2012-06-29 08:40 ET - News Release

Mr. Marcel Robillard reports

PUMA EXPLORATION CLOSES PRIVATE PLACEMENTS FOR $988,830

Puma Exploration Inc. has closed the announced non-brokered private placement financing of flow-through units. The company issued 2,960,599 units at an issue price of 30 cents per flow-through unit for gross proceeds of $888,180. The flow-through units comprise one flow-through common share and one-half of one common share purchase warrant. Each full warrant will entitle its holder to acquire one additional common share of Puma at a price of 40 cents for 24 months.

The company also announces the closing of a second non-brokered private placement in the amount of $100,650 to satisfy the increasing demand in Puma's first placement. The company issued 335,500 units at an issue price of 30 cents per flow-through unit and 167,750 common share purchase warrants having the same term than the above.

In connection with these flow-through private placements, the company has paid cash finders' fees in an amount of $73,454 and issued 244,847 finders' warrants having the same terms as the units. All securities issued to purchasers and finders under the offering are subject to a four-month hold period from the date of issuance of the securities, pursuant to applicable securities legislation and the policies of the TSX Venture Exchange. The placements have received the conditional approval of the TSX-V.

The proceeds of the offering will be used for the exploration and development of Puma's properties in New Brunswick and Manitoba.