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Paramount Gold and Silver Corp's San Miguel project land package consists of 140,000 hectares in the immediate vicinity of Coeur d'Alene Palmarejo mine. As of June 2010, Paramount is in the process of completing a business combination with X-Cal Resources Ltd. X-Cal owns the Sleeper Gold mine in Neveda, a past producing open pit mine, with above ground resource in heap leach pads and tailings of 713k oz of Au and 2.7M oz of Ag. The Paramount Gold and Silver Corp. web site is at www.paramountgold.com.
This report is being prepared assuming the X-Cal deal will be completed as announced.
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This report is based on NI 43-101 resource and reserve disclosures and fully diluted share counts available on 2010-01-14.
The GoldMinerPulse metrics, presented below in table format, are based on all projects and all in situ metals and are updated daily with closing market prices.
| General Metric | Value on 2010-09-02 |
|---|---|
| In Situ Metal Value per Share (MVpSh) | US$57.87 |
| Average Ore Value per Tonne | US$28.50 |
| Metal Value Leverage (MVL) | 43.24 |
| Market Capitalization as a Percentage of Metal Value | 2.3% |
| Recent Closing Stock Price | C$1.41 [note 1] |
| Fully Diluted Share Count | 144.70 M [note 2] |
| Percentage In Situ Proven + Probable Reserve | 0% |
| Percentage In Situ Measured + Indicated Resource | 23% |
| Percentage In Situ Inferred Resource | 77% |
| Metric | Value on 2010-09-02 |
|---|---|
| Gold Reserves + Resources | 4.25 M oz |
| Average Gold Ore Grade | 0.5 g/t |
| Market Capitalization per oz of Gold In Situ | US$45.54 ( C$47.97 ) |
| Gold Equivalent Ounces Estimate | 6.69 M oz |
| Market Capitalization per oz of Gold Equivalent | US$28.94 ( C$30.49 ) |
| Metric | Value on 2010-09-02 |
|---|---|
| Silver Reserves + Resources | 128.79 M oz |
| Average Silver Ore Grade | 13.6 g/t |
| Market Capitalization per oz of Silver In Situ | US$1.50 ( C$1.58 ) |
| Silver Equivalent Ounces Estimate | 425.30 M oz |
| Market Capitalization per oz of Silver Equivalent | US$0.46 ( C$0.48 ) |
Note 1: Conversion rate used: 1 Cnd$ = 0.949244 US$
Note 2: Fully dilutes share count is from slide 5 of 13 in the Taking Paramount to the Next Level, Businss Combination with X-Cal Resources Ltd.. The combined fully diluted share count comes from the Pro-forma Financials page.
All metal counts in this section are based on the combined Proven + Probable reserves plus the Measured + Indicated and Inferred resources.
| Metric / Metal | Gold | Silver | Copper | Lead | Zinc | ||
|---|---|---|---|---|---|---|---|
| Total Counts (reserves + resources) | 4.25 M oz | 128.79 M oz | 2.64 K t | 73.82 K t | 162.65 K t | ||
| Metal Prices in US$ (from 2010-09-02) | $1,251.30 per oz | $19.69 per oz | $3.46130 per lb | $0.96240 per lb | $0.94810 per lb | ||
| Metal Value per Share (MVpSh) Shown in US$. Based on fully diluted share count | $36.78 | $17.52 | $0.14 | $1.08 | $2.35 | ||
| Percentage of Total Metal Value | 63.55% | 30.28% | 0.24% | 1.87% | 4.06% | ||
| Metal Value Percentage Proven + Probable | 0% | 0% | 0% | 0% | 0% | ||
| Metal Value Percentage Measured + Indicated | 30% | 13% | 4% | 2% | 2% | ||
| Metal Value Percentage Inferred | 70% | 87% | 96% | 98% | 98% | ||
The above metal value totals derive from the following projects.
| Project | Location | Metal Value per share (% total) | Gold | Silver | Copper | Lead | Zinc | PP% | MI% | I% |
|---|---|---|---|---|---|---|---|---|---|---|
| Sleeper | Nevada, USA | $32.92 ( 56.9% ) | 3.22 M oz | 37.49 M oz | 0 | 39% | 61% | |||
| San_Miguel | Chihuahua, Mexico | $14.49 ( 25.0% ) | 419.64 K oz | 66.65 M oz | 2.64 K t | 36.90 K t | 76.61 K t | 0 | 4% | 96% |
| San_Miguel_Clavo_99 | Chihuahua, Mexico | $6.66 ( 11.5% ) | 424.49 K oz | 18.53 M oz | 11.11 K t | 20.92 K t | 0 | 0 | 100% | |
| San_Miguel_Clavo_66 | Chihuahua, Mexico | $3.81 ( 6.6% ) | 191.52 K oz | 6.12 M oz | 25.81 K t | 65.13 K t | 0 | 0 | 100% |
PP%: percentage of metal value from Proven + Probable reserves
MI%: percentage of metal value from Measured + Indicated resources
I%: percentage of metal value from Inferred resources
Note: percentages may no add to 100% due to rounding errors
Latest NI43-101 Report: REPORT ON THE SAN MIGUEL PROJECT GUAZAPARES MINING DISTRICT CHIHUAHUA, MEXICO for PARAMOUNT GOLD AND SILVER CORP.
2008-06-13 (205 pages).
Project Location: Chihuahua, Mexico in the Sierra Madre Occidental gold/silver belt mining region. View Google Map.
Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $0.10 | 11.81 K oz | 0.270 g/t | 1.36 M t |
| Silver | $0.42 | 3.10 M oz | 71.000 g/t | 1.36 M t |
| Copper | $0.01 | 0.11 K t | 78.000 g/t | 1.36 M t |
| Lead | $0.02 | 1.50 K t | 1,100.000 g/t | 1.36 M t |
| Zinc | $0.04 | 2.86 K t | 2,100.000 g/t | 1.36 M t |
Estimate notes: See NI 43-101 p. 166 of 205.
25 g/t of silver equivalent cut off.
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $3.53 | 407.83 K oz | 0.430 g/t | 29.50 M t |
| Silver | $8.65 | 63.55 M oz | 67.000 g/t | 29.50 M t |
| Copper | $0.13 | 2.54 K t | 86.000 g/t | 29.50 M t |
| Lead | $0.52 | 35.40 K t | 1,200.000 g/t | 29.50 M t |
| Zinc | $1.07 | 73.75 K t | 2,500.000 g/t | 29.50 M t |
Estimate notes: See NI 43-101 p. 166 of 205.
25 g/t of silver equivalent cut off
Latest NI43-101 Report: TECHNICAL REPORT RESOURCE UPDATE: SAN MIGUEL PROJECT CHIHUAHUA, MEXICO
2008-11-20 (58 pages).
Project Location: Chihuahua, Mexico in the Sierra Madre Occidental gold/silver belt mining region. View Google Map.
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $1.66 | 191.52 K oz | 1.500 g/t | 3.97 M t |
| Silver | $0.83 | 6.12 M oz | 47.900 g/t | 3.97 M t |
| Lead | $0.38 | 25.81 K t | 6,500.000 g/t | 3.97 M t |
| Zinc | $0.94 | 65.13 K t | 16,400.000 g/t | 3.97 M t |
Estimate notes: See (NI) 43-101 Table 17.4.2 La Union In-Situ Contained Metals on p. 42 of 58.
1 g/t cut off
Latest NI43-101 Report: TECHNICAL REPORT RESOURCE UPDATE: SAN MIGUEL PROJECT CHIHUAHUA, MEXICO
2008-11-20 (58 pages).
Project Location: Chihuahua, Mexico in the Sierra Madre Occidental gold/silver belt mining region. View Google Map.
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $3.67 | 424.49 K oz | 2.020 g/t | 6.54 M t |
| Silver | $2.52 | 18.53 M oz | 88.200 g/t | 6.54 M t |
| Lead | $0.16 | 11.11 K t | 1,700.000 g/t | 6.54 M t |
| Zinc | $0.30 | 20.92 K t | 3,200.000 g/t | 6.54 M t |
Estimate notes: See (NI) 43-101 Table 17.3.2 San Miguel In-Situ Contained Metals on p. 42 of 58.
1 g/t cut off
Latest NI43-101 Report: SLEEPER GOLD PROPERTY
PRELIMINARY ECONOMIC ASSESSMENT 2009
2009-11-16 (395 pages).
Project Location: Nevada, USA. View the Sleeper Gold project on a Google Map.
Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $10.90 | 1.26 M oz | 0.465 g/t | 84.31 M t |
| Silver | $1.80 | 13.25 M oz | 4.890 g/t | 84.31 M t |
Estimate notes: See Table 19-12: Resource for All Blocks Classed Indicated on p. 132 of 395 in the NI 43-101 dated November 2009.
Au Cutoff 0.20 g/t.
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $10.73 | 1.24 M oz | 0.328 g/t | 117.71 M t |
| Silver | $2.93 | 21.50 M oz | 5.680 g/t | 117.71 M t |
Estimate notes: See Table 19-13: Resource for All Blocks Classed Inferred on p. 132 of 395 in the NI 43-101 dated November 2009.
Au cutoff 0.20 g/t
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $6.19 | 715.39 K oz | 0.441 g/t | 50.46 M t |
| Silver | $0.37 | 2.74 M oz | 1.686 g/t | 50.46 M t |
Estimate notes: See Table 3-2: Above-Ground Inferred Resource in Heap Leach Pad Stockpile and Mill
Tailings on p. 15 of 395 in the NI 43-101 dated November 2009.
Heap Leach Pad Stockpile and Mill Tailings
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