SAN MIGUEL PROJECT

• The San Miguel project has been divided into four zones, each with different geology, and thus, with a different development strategy, including the San Antonio Zone, San Luis Mine Zone, Montecristo Zone, and San Miguel Zone. Drilling at these zones has revealed 2 high grade zones named 'Clavo 99' and 'Clavo 66'
• Paramount is building its project portfolio through the addition of precious metals projects in Mexico and is also considering strategic corporate initiatives in Mexico with other exploration/development companies. This initiative has proven effective with recent acquisitions from both Garibaldi Resources and Mexoro Minerals

• Closed over US$30 million in private placement financings
• Completed 47,560 meters drilling program, including 213 HQ size diamond drill holes and 3,743 meters of exploration trenches.
• Two sub-parallel mineralized zones - approximately 10 kms of strike length
• Technical Instrument 43-101 compliant mineral resource estimate released established a resource of 2.65 Million ounces of Au-equivalent ounces at San Miguel
• Paramount controls a 100% interest in the San Miguel Project
• Paramount controls more than 100,000 hectares in the Sierra Madre
• Geologically similar to Palmarejo's Trojan Project (3.1 M oz Au equivalent) recently acquired by Coeur D'Alene for $1.1 billion
• Sierra Madre Belt - historical production of 40 million ounces gold and 2 billion ounces silver

ANDREA PROJECT

• 86,300 hectare concession that covers most of the ground between Paramount’s San Miguel project and GoldCorp’s El Sauzal gold mine
• Completed an extensive stream sediment sampling program (371 drainage basins), as well as a hydrothermal alteration mineral mapping program using Aster satellite imagery. These programs identified several areas with anomalous gold, silver, copper and zinc and strong hydrothermal alteration.
• Early targets identified from field follow-up include:
  • Marimara, porphyry copper target; assays pending.
  • Mesa Colorada, a gold-silver target with intense stream sediment and alteration anomalies in an area of intersection of regional lineaments; assays pending.
  • Maty gold-silver target: results from initial sampling show contents of 3.4 to 19.2 g/t Au and 76 to 702 g/t Ag in vein material.
• Helicopter supported follow-up program completed summer 2008

GARIBALDI JV

On March 19, 2008 Paramount Gold and Silver Corp. closed its acquisition of Magnetic Resources Ltd. which holds title to the Temoris Project and the Morelos Project in Chihuahua Mexico. In a concurrent transaction, the acquisition by Paramount Gold and Silver Corp. of the option on the Temoris Project held by Garibaldi Resources Corp. has also closed. These transactions were previously announced on February 17, 2009.

The Temoris Project comprises 54,000 hectares of mining concessions adjacent to its San Miguel project and surrounding Coeur's (NYSE:CDE) Palmarejo Project. Paramount Gold and Silver Corp. is now the sole owner of the Temoris Project and together with its San Miguel and Andrea Project, it controls 140,000 hectares of mining concessions in the Guazapares Mining District. Paramount is now preparing an exploration program for its new Temoris Project.

The Morelos property covers a historic mining area about 25 kilometers southeast of Goldcorp's (NYSE: GG) El Sauzal Mine and 30 kilometers south of Mag Silver's (TSX: MAG) Batopilas project. Should Garibaldi exercise its option, Paramount would receive a $2,000,000 cash payment in April 2010 and a 2% NSR. Finally, Paramount also acquires the 2% NSR held by Magnetic Resources over Garibaldi's Iris project near the Pinos Altos and Ocampo mines.

MEXORO STRATEGIC ALLIANCE

Paramount recently signed a Strategic Alliance with Mexoro Minerals, which combines Paramount’s recently discovered “Clavo 99” with Mexoro’s Encino Gordo project for a land package in excess of 1,000 hectares situated immediately east of Coeur d’Alene’s Palmarejo Trogan Project.

Vidette Lake Project

On December 31st, 2008 Paramount entered into an option agreement for 500 hectares on the Vidette Lake Gold Mine and currently holds an initial 25 % option interest. Paramount may increase its interest to 50% by spending $300,000 on exploration by December 31, 2009 and to 90% by spending an additional $600,000 on exploration by December 31, 2010 at which point it becomes a JV with Paramount as the manager. The underlying owner of the property retains a 1% NSR on gold and silver.

The property is located approximately 50 kms north of Kamloops, BC and more specifically at the north end of Vidette Lake in Deadman Valley. The property is accessible on a good-quality gravel road from the Trans-Canada Highway.

Mine development began in 1931 and, following 355 metres of underground exploration and development began production in 1933. Between 1933 and 1939, considerable underground development and mining took place with metal production totalling 29,869 ounces of gold, 46,572 ounces of silver, and 96,618 pounds of copper and 355 pounds of lead. There are five levels to the mine. The property is known to host gold and silver in epithermal veins, breccias and stockwork. There is also a potential for Porphyry Cu-Mo-Au.

A 43-101 compliant technical report was completed in 2008.

Paramount plans to define targets with a complete program of exploration at Vidette Lake, including geochemistry, geophysics and detailed geologic mapping. Depending on results, drilling of the best targets is programmed to be completed by October 2009.

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