Vancouver, British Columbia – December 7, 2012, Paget Minerals Corp. (TSX-V: 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
Tel: (778) 327-4449
www.pagetminerals.com