Paramount Extends Southern Limit of 'Clavo 99'

CHIHUAHUA, MEXICO - Paramount Gold and Silver Corp. reported results from two additional drill holes in the San Miguel Zone of its San Miguel project in the Guazapares Mining District, Mexico. Drill hole SM-19 was drilled at the southern end of the drill pattern, and SM-20 was drilled below mineralized SM-08 and SM-09, designed to test the vein approximately 50 meters below these two holes.
Hole SM-20 had two excellent gold and silver intercepts 2.65m of 1.23 g/t Au and 834 g/t Ag, and 6.26m of 2.41 g/t Au and 20 g/t Ag. It extends the southern limit of the high grade body called 'Clavo 99' an additional 50 meters horizontally, to a total width of at least 350 meters. 'Clavo 99' is also now shown to be mineralized for 200 meters down dip and it remains open down dip and to the north.
Larry Segerstrom, COO of Paramount Gold and Silver Corp., commented, "Hole SM-20 was a pleasant surprise. The excellent grades in this hole suggest that the southern boundary of 'Clavo 99' rakes to the south and that this high grade body may be much larger than previously thought. In appearance, grade and mineralogy, this body of mineralization remains very similar to that at nearby Palmarejo."
The company's address is 346 Waverley Street, Suite 110, Ottawa, ON K2P 0W5, (613) 226-9881.