Paramount Gold and Silver Corp.

Paramount Gold and Silver Corp.

March 13, 2008 15:59 ET

Paramount Gold And Silver Corp. to Address Temporary Trading Suspension

OTTAWA, CANADA--(Marketwire - March 13, 2008) - The Board of Directors of Paramount Gold and Silver Corp. (TSX:PZG)(AMEX:PZG)(FRANKFURT:P6G)(WKN:A0HGKQ) (the "Company") met today to address the temporary suspension in trading of the Company's shares of common stock today by the United States Securities and Exchange Commission ("SEC"). The suspension was announced in a SEC news release today which states that trading will be suspended until 11:59 p.m. E.T. on March 27, 2008. As a result of the SEC's actions, the Company's shares have been temporarily suspended for trading on AMEX.

Market Regulation Services Inc., on behalf of the Toronto Stock Exchange ("TSX"), in consultation with the Company, have imposed a temporary halt in the trading of the Company's stock today pending issuance of this news release at which time trading of the Company's shares is expected to resume on the TSX.

Mr. Christopher Crupi, the Company's chief executive officer and a board member stated: "We do not believe that the SEC's allegations contained in the press release accurately reflect the corporate history of the Company. We intend to immediately address the SEC's concerns regarding both our corporate status and operating history." Mr. Crupi also noted that: "There is no known relationship or affiliation between Paramount and the other companies identified in the SEC's release."

"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.

The Toronto Stock Exchange has not reviewed and therefore does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Paramount Gold and Silver Corp.
    Christopher Crupi, CEO