Paget Minerals Corp.

Paget Minerals Corp.

January 10, 2011 11:15 ET

Paget Minerals Options Buck Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 10, 2011) - Paget Minerals Corp. (TSX VENTURE:PGS), ("Paget" or the "Company") today announced that it has signed an option agreement with Silver Quest Resources (TSX-V:SQI) ("Silver Quest") whereby Silver Quest can acquire a 100% interest in Paget's Buck property located approximately 185 km southwest of Prince George, British Columbia. 

Silver Quest will pay $25,000 and issue 200,000 common shares of Silver Quest to Paget over a one year period upon receipt of applicable regulatory approvals.

Pursuant to the option agreement, Paget will retain a 100% interest in the properties until the above payment and share issuances are completed. Paget has retained a 1.5% net smelter return ("NSR") royalty on the Property, with Silver Quest having the right to buy back two-thirds of the royalty for a cash payment of $2,000,000 at any time after exercising the option.

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 BC and Colombia. Main projects in BC are: Chist Creek, Cabin, and Mt. Dunn.

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)