Paramount Gold and Silver Finds Exceptional Grades and Widths in the Northern Portion of Don Ese Deposit in Mexico

Paramount Gold and Silver Corp.

today reported more high grade assay results from its Don Ese North deposit located less that 1 km east of the Guadalupe underground mine operated by Coeur d'Alene Mines Corporation. The Don Ese high-grade gold and silver deposit was discovered by Paramount on its 100%-owned San Miguel Project in Mexico in December, 2010 (See map). The first hole drilled into the northern portion of the Don Ese deposit (DS-12-025) generated a 26.1 meter intercept grading 3.88 g/T of gold and 275 g/T of silver (over 8 ounces per ton silver) including one 0.7 meter section grading 46.1 g/T of gold and 2,780 g/T of silver (over 31 ounces per ton silver). Hole DS-12-026, also drilled into the northern part of the Don Ese deposit, demonstrated its continuity at depth with an interval of 23.1 meters grading 5.83 g/T of gold and 246 g/T of silver (over 7 ounces per ton silver) including a 7.3 meter intercept averaging 13.6 g/T of gold and 926 g/T of silver (27 ounces per ton silver). Drilling continues.