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November 27, 2015 3:22 AM ET

Metals and Mining

Company Overview of Coeur San Miguel Corp.

Company Overview

Paramount Gold and Silver Corp., an exploration stage company, acquires, explores, and develops gold, silver, and precious metal properties in the United States and Mexico. The company owns a 100% interest in the San Miguel property that comprises 40 mining concessions covering approximately 142,567 hectares located in southwestern Chihuahua, northern Mexico. It also holds interests in the Sleeper Gold project located in northern Nevada; the Mill Creek property, which consists of 36 unpatented lode mining claims covering 720 acres located to the south of Battle Mountain Nevada; and the Spring Valley property that includes 38 unpatented lode mining claims located in Pershing County, Nevada. T...

665 Anderson Street

Winnemucca, NV 89445

United States

Founded in 2005



Key Executives for Coeur San Miguel Corp.

Corporate Secretary
Age: 49
Senior Technical Advisor
Senior Advisor
Director, Chairman of Nominating Committee, Member of Compensation Committee and Member of Corporate Governance Committee
Age: 81
Compensation as of Fiscal Year 2015.

Coeur San Miguel Corp. Key Developments

Paramount Gold and Silver Corp., Special/Extraordinary Shareholders Meeting, Apr 17, 2015

Paramount Gold and Silver Corp., Special/Extraordinary Shareholders Meeting, Apr 17, 2015., at 10:00 US Eastern Standard Time. Location: The Westin Hotel. Agenda: To consider and vote on the acquisition of Paramount by Coeur and related proposals.

Paramount Gold and Silver Reports Drill Results from San Miguel Project

Paramount Gold and Silver reported results from the last five holes drilled under its 2014 program at the San Francisco deposit of its San Miguel project in Mexico. The firm reported that drilling expanded bulk tonnage at San Francisco. A total of 10 holes were drilled during the program, and all holes returned mineralized intercepts. The August 2014 Preliminary Economic Assessment for the San Miguel Project was prepared by Metal Mining Consultants Inc. of Denver, Colorado and incorporated a resource model developed by Mine Development Associates of Reno, Nevada. The PEA added an efficient, inexpensive open pit, heap leach operation to the front end of the production scenario. The heap leach operation enabled the PEA to incorporate the San Francisco Deposit into the project design to help fund underground mining and related mill construction from cash flow. The result was a substantial increase in measured, indicated and inferred resources compared to the 2013 PEA also prepared by MMC. For San Francisco, the PEA envisions mining from two main open pits; oxide and mixed oxide/sulfide material would be processed using the inexpensive heap leach technology while higher grade sulfide material would go to the project's mill for better recoveries. With the addition of San Francisco to the project design, in 2014 Paramount drilled 10 new core holes totaling 2,529 meters outside the deposit's current resource with the aim of expanding it with the potential of mining the deposit through a single, larger open pit. All 10 holes returned long mineralized intercepts. Paramount believes that the San Francisco heap leach scenario constitutes an inexpensive option to increase gold and silver production in a combined San Miguel/Palmarejo operation. Paramount and Coeur Mining Inc. have entered into an agreement and plan of merger, dated as of December 16, 2014 pursuant to which Coeur will acquire all of the issued and outstanding shares of common stock of Paramount and the San Miguel Project. As a condition to closing the Merger, the shares of Paramount's subsidiary holding its Nevada mining assets will be spun-off to holders of Paramount's common stock. Pursuant to the Merger Agreement, Coeur will acquire each share of outstanding Paramount common stock from Paramount's stockholders in exchange for 0.2016 of a share of Coeur common stock. In addition, Paramount stockholders will receive their pro rata share of the outstanding shares of an existing subsidiary or a newly incorporated subsidiary of Paramount. SpinCo will hold Paramount's interest in the Sleeper Gold, Mill Creek and Spring Valley Projects in Nevada and will be capitalized with $10 million in cash from Coeur. Upon completion of the Merger, Paramount stockholders will hold, in aggregate, a 95.1% interest in SpinCo and Coeur will hold the remaining 4.9%. An ongoing quality control/quality assurance protocol is being employed for the program including blank, duplicate and reference standards in every batch of assays. Cross-check analyses are being conducted at a second external laboratory on 10% of the samples. Samples are being assayed at ALS Chemex and Acme Laboratories, Vancouver, B.C., using fire assay atomic absorption methods for gold and aqua regia digestion ICP methods for other elements.

Paramount Gold and Silver Corp. Drilling Intersects New Mineralization at Don Ese Deposit Adjacent to Coeur's Guadalupe Mine

Paramount Gold and Silver Corp. reported that each of the last three core holes in its 2014 drill program have intercepted gold and silver mineralization. These holes targeted the higher grade Don Ese deposit, located on its 100%-owned San Miguel Project in northern Mexico immediately adjacent to Coeur Mining's Palmarejo Mine Complex. DS-052 and DS-053 were infill holes drilled to upgrade the mineralized material estimate while DS-051 successfully tested the Don Ese vein at depth, effectively expanding the length of the known mineralization. The most recent program of infill and exploration drilling at Don Ese and the nearby Dana discovery totalled 4,364 meters in eight holes. The results are expected to increase the total mineralized material at each deposit. Drilling at Dana has discovered a further mineralized occurrence which appears to be an offshoot of Don Ese, and these zones could be exploited in tandem. Coeur has stated that it plans to develop Don Ese by a 1,000 meter decline adjacent to the existing Guadalupe surface infrastructure at an initial cost of approximately $15 million, and anticipates initial production from Don Ese by the end of 2015, ramping up to 2,500 tons per day by the end of 2017. Coeur recently announced an initial resource at its Independencia deposit, which represents the northwest extension of Don Ese.

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