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Message: Paramount Announces earn-in agreement with SNS

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Paramount Announces earn-in agreement with SNS

posted on Dec 17, 09 02:02PM

Press Release Source: Paramount Gold and Silver Corp. On Wednesday December 16, 2009, 11:00 pm EST

OTTAWA, CANADA--(Marketwire - 12/16/09) - Paramount Gold and Silver Corp. ("Paramount Gold") (AMEX:PZG - News)(TSX:PZG - News) (Frankfurt:P6G - News) has entered into an earn in option agreement with SNS Silver Corporation (TSX-V:SNS - News) where Paramount has the sole and exclusive right and option to earn up to 30% of SNS's interest in the Emerald Lake Gold project by spending and incurring exploration expenditure on the claims of C$1.4 Million.

Paramount has decided not to move forward with their Vidette Lake project near Kamloops, BC. This new agreement with SNS will satisfy Paramounts flow through obligations for 2009.

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