Paramount Enters Into Strategic Alliance With Mexoro

Paramount Enters Into Strategic Alliance With Mexoro

CHIHUAHUA, MEXICO – Paramount Gold and Silver Corp. reported that it has signed a Letter of Intent to enter into a strategic alliance with Mexoro Minerals Ltd. The strategic alliance contemplates both companies combining their mining and exploration expertise including resources such as management, personnel, exploration equipment and mining concessions to maximize shareholder value creating an exciting alignment of interest between the companies. Both companies operate projects in the Sierra Madre gold-silver belt in Chihuahua, Mexico. The synergy of this transaction will be evident as the companies work together in the Guazapares region. The combined position in the area creates a large land position allowing opportunities for exploration and development strategies.
The companies will also combine 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.
In addition, the companies will establish an exploration team to co-develop Paramount’s 86,000 hectare Andrea concession with the neighboring Mexoro Cieneguita Mine. Cieneguita was last in production by Glamis Gold Ltd. between 1995 and 1998 prior to its acquisition by Goldcorp Inc.