Paramount Gold and Silver Corp. Resumes Trading on the American Stock Exchange

Market Wire, March, 2008

Paramount Gold and Silver Corp. (TSX: PZG)(AMEX: PZG)(FRANKFURT: P6G)(WKN: A0HGKQ) is pleased to announce the resumption of trading of its common stock on the American Stock Exchange. Trading resumed on Friday, March 28, 2008, at 9:30am EDT under the symbol PZG.

About Paramount

Paramount Gold is a precious metals mining exploration company presently in the early stages of an extensive exploration program at their San Miguel and Andrea projects in the Guazapares Mining District, part of the Sierra Madre Occidental gold-silver belt of Mexico. Paramount has completed over 31,500 meters of core drilling (7000 m before April 2007), totaling 170 drill holes on the project, with results pending on approximately 16 holes. In April 2007, Paramount began a 50,000 meter drill program, of which 24,500 meters have been completed to date.

"Safe-Harbor" Statement: This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company may not be realized. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially.

Contacts: Paramount Gold and Silver Corp. Christopher Crupi, CEO Chris Halkai, Corporate Relations 866-481-2233 613-226-9881