WINNEMUCCA, NEVADA--(Marketwire - April 11, 2011) - Paramount Gold (NYSE Amex:PZG)(TSX:PZG)(FRANKFURT:P6G)(WKN:A0HGKQ) ("Paramount") announces new NI 43-101 compliant resource estimates for its 100% owned San Miguel project in Mexico. The new estimates, prepared by Mine Development Associates (MDA) of Reno, Nevada, cover the five areas where new drilling took place in 2010, including the two most recent discoveries of San Francisco and Don Ese.