Paramount Gold Signs Chief Geologist for an Additional Two Years

    OTTAWA, April 3 /CNW/ - Paramount Gold Mining Corp.
(OTCBB:PGDP)(Frankfurt:P6G)(WKN:A0HGKQ), is pleased to announce that Charles
William (Bill) Reed, Director and VP Exploration, Mexico, has agreed to extend
his contract with Paramount Gold Mining Corp. for an additional two years.
Bill Reed will continue to oversee Paramount's San Miguel project in Mexico
while continuing to aggressively build the Company's land property portfolio.

    Mr. Reed has been a catalyst in the acquisitions and recent discoveries
at Paramount's San Miguel project in Chihuahua, Mexico.

    Bill Reed has significant mining experience in Mexico, as he was formerly
Chief Geologist - Mexico for Minera Hecla a subsidiary of Hecla Mining
(NYSE:  HL) from 1998 to 2004, and Regional Geologist, Mexico and Central
America for Echo Bay Exploration from 1993 to 1998. While at Hecla, Mr. Reed
supervised detailed exploration at the Noche Buena project in Sonora, and the
San Sebastian silver and gold mine in Durango. He also discovered and drilled
the Don Sergio vein that was later put into production. While at Echo Bay, Mr.
Reed identified the potential of the Dolores mining district, Chihuahua,
Mexico and recommended acquisitions that resulted in the discovery of more
than 44 million ounces of silver and 2.5 million ounces of gold.

    Mr. Reed has a Bachelor of Science Degree in Mineralogy from the
University of Utah and is a Registered Professional Geologist in the State of
Utah. He is also fluent in Spanish.

    About Paramount Gold

    Paramount Gold is a precious metals exploration company quoted 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, concentraion 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. Christopher Crupi,
CEO Chris Halkai, Corporate Development 613-226-9881

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