Paragon Minerals Corporation (TSXV : PGR) is a Canadian-based mineral exploration company focused on base-metal and gold exploration in stable, mining friendly jurisdictions of Newfoundland and Ontario. 

Paragon’s flagship project is the 100%-controlled South Tally Pond VMS Project located in a proven mining district in central Newfoundland.  The district is host to the past producing world-class Buchans base metal deposits and the currently producing Duck Pond copper-zinc mine operated by Teck Resources Limited.  

The South Tally Pond property covers 261 square kilometres immediately adjacent to Teck Resources Duck Pond Cu-Zn mine and mill complex.  Paragon has made a significant precious metal-rich copper-lead-zinc massive sulphide discovery at the Lemarchant prospect that has an excellent opportunity to develop into an economic resource.  An initial NI43-101 mineral resource estimate was recently completed on the Lemarchant Deposit (see highlights below).  Outside of the Lemarchant area, the exploration potential of the South Tally Pond property is still relatively untapped with numerous priority VMS targets that have seen limited or no drilling.   Paragon is also exploring an exceptional portfolio of gold properties through partner-funded and company-funded exploration programs.

South Tally Pond Project Highlights:

• 74 drillholes totalling 24,277 metres completed at Lemarchant prospect;

• Significant precious metal-rich base metal drill intercepts include:
  • 1.65% Cu, 12.74% Zn, 3.27% Pb, 185.75 g/t Ag and 10.13 g/t Au over 7.0 metres
  • 1.61% Cu, 11.83% Zn, 3.27% Pb, 528.31 g/t Ag and 3.13 g/t Au over 10.3 metres
  • 1.40% Cu, 14.80% Zn, 3.56% Pb, 80.90 g/t Ag and 1.35 g/t Au over 17.05 metres 

• Initial NI43-101 Mineral Resource Estimate completed on the Lemarchant “Main Zone” in January 2012.

• Lemarchant Deposit is defined to 210 metres depth and remains open along strike and to depth.

Gold Project Highlights:

Gold Star Project, Northwest Ontario

• 100%-owned; numerous, under-explored high grade gold prospects in past producing Archean greenstone belt.
• Key gold-bearing deformation zones with newly recognized "fault splay" structures containing gold-bearing quartz vein zones.
• Surface samples up to 276 g/t gold (8.06 oz/ton); Limited historic drilling

Huxter Lane JV Project, Newfoundland

• Bulk tonnage gold target, open for expansion;
• NI 43-101 compliant gold resource:
  • Indicated 11.18 million tonnes averaging 0.546 g/t gold = 196,257 ounces gold
  • Inferred 38.76 million tonnes averaging 0.457 g/t gold = 569,496 ounces gold
• Revised Resource Estimate and metallurgical test work in progress.

ABOUT PARAGON
Paragon Minerals Corporation (TSX-V: PGR) is a Canadian-based exploration company focused on the discovery of world-class gold and base metal deposits in proven and emerging mineral districts.  Paragon strives to create value through discovery on its 100%-owned projects and its partner-funded projects.  Paragon has a significant portfolio of gold and base metal projects in the province of Newfoundland & Labrador, four of which are being explored by joint venture partners.