N@N

- nd indicated values within the reported intercept were low and included at least one value below detection limits. The detection limit for gold was 5ppb, and for platinum and palladium was 10ppb.
- the intercept widths quoted are not the true thicknesses, which are probably some 75% of those quoted.

DDH NPX-09-001, drilled east of the Norpax shaft, intersected a wide mineralised mafic-ultramafic sequence that is known to host nickel and platinum group metals. This sequence is located at approximately 50 and 100 metres respectively below previous drill intersections and the old underground workings, indicating potential for increasing the resource at the Norpax deposit. This extension to mineralisation is some 200 metres vertical below surface. The nickel and palladium values are as expected.

DDH NPX-09-002 was drilled west of the shaft and also below the underground workings. The sequence intersected represents footwall tonalite & granitoid intrusives. Initially the zone was believed faulted out, but further interpretation suggests that the hole stopped some 150m short of the target. Casing was left in the hole, so it can be reassessed in the future.

DDH NPX-09-003 tested surface mineralisation (nickel primarily), some 500 metres east of the shaft. There has been little historic drilling in this area and the hole intersected a mineralised sequence very similar to that at Norpax some 100 metres vertically below surface. The continuity of mineralization is reflected in the values, and suggests that further drilling between this hole and NPX-09-003, and at depth is required.

DDH NPX-09-004 tested for an easterly extension to the Norpax deposit, some 300 metres east of the Norpax shaft. Mineralization in this hole is more robust than in NPX-09-003, which is reflected in some gratifying nickel values over an appreciable thickness.

Drilling has now commenced on the Werner Lake Cobalt Deposit, and it is anticipated results from the first holes drilled by Puget Ventures at the Cobalt Deposit will be released early in 2010.

All cores were NQ and aw-split before sampling. Cores are stored at the Company facility on site. All analyses were done by Accurassay at Thunder Bay. Assays for gold and platinum group elements were by single assay ton fire assay with a AA finish. Base metal analyses were by ICP-MS following acid digestion.

The field work was completed by Toby Hughes, P.Geo, P.Geo and the qualified person for this release is Dr. Adrian Mann, P.Geol.

About Puget Ventures Inc. ([ www.pugetventures.com ])
Puget Ventures Inc. is a TSX Venture Exchange listed mineral exploration company that controls the Werner Lake Mineral Belt, including the advanced stage Werner West Cobalt deposit, one of Canada's only primary cobalt properties, located in Northwestern Ontario. Puget is also currently exploring the Trout Bay copper-zinc property in Red Lake, Ontario.

Cautionary Statement on Forward-Looking Information: The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The shares offered will not be and have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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.