Paramount Gold and Silver Corp. AMEX : PZG FRANKFURT : WKN:A0HGK TSX : PZG

March 17, 2008 09:30 ET

Paramount Gold and Silver Corp. Responds to SEC

OTTAWA, CANADA--(Marketwire - March 17, 2008) - Paramount Gold and Silver Corp. (TSX:PZG)(AMEX: PZG) (FRANKFURT:P6G)(WKN:A0HGKQ) - Christopher Crupi, CEO, is pleased to announce that today Paramount has responded to inquiries from the American Stock Exchange and the SEC regarding the temporary trading halt in the USA. Paramount disputes all allegations made in the SEC order. Management is working expeditiously to resolve the matter to the satisfaction of all regulatory bodies.

Trading of PZG common stock continues on the Toronto Stock Exchange. Business operations continue in the ordinary course as the San Miguel project in Mexico continues to be developed into a producing resource.

The investor call is scheduled for 1:15 pm EDT on Tuesday March 18, 2008 (see press release (http://www.paramountgold.com/news/press_release.asp?ID=100103) from Thursday, March 13th, 2008 for call details).

"Safe-Harbor" Statement: This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company may not be realized. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially.