Sleeper Gold Mine

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August 23, 2010
Paramount Gold & Silver announced that further previously announced acquisition of X-Cal Resources has been approved by 100% of the X-Cal shareholders present or represented by proxy at its recent meeting. The Supreme Court of British Columbia has approved the transaction and the acquisition is now closed.

November 25, 2009
X-Cal announced that the company has filed a NI 43-101 Preliminary Economic Assessment and Technical Report on the Sleeper Gold project, Nevada, USA. The study considers a project that produces approximately 590,000 ounces of gold with a mine life of 6.5 years, at an average cash cost of $324 per ounce (after silver credit). The present production plan establishes new heap leach operations and new milling and floatation operations.

October 19, 2009
X-Cal has received a Preliminary Economic Assessment of the Sleeper Gold Project. The PEA demonstrates that the Sleeper Gold Project in Nevada has the potential to be a “viable project” based on the existing NI 43-101 compliant resources. A graph in the new report shows a “robust business case, which is most sensitive to metal prices and heap leach process cost”. The complete NI 43-101 document will be filed to SEDAR within 45 days. The study considers a project that produces approximately 590,000 ounces of gold with a mine life of 6.5 years, using a selling price of $800 per ounce of gold at an average cash cost of $324 per ounce (after silver credit). Capital costs are estimated at $86 million.

www.infomine.com/index/properties/SLEEPER_PROJECT.html
www.paramountgold.com
www.x-cal.com