Paget Minerals Corp.

Paget Minerals Corp.

March 22, 2010 16:30 ET

Paget Minerals Commences Work at Lac Doda, Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 22, 2010) - Paget Minerals Corp. (TSX VENTURE:PGS) ("Paget" or the "Company") today announced that the Company has commenced first-phase exploration at its 100% owned Lac Doda project in the Abitibi Belt, Quebec. Paget holds 2,520 hectares of claims along a 17 kilometer length of a major fault break south of and parallel to the Casa Berardi Break.

Ground magnetic and Induced Polarization (IP) surveys (16 line-kilometres) were recently completed on the eastern part of the claim block centered on a 1987 Esso Minerals Canada drill hole. The Esso drill hole intersected altered volcanics, gabbro and quartz porphyry with anomalous gold from 11 to 123 metres downhole. Gold values in this interval range from <1 to 2,400 ppb (parts per billion) including separate intervals of 1.2 g/t (grams per tonne) over 1.5 metres and 2.4 g/t over 1.24 metres.

Evaluation of the results of the geophysical survey is in progress. It is anticipated that the geophysics will provide better definition of regional airborne magnetic anomalies that delineate dominant east-west structures as well as define zones of higher chargeability associated with the alteration intersected in the 1987 drilling.

Follow-up drilling (750m) will focus on targets identified from the geophysical survey with drill results anticipated by the end of April 2010.

The Qualified Person as defined by National Instrument 43-101 responsible for the technical content of this press release is David F. Volkert, AIPG, President & CEO for Paget.

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.

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.

Contact Information

  • Paget Minerals Corp.
    David Volkert
    President & CEO
    (778) 327-4449
    (778) 327-6546 (FAX)