Paget Minerals Corp.
TSX VENTURE : PGS

Paget Minerals Corp.

April 19, 2011 14:22 ET

Paget Minerals Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 19, 2011) -

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 a non-brokered private placement offering (the "Offering") of up to 5.0 million units (the "Common Units"), each consisting of one common share (a "Common Share") of Paget and one whole common share purchase warrant (a "Common Unit Warrant") at a price of $0.23 per Unit.

Each whole Common Unit Warrant will entitle the holder to acquire at any time up to 24 months from the Common Unit Closing Date (as defined herein), one Common Share of Paget at an exercise price of $0.35 per Common Share. In the event that the 20-day volume weighted average price of the Common Shares on the TSX-V is greater than $0.35 at any time following the Common Unit Closing Date, the Company may accelerate the expiry date of the Common Unit Warrant by giving notice to the holders thereof and in such case the Common Unit Warrant will expire on the 30th day after the date on which such notice is given by the Company. A finder's fee of $25,000 cash and 250,000 finders warrants exercisable at $0.35 with a 2-year term is payable on a portion of the Offering.

The subscription totals 5.0 million units for proceeds of $1,150,000.

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 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.

About Paget Minerals Corp.

Paget Minerals Corp. is a British Columbia company focused on mineral exploration and the advancement of a diverse range of precious metal and copper projects in British Columbia, Mexico and Colombia, all under active exploration with principal projects in B.C. including Ball Creek, Chist Creek, Icy Lake, Fae and Slam.

On Behalf of the Board of Paget Minerals Corp.,

David F. Volkert, President & CEO

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.

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