VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 4, 2013) - Paget Minerals Corp. (TSX VENTURE:PGS), ("Paget") announced today that it has entered into a Purchase and Sale Agreement with Metallis Resources (TSX VENTURE:MTS) to sell 100% of the Mt. Dunn Property covering 1,822 hectares located in northern British Columbia.
David F. Volkert, President of Paget commented: "The sale of the non-core Mt. Dunn Property provides Paget continued exposure to any future discovery on the Property itself, as well as the surrounding 12,000-hectare Kirkham Property, while eliminating our holding costs. Paget remains focused on the recently consolidated Ball Creek Property in BC (see press release dated November 25, 2013) and its exploration program in Sonora State, Mexico."
Paget will receive $15,000 cash and 200,000 shares of Metallis, subject to TSX-V approval (see Metallis press release dated November 29, 2013).
About Paget Minerals Corp.
Paget Minerals Corporation is a publicly traded resource company focused on mineral exploration and the advancement of its Ball Creek Project in British Columbia, as well as the San Ricardo Project in Sonora, Mexico. Ball Creek comprises a 52,442-hectare, contiguous mineral tenure package in the Golden Triangle - Iskut Mineral District located just 8km west of Highway 37 and only 36km northwest of the new Northwest Transmission Line Substation at Bob Quinn. Ball Creek neighbors three major mine development projects in the region -- Galore Creek, Schaft Creek and Red Chris. Paget is also continuing its San Ricardo Project and has an option to earn up to 60% of the 38,100-hectare project located within the prolific porphyry and epithermal gold-silver-copper belt of northern Sonora State, Mexico, from Sundance Minerals Ltd. David Volkert, President and CEO, serves as the Qualified Person under the definitions of NI 43-101.
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.