Puma Exploration Closes Private Placement for $867,200

RIMOUSKI, QUEBEC--(Marketwired - Dec 23, 2014) - Puma Exploration (TSX VENTURE:PUM) is pleased to announce that it has closed a first non-brokered private placement with qualified investors in the amount of $251,250. With this placement, Puma Exploration issued 1,675,000 common shares at the price of $0.15 per share and 1,675,000 warrants. Each full warrant gives its holder the right to purchase one common share at a price of $0.20 per share until December 23, 2016.

In connection with this private placement, the Company has paid cash finder's fees in an amount of $8,625 and issued 57,500 finder's warrants will entitle holder to acquire one additional common share of Puma at a price of $0.15 for 24 months.

The Company also announced the closing of a second non-brokered private placement financing of flow-through units with qualified investors. The Company issued 3,079,750 units at an issue price of $0.20 per flow-through units for gross proceeds of $615,950. The flow-through units comprise one flow-through common share and one-half of one common share purchase warrants. Each full warrant gives its holder the right to purchase one common share at a price of $0.30 per share until December 23, 2016.

In connection with this Private Placement, the Company has paid cash finder's fees in an amount of $45,406 and issued 227,430 finder's warrants will entitle holder to acquire one additional common share of Puma at a price of $0.20 for 24 months.

All securities issued to purchaser and finder 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. These placements have received the conditional approval of the TSX Venture Exchange.

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

In addition, Puma Exploration 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 8,400,000 to 10,500,000.

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 Project and Turgeon Copper Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba. Puma is focusing now its exploration efforts in New Brunswick, Canada.

Learn more by clicking here: www.pumaexploration.com

The contents of this press release were prepared by Marcel Robillard, a Qualified Person as defined in NI 43-101. 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.