Puma Exploration Drills 6.4 Meters of 446 g/t Ag, 1.5 g/t Au, and 5.8% Zn at Nicholas-Denys Silver Project in New Brunswick

RIMOUSKI, QUEBEC--(Marketwire - July 5, 2012) - Puma Exploration (PUM.V) announces the results of the first seven holes of the 2012 Nicholas-Denys drilling program in New Brunswick targeting the high-grade zones of silver and gold within the Hache lens area.

Highlights include:

 
--  Drill intersection of 446 g/t Ag, 1.54 g/t Au, 2.2% Pb and 5.8% Zn over
    6.4 m within the main Hache lens, including a high grade zone of 820 g/t
    Ag, 2.70 g/t Au, 3.5% Pb and 3.4% Zn over 3.0 m in hole FHA12-04; 
--  Discovery, in hole FHA12-07, of a new silver and gold rich zone grading
    579 g/t Ag, 1.42 g/t Au, 3.7% Pb and 5.8% Zn over 1.9 m, located in a
    distinct sulphide lens (Hache West) at the south-west extension of the
    main Hache lens; 
--  Persistant gold mineralization drilled near surface and grading 1.1 g/t
    Au over 17.5 m including a higher grade zone of 2.8 g/t Au over 5.0 m. 
 

The main Hache lens

The drilling program hit the targeted high grade silver and gold zone in hole FH12-04, which intersected semi-massive to massive sulphide mineralization over 15.1 meters grading 195 g/t Ag, 0.74 g/t Au, 1.0% Pb and 2,6% Zn. It includes a higher grade zone of 820 g/t Ag, 2.70 g/t Au, 3.5% Pb and 3.4% Zn over 3.0 m.

The sulphide zone intersected in FH12-04 is one of the richest silver zones intercepted to date on the property. Previous holes drilled by Puma cut similar high grade zones and defined the richest zone of the main Hache lens.

Table 1: Selected Puma's holes drilled in the main Hache Lens rich zone

 
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Hole          From (m)   To (m) Long (m) Ag (g/t) Au (g/t)   Pb (%)   Zn (%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
FHA12-04          72.9     87.9     15.1      195     0.74      1.0      2.6
including         72.9     79.2      6.4      446     1.54      2.2      5.8
including         75.6     78.6      3.0      820     2.70      3.5      3.4
including         75.6     77.6      2.0    1,112     3.52      4.6      4.9
----------------------------------------------------------------------------
F07-04            48.6     51.8      3.2      328     1.56      2.9      2.7
F07-15            70.9     75.7      4.8    1,096     5.59      5.3      7.7
F07-16            46.0     49.0      3.0      679     1.81      8.3      5.1
F07-25            62.7     65.8      3.1      494     1.14      5.5      2.8
F07-27            57.8     61.5      3.7      448     2.00      2.5      2.9
F07-30             6.7     10.2      3.5      329     1.39      1.2      2.4
F07-31            26.1     30.7      4.6      503     2.09      2.2      3.0
F07-32            27.2     30.2      3.0      939     1.83      4.5      4.9
F07-33             6.8     11.9      5.1      375     1.90      1.4      3.3
----------------------------------------------------------------------------
 

So far, the rich zone of the Hache lens has been followed by drilling over 75 meters laterally and to a vertical depth of 55 meters and remains open at depth and toward East. Drill hole FH12-04 is located at the eastern end of the actual rich zone which corresponds to the intersection of the NW-SE transverse faults and the regional N070 degrees sulphide horizon. The sulphide horizon is followed on the property for a strike length of more than 10 km. Similar rich zones have been drilled at Shaft and Pinetree lenses from 2006 but the previous drilling programs were not designed to test that model.

The Hache West lens

The drilling program also confirmed the presence of a distinct sulphide zone located 30 meters south-west of the Hache lens. Holes FHA12-02 and FHA12-07 intersected the Hache West lens which has been followed by drilling over more than 100 meters laterally and to a vertical depth of 140 meters and remains open at depth. This sulphide lens is composed of semi-massive sulphide mineralization with an average thickness of 3 meters.

Hole FHA12-07, collared at the western extension of the Hache West lens, intersected a high grade silver and gold zone similar to the rich zone hit at the main Hache lens. The new rich zone in that hole grades 280 g/t Ag, 0.70 g/t Au, 1.8% Pb and 2.8% Zn over 4.0 meters and includes a very high grade zone of 579 g/t Ag, 1.42 g/t Au, 3.7% Pb and 5.8% Zn over 1.9 meter.

Table 2: Selected Puma's holes drilled at the Hache West Lens

 
----------------------------------------------------------------------------
                                  Length                                    
Hole          From (m)   To (m)      (m) Ag (g/t) Au (g/t)   Pb (%)   Zn (%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
FHA12-02         128.9    133.0      4.1      103     0.11      0.2      2.1
including        128.9    131.0      2.1      175     0.17      0.1      3.4
FHA12-07          51.0     64.4     13.4       89     0.23      0.6      0.9
including         60.5     64.5      4.0      280     0.70      1.8      2.8
including         60.5     61.5      1.9      579     1.42      3.7      5.8
----------------------------------------------------------------------------
F07-04            93.0     97.3      4.3       88     0.31      0.8      1.6
F07-18            64.2     65.4      1.2       51     0.29      0.3      3.5
F07-20           109.6    114.4      4.8      100     0.20      1.4      3.0
including        110.9    114.4      3.5      118     0.25      1.7      3.8
F08-38           129.6    133.4      3.8       42     0.23      0.6      2.3
F08-45           117.9    121.4      3.5       78     0.30      1.4      1.2
F08-47            74.0     77.4      3.4       95     0.11      1.7      1.9
F08-51           157.8    165.0      7.2       82     0.35      1.4      1.4
including        160.0    163.3      3.3      138     0.73      2.3      2.2
F08-52           189.4    200.0     10.6       84     0.10      1.6      1.9
F08-43            97.0     99.0      2.0       82     0.07      1.4      1.1
F08-57           205.2    211.0      5.8       62     0.30      1.2      2.9
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Nicholas-Denys 2012 drilling program

The drilling program at Nicholas-Denys included 11 holes for a total of 1,375 meters. Seven (7) holes for 1,005 meters were collared at Hache lens area and consisted of infill and step-out hole designed to target the high-grade silver and gold zones within the Hache lens and the presence of any new rich zones. The table 3 shows the results of the seven (7) holes drilled at the main Hache lens. The four (4) other holes for 370 meters drilled were located at the Dante lens 2011 new discovery and results are pending.

''All the holes drilled in the Hache area succeeded to intersect significant silver-gold-zinc mineralization and upgraded significantly the understanding of the silver and gold rich zone targets for the entire project. Following the new discovery in the Hache area, a stripping and trenching program is planned to discover the Hache West lens at surface and new targets defined during the current drilling program." Note Marcel Robillard, Puma's President.

Table 3. Results from the current drilling program at Hache lens

 
----------------------------------------------------------------------------
                                  From     To Length    Ag    Au    Pb    Zn
Hole            Dir.
    Dip    (m)    (m)    (m) (g/t) (g/t)   (%)   (%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                N160                                                        
FHA12-01     degrees -45 degrees 24.60  54.90  30.30    33  0.74  0.15  1.70
including                        24.60  42.10  17.50    47  1.10  0.20  1.95
including                        37.20  42.20   5.00   106  2.80  0.19  5.08
----------------------------------------------------------------------------
                N160                                                        
FHA12-02     degrees -45 degrees 78.80  89.95  11.15    72  0.14  0.75  0.80
including                        79.75  85.60   5.85    91  0.12  0.97  0.54
including                        78.80  81.50   2.70   155  0.20  1.97  2.46
FHA12-02                        128.90 133.00   4.10   103  0.11  0.21  2.11
including                       128.90 131.00   2.10   175  0.17  0.12  3.40
----------------------------------------------------------------------------
                N160                                                        
FHA12-03    degrees -45 degrees 105.00 123.00  18.00    52  0.33  0.18  0.60
including                       105.00 105.25   0.25   460 10.05  1.31  0.88
including                       114.60 117.80   3.20   181  0.36  0.33  1.50
including                       114.60 116.00   1.40   371  0.78  0.31  2.66
----------------------------------------------------------------------------
                N160                                                        
FHA12-04     degrees -45 degrees 72.85  87.90  15.05   195  0.74  0.96  2.63
including                        72.85  79.20   6.35   446  1.54  2.19  5.78
including                        75.60  78.60   3.00   820  2.70  3.50  3.40
including                        75.60  77.60   2.00 1,112  3.52  4.58  4.88
----------------------------------------------------------------------------
                N160                                                        
FHA12-05     degrees -45 degrees 34.95  35.25   0.30   109  0.06  2.51  2.55
FHA12-05                         45.70  46.00   0.30   305  0.20  3.74  3.80
FHA12-05                         70.80  71.05   0.25   147  0.31  2.16  1.71
FHA12-05                        137.65 137.90   0.25   111  0.15  3.20  2.20
----------------------------------------------------------------------------
                N160                                                        
FHA12-06     degrees -45 degrees 70.00  70.25   0.25    93  0.21  1.16  0.75
including                        71.65  71.90   0.25   115  0.06  1.49  0.76
including                       113.50 114.00   0.50    88  0.38  2.03  2.74
----------------------------------------------------------------------------
                N160                                                        
FHA12-07     degrees -45 degrees 34.70  35.40   0.70   137  0.20  1.06  1.28
FHA12-07                         51.00  64.40  13.40    89  0.23  0.62  0.94
including                        60.50  64.50   4.00   280  0.70  1.81  2.76
including                        60.50  62.40   1.90   579  1.42  3.70  5.80
----------------------------------------------------------------------------
 

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 Silver Project and Turgeon Copper Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba. Puma is actually focusing its exploration efforts in New Brunswick, Canada, which has been ranked the best place in the world to conduct mining exploration by the 2012 Fraser Institute Survey. New players such as Trevali Mining Corporation which has initiated production at the Halfmile Mine and Votorantim and which is developing the Murray Brook Deposit are now very active in the area.

Learn more by clicking here: www.pumaexploration.com

The contents of this press release were prepared by Dominique Gagne, 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.