Paramount Gold Announces Plan for its 50,000 Meter Drilling Program at its San Miguel Project, Mexico

    OTTAWA, March 19 /CNW/ - Paramount Gold Mining Corp.
(OTC:PGDP)(Frankfurt:P6G)(WKN:A0HGKQ), is pleased to announce that it plans to
drill a total of 50,000 meters in 2007 on the San Miguel project, using a
combination of core and reverse circulation methods.

    Layne Christensen (Layne de Mexico, S.A de C.V)
has committed the necessary drills to Paramount Gold to execute this program.
Founded over 100 years ago, Layne Christensen Company's Mineral Exploration
provides drilling services for geological assessment, in-situ mining and
mineral exploration with over 150 drilling rigs worldwide.

    Paramount's objectives in the upcoming drill program at San Miguel are to
upgrade and expand their present inferred resource by infill and down-dip
drilling, to extend the known mineralized zones along strike, and to find new
zones by drilling the untested portions of the primary mineralized structural

    Paramount COO, Larry Segerstrom stated: "We are very fortunate to be
working with Layne de Mexico to provide the necessary drill equipment and
crews to achieve our drilling goals this year."

    About Paramount Gold

    Paramount Gold is a precious metals exploration company trading on the
OTCBB under the symbol PGDP and listed on the Frankfurt stock exchange under
the symbol P6G (WKN: A0HGKQ). The Company's objectives are to explore and
develop the San Miguel project, located in Chihuahua, Mexico within the Sierra
Madre Occidental gold/silver belt and fully develop the potential of the
strategic alliance with Teck Cominco for gold exploration in South America.
For more information, please visit the Company's web site at: (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 commencement of drilling
operations, concentration in mineral deposits, delays in testing and
evaluation of ore samples, and other risks detailed from time to time in the
Company's filings with the Securities and Exchange Commission.

For further information:

For further information: Paramount Gold Mining Corp. Larry Segerstrom,
623-225-7865 COO Chris Halkai, 1-866-481-2233 (Toll-free) or 613-226-9881
Corporate Relations

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890