Paramount Gold and Silver Corp. Acquires 100% Interest in its San Miguel

OTTAWA, ON - Paramount Gold and Silver Corp. reported that its deal with Tara Gold Resources Corp. (Tara) to acquire 100% of its San Miguel project in Chihuahua, Mexico. This agreement gives Paramount exclusive ownership of the San Miguel Project and increases Paramount's National Instrument 43-101 compliant silver-gold inferred resource by 32.6 million ounces (Ag Equivalent) to a total 108.5 million ounces (Ag Equivalent). Paramount's issued 7.35 million restricted common shares to Tara and based on an average trading price of $1.19 per share, the purchase price is $8,724,450. Paramount paid 26.8 cents per ounce of Silver Eq. resource in the ground for the remaining 32.6 million ounces (Ag Equivalent).
The company's address is 346 Waverley Street, Suite 110, Ottawa, ON K2P 0W5, (613) 226-9881.