PRESS RELEASE

Puma Exploration Inc. Announces a $6 Million Financing

Rimouski, Quebec, November 27, 2007 ??? Puma Exploration Inc. (PUM - TSXV) (the ???Corporation??? or ???Puma???) is pleased to announce that it has entered into an agreement with Northern Securities Inc. to issue and sell, on a best effort basis, up to 5,454,545 flow-through shares at an issue price of $0.55 per share, resulting in gross proceeds to Puma of up to $3 million and up to 6,666,667 non flow-through units at an issue price of $0.45 per unit, resulting in additional gross proceeds to Puma of up to $3 million (the ???Offering???). ??

Each non flow-through unit will consist of one common share of the Corporation and one common share purchase warrant (the ???Warrant???). Each Warrant will entitle the holder thereof to purchase one additional common share of the Corporation for a period of 24 months from the date of issuance, at an exercise price of $0.55 per share.?? Notwithstanding the foregoing terms, if the common shares of the Corporation have a closing price on the TSX Venture Exchange equal to or greater than $1.00 per share, at any time after the expiry of the statutory hold period, for a minimum of ten (10) consecutive trading days, Puma shall have the option to provide warrant holders with a written notice advising them of the following: within ten (10) business days from receipt of the notice, the warrant holder will be able to exercise the warrants at the existing exercise price of $0.55 per share; or failing such exercise within ten (10) business days of receipt of the notice, the exercise price of the Warrants will be automatically adjusted to $0.80 per share for the remainder of the term of the Warrants.

In addition, the Corporation has granted to Northern Securities Inc. an option exercisable at any time prior to 24 hours prior to the closing of the Offering to increase the size of the financing by up to 50% under the same proportion, terms and conditions and price as the Offering (the ???Broker???s Option???).

In connection with the Offering, the Corporation will pay to Northern Securities Inc. a cash commission of 8% of the aggregate gross proceeds of the Offering including any proceeds raised by the Corporation pursuant to the exercise of the Broker???s Option.?? Northern Securities Inc. will also receive a number of broker warrants equal to 10% of the aggregate number of flow-through shares and non flow-through units sold pursuant to the Offering including any flow-through shares and non flow???through shares sold pursuant to the Broker???s Option.??

All securities issued in connection with the Offering will be subject to a four-month hold period from the closing date. The Offering is subject to the approval of the regulatory authorities, including the TSX Venture Exchange.

The investment proceeds will be used for the exploration and development of the Nicholas-Denys project in New Brunswick and exploration for the Auriferous project in Little Stull Lake, Manitoba.

The Corporation will use $1.5 million of the gross proceeds of the Offering for the development of the Hach?? Lens on the Nicholas-Denys project. The planned work includes a feasibility study, the design of the open pit and the impact studies needed to obtain the mining lease as well as all of the preparatory work.

Out of an exploration budget of $3 million, $2.5 million will be used for the exploration and surface definition of other ore lenses on the Nicholas-Denys property, namely the PineTree, Shaft and Henry lenses. A budget of approximately $500,000 will also be applied to Phase 2 of the drilling work in progress on the Little Stull Lake Auriferous property in Manitoba.

About Puma Exploration Inc.

Puma Exploration Inc. is a public mineral exploration corporation (PUM-TSXV) involved in the discovery, exploration and development of mining projects in Canada. Puma???s efforts are focused on its two major advanced projects: the polymetallic project (Ag-Pb-Zn-Au) on the Nicholas-Denys property in New Brunswick and the Auriferous project (Au) in Little Stull Lake, Manitoba.

The TSX Venture Stock Exchange disclaims any responsibility regarding the veracity and accuracy of this press release.

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