Puma Exploration Starts Drilling Program at Nicholas-Denys Project, New Brunswick

RIMOUSKI, QUEBEC--(Marketwire - Oct. 18, 2012) - Puma Exploration (TSX VENTURE:PUM) has started a two phase drilling program at Nicholas-Denys property, New Brunswick. The first phase of approximately 1,000 meters focuses on the Henry East lens, located along the western end of the Rocky-Brook-Millstream fault. The second phase, of an additional 1,000 meters, will test the skarn horizon and the Nicholas-Denys porphyry.

Drilling program in progress on Henry East lens

The first phase of the drilling program is underway and targets the Henry East massive sulphide lens located along the Main Fault Zone. Ten holes will be drilled over the main stripping area in preparation for two deeper 250-300 meters long holes testing the EM-1 electromagnetic geophysical anomaly at depth.

The Henry East Lens outcrops on surface as a semi-massive to massive sulphide zone varying in thickness from 0.5 meters to 5 meters with selected grab samples graded up-to 943 g/t Ag, 29.5 g/t Au, 16.7% Pb and 12.5% Zn. The continuity of the mineralization has been proven by nine (9) different trenches spaced by 25-75 meters and spread over a strike length of 500 meters.

Due to winter conditions, only a limited part of trench T11-29 was accessible for channel sampling. In channel NS1, located in trench T11-29 a sample with 5 g/t Au, 267 g/t Ag, 4.9% Pb and 2.4% Zn over 2.0 meters was recovered. The two other channel samples with 3.6 g/t Au and 716 g/t Ag over 2.2 meters and 2.0 g/t Au and 130 g/t Ag over 2.2 meters were also identified.

This 500 meter long mineralization zone is interpreted to be the surface expression of the EM-1 geophysical anomaly detected during the 2011 winter survey (see press release 19/05/2011). The EM-1 geophysical anomaly was the most conductive feature detected during the survey, and shows a long trend extending on more than 1.2 km and open-ended to the west. The estimated "depth-to-top" of the conductor or the strongest electromagnetic signal is interpreted to be between 150 and 250 meters deep. No hole has tested this mineralization zone at depth.

Skarn horizon and Nicholas-Denys porphyry at depth

The second phase of drilling will include two (2) deep 500-600 meters holes located at the south and north contacts of the Nicholas-Denys felsic porphyry. Only limited shallow drilling program were directed in 2007 at these locations and deep holes are needed to better evaluate the entire potential of the Nicholas-Denys Porphyry system. Borehole geophysical surveys will be conducted in these holes.

The First deep hole will be located south of the pluton near hole F07-04 near the Millstream Iron Deposit which intersected near surface copper-skarn mineralization grading 1.04% Cu, 0.3 g/t Au and 10 g/t Ag over 9.75 meters. The second hole will be located in the northern part of the intrusive near hole F07-09 which intersected persistent molybdenum mineralization grading 0.030% Mo over 93 meters including a richer zone of 0.074% Mo over 23.5 meters.

Nicholas-Denys 2012 Exploration Program

Puma Exploration has conducted extensive exploration program at Nicholas-Denys in 2012. So far, 18 holes for 2,009 meters of drilling, 25 trenches for 3,100 meters of trenching and stripping of about 9,600 m2 were directed on the two main structures which are the Rocky-Brook-Millstream and Main Fault Zones. Currently more stripping and trenching are in progress along the Main Fault and a detail channel sampling program is underway at the Henry East Rich Silver and gold lens. More results will be released shortly on these programs.