Paramount Gold and Silver's Infill Drilling Likely to Upgrade Resource and Improve Grade at Don Ese Deposit

WINNEMUCCA, NEVADA--(Marketwired - Nov. 10, 2014) - Paramount Gold and Silver Corp. (NYSE MKT:PZG)(TSX:PZG)(FRANKFURT:P6G)(WKN:A0HGKQ) ("Paramount") 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 #	Area	Total Length (m)	From (m)	To (m)	Width (m)	Au g/T	Ag g/T
		458.20	424.60	435.45	10.85	2.00	213.5
DS-046	DON ESE	Including	428.35	432.50	4.15	2.76	210.1
			441.55	444.80	3.25	4.34	222.4
		514.30	400.00	400.70	0.70	0.30	46.3
			413.65	414.60	0.95	0.97	152.0
DS-047	DON ESE		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."