Paramount Gold and Silver Corp. Provides SpinCo and Merger Update

WINNEMUCCA, NEVADA--(Marketwired - April 8, 2015) - Paramount Gold and Silver Corp. (NYSE MKT:PZG) (TSX:PZG) ("Paramount" or the "Company") announced today that the previously announced agreement and plan of merger (the "merger") with Coeur Mining, Inc. ("Coeur") (NYSE:CDE) is anticipated to become effective on April 17, 2015. The merger is subject to the approval of the stockholders of both Paramount and Coeur, as applicable, and other customary closing conditions as set forth in the merger agreement.

Upon the closing of the merger, Paramount stockholders will receive Coeur common stock as per the merger agreement at an exchange ratio of 0.2016 of a share of Coeur common stock for every one share of Paramount common stock. In addition, as previously announced, Paramount stockholders of record at the close of business on April 14, 2015 will be entitled to receive one share of common stock of Paramount Gold Nevada Corp. ("SpinCo") for every 20 shares of Paramount common stock held by such stockholder on the closing date, payable or issuable upon the closing of the merger. Cash will be paid in lieu of issuing fractional shares of stock.

Paramount stockholders who sell their Paramount shares on or prior to the closing date will be selling their right to receive shares of Coeur common stock and SpinCo common stock on the closing of the merger. Stockholders are encouraged to consult with their financial advisors regarding the implications of selling shares of Paramount common stock.

"When-issued" trading for SpinCo common stock is expected to begin on April 10, 2015. "When-issued" trading refers to a sale or purchase made conditionally because the stock has been authorized but not yet issued. On April 20, 2015, "regular-way" trading is expected to commence in SpinCo common stock on the NYSE MKT LLC under the symbol "PZG". Cantor Fitzgerald & Co. has been engaged as financial advisor to Paramount Gold Nevada Corp. in this regard.

Paramount Gold Nevada Corp. will have approximately 8.5 million shares of common stock issued and outstanding when trading is expected to commence on the NYSE MKT on April 20, 2015. The company will be capitalized with approximately $10 million in cash from Coeur. Paramount Gold Nevada Corp.'s largest stockholder will be FCMI, a private corporation controlled by Albert D. Friedberg and members of his immediate family, with holdings of approximately 12% followed by Coeur Mining, Inc. with 4.9%.