PGR Paragon Minerals Corp.

Paragon Minerals Corporation (TSX VENTUER: PGR) (the "Company") reports that on December 30, 2009, subject to regulatory approval and pursuant to its Stock Option Plan, it granted 1,250,000 incentive stock options to Directors, Officers and Employees of the Company. The options are exercisable at a price of CDN$0.155 per share for a period of five years with a vesting period of 18 months from the date of grant.

Paragon Minerals Corporation is a Canadian-based mineral exploration company listed on the TSX Venture Exchange. The Company is focused on base and precious metal exploration in Eastern Canada.

Paragon Minerals Corporation

On behalf of the board,

Michael J. 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."

Contacts: Paragon Minerals Corporation Michael Vande Guchte President & CEO (604) 629-2353 Paragon Minerals Corporation Bill Cavalluzzo VP Investor Relations (604) 629-2353 www.paragonminerals.com