Consolidated Puma Signs New Management Services Agreement



    TORONTO, Jan. 26 /CNW/ - Following the expiration of its management
services agreement with B2Gold in December 2008, Consolidated Puma Minerals
Corp. (the "Company") has entered into a new management services agreement
with TerraNova Management Corp. ("TerraNova"), whereby TerraNova will provide
administrative and accounting services for the Company for a monthly fee of
$10,000. The Company's administrative head office has now been relocated from
Vancouver, BC to Toronto, ON.
    In addition to the management contract change, new Officers of the
Company have been appointed. The Company's new CEO is Vahan Kololian, its
Chief Financial Officer is Lee Chung and its Corporate Secretary is Geoff
Gold. The Company's Board of Directors, elected in June 2008, comprises Vahan
Kololian, Geoff Gold, Christopher Westdal and Steve Kay. Brief backgrounds of
the Directors and Officers are provided below:

    Vahan Kololian, CEO, Director - Managing Partner of TerraNova Partners
L.P., a Toronto-based private investment fund focused on private equity as
well as public market investments.

    Lee Chung, CFO - Chartered Accountant. Advisor to TerraNova Partners L.P.

    Geoff Gold, Corporate Secretary, Director - Executive Vice President and
Chief Legal Officer, Kinross Gold Corporation.

    Christopher Westdal, Director - Former Canadian Ambassador to Russia.

    Steve Kay, Director - Geologist. President/CEO of International Minerals
Corporation, a Toronto and Swiss-listed company with precious metal operations
in Peru and Ecuador.

    The Company currently has two assets, a platinum group metals ("PGM")
exploration property in the Kola Peninsula of northwest Russia, and
approximately $4 million of cash. The PGM property is located east of Barrick
Gold Corporation's Federovo Tundra PGM Project.
    The Company has retained Toronto-based investment bank Fraser Mackenzie
to explore corporate opportunities in order to maximize shareholder value.
    The Company's shares trade on the TSX Venture Exchange under the ticker
symbol CPW.

    
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.
    

    %SEDAR: 00006064E




For further information:

For further information: Vahan Kololian, Chief Executive Officer, (416)
644-6000

Organization Profile

CONSOLIDATED PUMA MINERALS CORP.

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