Paget Minerals Corp.

Paget Minerals Corp.

November 24, 2011 12:57 ET

Paget Minerals Appoints Zacharias and Allman as CFO & Corporate Secretary

Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 24, 2011) - Paget Minerals Corp. ("Paget") (TSX VENTURE:PGS), ("Paget" or the "Company") today announced the appointment of Bernie Zacharias as Chief Financial Officer and David Allman as Corporate Secretary of Paget Minerals Corp. effective December 1, 2011.

In addition, the Company reports the resignations of April Hashimoto, Chief Financial Officer and, Brian Booth, Director so that they can focus their efforts to Pembrook Mining Corp., as that company accelerates the advancement of its exploration property portfolio in Peru and Mexico. The Company also reports the resignation of Paul Simpson, Corporate Secretary.

Mr. Zacharias is a managing partner, founder and director of Avisar Chartered Accountants since 2004 and has recently acted as CFO of several TSX Venture Exchange listed companies. Mr. Zacharias is a member of the Institute of Chartered Accountants of British Columbia and brings significant experience in corporate finance with publicly listed junior resource companies.

Mr. Allman is a partner at Edwards, Kenny & Bray LLP ("EKB") and a member of its mining group. Mr. Allman has a corporate and commercial law practice, with an emphasis on mining law, business law and commercial real estate law. He regularly advises senior, mid-tier and junior mining clients on domestic and international mineral resource property transactions, as well as advising on a range of corporate, commercial and securities matters. He has been involved in numerous transactions involving a wide range of jurisdictions in Canada, Latin America, Africa and Eurasia. He holds a B.Comm. and a law degree from the University of British Columbia. Mr. Allman was called to the British Columbia Bar in 1988.

David Volkert, President & CEO said: "On behalf of the board of directors of Paget I would like to congratulate Bernie and David on their appointments and wish them every success in their new roles. I also extend our sincere appreciation and thanks to April, Brian and Paul for their valuable contribution during the company's early stages of development."

The Company's board of directors has granted 100,000 incentive stock options to Mr. Zacharias on his appointment as CFO. Mr. Allman, who is also legal counsel to the Company, is precluded from receiving stock options due to EKB's conflict of interest policy. The incentive stock options are exercisable for up to five years at a price of $0.25 per share. The options were granted pursuant to the Paget Minerals Corp. shareholder-approved stock option plan and are subject to any applicable regulatory hold periods.

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 drill projects in B.C. including Ball Creek, Chist Creek, Icy Lake and Fae.

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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