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[emmi2004]

COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:

Paramount Gold's First Drill Results Include Bonanza Gold Grade of 35.5 g/t Gold over 4 Meters at San Miguel Project in Mexico

CHIHUAHUA, Mexico, Aug 01, 2006 (BUSINESS WIRE) -- Paramount Gold Mining Corp. (OTC:PGDP)(FWB:P6G), is pleased to disclose the first round of results from its ongoing drill program at the San Miguel project located near Temoris, Chihuahua, Mexico. These first nine drill holes represent initial testing on the San Luis, Montecristo and La Blanca zones, which are three of the over ten known mineralized zones located at San Miguel. Two of the three zones reported very significant intercepts of gold and silver mineralization and included bonanza gold of 35.5 g/t gold with 17 g/t silver over 4.0 meters in hole SL-02 at San Luis and 0.39 g/t gold and 80.62 g/t silver over 19.5 meters in hole MC-01 at Montecristo. Of significance, these intervals contain associated lead, zinc and copper sulfides, however due to backlogs at analytical laboratories, the analysis for these elements has yet to be completed.
Paramount's Exploration Manager for Mexico, Bill Reed, comments "I am very pleased that our initial round of drilling has been this successful. We recently obtained a report by Behre Dolbear & Company for A J Industries, dated 1962, stating "from what can be learned from existing literature, the San Luis deposit contains the highest gold grades in the district". Our initial drilling shows that this gold system can produce high grades and we are only getting started with just a few holes in three zones and have numerous other zones and areas to drill test throughout this large system. With each set of drill results we learn more and will be able to direct our second round of drilling on these targets more effectively. We plan 3 or 4 more holes at San Jose, and then the drill will be moved to the La Union Mine area to test the zone recently defined by 5 trenches. After 5-7 holes have been completed, the drill will be moved to the Santa Clara area to test gold and silver anomalies identified during a recently completed trenching program. Then we will rotate the drill back to previously drilled targets after analytical results have been reported for a second round of drilling."

Further commenting, Chris Crupi, President & CEO stated "These encouraging results have strengthened our commitment to the San Miguel project, evidenced by my recent authorization of an increased budget for further drilling."

San Luis Mine Area: Drill holes: SL-01, SL-02 & SL-03

Paramount Gold has recently completed eight core drill holes in the San Luis Mine area at its San Miguel project. The assay results for the first three drill holes are listed below. DDH SL-01, SL-02 and SL-03 were drilled to test un-mined zones adjacent to a N50W striking high grade gold-silver quartz and quartz breccia vein mined by the Alaska Juneau Company between 1958 and 1962. This vein dips 70 to the NE and was mined from the surface to a down dip depth of approximately 250 meters. Old mine maps showing drill holes in the bottom of the shaft that indicate the high grade mineralization continues below the workings.

DDH SL-01 cut 8.9 meters between 84.80 and 93.72 meters averaging 0.64 g/ton gold and 18 g/ton silver and then entered a three and a half meter void were the vein had been previously mined out.

DDH SL-02 cut 4.0 meters between 141.00 and 145.00 meters averaging 35.50 g/ton gold and 17 g/ton silver.

DDH SL-03 cut 28.0 meters between 64.0 and 92.0 meters averaging 0.26 g/ton gold and 38.20 g/ton silver including 8.0 meters between 64.0 and 72.0 meters averaging 0.05 g/ton gold and 51 g/ton silver; including 6.0 meters between 79.0 and 85.0 meters averaging 0.26 g/ton gold and 107 g/ton silver, and including 4.0 meters between 88.0 and 92.0 meters averaging 1.35 g/ton gold and less than 5 g/ton silver.



Silver Gold
DDH From To Interval Gold g/t g/t Equivalent
-------------------------------------------------------------------
SL-01 84.80 93.72 8.92 0.64 18.00 0.94
-------------------------------------------------------------------
SL-02 141.00 145.00 4.00 35.50 17.00 35.78
-------------------------------------------------------------------
SL-03 64.00 92.00 28.00 0.26 38.20 0.90
-------------------------------------------------------------------
Including 64.00 72.00 8.00 0.05 51.00 0.90
-------------------------------------------------------------------
Including 79.00 85.00 6.00 0.26 107.00 2.04
-------------------------------------------------------------------
Including 88.00 92.00 4.00 1.35 5.00 1.43
-------------------------------------------------------------------


NOTE: All of the above intervals contain associated lead, zinc and copper sulfides. The analysis for these elements is not yet completed.
The San Luis Mine is located immediately north and adjacent to the San Jose silver zone where detailed rock chip sampling completed earlier outlined an area 250 meters long and up to 50 meters wide that averaged 225 g/t silver {see press release Dec 8th 2005} The San Jose zone is comprised of a series of quartz veins and stockwork quartz veinlets that strike N10-25W and dip 70-90 E. The intersection of the N50W San Luis structure with the San Jose structures controlled the high gold-silver mineralization in the San Luis Vein. Historic documents from the Alaska Juneau Company and recent detailed rock chip sampling by Paramount Gold indicate that other structural intersections host similar high grade gold silver mineralization.

Drill Update: Another six diamond drill holes have been completed in the San Luis zone and are awaiting assay results. Two drill holes have been completed in the San Jose silver zone and a third hole was started yesterday. Trenching across the mineralized zone continues to the south where this zone can be followed for several kilometers. Paramount expects to report further drill results in a more timely fashion now that a steady stream of drill samples has been going out to the assay lab.

Montecristo Area MC-01, MC-02 & MC-03

Located in the NW portion of the Guazapares structural lineament that has a general strike of N20 - 30W, this mineralized zone can be traced more than six kilometers and contains hundreds of ancient mine workings that date as far back as the 1620's. Three diamond drill holes (DDHs) have recently been completed in Montecristo area totaling 798.20 meters. Three vein like structures which strike N30-40E (Montecristo I, II and III), and the Montecristo hydrothermal breccia zone which strikes N30W were intersected in these drill holes.

The Montecristo breccia is a recently recognized hydrothermal structure that was identified in old mine workings and confirmed by new exposures in recently constructed roads to drill sites. On surface, the Montecristo breccia can be recognized for a distance of more than 1000 meters along strike with thickness of 50 to 80 meters. This breccia was intersected at depth by DDHs MC 01 and MC-03

DDH MC-01 intersected 19.5 meters averaging 0.39 g/ton gold and 80.6 g/ton silver between 54.5 and 74 meters, and a 4.4 meters zone between 140.2 and 144.4 meters averaging 116 g/ton silver with low gold values.

DDH MC-03 intersected 29.5 meters averaging 0.61 g/ton gold and 11 g/ton silver between 92.5 and 122.0 meters with lower grade mineralization below. This breccia is considered of great importance because of the potential to develop a large low grade bulk tonnage resource. The vein structures require further drill testing to determine their significance. There is potential to discover structurally-controlled high-grade zones within the breccia.

Below is a summary of drill holes MC-01, MC-02 and MC-03



Gold Silver Gold
DDH From To Interval g/t g/t Equivalent Target
----------------------------------------------------------------------
Montecristo
MC-01 54.50 74.00 19.50 0.39 80.62 1.74 Breccia
----------------------------------------------------------------------
Montecristo
MC-01 74.00 87.00 13.00 0.02 24.11 0.42 Breccia
----------------------------------------------------------------------
Montecristo
MC-01 140.20 144.60 4.40 0.08 116.73 2.02 I Structure
----------------------------------------------------------------------
Montecristo
III
MC-02 74.50 80.00 5.50 0.00 20.55 Structure
----------------------------------------------------------------------
MC-02 93.00 143.00 50.00 0.00 15.00
----------------------------------------------------------------------
Montecristo
MC-03 92.50 122.00 29.50 0.61 11.25 0.80 Breccia
----------------------------------------------------------------------
Montecristo
MC-03 122.00 129.00 7.00 0.08 33.86 0.64 Breccia
----------------------------------------------------------------------
Montecristo
MC-03 170.00 181.00 11.00 0.39 74.40 1.63 I Structure
----------------------------------------------------------------------
Including 1.15 3.22 373.00
----------------------------------------------------------------------
Montecristo
I
MC-03 181.00 191.00 10.00 0.10 12.70 0.22 Structure
----------------------------------------------------------------------


NOTE: Drill hole locations and orientations are listed below at the end of text.
Mineralization is associated with a rhyodacite intrusive rocks and a hydrothermal breccia developed along the contract with andesite tuffs and flows that host the felsic intrusive complex.

La Blanca Area LB-01, LB-02 and LB-03

Three DDHs (LB-01, LB-02 and LB-03) were drilled to test the historical drill data reported by War Eagle in the early 1990's. Paramount twined three of the better reverse circulation (RC) War Eagle holes that cut the reported mineralization. These three holes did not confirm any of the War Eagle intercepts, but drill hole LB-01 did intersect 19.38 g/t silver at depth and it is possible that it could represent an extension of the Montecristo zone. Paramount is planning further drill testing of this zone during the next round of drilling at Montecristo.



HoleID Total Depth Type Target
----------------------------------------------------------------
LB-01 200.5 DDH Twin of RC 20
----------------------------------------------------------------
LB-02 157.75 DDH Twin of RC 17
----------------------------------------------------------------
LB-03 173.00 DDH Twin of RC 21
----------------------------------------------------------------


The most significant intercepts are:


Gold in Silver in Gold
DDH From To Interval g/t g/t Equivalent
--------------------------------------------------------------
LB-01 136.00 155.00 19.00 0.00 5.79 0.10
--------------------------------------------------------------
LB-01 155.00 163.00 8.00 0.08 19.38 0.41
--------------------------------------------------------------
LB-01 163.00 176.00 13.00 0.04 5.69 0.14


In general, the lithology consists of a hydrothermally altered tuff sequence intruded by rhyodacite, rhyolite and andesite. Most drill hole intercepts show strong silicification with disseminated pyrite, and moderate argillic alteration in some zones. Between 150.30 and 166.00 meters traces of galena were reported.
Paramount has renegotiated its agreement on the La Blanca area concesssions, reported in News Release dated January 3rd 2006. Paramount can earn a 100% interest by making a cash payment of $US 180,000 ($110,000 is paid and $70,000 is due by Dec 31 2006) and a work commitment of US$500,000 to be completed before Dec. 31 2007. A royalty of US$1.00 per gold equivalent ounce is payable on any reserves in the proven and probable category based on an independent audit, one to be completed at year end 2007 and year end 2008. Tara Gold, Paramount's JV partner may opt in for 30% interest as per an area of interest agreement.

Quality Control Program

Paramount takes detail photos of all the core before it is cut to half core which is assayed at ALS Chemex's Vancouver laboratory. As part of quality assurance, quality control (QAQC), a blank (sterile)sample is submitted every 20th sample. Later, pulps from a number of intervals will be renumbered and pulps from known standards will be inserted between them in numerical order. These will then be submitted for reanalysis. The results will then be compared to the original values reported, and the known values of the inserted standards. Half-core samples have been retained on site for verification and reference purposes.

C W Reed , B. Sc. Mineralogy, is acting as qualified person and has prepared the detail and review with respect to this news release.

Diamond Drill Hole Information - San Miguel Project



HoleID Easting Northing Elevation
----------------------------------------------------------------------
MC-01 767569.014 3035427.103 1703.697
----------------------------------------------------------------------
MC-02 767407.267 3035509.212 1712.661
----------------------------------------------------------------------
MC-03 767573.745 3035479.495 1732.000
----------------------------------------------------------------------
LB-01 767904.745 3034222.611 1504.892
----------------------------------------------------------------------
LB-02 767903.770 3034221.600 1504.762
----------------------------------------------------------------------
LB-03 767797.582 3034203.155 1503.873
----------------------------------------------------------------------
SL-01 769800.541 3031749.274 1606.853
----------------------------------------------------------------------
SL-02 769845.319 3031778.976 1604.994
----------------------------------------------------------------------


HoleID Azimuth Dip Tot Depth Type Area Target
----------------------------------------------------------------------
Montecristo
Breccia and
Structure
MC-01 258 -45 281.85 DDH Montecristo Montecristo I
----------------------------------------------------------------------
Structure
MC-02 280 -70 218.85 DDH Montecristo Montecristo III
----------------------------------------------------------------------
Montecristo
Breccia and
Structure
MC-03 260 -50 297.50 DDH Montecristo Montecristo I
----------------------------------------------------------------------
LB-01 355 -60 200.5 DDH La Blanca Twin of RC 20
----------------------------------------------------------------------
LB-02 265 -60 157.75 DDH La Blanca Twin of RC 17
----------------------------------------------------------------------
LB-03 265 -60 173.00 DDH La Blanca Twin of RC 21
----------------------------------------------------------------------
San Luis
SL-01 240 -65 160.80 DDH San Luis Structure
----------------------------------------------------------------------
San Luis
SL-02 240 -65 179.10 DDH San Luis Structure
----------------------------------------------------------------------


About San Miguel
San Miguel is currently comprised of 16 concessions covering an estimated 6 kms strike of silver and gold mineralization. It is located in Chihuahua, Mexico and lies in the Guazapares Mining District, part of the gold-silver belt of the Sierra Madre Occidental. Paramount signed an agreement in August 2005 with Amermin S.A. de CV, a subsidiary of Tara Gold Resources, to acquire a 70% interest in the San Miguel project.

About Paramount Gold

Paramount Gold Mining Corp. is a precious metals exploration and development company. It is management's objective to grow Paramount into a significant gold and precious metals producer by developing the Andean Gold Alliance with Teck Cominco in South America, the San Miguel and Linda projects in Mexico and Peru, and by acquiring other advanced-stage projects and/or producing mines in the most prolific precious metal districts in the world. The Company trades on the OTC market under the symbol "PGDP" and on the Frankfurt Exchange under the symbol "P6G". For more information, please visit the Company's web site at: www.paramountgold.com (now available in the following languages: English, German, French, Spanish, and Mandarin).

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

SOURCE: Paramount Gold Mining Corp.




CONTACT: Investor Relations
Skyline Communications, 613-226-9881
Toll-free, 1-866-481-2233


Copyright Business Wire 2006

-0-

KEYWORD: United States
Mexico
North America
Central America
Florida
INDUSTRY KEYWORD: Natural Resources
Mining/Minerals


ALLE WEITEREN INFOS IM HAUPTTHREAD

[Nednett]

Antwort auf Beitrag Nr.: 23.275.953 von emmi2004 am 01.08.06 23:21:00

Irgendwie habe ich so das Gefühl, als ob das der Durchbruch wäre. Bin seit Dezember 2005 dabei und habe mit dieser Aktie schon einige Höhen und Tiefen überstanden aber ich denke die Zeiten der Tiefen sind vorbei...

Spätestens im Oktober gehts dann richtig ab.

Allen Investierten wünsche ich weiterhin viel Erfolg und Spaß mit dieser Aktie.

[HansWuerstchen]

Kaufen bis 10€!!!

so oder ähnlich könnte die morgige Bullvestor Ausgabe lauten

[power_48]

Dort steht die News auch schon 123456789 mal drín....

Egal....es sind HAMMERNEWS

[Nednett]

Antwort auf Beitrag Nr.: 23.276.066 von HansWuerstchen am 01.08.06 23:28:53

Wenn ich ehrlich bin wäre es mir lieber BV würde sich bei Paramount zurück halten. Halte nicht viel von diesem "Pollinger".

Paramount macht auch ohne Gepushe seinen Weg!

[power_48]

Antwort auf Beitrag Nr.: 23.276.066 von HansWuerstchen am 01.08.06 23:28:53

Der Polli muss jetzt Nachtschicht machen....

[nbielfeldt]

YES! MORGEN FRÜH GLEICH NOCH EIN WENIG EINKAUFEN GEHEN!!!

[emmi2004]

Antwort auf Beitrag Nr.: 23.276.093 von power_48 am 01.08.06 23:31:20

wünsche allen investierten und den die es werden wollen
tiefgrüne Kurse morgen und die nächsten Wöchen.
:eekies ist die News auf die wir alle so lange gewartet haben
und bestätigt all unsere positiven Einschätzungen zu dieser Firma.
Para wird nun seinen Weg gehen, davon bin ich fest überzeugt.

PS. bin nur froh das ich gestern noch einen Verkäufer gefunden habe.

Danke nochmal

Allen eine gute Nacht

[mfierke]

wahnsinn

[dl9baf]

Antwort auf Beitrag Nr.: 23.277.096 von mfierke am 02.08.06 07:45:19

Ich werde mal versuchen gleich noch welche bis 2 EURO einzusammeln, vielleicht kennen ja noch nicht alle die News, ein paar blinde die Verkaufen solle es doch immer geben, oder ?

Ich persönlich gehe jetzt von ganz anderen Kurses aus.

[Plusquamperfekt]

Antwort auf Beitrag Nr.: 23.277.167 von dl9baf am 02.08.06 07:58:24

Erfahrungsgemäss sind die ersten Kurse nach solchen News oft höher als
die eine halbe Stunde später

[ProfessorHastig]

@all:

Kann ich vorbörslich eigentlich schon sehen, mit welchem Limit (-> möglichst eng natürlich...) ich bei Börseneröffnung dabei sein kann? Kaufe nämlich nicht so gerne unlimitiert...

Danke für Eure Antworten!!!
Prof.Hastig

[IceBraker76]

Moin

Denke ein Limit bis 2 Euro ist vollkommen ok !!!


Dass der Kurs anzieht ist zu erwarten, wenn
noch unter den 2 Euro dann bezahlst Du auch nur zB 1,95 Euro

sonnn wix das ich ich nicht flüssig bin...musste bei 3,30 kaufen

[Suesswasserpolyp]

ich weiss zwar nicht was an den zahlen so positiv ist....da kann ich ja jeden tag bessere news bei anderen explorern lesen

[Isti08]

Antwort auf Beitrag Nr.: 23.282.387 von Suesswasserpolyp am 02.08.06 14:21:20

Dann lass uns doch mal an den täglichen Mega Resultaten teilhaben..einige Beispiele bitte

[Plusquamperfekt]

Antwort auf Beitrag Nr.: 23.282.387 von Suesswasserpolyp am 02.08.06 14:21:20

Wieder (mal) negativ gestimmt

[Suesswasserpolyp]

Antwort auf Beitrag Nr.: 23.282.510 von Plusquamperfekt am 02.08.06 14:30:03

das mit jeden tag war ja ein bissl ironisch gemeint....aber so gut waren die ergebnisse aus meiner sicht nicht...wenn ihr ein bissl realistischer seid,dann koenntet ihr mir zustimmen...aber wie bei texola...viel spass mit der aktie

[Isti08]

Antwort auf Beitrag Nr.: 23.282.820 von Suesswasserpolyp am 02.08.06 14:52:39

Aha...manchmal wäre es besser, einfach mal die Klappe zu halten, wenn man nichts vernünftiges zum thema beizutragen hat

[power_48]

WESHALB GEHT DER HAUPTTHREAD NICHT...

[Eddy1958]

Aufpassen---Ende der Woche ist Short-Time USA mit Ansage!!!!!