February 2, 2011 – Cougar Minerals Corp. – TSX-V: COU (“Cougar” or “the Company”)Cougar Minerals has completed a 5 hole diamond drill program on its Rice Lake project in southeastern Manitoba. The drill program was affected by significant mechanical difficulties, and, as a result of these problems, the final hole was terminated before reaching its target. On the Wyatt property, two holes were drilled to test the Wanabe showing and one hole was drilled at the Main Zone. On the PFG/Bill property, 1 hole tested the On The Mark showing. The final drill hole of the program attempted to test the Carbucketty showing before mechanical problems resulted in the program shut-down. Neither the On the Mark or Carbucketty showings were adequately tested by this program. A total of 664 meters were drilled. 186 samples were collected from drill core, for analysis. Results for all samples have now been received.

On the Wyatt property, a zone of shearing, silicification and quartz veining was intersected in both drill holes testing the Wanabe showing. Samples failed to return any results of interest. At the Main Zone, several zones of quartz-carbonate veining and shearing were intersected which returned elevated, but sub-economic gold values. The best result was a 4 meter zone, containing up to 30% quartz veinlets, which averaged 650 ppb Au over the 4 meter core width.

On the PFG/Bill property, a silicified and carbonate altered gabbro dyke containing minor quartz veins was intersected at the On The Mark showing. Samples collected across the 3.17 meter core width returned an average of 313 ppb Au.

All of the analytical results from the drill program have been received and any results of significance are reported in this release. Widths described above are core lengths and have not been corrected to true width. Sample intervals were determined by mineralization and geology, and ranged from 0.14 to 2.35 meters. Core was sawn, with half-core samples shipped to TSL Laboratories in Saskatoon for preparation and analysis. TSL Laboratories is an ISO 17025-2005 accredited laboratory. Gold analyses were by Fire Assay/AA finish on a 50 gram split of pulverized sample. A quality control-quality assurance program was implemented by the company during the drill program, including company inserted blanks and standards at random intervals.