Paramount Gold Announces Positive Results from Sleeper Waste Dump Drilling

Paramount Gold and Silver Corp.

announced today better-than-expected assay results from a drilling program on three separate waste dumps at its 100% owned Sleeper Gold Project. Preliminary results indicate that the waste dumps could make a meaningful contribution to the Sleeper Project's total mineral inventory. Paramount completed a total of nine vertical large diameter sonic drill holes to collect undisturbed samples for assay and metallurgical testing of the waste dump material. Paramount completed this work as part of its ongoing evaluation of historically mined materials that could be amenable to reprocessing. Drill holes were distributed across the three dumps and drilled to the base of the dump with total depths ranging between 16 meters and 43 meters and averaging 29 meters. Samples were collected on 1 meter intervals, with assays from these samples ranging up to 1.51 g/t Au. The North waste dump returned the most consistent results with drill hole 9 containing 19 meters of 0.60 g/t Au.