San Miguel

Paramount Gold and Silver (PZG) own 100% of the San Miguel Project, located in the southwestern part of Chihuahua State, Mexico. The company's immense land holdings total 188,461 hectares (465,697 acres) in the Sierra Madre Occidental Gold and Silver Belt which has been the focus of intensive modern precious metals exploration since the late 1980's. This effort has resulted in the discovery of seven operating mines and a large number of high quality prospects, including San Miguel, making this region one of the fastest growing large-scale gold environments in the world.

San Miguel is located in the Guazapares Mining District, a historical silver and gold mining camp that has become an extraordinary new success story with the development of Coeur d'Alene`s Palmarejo deposit [Reserves 16,272Mtonnes with 90,521Koz Ag and 1,042Koz Au; M&I Resources 13,478Mtonnes with 41,072Koz Ag and 678Koz Au (12/09 Annual Report)]. PZG has been actively exploring and assembling its remarkable land position in the mining district since 2005. The installed and developing infrastructure in the area and Paramount's commanding land holdings permit us to execute on a core precept of our strategy: large scale geological environments close to existing production.