Paramount Gold Extends Zone 500 Meters with Polymetallic Intersects, Including 105 Meters Averaging 1.45% Zinc, 0.52% Lead, 28 g/t Silver and 0.26 g/t Gold at Their San Miguel Project, Mexico.CHIHUAHUA, Mexico -- Paramount Gold Mining Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :PGDP PGDP Paducah Gaseous Diffusion Plant PGDP Project Gutenberg's Distributed Proofreaders )(Frankfurt: P6G, WKN WKN Wertpapier-Kenn-Nummer (identifying number assigned to securities traded in Germany) WKN Warrior Knowledge Network (US Army) : A0HGKQ), is pleased to release the most recently reported assays from its ongoing drill program at the San Miguel San Miguel (sän mēgĕl`), city (1993 pop. 118,214), E El Salvador, at the foot of San Miguel volcano (6,996 ft/2,132 m). It has textile, rope, and dairy-products industries. The region produces cotton, henequen, and vegetable oil. Project near Temoris, Chihuahua, Mexico. The following results include a further eight drill holes completed on the La Union zone (San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. extension) and one more hole from the San Jose zone. The eight drill holes at La Union are step outs to the South and extend the zone approximately 500 meters in that direction. Drill hole LU-09 and LU-11 intersected 100 meters plus of polymetallics while other drill holes continue to intersect In a relational database, to match two files and produce a third file with records that are common in both. For example, intersecting an American file and a programmer file would yield American programmers. high grade silver of 1,235 g/t across 0.40 meters in drill hole LU-12 and 189 g/t silver across 17.5 meters in hole LU-07. The best gold intersect was 2.84 g/t across 14.6 meters in hole LU-06, while drill hole LU-11 cut 13.5 meters from 105.0 to 118.5 of 7.07% zinc, 2.38% lead, 36 g/t silver with 0.36 g/t gold. Bill Reed, Exploration Manager for Mexico, said, "The preliminary conclusions from the long polymetallic intercepts in drill hole LU-09 and LU-11 suggest the intersection of a chimney Chimney A vertical hollow structure of masonry, steel, or reinforced concrete, built to convey gaseous products of combustion from a building or process facility. . The increased base metal values in most of these drill holes to the south may also indicate we are lower in the mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. system in that direction. It is also noteworthy that drill hole LU-09 and LU-11 had long intersects of over 100 meters and they bottomed in mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. , indicating this zone is open to depth. Also important is the 14.6 meter intercept of 2.84 g/t gold in drill hole LU-06. Drilling at La Union has extended the strike length another 500 meters to the South and we are now drilling North of the San Jose zone in the San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. area where we have confirmed the zone with trenches. With our drill and trench results at La Union, San Jose, San Luis San Luis, city (1991 pop. 110,353), capital of San Luis prov., W central Argentina. The city is the commercial center of an area producing cattle, corn, and asparagus; the surrounding area has timber and mineral resources. San Luis is a popular resort. and San Antonio, we have now identified a continuous zone over a considerable length of approximately 2.4 kilometers (2400 meters) and it remains open in all directions." Chris Crupi, President & CFO See Chief Financial Officer. , explained, "I am very excited on how quickly our exploration team is increasing the size potential of our discovery at San Miguel. The value of the high grade intersects of gold and silver in previous drill holes and trenches is quite evident and we are now finding good base metal values too. The 105 meters of polymetallic mineralization intersected in drill hole LU-09 has considerable value of approximately $82 per ton at today's metal prices (Zinc US$1.80/lb, Lead $0.75/lb, Silver $12.25/oz and gold $600/oz)." La Union zone Highlights LU-06 cut 16.3 meters from 42.1 to 58.4 meters of 2.44% zinc, 1,26% lead with 13.0 g/t silver and 14.6 meters from 58.4 to 73.0 meters of 2.84 g/t gold with 0.56% zinc and 0.29% lead; LU-07 cut 17.5 meters from 31.0 to 48.5 meters of 189 g/t silver with 0.87% zinc and 0.26% lead; LU-09 cut 105.35 meters from 22.15 to 127.50 meters averaging 1.45% zinc, 0.52% lead, 28 g/t silver and 0.26 g/t gold; LU-11 cut 101.5 meters from 29.50 to 130.55 meters averaging 1.93% zinc, 0,66% lead, 13 g/t silver with 0.08 g/t gold including 13.5 meters from 105.0 to 118.5 meters of 7.07% zinc, 2.38% lead, 36 g/t silver with 0,36 g/t gold; LU-12 cut 0.40 meters from 24.00 to 24.40 meters of 1,235 g/t silver with 0.49% zinc and 0.19% lead. San Jose zone Highlights SJ-12 cut 51.9 meters from 40.60 meters to 92.50 meters averaging 0.74% zinc, 0.35 % lead and 0.27 g/t gold. Drill Hole locations A drill hole and trench location map can be found at Paramount's web site www.paramountgold.com LU-06 is a step out of approximately 50 meters to the south of LU-01 (59.0 meters averaging 2.25 g/t gold equivalent) see Oct 12, 2006 news release: * LU-07 steps out a further 45 meters south of LU-06 * LU-12 steps out a further 150 meters south of LU-07 * LU-13 steps out a further 80 meters south of LU-12 * LU-08 steps out a further 80 meters south of LU-13 * LU-11 steps out a further 25 meters south of LU-08 on the second fence line * LU-09 steps out a further 25 meters south of LU-11 * LU-10 steps out a further 40 meters south of LU-09 and is the southern most hole thus far. In the San Jose area, SJ- 12 is located 50 meters south of SJ-11. Quality Control Person Paramount takes detail photos of all the core before it is cut to half core which is assayed at ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex's Vancouver laboratory. As part of quality assurance, quality control (QAQC QAQC Quality Assurance/Quality Control QAQC Quality Assurance/Quality Checks (US DoD) ), 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. (Bill) Reed, B. Sc. Mineralogy mineralogy Scientific study of minerals, including their physical properties, chemical composition, internal crystal structure, occurrence and distribution in nature, and origins or conditions of formation. , is acting as qualified person and has prepared the detail and review with respect to this news release.
Drill Hole From To Width Gold Silver Gold Lead Zinc
(m) (m) (m) (g/t) (g/t) equivalent (%) (%)
LU - 06 0.00 7.00 7.00 0.00 31.00 0.52
42.10 58.40 16.30 0.00 13.00 0.23 1.26 2.44
58.40 73.00 14.60 2.84 7.00 2.96 0.29 0.56
73.00 83.70 10.70 0.20 0.00 0.20
115.00 118.50 3.50 2.41 0.00 2.41
LU - 07 31.00 48.50 17.50 0.03 189.00 3.18 0.26 0.87
58.00 71.00 13.00 0.86 0.00 0.86
87.00 91.50 4.50 0.64 3.00 0.68
LU - 08 0.00 8.00 8.00 0.04 50.00 0.88
8.00 21.20 13.20 0.04 19.00 0.35
78.00 85.20 7.20 0.44 4.00 0.50
LU - 09 22.15 57.00 34.85 0.13 60.00 1.12 0.49 1.26
57.00 67.75 10.75 0.01 10.00 0.18 0.47 1.14
67.75 72.00 4.25 0.27 26.00 0.71 0.88 1.91
72.00 86.70 14.70 0.01 4.00 0.07 0.13 0.41
86.70 121.05 34.85 0.59 12.00 0.80 0.46 1.69
121.05 127.50 6.45 0.19 15.00 0.45 1.08 2.10
127.50 141.30 14.00 0.00 4.00 0.06 0.25 0.71
Average 22.15 127.50 105.35 0.26 28.00 0.73 0.52 1.45
LU - 10 46.70 59.00 12.30 0.00 37.00 0.63
71.80 81.20 9.40 0.00 65.00 1.08
110.65 112.65 2.00 0.00 12.00 0.19 1.00 1.44
115.55 116.00 0.45 0.21 40.00 0.88 2.40 7.95
LU - 11 29.50 64.50 35.00 0.02 17.00 0.30 0.37 0.93
64.50 75.05 10.55 0.02 3.00 0.06 0.17 0.42
75.05 105.00 29.95 0.05 6.00 0.15 0.49 1.41
105.00 118.50 13.50 0.36 36.00 0.96 2.38 7.07
118.50 130.55 12.05 0.02 6.00 0.13 0.46 1.68
Average 29.50 130.55 101.50 0.08 13.50 0.30 0.66 1.93
LU - 12 24.00 24.40 0.40 0.20 1235.00 20.80 0.19 0.49
24.40 53.95 29.55 0.02 3.00 0.09 0.27
LU - 13 30.35 34.05 3.70 0.06 28.00 0.52 0.62 1.29
34.05 62.00 27.95 0.02 8.00 0.15 0.13 0.24
62.00 66.35 4.35 0.16 7.00 0.27 0.64 0.82
SJ - 12 0.00 9.00 9.00 0.00 21.00 0.34
28.15 30.30 2.15 0.04 70.00 1.20
40.60 45.30 4.70 0.12 7.00 0.24 0.76 1.59
56.00 72.00 16.00 0.11 4.00 0.11 0.35 0.71
72.00 92.50 20.50 0.58 2.00 0.58 0.43 0.96
97.35 105.20 7.85 0.34 0.00 0.34
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 Sierra Madre Oc·ci·den·tal A mountain range of northwest Mexico running parallel to the Pacific coastline and adjoining the Mexican plateau. It extends for about 1,609 km (1,000 mi) southward from the border of Arizona. Noun 1. . 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 Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. exploration and development company. It is management's objective to grow Paramount into a significant gold and precious metals producer by developing the San Miguel and Linda projects in Mexico and Peru, and the Andean Gold Alliance with TeckCominco in South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , 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 Noun 1. OTC market - a stock exchange where securities transactions are made via telephone and computer rather than on the floor of an exchange over-the-counter 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 Mandarin (măn`dərĭn) [Port. mandar=to govern, or from Malay mantri=counselor of state], a high official of imperial China. For each of the nine grades there was a different colored button worn on the dress cap. ). Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements contained herein which are not historical are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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. |
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