Paget Minerals Signs LOI to Acquire Up to 60% in Sundance Minerals' Gold Properties in Mexico
01 Março 2011 - 11:00AM
Marketwired
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
Neither the 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.
Contacts: Paget Minerals Corp. David Volkert President & CEO
(778) 327-4449 (778) 327-6546 (FAX) www.pagetminerals.com
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