January 22, 2013 - Cougar Minerals Corp. - TSX-V: COU ("Cougar" or the "Company") reports that, it has received approval from the TSX Venture Exchange ("TSX.V"), and has closed the second tranche of its previously announced, non-brokered offering of units of the Company's securities of up to 2,652,000 non flow-through units (the "NFT Units"), for 240,000 units for gross proceeds of $36,000. Each NFT Unit will consist of one common share and one common share purchase warrant. Each share purchase warrant will entitle the holder to acquire one additional common share at a price of $0.18 per share for a period of 24 months after closing of the offering.

Cougar plans to continue financing and announces a non-brokered offering of units of the Company's securities of up to 3,333,333 non flow-through units at a price of $0.15 per unit (the "NFT Units"). Each NFT Unit will consist of one common share and one common share purchase warrant. Each share purchase warrant will entitle the holder to acquire one additional common share at a price of $0.18 per share for a period of 24 months after closing of the offering.

The offering may be subject to regulatory approval and all shares and any shares issued on exercise of the warrants are subject to restrictions on transfer for a period of four months from the closing of the offerings.

The Company may pay finder's fees in accordance with the policies of the TSX Venture Exchange.

The proceeds from the non flow-through offerings will be used for general corporate purposes and will also allow the Company to continue to conduct due diligence on several properties currently under evaluation in the state of Montana.

The Company also wishes to announce that J. Christopher Grove has resigned as Director of Cougar Minerals Corp. in order to pursue other opportunities. Cougar Minerals wishes to thank Mr. Grove for his past contributions and wishes him well in his future endeavors. As a result Cougar Minerals incentive stock options in the amount of 30,000 have been cancelled.

COUGAR MINERALS CORPORATION

s/ "Max Polinsky"

Max Polinsky

Chief Financial Officer

For more information, please contact:

Cougar Minerals Corporation

Max Polinsky, CFO/Secretary

(204) 989-2434

www.cougarminerals.com

The TSX Venture Exchange, nor its Regulation Services Providers (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied in the forward-looking information.