Puget Ventures Inc. Provides Clarifying Updates on Technical Disclosure

PUGET VENTURES INC. ("Puget") (TSX VENTURE:PVS) announced today that as a result
of a review by the British Columbia Securities Commission (the "BCSC") we are
issuing the following news release to clarify our previous disclosure.


In anticipation of the Puget Ventures short form prospectus filing, the Company
voluntarily requested the BCSC to conduct a pre-filing review of all previous
technical disclosure. 


Timely Disclosure: 

In a release dated December 10, 2009, the Company announced that PG&E Mining
Consultants was tenured to produce updated resource estimates for the Werner
Lake property. Since that time, PG&E Mining Consultants changed its name to "AGP
Mining Consultants". The Company had requested that AGP Mining Consultants
("AGP") temporarily halt all work in order to preserve the capital necessary to
complete the Company's proposed acquisition of Pafra Enterprises Company Limited
("Pafra"), previously described in a news release dated June 29th, 2011. As
such, the Company has had no results to disclose. Also, as further clarification
to the previous release, the Company still intends on having AGP finalize the
resource estimate in the future and that the cessation of the work being
conducted is temporary.


A revised NI 43-101 compliant technical report regarding the Company's Werner
Lake Mineral Belt properties, prepared by Gerald Harper, Ph.D., P.Geo (ON), is
now available under the Company's profile on SEDAR. The revised technical report
includes a recommended two-phase work program, which is contingent on the
successful completion of AGP's resource estimate. At this time, the Company
intends to commence Phase 1 of the recommended work program upon completion of
the AGP resource estimate, described above. The Company will provide further
updates upon completion of the AGP resource estimate.


Non-Compliant Disclosure of Resource/Reserve Estimates: 

The Company has reviewed its website and its previous news releases and MD&A in
order to ensure that all continuous disclosure meets the requirements of NI
43-101, both now and going forward. 


The Company's website and/or promotional material previously included the
following non-compliant and misleading disclosure.




--  The Company's "Global Cobalt" corporate brochure erroneously disclosed
    resources for the Norpax Deposit that are contrary to s. 2.2. and 3.4 of
    NI 43-101; 
--  The resource section of the website erroneously included inferred
    resources to the other resource categories, contrary to s. 2.2 (c) of NI
    43-101; 
--  The Company's MD&A dated March 28, 2011 for the interim period ended
    January 31, 2011 also erroneously adds inferred resources to other
    resource categories, contrary to s. 2.2 (c) of NI 43-101; and 
--  The Company's corporate brochure reports historical estimates for the
    Karakul Property without providing the information required by s. 2.4 of
    NI 43-101 with respect to historical estimates. 



The Company has removed its "Global Cobalt" corporate brochure from its website
and will not re-post it on the website until all disclosure contained therein
meets the requirements of NI 43-101.


Prohibited Disclosure of Potential Exploration Targets: 

The Company has removed the "Global Cobalt" corporate brochure from its website
which disclosed potential exploration targets for the Karakul Property, contrary
to s. 2.3 of NI 43-101, and will not re-post it until all disclosure contained
therein meets the requirements of NI 43-101. The Company refers the reader
instead to the NI 43-101 technical report with respect to the Karakul Property,
prepared by SRK Consulting (Canada) Inc., a copy of which is available under the
Company's profile on SEDAR.


Inconsistent and Misleading Disclosure: 

In its previous disclosure, the Company erroneously combined reserves and
resources in a manner that was potentially misleading because the disclosure did
not report the grade and tonnage of each individual resource/reserve category
separately. The Company will ensure that all continuous disclosure going forward
will be consistent and clear. 


The Company's website and corporate presentation report will be revised to
ensure that any reserves or resource estimates disclosed will also report grade
and tonnage of each individual category separately.


About Puget Ventures Inc. (www.pugetventures.com)

Puget Ventures Inc. is a Vancouver, Canada-based mineral-resource exploration
company focused on the acquisition, exploration and development of strategic
base metals properties, with a focus on cobalt. Puget Ventures' package of
properties encompasses historic deposits and past Cobalt and Nickel-Copper-PGE
producers, including the Werner Lake Mineral Belt located in North-western
Ontario, Canada. On December 6, 2010, Puget announced a definitive agreement to
acquire the Karakul and other mineral projects in Russia and Mongolia subject to
Exchange and shareholder approval.


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.
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