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


Paramount Gold and Silver Corp. (NYSE: PZG) 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.


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