| News Release |
March 29, 2012 |
Paget Outlines 2012 Exploration Program For The Ball Creek Project, Golden Triangle - Iskut Mineral District, BCVancouver, British Columbia -- March 29, 2012, Paget Minerals Corp. (TSX-V: PGS), ("Paget" or the "Company") today announced its 2012 exploration plans for the Ball Creek Project located in the prolific Golden Triangle -- Iskut Mineral District, northwest BC.
The Ball Creek Project covers over 520 square kilometers (52,442 hectares) of contiguous mineral claims and hosts five gold-copper-molybdenum porphyry targets and four gold-silver epithermal targets. Located just eight kilometers west of Highway 37 and the Burrage Airstrip, and 36 kilometers northwest of the new Northwest Transmission Line Substation at Bob Quinn, the Ball Creek Project lies central to, and is the most accessible of, all the Iskut District's current reserves/resources, including:
- Galore Creek - 528Mt @ 0.6% Cu, 0.32g/t Au - Proven & Probable (Teck/Novagold),
- Red Chris - 446Mt @ 0.36% Cu, 0.29g/t Au - Measured & Indicated (Imperial Metals), and
- Schaft Creek - 821Mt @ 0.25% Cu, 0.18g/t Au - Proven & Probable (Copper Fox Metals) (click here for location map).
Exploration in 2012 will include grid-drilling to begin delineating a resource at the Main Gold-Copper Porphyry (historical drill intersections of up to 195m @ 0.75g/t Au and 0.22% Cu -- see press release dated January 12, 2012), follow-up the 2011 Rainbow Gold Porphyry discovery (drill intersection of 91m @ 0.76g/t Au -- see press release dated January 12, 2012) and the first drilling on the Valley Gold-Silver epithermal target (historical surface sampling of up to 21g/t Au and 1,200g/t Ag from quartz-sulfide veins).
Mapping and sampling will also be completed on the Cliff Copper-Gold, Mess Creek Copper-Gold-Molybdenum and North More Copper-Gold porphyries and the Ridge Gold-Silver-Copper, HP Gold and Rojo Grande Gold epithermal targets during the 2012 exploration season.
David Volkert, President and CEO, stated, "The Ball Creek Project represents a high potential project in the Golden Triangle -- Iskut Mineral District. The Project has the right address, multiple targets and has been explored in a piecemeal fashion over its history. Paget will earn an undivided 100% interest in the 52,442-hectare, contiguous claim block with the completion of the 2012 exploration program, subject only to a 2% Net Smelter Royalty, half of which may be purchased by Paget at any time for $1,000,000, and certain subsequent payments (see press release dated 14 April, 2011)."
"The Ball Creek Project lies entirely within Tahltan First Nation territory. The Tahltan Nation, through an historic agreement on the Eskay Creek Mine and the formation of the Tahltan Nation Development Council, has shown itself to be progressive and business-oriented while maintaining strict environmental and cultural protection standards. Over the past year, Paget has contracted Tahltan companies or Tahltan joint venture partners for camp, drilling and helicopter services, directly employing Tahltan Band members and maintains open and informed relations with the Nation."
About Paget Minerals Corp.Paget Minerals Corporation 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
For further information, please contact:
Paget Minerals Corp.
David Volkert, President & CEO Tel: (778) 327-4449
www.pagetminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
You can also view this News Release on our website at:
http://www.pagetminerals.com/s/NewsReleases.asp?ReportID=515213
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