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Paramount Gold Mining (fka PGDP) RSS Feed

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Created
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PGDP Paramount Gold Investor Relations: Skyline Communications, 613-226-9881 toll-free: 1-866-481-2233 www.skylinecommunicationsinc.com or Haynes Capital Corp. 416-850-2176 (Investor Relations) pgdp@haynescapitalcorp.com Paramount is a precious metals exploration and development company. It is management's objective to grow the Company into a significant gold and precious metals producer by acquiring advanced-stage projects and/or producing mines in the most prolific precious metal districts in the world. Paramount recently announced that it has signed an agreement to acquire up to a 70% interest in the San Miguel Groupings, located in Chihuahua, Mexico. The area includes several concessions and past producing mines, including the high grade former producing San Luis mine. The agreement also includes access to 50% of the processing capacity at the La Currita Mill located about three kilometers away. The San Miguel Groupings lies in the Temoris mining district, part of the prolific gold-silver belt of the Sierra Madre Occidental. It can be accessed by vehicle and rail, and has well developed infrastructure. The project covers approximately 800 acres with an estimated 6 kilometers of strike in the historic gold/silver mining district. The immediate area has numerous mines and recent substantial discoveries. About 20 miles to the SE is the El Sauzal mine, Glamis Gold's (NYSE:GLG) newest and largest gold mine. The mine is on track to produce 170,000 ounces in 2005 with annual production projected to average 190,000 ounces of gold at an estimated total cash cost of $110 per ounce.
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