Mexoro Minerals Receives Additional Payment From Its Strategic Alliance With Paramount Gold and Silver Corp.

    CHIHUAHUA, Mexico, July 16 /EMWNews-FirstCall/ -- Mexoro Minerals

Ltd. (OTC Bulletin Board: MXOM) (Frankfurt: OYA1) Receives Additional

Payment From Its Strategic Alliance With Paramount Gold And Silver Corp.



    Mexoro Minerals is pleased to announce that Paramount Gold and Silver

Corp. (Amex: PZG) (TSX: PZG) (Frankfurt: P6G, WKN: A0HGKQ) has advanced an

additional $500,000 pursuant to its strategic alliance with Mexoro

Minerals. This additional advance will allow Mexoro to continue with its

ongoing drill program on both its Cieneguita and Guazapares projects. The

funds are advanced by way of a secured convertible debenture which bears

interest at a rate of 8% per annum for a term of one year. Paramount will

have the option to convert the debt into units as part of the overall

financing. Along with this additional advance, Mexoro has agreed to extend

the closing deadline of the strategic alliance transaction until August 5,

2008 with Paramount's continued commitment to fund Mexoro's operating

expenses.



    Chris Crupi, president of Paramount Gold and Silver Corp. comments, "We

are pleased to advance additional operating capital to Mexoro, which will

be used towards the co-development of the Mexican projects, specifically

the Guazapares project which lies in the vicinity of our San Miguel project

in Mexico."



    This Press Release contains certain forward-looking statements within

the meaning of the Private Securities Litigation Reform Act of 1995. The

Company has tried, whenever possible, to identify these forward-looking

statements using words such as "anticipates," "believes," "estimates,"

"expects," "plans," "intends," "potential" and similar expressions. These

statements reflect the Company's current beliefs and are based upon

information currently available to it. Accordingly, such forward-looking

statements involve known and unknown risks, uncertainties and other factors

which could cause the Company's actual results, performance or achievements

to differ materially from those expressed in or implied by such statements.

The Company undertakes no obligation to update or advise in the event of

any change, addition or alteration to the information catered in this Press

Release including such forward-looking statements.



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