Paget Commences Exploration Program at Ball Creek Gold-Copper-Silver Project in BC

Paget Minerals Corp. (TSX VENTURE:PGS) ("Paget" or the "Company") is pleased to
announce the start of the 2012 exploration program within Paget's 100% owned
Ball Creek Project located in northwestern British Columbia's Golden Triangle
region. Paget and Blue Gold Mining Inc. (TSX VENTURE:BGX) ("Blue Gold") recently
signed a Definitive Agreement whereby Blue Gold has the option to earn up to a
65% majority interest in a portion of the Ball Creek Project from Paget Minerals
Corp. (see Paget news release dated June 26, 2012). The Definitive Agreement
remains subject to final TSX Venture Exchange acceptance. 


David F. Volkert, President and CEO of Paget, stated, "The 2012 exploration
program consists of drilling by Blue Gold and reconnaissance mapping and
sampling by Paget. Both programs follow up on historic work and, together,
consist of the first integrated and focused exploration completed on the Ball
Creek project to date."


BLUE GOLD DRILLING

Blue Gold's 2012 drilling program will focus primarily on testing the Main
Target, a 1,400 metre by 500 metre zone of gold-copper mineralization associated
with monzonite porphyry bodies. A total of 43 holes, averaging only 180 metres
in length, have tested the gold-copper mineralization to a maximum depth of 350
metres from surface and have shown that significant gold-copper mineralization
persists over 700 metres of vertical relief. Mineralization remains open in all
directions and is hosted in late Triassic/early Jurassic monzonite and
monzodiorite porphyry bodies that intrude Upper Triassic Stuhini Group mafic
volcanic and sedimentary rocks. Alteration and mineralization are similar in
nature to other porphyry systems in the region and are characterized by
disseminated and veinlet-hosted chalcopyrite, pyrite and magnetite associated
with phyllic and potassic alteration, and overprinted by quartz stock work
veining. 


The $2.3 million exploration program will include a minimum of 5,000 metres of
diamond core drilling, geophysical surveying (airborne magnetics and ground IP),
geological mapping, and geochemical sampling. Field crews mobilized to the
project site in late June and full-scale operations with two drill rigs are now
underway. The program is expected to take two months to complete.


To view a map of the Paget-Blue Gold option property, please click: 
http://www.pagetminerals.com/i/maps/BallCreek/BallCreekPropertyMap-0712.jpg

To view a cross section of the Main Target, please click: 
http://www.pagetminerals.com/i/maps/BallCreek/BallCreekCrossSection-0712.jpg

PAGET RECONNAISSANCE

Historic work provides starting points for more detailed surface sampling at the
Mess Creek and More Creek targets, which initially defined large zones of
gold-copper mineralization with highs to 0.91% copper in More Creek and 0.38%
copper, 0.56 g/t gold and 0.5% molybdenum at Mess Creek. Limited drilling in
both target areas returned anomalous results.The epithermal Valley, HP and Rojo
Grande targets have never been drilled and host quartz-sulfide veins with
anomlaous to 21 g/t gold and 1,200 g/t silver. 


PROJECT OVERVIEW

The Ball Creek Project covers 524 km2 central to the renowned Golden Triangle
mineral region in the Iskut area of northwest British Columbia (the "Golden
Triangle"). This region is host to the large disseminated copper-gold
porphyry-style deposits of Galore Greek (Teck/NovaGold) and Red Chris (Imperial
Metals), the precious metal-enriched VMS-style Eskay Creek deposit (Barrick),
and the high-grade epithermal gold at the Valley of the Kings Zone at the
Brucejack project (Pretium Resources).


Despite its prolific mineral endowment, the Golden Triangle has remained
relatively underexplored in the past due to a lack of infrastructure and
fractural ownership. This scenario changed in 2009 when the British Columbia and
Canadian federal government approved the construction of the Northwest
Transmission Line ("NTL"), a 344 km, 287 kV high-voltage power line that will
run through the region (slated for completion in 2014). The Ball Creek project
is located only 38 kilometres north of the planned NTL power substation at the
community of Bob Quinn, and eight kilometres west of Highway 37 and the adjacent
Burrage air strip, making it one of the most accessible properties in the
region. Infrastructure and logistics are considered to be ideally suited to
support any future mining operation in this area.


The Ball Creek Project hosts five highly prospective gold-copper porphyry
targets (Main, Cliff, Rainbow, Mess Creek, More Creek) and four epithermal
gold-silver targets (Ridge, Valley, HP, Rojo Grande). 


To view a map of the region, please click:
http://www.pagetminerals.com/i/maps/BallCreek/Ball-Creek-Project-Overview.jpg 


About Paget Minerals Corp.

Paget Minerals Corporation is a publicly traded resource company focused on
mineral exploration and the advancement of the company's priority Ball Creek
Project in British Columbia. The company hosts 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 and neighbors three major mine
development projects in the Golden Triangle - Galore Creek, Schaft Creek and Red
Chris. In 2012, Paget will focus its BC exploration program on the Ball Creek
Project, as well as advancing its exploration in Mexico. Paget also maintains
its equity position in Trident Gold Corp. exploring for gold in Colombia. 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
Paget Minerals Corp. (TSXV:PGS)
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