Exploratory Drilling Program To Commence On Gold Property In Peru

Paramount Gold Mining Corp. is pleased to announce that they have retained the services of Bradley - MDH to conduct its exploratory drilling program at the Santos property in Peru. This project is under option by Paramount Gold Mining Corp.'s Peruvian subsidiary Cia. Minera Paramount SAC from Teck Cominco Peru S.A. and is part of the Andean Gold Alliance agreement signed with Teck Cominco Limited in May 2006, for certain exploration properties in Chile, Argentina and Peru.