Paget Minerals Corporate Update

Paget Minerals Corp. (TSX VENTURE:PGS) ("Paget" or the "Company") announces that
it has granted a total of 775,000 incentive stock options (the "Options") to
directors and officers of the Company. The Options are exercisable at $0.15 per
share for a period of five years from the date of grant and vest on the basis of
50% upon the date of grant and 50% upon the first anniversary of the date of
grant. The Options were granted pursuant to the Company's shareholder-approved
stock option plan and are subject to the policies of the TSX Venture Exchange
and any applicable regulatory hold periods. 


The Company also announces that, effective December 1, 2012, it has extended its
marketing services agreement with NV Marketing Ltd. ("NVM") of Vancouver,
pursuant to which NVM provides strategic marketing consulting services to the
Company, for a further one year term. NVM was founded by Nichola Vermiere and
specializes in marketing and branding services to raise awareness amongst
prospective investors and the investment community. Paget will pay NVM a monthly
fee of $4,000 for professional services and will grant to NVM 100,000 options to
purchase common shares in Paget at a price of $0.15 per share. The options will
vest as follows: 25% on the date of grant, 25% on the date that is three months
after the date of grant, 25% on the date that is six months after the date of
grant, and 25% on the date that is 12 months after the date of grant. Paget will
also reimburse NVM for pre-approved expenses. Except for the marketing services
agreement and the options to be granted pursuant thereto, Paget is not aware of
NVM having any other interest, directly or indirectly, in Paget or its
securities, or any right or intent to acquire such interest.


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 focused its BC exploration program on the Ball Creek
Project and advanced 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

FOR FURTHER INFORMATION PLEASE CONTACT: 
Paget Minerals Corp.
David Volkert
President & CEO
(778) 327-4449
(778) 330-5492 (FAX)
www.pagetminerals.com

Paget Minerals Corp. (TSXV:PGS)
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