VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2011) - Paget Minerals Corp. (TSX VENTURE:PGS) ("Paget" or the "Company") today announced that it has signed a Letter of Intent ("LOI") with Sundance Minerals Ltd. ("Sundance") to acquire a 60% interest in four of Sundance's gold properties in northern Sonora State, Mexico.
Paget will incur an initial C$300,000 spending commitment over a six month period to evaluate the potential of the properties by trenching, sampling, mapping and possible geophysics to identify drill targets and provide an indication of their potential to host significant gold mineralization.
The four properties are located in proximity to established metal camps of past and producing gold and copper mines.
David Volkert, President & CEO, stated: "This transaction further positions Paget for continued growth and diversification through its approach of strategic investments in gold exploration properties in the Americas Cordillera. Through this acquisition, Paget gains access to northern Sonora State's readily available precious metal potential, and its favorable operating environment. We look forward to working with the team at Sundance."
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 and Colombia. Main projects in B.C. are: Chist Creek, Icy Lake, Fae, Slam and Mt. Dunn.
About Sundance Minerals Ltd.
Sundance Minerals Ltd. is a private exploration company focused on precious metal projects in Mexico. Sundance was founded to discover and explore world class mineral deposits near producing operations with potential under post mineral cover. Both North America and Central Asia have been their areas of operation, based on their management and discovery experience. Their current focus is precious and base metals exploration in Mexico, with the objective of discovering/acquiring deposits with high potential for production.
On Behalf of the Board of Paget Minerals Corp.,
David F. Volkert, President & CEO
Contact Information: Paget Minerals Corp.
David Volkert
President & CEO
(778) 327-4449
(778) 327-6546 (FAX)
www.pagetminerals.com