Paramount Gold Strengthens Management Team with Appointment of Senior Mining Executive.

OTTAWA, Canada -- Paramount Gold Mining Corp. (OTC: PGDP) (Frankfurt: P6G, WKN: A0HGKQ) is pleased to announce that Jean Depatie has joined the company's management team as a Senior Advisor. Mr. Depatie is a well respected senior executive with over 30 years of experience in the mining industry. He sits on the board of a number of public resource companies and was the longest serving director of Glamis Gold at the time of their recent acquisition by GoldCorp (NYSE: GG, TSX: G) in an $8 billion transaction.

Commenting on the appointment, Chris Crupi, President and CFO, stated, "Paramount is fortunate to have such an experienced, well-respected mining executive like Jean join our team. As the longest serving director of Glamis Gold, his knowledge of both Mexico and South America will prove invaluable as we position Paramount for its next phase of growth."

Mr. Depatie has over 30 years of national and international experience in economic geology. He has worked in over 30 countries and acted as a consultant for organizations such as: The United Nations, The World Bank, The Commonwealth Secretariat, The Asian Development Bank, Banco Intermericano de Desarollo, The Canadian International Development Agency and Quebec's Ministry of Natural Resources. In addition to being a past Director of Glamis Gold, Mr. Depatie is a Director of Richmont Mines Inc. (TSX & AMEX), and has been a Director of a number of other mining companies listed on both the U.S. and Canadian exchanges.

Since 1981, Mr. Depatie has been president and vice-president of several companies. He was the recipient of an award of excellence by the Quebec Department of Energy and Resources in 1990. Further, he is the former President of the Quebec Professional Association of Geologists and Geophysicists.

Mr. Depatie comments, "I have been watching the progress of Paramount for sometime, in particular their exploration program at San Miguel, a gold belt in Mexico where Glamis and others have seen considerable success. I also have a lot of experience in Peru and look forward to helping Paramount in their Andean Gold Alliance, which is a strategic alliance with Teck Cominco."

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 San Miguel project in Mexico, and the Andean Gold Alliance with Teck Cominco in South America. 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.