Paramount Gold and Silver Corp.

Paramount Gold and Silver Corp.

March 24, 2008 21:00 ET

Paramount Gold and Silver Corp. Update on SEC Temporary Suspension

OTTAWA, CANADA--(Marketwire - March 24, 2008) - Paramount Gold and Silver Corp. (AMEX:PZG)(TSX:PZG)(the "Company") continues to review the allegations of the Securities and Exchange Commission ("SEC") with respect to the temporary suspension in trading of the Company's shares of common stock in the United States. Further to the Company's news release of March 17, 2008, the Company has been made aware of certain documents that are not in the Company's control or possession, regarding the manner in which certain parties obtained the CUSIP number in 2005. The Company is cooperating with the SEC to resolve the matter.

Pursuant to the order issued by the SEC, the trading suspension in the United States terminates at 11:59 p.m. E.T on March 27, 2008.

"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
    Paramount Gold and Silver Corp.
    Chris Halkai
    Corporate Relations