Paragon Minerals Corporation - Amendment To Warrant Term

TSX Venture Exchange Symbol: PGR  
Shares Issued: 60,649,254

VANCOUVER, Aug. 16, 2012 /CNW/ - Paragon Minerals Corporation (TSX-V: PGR; "Company") reports that the Company has applied to extend the term of the 7,914,500 warrants exercisable at $0.20 per share from December 3 2012 to June 3, 2014.  The amendment to the warrants is subject to TSXV approval.

PARAGON MINERALS CORPORATION

"Michael Vande Guchte"

_______________________________

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."

SOURCE: Paragon Minerals Corporation

For further information:

please visit the company website or contact Michael Vande Guchte at (604) 629-2353