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Paramount Gold and Silver Corp. Remains Positive on Underlying Asset Value of Properties

Posted on: Tuesday, 9 September 2008, 21:00 CDT

Paramount Gold and Silver Corp. (TSX: PZG)(AMEX: PZG)(FRANKFURT: PZG)(WKN: A0HGKQ) President and CEO, Christopher Crupi, commented today that despite overall market declines in mining stocks, that he remains encouraged with the success of the Company's exploration program and the overall strength of the mining sector.

"Day to day fluctuations in our share price do not necessarily reflect the true value of our underlying assets. Investor fears about commodity prices and the overall economies in both the United States and Canada have seen mining stocks experience a precipitous decline in market value, wiping out billions of dollars in shareholder value. While no one can predict where the market is headed in the short term, long term investment opportunities within the mining sector present unique opportunities for long term investors."

Mr. Crupi went on to state that the Paramount Board of Directors remain committed to strengthening shareholder value by focusing ongoing drilling strategies on those areas showing the most encouraging drilling results and by expanding its land holdings in the San Miguel region.

Paramount Gold and Silver Corp. is a precious metals mining exploration company presently in the early stages of an extensive exploration program at their San Miguel project in the Guazapares Mining District, part of the Sierra Madre Occidental gold-silver belt of Mexico.

 Contacts: Paramount Gold and Silver Corp. Christopher Crupi CEO 613-226-9881 / 866-481-2233  

SOURCE: Paramount Gold and Silver Corp.

Source: MARKET WIRE

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