Puma Exploration Welcomes Richard Thibault as a Board Member

RIMOUSKI, QUEBEC--(Marketwire - March 11, 2011) - Puma Exploration (TSX VENTURE:PUM) welcomes Richard Thibault as a board member. Richard Thibault is a registered mining engineer with over 32 years of experience in engineering, operations, management and consulting experience in North and South America and is currently the President, Chief Executive Officer and Director of Antioquia Gold Inc. a publicly traded company with mining interests in Colombia.

From 1996 to 2006, Richard Thibault was based in South America where he has worked in Argentina, Bolivia, Chile, Colombia, Ecuador, Mexico, Panama, Peru and Venezuela. While based in Buenos Aires, Argentina he held the position of President of High American Gold Inc., a publicly traded junior mining company, and Managing Director of Procesadora de Boratos Argentinos S.A. (PBA), a private industrial mineral company. In Santiago, Chile he was the General Manager of the consulting firm BGC-AVOT Engineering Inc. In 2006/07, he held the position of Vice President, Minerals of Daleco Resources Corp., a United States based publicly traded company. Before moving to South America, he worked for the Canadian company, Fording Coal Ltd., in progressively responsible positions.

Richard Thibault also serves as a director of the publicly traded company Argentex Mining Corporation. He has a B.Sc. (Mining Engineering) from Queen's University and is fluent in English, Spanish and French.

Management would like to thank Mr. Andre de Guise Eng, outgoing director, for services rendered during his tenure.

In accordance with its compensation policy and stock option plan, on March 10, 2011, Puma Exploration granted 1,630,000 stock options with an exercise price of $0.35, expiring on March 10, 2021, distributed as follows:

Puma Exploration announces that filed a modification to its stock option plan with the TSX Venture Exchange. This change will increase the maximum number of stock options that may be issued under this plan from 4,000,000 to 6,300,000.

About Puma Exploration

Puma Exploration is a Canadian mineral exploration company with advanced projects in precious and base metals in Canada. The Company's major projects are the Turgeon Copper Project and Nicholas-Denys Silver Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba.

Details of Puma projects are available at www.explorationpuma.com.