Paramount Gold and Silver Corp. announced today assay results from the final four holes drilled during the recently completed program at its 100%-owned Sleeper Gold Project in Nevada. These core holes targeted the Facilities zone, the newly discovered PAD zone, an extension to the West Wood vein zone and a new exploration target approximately 1 km southeast of the Sleeper pit.

Hole PGC-11-012 drilled into the Facilities zone intersected 17.3 meters grading 0.925 g/T of gold and 6.2 g/T of silver. This intercept is likely to increase and upgrade resources in the Facilities zone. Hole PGC-11-014 drilled into an extension of the Wood Vein on the western edge of the Sleeper Pit intersected 17.4 meters grading 2.73 g/T of gold and 4.3 g/T of silver. This excellent high-grade intercept extends the Wood Vein zone towards the west which is expected to increase resources in this area. Hole PGC-11-013 into the PAD zone returned eight intercepts above the resource cut-off grade.

These drill holes were not incorporated in the new updated resource estimates completed by SRK Consulting (www.SRK.com) and recently filed on SEDAR, see the full press release.