Paramount Gold and Silver Corp Signs Definitive Agreement to Expand
its San Miguel Project>
Paramount Gold and Silver Corp Signs Definitive Agreement to Expand its San Miguel Project
(Thomson Reuters ONE) - OTTAWA, CANADA -- (MARKET WIRE) -- 07/08/09 -- Paramount Gold andSilver Corp. (TSX: PZG)(NYSE: PZG)(FRANKFURT: P6G)(WKN: A0HGKQ) hassigned definitive agreements to acquire the Guazapares projectlocated in southwestern Chihuahua, Mexico from Mexoro Minerals Ltd.(OTCBB: MXOM) for a purchase price of $3.7 million.The Guazapares project comprises 12 claims surrounding Paramount'sSan Miguel discovery which can be seen in the map at the followinglink http://www.paramountgold.com/projects/images/temoris2.jpg. Thefirst payment will be released from escrow when certain conditionsare met. An additional payment is due to Mexoro if, within 36 monthsthe project is put into commercial production or the project is soldby Paramount.Paramount CEO, Christopher Crupi stated, "We are extremely excitedwith the acquisition of these concessions immediately surrounding ourflagship San Miguel project. With drilling expected to commence soon,our team will have many new targets at the Guazapares project and weexpect that this will add to our growing resource and resourcepotential."The following is a link to the updated land status map of Paramounthighlighting the new concessionshttp://www.paramountgold.com/projects/images/temoris3.jpgContacts:Paramount Gold and Silver Corp.Christopher Crupi, CEOChris Theodossiou, Investor Relations.866-481-2233 / 613-226-9881This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 08.07.2009 - 15:28 Uhr
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