Paget Minerals Corp.
TSX VENTURE : PGS

Paget Minerals Corp.

November 30, 2010 16:21 ET

Paget Minerals Announces Private Placement Offering of Common Shares and Flow-Through Shares

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 30, 2010) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

Paget Minerals Corp. (TSX VENTURE:PGS), ("Paget" or the "Company") is pleased to announce that it has engaged RBC Capital Markets as sole agent in connection with a best efforts private placement offering (the "Offering") of approximately $6.0 million of common shares (the "Common Shares") and approximately $1.0 million of flow-through common shares (the "Flow-Through Shares"). 

The net proceeds received by Paget from the Offering of Common Shares will be used for exploration and development activities and general corporate purposes. The gross proceeds of the Flow-Through Share Offering will be used by Paget to incur Canadian exploration expenses ("Qualifying Expenditures") prior to December 31, 2011. The Company will renounce the Qualifying Expenditures to subscribers of the Flow-Through Shares for the fiscal year ended December 31, 2010.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Closing of the Offering is expected on or about December 21, 2010.

About Paget Minerals Corp.

Paget Minerals Corp. is a British Columbia company focused on mineral exploration and the development of a diverse range of precious metal, base metal and rare earth element projects in North America. Main projects in BC are: Cabin, Mt. Dunn, and Chist Creek.

On Behalf of the Board of Paget Minerals Corp.,

David F. Volkert, President & CEO

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