PGS Paget Minerals Corp.

Paget Minerals Corp. (TSX VENTURE:PGS) ("Paget") announces that it intends to
raise $199,999.98 by way of a non-brokered flow-through private placement. The
private placement will consist of the sale of 1,111,111 flow-through shares at a
subscription price of $0.18 per flow-through share. 


Insiders of Paget will acquire 100% of the flow-through shares issued under the
private placement. Such participation is considered a related party transaction
as defined under Multilateral Instrument 61-101 ("MI 61-101"). The private
placement will be exempt from the formal valuation and minority shareholder
approval requirements of MI 61-101, as neither the fair market value of the
flow-through shares issued to nor the consideration paid by such insiders will
exceed 25% of Paget's market capitalization.


The gross proceeds will be used for exploration on Paget's Ball Creek Project in
the Golden Triangle, BC. All securities issued pursuant to the private placement
will be subject to a hold period of four months and one day from the date of
issuance of the securities, pursuant to applicable securities legislation and
the policies of the TSX Venture Exchange. Closing of the placement is subject to
all required regulatory approvals, including the acceptance of the TSX Venture
Exchange. 


About Paget Minerals Corp. 

Paget Minerals Corp. is a publicly traded resource company focused on mineral
exploration and the advancement of the company's priority Ball Creek Project in
British Columbia. The company hosts a 52,442-hectare, contiguous mineral tenure
package in the Golden Triangle - Iskut Mineral District located just 8km west of
Highway 37 and only 36km northwest of the new Northwest Transmission Line
Substation at Bob Quinn and neighbors three major mine development projects in
the Golden Triangle -- Galore Creek, Schaft Creek and Red Chris. In 2012, Paget
will focus its BC exploration program on the Ball Creek Project, as well as
advancing its exploration in Mexico. Paget also maintains its equity position in
Trident Gold Corp. exploring for gold in Colombia. David Volkert, President and
CEO, serves as the Qualified Person under the definitions of NI 43-101. 


On Behalf of the Board of Paget Minerals Corp.,

David F. Volkert, President & CEO

Paget Minerals Corp. (TSXV:PGS)
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