Paramount Gold and Silver Corp. Transaction Update

WINNEMUCCA, NEVADA--(Marketwired - March 17, 2015) - Paramount Gold and Silver Corp. (NYSE MKT:PZG)(TSX:PZG)(FRANKFURT:P6G)(WKN:A0HGKQ) ("Paramount" or the "Company") announced today it will hold a special meeting of its stockholders in connection with the previously announced proposed transaction with Coeur Mining, Inc. ("Coeur") (NYSE:CDE) on April 17, 2015 at 10:00 a.m. Eastern Time, at The Westin Hotel, 321 North Fort Lauderdale Beach Boulevard, Ft. Lauderdale, Florida. At the special meeting, the Company's stockholders will meet to consider and vote on the acquisition of Paramount by Coeur and related proposals.

Paramount stockholders of record at the close of business on February 24, 2015 will be entitled to receive notice of the special meeting and to vote at the special meeting. The Notice of Meeting and Joint Proxy Statement/Prospectus will be mailed to Paramount stockholders forthwith.

Spin-Off

As previously announced on December 17, 2014, in connection with the proposed transaction, Coeur will acquire Paramount following the spin-off by Paramount of its Nevada subsidiary (the "distribution" and, together with the merger, the "Transactions"). This Nevada subsidiary is called Paramount Gold Nevada Corp. and will continue to hold Paramount's current Nevada assets including the Sleeper Gold Project. Paramount Gold Nevada will have US$10 million in cash (less transaction expenses) and no debt at the time of the distribution.

The merger will not occur unless the distribution has been completed, and the distribution will not occur unless the acquisition is expected to occur immediately thereafter. If Paramount stockholders or Coeur stockholders do not approve the acquisition proposal or if the other conditions to the acquisition are not expected to be satisfied or waived, Paramount will not be required to complete the distribution.

The Transactions are expected to close on April 17, 2015, subject to the approval of the stockholders of Paramount and Coeur, as applicable, and other customary closing conditions as set forth in the merger agreement.

Spin-Off Stock Market Listing

Paramount Gold Nevada Corp. has now received from the NYSE MKT clearance to apply for listing of its common stock for trading on the NYSE MKT post closing of the Transactions.