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To: Goose94 who wrote (9855)

11/10/2014 8:16:20 AM

From: Goose94

Read Replies (1) | Respond to of 202784

Paramount Gold and Silver (PZG-T) Nov 10, '14 today announced strong results from the first two core holes in the current drill program at the high grade Don Ese deposit, located on its 100%-owned San Miguel Project in northern Mexico. Wide intercepts of excellent grade are expected to upgrade resources in the north end of the deposit to the measured category, as part of Paramount’s plan to complete a Pre-Feasibility Study for San Miguel, and potentially increase the average resource grade in this area.

DE-046 intersected the Don Ese vein for 20.2 meters including an internal 6.1 meter zone with no core recovery (NR) where the material was likely too soft to retain integrity within the core barrel. Above the NR zone, 10.85 meters averaged 2.00 g/T gold and 213.51 g/T silver. Below the NR zone, another 3.25 meters graded 4.34 g/T gold and 222.4 g/T of silver.

Drill hole DE-047 intersected a wider-than-expected 29 meters of structure averaging 1.47 g/T gold and 154 g/T silver, including a higher grade zone of 5.9 meters grading 2.61 g/T gold and 369.3 g /T silver, an outstanding 8.76 gold equivalent g/T grade (using a 1 to 60 gold-to-silver price ratio)

As recently reported, Paramount currently has four core rigs drilling at San Miguel, three of them on the Don Ese deposit and the nearby, newly discovered Dana structure where intercepts up to 14.2 g/T gold and 657 g/T silver have been found (see October 23, 2014 news release).

Details from the first two holes drilled in the current program at Don Ese are below:

Hole #AreaTotal Length (m)From (m)To (m)Width (m)Au g/TAg g/T

DS-046	DON ESE	458.20	424.60	435.45	10.85	2.00	213.5
		Including	428.35	432.50	4.15	2.76	210.1
			441.55	444.80	3.25	4.34	222.4
DS-047	DON ESE	514.30	400.00	400.70	0.70	0.30	46.3
			413.65	414.60	0.95	0.97	152.0
			427.40	460.25	29.10	1.47	154.4
		Including	430.90	438.25	5.90	2.61	369.3
		Including	752.05	457.30	5.25	3.18	155.4
			463.00	463.90	0.90	1.46	15.8

True widths are believed to be not less than 90% of the reported intercepts.

Paramount CEO Christopher Crupi commented that "once again, drilling at Don Ese confirms excellent continuity of higher grade material that our recent Preliminary Economic Assessment shows to be economic even at current metal prices."

NI 43-101 Disclosure
Exploration activities at San Miguel are being conducted by Paramount Gold de Mexico S.A de C.V personnel under the supervision of Glen van Treek, Exploration Vice President of the Company and Bill Threlkeld, a Qualified Person as defined by National Instrument 43-101, who have both reviewed and approved this press release. An ongoing quality control/quality assurance protocol is being employed for the program including blank, duplicate and reference standards in every batch of assays. Cross-check analyses are being conducted at a second external laboratory on 10% of the samples. Samples are being assayed at ALS Chemex and Acme Laboratories, Vancouver, B.C., using fire assay atomic absorption methods for gold and aqua regia digestion ICP methods for other elements.

About Paramount
Paramount is a U.S.-based exploration and development company with multi-million ounce advanced stage precious metals projects in northern Mexico (San Miguel) and Nevada (Sleeper). Fully-funded exploration and engineering programs are now in progress at these two core projects which are expected to generate substantial additional value for our shareholders.

The San Miguel Project consists of over 100,000 hectares (over 247,000 acres) in the Palmarejo District of northwest Mexico, making Paramount the largest claim holder in this rapidly growing precious metals mining camp. The San Miguel Project is ideally situated near established, low cost production where the infrastructure already exists for early, cost-effective exploitation. A second Preliminary Economic Assessment (PEA) for San Miguel was completed and announced on August 25, 2014.

The Sleeper Gold Project is located off a main highway about 25 miles from the town of Winnemucca. In 2010, Paramount acquired a 100% interest in the project including the original Sleeper high-grade open pit mine operated by Amax Gold from 1986 to 1996 as well as staked and purchased lands now totaling 2,570 claims and covering about 47,500 acres which stretch south down trend to Newmont’s Sandman project. This acquisition is consistent with the Company's strategy of district-scale exploration near infrastructure in established mining camps. A PEA was completed for Sleeper and announced on July 30, 2012.

- See more at: paramountgold.com