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Paramount Gold endorses and underwrites GATA's work
10:18p ET Wednesday, September 13, 2006
Dear Friend of GATA and Gold:
GATA is thrilled to have just received a formal endorsement and financial support from another precious metals exploration company -- Paramount Gold Mining Corp., which has quite a number of prospective properties in Mexico and South America.
Paramount Gold's president and chief financial officer, Chris Crupi, explains it this way: "I believe the work GATA is doing is of great benefit to the gold community. I am impressed with their informative communications and feel they go a long way in keeping gold investors abreast of the most important factors influencing the precious metals
markets."
Thank you, Paramount Gold.
Some information about the company is appended.
CHRIS POWELL, Secretary/Treasurer
Gold Ant-Trust Action Committee Inc.
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Paramount Gold Mining Corp.
Paramount Gold trades on the OTC market as PGDP and on the Frankfurt Exchange as P6G. It is a fully reporting company now seeking a listing on a senior exchange.
The company is a very aggressive junior miner and has achieved more in its first year of operation than most companies do in two or three years. It has 31 million shares outstanding and its closing price Wednesday was US$2.60.
Paramount has an active drill program under way at its San Miguel project in Mexico near Gammon Lake and Palmarejo. Paramount believes it is in the middle of a major gold and silver discovery, with Drill Hole SL-02 reporting 35.5 grams of gold over 4.0 meters, with a channel sample (43-101-reported) of 85.2 grams of gold and 339 grams of silver across 15 meters. There were recent silver drill intersects of 874 grams over 5.2 meters and 553 grams over 6.5 meters
Teck Cominco, the $18 billion mining conglomerate, chose Paramount to form the Andean Gold Alliance in South America. Paramount has right of first refusal on Teck Cominco's South American properties, including 21 properties in Chile, Argentina, and Peru. Field work has identified five properties with high potential, and drilling is being planned for early next year.
Paramount may earn a 100-percent interest in any of the properties, subject to a 2 percent net smelter royalty. Teck Cominco has a back-in right to 60 percent if Paramount spends $3 million on any individual property. Teck Cominco must reimburse twice Paramount's expenditure, which will enable Teck to increase its interest to 70 percent by completing a feasibility study.
Paramount also has a joint venture with Barrick Gold on the Linda property in Peru, a low-grade multi-million ounce target where Paramount is advancing to a second round of drilling after hitting on four of the first five drill holes, registering results including 2.75 grams per ton over 12.7 meters.
Paramount attributes its success to a strong geological and technical team, which, in Mexico, includes mostly former Hecla Mining Co. people, including Hecla's former chief chief geologist in Mexico, Charles Reed. In South America the Paramount team is mostly former Barrick people, including Barrick's former senior geologists Alain Vachon and Marc Slauenwhite.
For more information about Paramount Gold, visit:
For a report on the San Miguel project in Mexico, visit:
www.playstocks.net/RTRV127.1MexicoJun2006.asp
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