Paramount Gold and Silver Corp.

Paramount Gold and Silver Corp.

May 07, 2008 11:30 ET

Paramount Gold and Silver Corp. to Prepare Resource Estimate

CHIHUAHUA, MEXICO--(Marketwire - May 7, 2008) - Paramount Gold and Silver Corp. (TSX:PZG)(AMEX:PZG)(FRANKFURT:P6G)(WKN:A0HGKQ) has engaged A.C.A Howe International Limited, mining and geological consultants from Toronto, Canada to complete a National Instrument 43-101 compliant resource estimate of its San Miguel project in Mexico. The estimate will include all drill results from inception to date including 'Clavo 99' and from other areas of the San Miguel project. Since its last resource estimate first released in January 2007 Paramount has drilled over 170 holes at San Miguel. This resource estimate is expected to be completed by mid 2008.

About Paramount

Paramount Gold is a precious metals mining exploration company presently in the early stages of an extensive exploration program at their San Miguel project in the Guazapares Mining District, part of the Sierra Madre Occidental gold-silver belt of Mexico. Paramount Gold and Silver Corp. is the operator of the San Miguel project, which is a joint venture with Tara Gold Resources Corp. (OTC:TRGD.PK) (30%) who is required to contribute 30% of exploration costs to maintain their interest.

"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.

Contact Information

  • Paramount Gold and Silver Corp.
    Larry Segerstrom, COO
    Chris Halkai, Corporate Relations