NSR Nsr Resources Com Cad1

Sundance Minerals Ltd. ("Sundance" or the "Company") is pleased to announce that
it has entered into an option agreement with Paget Minerals, Corp., whereby
Paget can earn up to a 60% interest in the San Ricardo Gold-Silver Property
("Property") in northern Sonora State, Mexico. The Property is located within
the prolific state of Sonora in the vicinity of numerous porphry, mesothermal
and epithermal gold-silver-copper deposits
(http://www.sundanceminerals.com/s/San_Ricardo.asp).


Chris Osterman, President and CEO of Sundance, stated, "We are pleased to have
Paget as a partner and move the project forward evaluating the multiple targets
identified within the Company's extensive landholdings and drill-test around the
historic San Ricardo mine."


THE PROPERTY:

The Property area covers 37,400 hectares in northern Sonora State. The region
hosts large Cu-Mo porphyry deposits, such as Cananea and Creston, and a number
of mesothermal and epithermal gold-silver deposits, including the San Francisco
(Timmins Gold), Mercedes (Yamana Gold) and Santa Elena (Silver Crest Mines).
Excellent road access provides year-round exploration.


Preliminary reconnaissance within the Property has identified multiple
high-grade targets as well as areas with bulk tonnage potential. Current work
has been focused in the Santa Cruz Target around the inactive San Ricardo Mine,
an area with scores of historic mine workings and small scale leach production,
comprising at least four semi-parallel vein systems. 


Mineralization in the Property occurs as granite-hosted veins, shears,
stockworks, and oxides-coated fractures, with potential for both high-grade
underground and lower-grade open-pit targets. Paget and Sundance have completed
detailed mapping as well as collected 730 samples including underground channel,
surface rock-chip and trench-channel samples at the San Ricardo Project area.
Underground sampling along 300m of the minimum 2km-long Santa Cruz vein show
results from 1.0m @ 0.29 g/t Au, up to 2m @ 46.35g/t Au. Sixty one percent of
the 83 saw-channels cut in mine workings have more than 4g/t Au and average
12.16 g/t Au over 2.54 meters. 


The weighted gold-grade averages of sampling on 8 different levels are:



----------------------------------------------------------------------------
                          Length Sampled             Width          Grade Au
Mine Working                    (meters)          (meters)               g/t
----------------------------------------------------------------------------
975 Sublevel                          14              1.45              1.87
----------------------------------------------------------------------------
975 Tunnel                            54              2.42              5.28
----------------------------------------------------------------------------
935 Superior                          33              1.98             10.82
----------------------------------------------------------------------------
935 Tunnel                            23              2.52              5.54
----------------------------------------------------------------------------
935 Incline                           12              2.04             11.16
----------------------------------------------------------------------------
Abejas Inferior                       20              2.37             12.70
----------------------------------------------------------------------------
Abejas Tunnel                         15              2.62              7.09
----------------------------------------------------------------------------
920 Tunnel                            18              2.91             22.92
----------------------------------------------------------------------------



The vein-structures in the underground workings remain open along strike and at
depth. 


The Santa Cruz vein system merges with the Intermedia and Mina Antigua veins
systems forming a mineralized stockwork. Trench and surface rock-chip sampling
in the stockwork target show values from 0.1g/t Au to 18m @ 0.94g/t Au, 24.3m @
0.50g/t Au, and 6m @ 1.84g/t Au and all samples within an area initially
measuring 150 x 200 meters average 0.72 g/t Au. The topography in the stockwork
trench area and the immediate underground workings is favourable for access and
pit development with subdued, rolling hills and flat open spaces. Locally,
silver values range from anomalous to 452 g/t.


Surface sample results from additional areas within the large San Ricardo claim
block adjacent to current and historic gold placer workings show values to
4.5g/t gold.


TERMS OF THE AGREEMENT:

Paget has an exclusive right to earn an initial 51% interest by incurring
US$500,000 in exploration expenditures by the first anniversary of the closing
date and an additional US$5.0 million in aggregate by the fourth anniversary of
the closing date. Paget also retains an exclusive right to earn an additional 9%
by funding a pre-feasibility study in the three-year period following the 51%
earn-in date.


Once Paget has earned a 60% interest in the Property, the parties shall elect to
participate in the exploration program on a prorated basis or not. In the event
either party dilutes below 10%, it shall be entitled to a 2% Net Smelter Return
royalty ("NSR"). Paget will have the right to purchase 1.5% of the NSR for
US$2.0 million.


Sundance will be the operator during the first 12 months employing its
established technical and logistical support team in Mexico. The operator in the
ensuing years will be determined by Paget. Sundance and Paget plan to commence
drilling of the Santa Cruz target during the last quarter of 2012.


Quality Control:

Chris Osterman is a Qualified Person as defined by National Instrument 43-101
Standards of Disclosure for Mineral Projects and is responsible for the
preparation and verification of the technical information in this release.


About Sundance:

Sundance Minerals is an exploration company currently focusing on precious and
base metal projects in Mexico and the United States. Our mission is to create
and sustain shareholder value by developing a balanced portfolio of exploration
targets in known districts. Sundance has a portfolio of 14 properties in Mexico
and one in Nevada, most of which are available for JV's. Technical information
including geology, geochemistry, and geophysics is available for all of them.
Five out of the 15 properties have historic drill holes. Leading properties are
Miranda and San Ricardo gold projects in Sonora, Los Tamales (Cu) in Sonora, as
well as Geranio and Lachatao gold projects in the Natividad mining district in
Oaxaca, Mexico.


Forward-Looking Statement:

Certain statements in this News Release constitute "forward looking statements"
that reflect the Company's current expectations and projections about its future
results. Information concerning the interpretation of exploration results may
also be considered forward-looking statements as such information constitutes a
prediction of what mineralization might be found to be present if and when a
project is actually developed. Forward-looking statements involve various risks
and uncertainties and are based on certain factors and assumptions. There can be
no assurance that such statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from the Company's expectations include uncertainties relating to
interpretation of drill results and the geology, continuity and grade of mineral
deposits; uncertainty of estimates of capital and operating costs; the continued
participation of Paget in the San Ricardo project, the need to obtain additional
financing to maintain its interest in and/or explore and develop the Company's
other mineral projects; uncertainty of meeting anticipated program milestones
for the Company's mineral projects; and other factors of the mineral exploration
industry more fully described in the Company's Management Discussion & Analysis
of Financial Position and Results of Operations, which is available on SEDAR at
www.sedar.com. The assumptions made in developing the forward-looking statements
include the following: the accuracy of interpretations of exploration results;
the continued participation of Paget in the San Ricardo project, and the
availability of equipment and qualified personnel to advance the San Ricardo
project. Readers are cautioned not to place undue reliance on the
forward-looking statements contained in this news release. Except as required by
law, the Company assumes no obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or any other
reason.

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