Paragon and Crosshair Continue to Intersect High-Grade Gold at Jaclyn Main Deposit

Paragon Minerals Corporation (TSX VENTURE:PGR) ("Paragon") reports additional
results from its partner-funded diamond drill program at the Golden Promise JV
Gold Project, located in central Newfoundland, Canada. Paragon's joint venture
partner, Crosshair Exploration & Mining Corp. (NYSE Amex:CXZ) (TSX:CXX)
("Crosshair") has completed the planned 36-hole (7,220 metre) diamond drill
program. Highlights from the program include:




--  Near surface vein zone continuity demonstrated in the central portion of
    the Jaclyn Main Deposit with high-grade gold assays up to 129.1 grams
    per tonne (g/t) gold (3.76 oz/ton) over 0.3 metres;
--  Jaclyn Main Deposit extended 150 metres east of the current NI43-
    101compliant resource estimate.



Jaclyn Main Deposit - Central Zone

Twelve shallow infill drillholes (641.1 metres, all NQ-size drillholes) were
completed at approximately 25-metre spacing over a 300-metre strike length in
the central portion of the Jaclyn Main Deposit. Each drillhole intersected the
gold-bearing vein zone over widths of 0.16 to 8.45 metres, with ten of the
twelve drillholes containing visible gold (3 to 86 gold grains). Assay
highlights include:




--------------------------------------------------------------------------
Drillhole         From (m)         To (m)      Interval (m)     Grade (g/t)
--------------------------------------------------------------------------
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GP10-102            12.70          13.20              0.50            19.9
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GP10-114            28.00          28.85              0.85            11.1
Including           28.00          28.40              0.40            18.9
And                 52.85          53.45              0.60            78.1
Including           53.15          53.45              0.30           129.1
--------------------------------------------------------------------------
GP10-115            23.60          25.88              2.28             6.1
Including           25.08          25.88              0.80            16.7
Including           25.08          25.38              0.30            34.2
--------------------------------------------------------------------------
GP10-116            31.42          36.00              4.58             3.9
Including           35.00          36.00              1.00            12.9
Including           35.70          36.00              0.30            32.7
--------------------------------------------------------------------------
GP10-126            29.27          29.73              0.46            20.8
--------------------------------------------------------------------------
--------------------------------------------------------------------------



The infill drilling has demonstrated the quartz-vein zone continuity in the
upper portion of the Jaclyn Main Deposit and the variable nature of the gold
grade between drillholes. Two of the infill drillholes (GP10-116 and GP10-117)
intersected the quartz vein zone within 10 metres of two, previously completed,
larger diameter (HQ) drillholes (GP02-01 and GP02-05). Comparison of the assay
results between the two-infill drillholes and the two larger diameter drillholes
provides evidence that the larger sample size yields a higher assay grade.


Drill core samples from the 12 infill drillholes and from 6 previously completed
drillholes (GP02-01, 05, 06, 11, 17 and GP03-24) have been submitted to SGS
Lakefield Research Limited for preliminary metallurgical testing including
gravity separation, flotation and determination of the cyanide leaching
characteristics. Metallurgical results are pending.


Jaclyn Main Deposit - East Extension

A total of 15 drillholes (4,577 metres) were completed on the eastern extension
of the Jaclyn Main zone. The drilling has extended the gold-bearing quartz vein
zone 150 metres to the east of the currently defined NI43-101 compliant
resource. Significant assays from the drilling include 19.9 g/t gold over 1.6
metres (GP10-121) (see news release dated April 8, 2010) and 5.77 g/t Au gold
over 1.15 metres (GP10-131). The Jaclyn Main Deposit now extends over a
950-metre strike length and to a depth of 415 metres (GP10-130). The zone
remains open along strike and to depth.


Assays, drill plans and sections for the Golden Promise JV Project are available
on the Paragon website.


Following the drill program and after detailed review of the exploration data
and metallurgical results, Crosshair and Paragon plan to conduct a surface bulk
sampling program. The bulk sample is aimed at providing a more representative
gold grade, testing structural and grade continuity and mining/milling
characteristics for the Jaclyn Main Deposit. The 2010 exploration programs are
being funded by Crosshair as part of the 2009 Joint Venture Agreement (see
Paragon News Release dated April 9, 2009). Paragon retains a 40% interest in the
Golden Promise JV Gold Project.


About Paragon Minerals Corporation

Paragon Minerals Corporation is a Canadian-based mineral exploration company
focused on gold and base-metal exploration in eastern Canada. Paragon's flagship
base metal project is the 100%-owned South Tally Pond VMS project where it has
made a significant precious metal-rich massive sulphide discovery in a proven
mining district in central Newfoundland. Paragon is also exploring an
exceptional portfolio of gold properties through both company and partner-funded
exploration. For more information on Paragon and its properties, please visit
the website at www.paragonminerals.com.


PARAGON MINERALS CORPORATION

Michael J. Vande Guchte, President & CEO

Qualified Person and QA/QC - Exploration work on the Golden Promise JV Project
is being carried out by Barry Sparkes, Consulting Geologist to Crosshair and
supervised by Stewart Wallis, P.Geo., a member of the Professional Engineers and
Geoscientists of BC, the President and CEO of Crosshair and a Qualified Person
as defined by NI 43-101. Mr. Wallis has verified that the assay results
presented above have been accurately summarized from the official assay
certificates provided to Crosshair. True widths of the reported intercepts vary
depending on the angle of the individual drill holes and are estimated to be
between 50% and 85% of the core interval as reported. Assay composites are
reported uncut. All assay samples were prepared from sawn NQ-sized half-core
sections on site in Newfoundland. Samples were shipped to Accurassay
Laboratories prep facility in Gambo, Newfoundland and assayed at their Thunder
Bay, Ontario laboratory using standard fire assay methods on a 50-gram sample
with an AA finish. Samples that contain visible gold are automatically assayed
using the metallic screen method. All samples that assay over 1g/t gold are also
rerun using the metallic screen method. Standards, blanks and duplicate assays
are included at regular intervals in each sample batch submitted from the field
as part of an ongoing QA/QC program. Gold standards were prepared by CDN
Resource Laboratories Ltd., of Delta, BC and certified by Licensed Assayer
Duncan Sanderson.


Forward-looking statements - This news release contains certain statements that
may be deemed "forward-looking statements". All statements in this release,
other than statements of historical fact, that address events or developments
that Paragon expects to occur, are forward looking statements. Forward-looking
statements are statements that are not historical facts and are generally, but
not always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and similar
expressions, or that events or conditions "will", "would", "may", "could" or
"should" occur. Forward-looking statements in this document include statements
regarding current and future exploration programs, activities and results.
Although Paragon believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results may differ materially from
those in forward-looking statements. Factors that could cause the actual results
to differ materially from those in forward-looking statements include market
prices, exploitation and exploration success, continued availability of capital
and financing, inability to obtain required regulatory or governmental approvals
and general economic, market or business conditions. Investors are cautioned
that any such statements are not guarantees of future performance and actual
results or developments may differ materially from those projected in the
forward-looking statements. Forward-looking statements are based on the beliefs,
estimates and opinions of Paragon's management on the date the statements are
made. Paragon undertakes no obligation to update these forward-looking
statements in the event that management's beliefs, estimates or opinions, or
other factors, should change. These statements are based on a number of
assumptions, including, among others, assumptions regarding general business and
economic conditions, the timing of the receipt of regulatory and governmental
approvals for the transactions described herein, the ability of Paragon and
other relevant parties to satisfy stock exchange and other regulatory
requirements in a timely manner, the availability of financing for Paragon's
proposed transactions and exploration and development programs on reasonable
terms and the ability of third-party service providers to deliver services in a
timely manner. The foregoing list of assumptions is not exhaustive. Events or
circumstances could cause results to differ materially.


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