Paramount Gold and Silver Reports Gold Grades Up to 27.1 g/T From Bulk-Minable San Francisco Deposit in Mexico - Paramount Gold Nevada (AMEX:PZG)

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Paramount Gold and Silver Corp. (NYSE: PZG) reported today that new drilling has found higher gold grades at the San Francisco target on its 100%-owned San Miguel Project in Mexico. Eight new holes in the northern and western portions of the San Francisco deposit have returned: (a) higher-grade mineralization up to 27.1 g/T of gold and 24.0 g/T of silver; and (b) near surface, wide intercepts including 23.6 meters grading 1.51 g/T of gold and 11.9 g/T of silver, confirming the bulk tonnage nature of this deposit. Drilling continues at the San Miguel Project with three core rigs.

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