Paramax Resources Ltd.

Paramax Resources Ltd.

September 15, 2009 14:14 ET

Paramax Announces Share Swap Transaction

CALGARY, ALBERTA--(Marketwire - Sept. 15, 2009) - Paramax Resources Ltd. ("Paramax") (TSX VENTURE:PXM) announces that 5,000,000 common shares of Paramax were sold pursuant to crosses which occurred on the TSX Venture Exchange on September 14, 2009. Two insiders of Paramax sold 1,000,000 shares in the swap. Two other shareholders sold the remaining shares. The proceeds of the swap will be used to purchase shares in the previously announced private placement dated August 26, 2009 which is expected to close on or about September 17, 2009. Insiders of Paramax may also participate in the private placement for amounts greater than the number of swap shares sold.

Neither 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. Trading in the securities of the Corporation should be considered highly speculative.

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