VANCOUVER, BRITISH COLUMBIA ("Puma" or the "Company") announces that it has been advised by B2Gold Corp. ("B2Gold") that it did not exercise its option to acquire 34.7% or 17,935,310 shares of Puma from Kinross Gold Corporation. B2Gold will continue to manage the affairs of the Company until its Annual General Meeting scheduled for June 12, 2008.

On behalf of CONSOLIDATED PUMA MINERALS CORP.

Roger Richer, President and Director

Consolidated Puma Minerals Corp. trades on the TSX Venture Exchange under the symbol CPW.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

The TSX Venture Exchange neither approves nor disapproves the information contained in this News Release.

Contacts: Consolidated Puma Minerals Corp. Ian MacLean Vice President, Investor Relations (604) 681-8371 Consolidated Puma Minerals Corp. Kerry Suffolk Manager, Investor Relations / Finance (604) 681-8371 Website: www.pumaminerals.com

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