Paramount Gold and Silver Corp. (Paramount) is an exploration stage mining company with projects in northern Nevada and Chihuahua, Mexico. Through its wholly owned Mexican subsidiary, Paramount Gold de Mexico S.A. de C.V., the Company owns a 100% interest in the San Miguel property. The San Miguel Project is located in southwestern Chihuahua in Northern Mexico. The project is about 20 kilometers north of the town of Temoris, adjacent to the village of Guazapares. It is in the Guazapares mining district, which is part of the Sierra Madre Occidental gold-silver belt. The San Miguel project consisted of 17 smaller concessions clustered near Guazapares, Chihuahua with a total area of 427 hectares, plus the much larger Andrea, Gissel and Isabel concessions. On August 23, 2010, the Company acquired X-Cal Resources Ltd. (X-Cal).