NEWS of Further Drilling:
March 19, 2007 4:00 AM ET
Paramount Gold Announces Plan for its 50,000 Meter Drilling Program at its San Miguel Project, Mexico
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Paramount Gold Mining Corp. (OTC:PGDP)(Frankfurt:P6G)(WKN:A0HGKQ), is pleased to announce that it plans to drill a total of 50,000 meters in 2007 on the San Miguel project, using a combination of core and reverse circulation methods.
Layne Christensen (Layne de Mexico, S.A de C.V) www.laynechristensen.com has committed the necessary drills to Paramount Gold to execute this program. Founded over 100 years ago, Layne Christensen Company's Mineral Exploration provides drilling services for geological assessment, in-situ mining and mineral exploration with over 150 drilling rigs worldwide.
Paramount's objectives in the upcoming drill program at San Miguel are to upgrade and expand their present inferred resource by infill and down-dip drilling, to extend the known mineralized zones along strike, and to find new zones by drilling the untested portions of the primary mineralized structural zone.
Paramount COO, Larry Segerstrom stated: "We are very fortunate to be working with Layne de Mexico to provide the necessary drill equipment and crews to achieve our drilling goals this year."
About Paramount Gold
Paramount Gold is a precious metals exploration company trading on the OTCBB under the symbol PGDP and listed on the Frankfurt stock exchange under the symbol P6G (WKN: A0HGKQ). The Company's objectives are to explore and develop the San Miguel project, located in Chihuahua, Mexico within the Sierra Madre Occidental gold/silver belt and fully develop the potential of the strategic alliance with Teck Cominco for gold exploration in South America. For more information, please visit the Company's web site at: www.paramountgold.com (now available in the following languages: English, German, French, Spanish, and Mandarin).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to commencement of drilling operations, concentration in mineral deposits, delays in testing and evaluation of ore samples, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Contact Information: Paramount Gold Mining Corp. Larry Segerstrom, 623-225-7865 COO Chris Halkai, 1-866-481-2233 (Toll-free) or 613-226-9881 Corporate Relations
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