model at Nicholas-Denys, five (5) reconnaissance holes were drilled in the Lavigne Brook area, located 6.3 kilometers east of the Dante Lens.

Table 2. Puma's Drillhole results at Lavigne Brook

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Hole       Direction     Dip  From    To Length  Ag    Bi    Cu    Pb    Zn

#                              (m)   (m)    (m) g/t   ppm     %     %     %

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                N008      45                                              

LB-11-01     degrees degrees  7.30  8.20   0.90 321   500  0.57  0.38  8.04

LB-11-01                     26.40 33.00   6.60  45   179  0.17  0.05  0.21

 including                   27.50 29.90   2.40  95   352  0.34  0.08  0.33

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                N008      45                                              

LB-11-02     degrees degrees 48.10 48.90   0.80  51   105  0.18  0.05  2.71

LB-11-02                     68.00 68.30   0.30  64   155  0.06  0.15  1.97

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                N008      45                                              

LB-11-03     degrees degrees 18.00 19.40   1.40  48   116  0.12  0.06  0.53

 including                   19.20 19.40   0.20 221   613  0.57  0.11  0.06

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                N008      45                                              

LB-11-04     degrees degrees  31.6  33.9   2.30 109   275  0.25  0.12  0.61

 including                    32.1  33.1   1.00 138   404  0.33  0.14  0.50

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At Lavigne Brook, holes drilled in 1971 by Mija Mines Limited, intersected very high grade silver mineralization up to 509 g/t Ag over 3.8 meters and 318 g/t Ag over 6.0 meters but no collar or core is available for interpretation. Puma's holes cut similar silver and bismuth content but also confirm the presence of transverse faults and pervasive alteration. More work will be needed to identify the main features of the discovery model over the entire 52.8km2 land package at Nicholas-Denys.

"A bigger picture is now emerging for the Nicholas-Denys Silver Project. What were originally thought to be smaller individual deposits, now appear to be connected links within two very large mineralized corridors approximately 10 kilometers in length. These continuous corridors not only offer the potential for expanded resources but also important economies of scale when they are exploited. The more we drill, the better we understand our geological model at Nicholas-Denys. We anticipate an exciting year of progress in 2012." Notes Marcel Robillard, President of Puma Exploration.