PGS Paget Minerals Corp.

Paget Minerals Corp. (TSX VENTURE:PGS) ("Paget" or the "Company") announced
today the early completion of optional work commitments and the acquisition of a
100% undivided interest in the 52,442-hectare Ball Creek Gold-Copper Project
(the "Project") in northwestern British Columbia. Acquisition is subject to a 2%
Net Smelter Returns Royalty in favour of Pembrook Mining Corp., one-half of
which can bought by Paget for $1,000,000.


David F. Volkert, President and CEO of Paget, stated, "In addition to completing
required work commitments 2 years ahead of schedule, the accumulated exploration
credits result in eliminating Paget's holding costs for the core claims at Ball
Creek until 31 December 2022."


The Ball Creek Project may be the next in what are a series of large gold-copper
porphyry deposits that characterize this region of northwestern BC. Ball Creek
is ideally suited for development given it is located eight kilometres from a
paved highway and air strip and thirty-six kilometers from power. Results of the
multi-faceted programs that have been completed on the project to date are now
being integrated into comprehensive geological and exploration models.


Drilling on the Main gold-copper porphyry target in 2012 was highlighted by Hole
BC12-54 that drilled to a depth of 310.1 metres and returned 0.44 g/t gold and
0.15% copper over its entire length including 0.50 g/t gold and 0.24% copper
over 102.0 metres (see news release dated October 11, 2012). Mineralization in
Hole BC12-54 is open to the southwest on trend to the Cliff copper-gold porphyry
target where stockwork veining coincident with a magnetic low measuring 1,700 x
400 meters assays up to 0.74% copper and 0.15 g/t gold.


For a complete table of 2012 drill results, please click:
http://www.pagetminerals.com/i/pdf/Summary_Intervals_2012-10-09.pdf


To view maps and cross sections with 2012 drilling at Main Zone, please click:
http://www.pagetminerals.com/i/pdf/1-main-target-geol-NR-oct12.pdf


Acquisition of the Ball Creek claim block is subject to a 2% Net Smelter Returns
Royalty in favour of Pembrook Mining Corp., one-half of which can bought by
Paget for $1,000,000, and two payments of $2,000,000 each upon definition of a
compliant Inferred Mineral Resource of not less than 1,000,000 ounces of gold or
gold-equivalent and completion of a Positive Feasibility Study.


About Paget Minerals Corp.

Paget Minerals Corporation is a publicly traded resource company focused on
mineral exploration and the advancement of its Ball Creek Project in British
Columbia, as well as the San Ricardo Project in Sonora, Mexico. Ball Creek
comprises of 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.
Ball Creek neighbors three major mine development projects in the region --
Galore Creek, Schaft Creek and Red Chris. Paget is also focused on its San
Ricardo Project and has an option to earn up to 60% of the 38,100-hectare
project located within the prolific porphyry and epithermal gold-silver-copper
belt of northern Sonora State, Mexico, from Sundance Minerals Ltd. 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

FOR FURTHER INFORMATION PLEASE CONTACT: 
Paget Minerals Corp.
David Volkert
President & CEO
(778) 327-4449
(778) 330-5492 (FAX)
www.pagetminerals.com

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