Clavo 99 Extends To A Width Of 650 Meters

CHIHUAHUA, MEXICO - Paramount Gold and Silver Corp. reported results from drill holes SM-42, 43 and 44 in southeastern part of the San Miguel Vein. Drill hole SM-42 intersected the vein 80 meters to the southeast and 50 meters above recently reported SM-39. Hole SM-43 pierced the vein 80 meters to the south and at the same elevation as SM-42. SM-44 intercepted the vein 100 meters directly below SM-43, and is 180 meters southeast of SM-39.
These new assay results have extended 'Clavo 99' to a known width of at least 650 meters and demonstrated continuityof mineralization from the surface to a depth of nearly 400 meters.
Hole SM-42 had a significant vein intercept of 5.85 meters (true width) grading 6.06 g/t Au and 16.1 g/t Ag. It also contained 0.93% Pb and 2.56% Zn. The best intercept from SM-43 was 1.67 meters at 2.74 g/t /Au and 20.5 g/t Ag. Finally, SM-44 had several intercepts including 0.43 meters at 5.59 g/t Au and 3,070 g/t Ag as part of a wider, not quite so high grade intercept.
Larry Segerstrom, COO of Paramount Gold and Silver Corp., commented, "The Clavo 99 zone just keeps going and going to the southeast and continues to show very good grades and thicknesses. We have now turned our attention to exploring the extent of the clavo on the northwest side. The vein intercepts appear to be good from examining the core from the newest holes."
The company's address is 346 Waverley Street, Suite 110, Ottawa, ON K2P 0W5, (613) 226-9881.