McFarlane Lake Mining Limited press release

Paramount Gold Commences Trading on OTC BB

2006-10-30

CSE - Canadian National Stock Exchange · Gold · Copper · Cobalt · Nickel · Arsenic · Canada

OTTAWA, CANADA, October 30 /CNW/ - Paramount Gold Mining Corp. (OTC:PGDP) (FWB:P6G) (WKN: A0HGKQ) is pleased to report that it will commence trading on the OTC Bulletin Board today under the stock symbol "PGDP".

Commenting on the move to a higher exchange, Chris Crupi, President & CFO, stated, "This successful achievement provides both increased liquidity and shareholder value to our growing base of investors, both in North America and internationally."

Paramount will trade on both the Bulletin Board and the Pink Sheets for a period of 30 days, after which the Company will cease to trade on the Pink Sheets. In addition to trading on the OTC Bulletin Board, Paramount also trades in Europe on the Frankfurt Exchange under the stock symbol "P6G".

About Paramount Gold

Paramount Gold Mining Corp. is a precious metals exploration and development company. It is management's objective to grow Paramount into a significant gold and precious metals producer by developing the Andean Gold Alliance with Teck Cominco in South America, the San Miguel and Linda projects in Mexico and Peru, and by acquiring other advanced-stage projects and/or producing mines in the most prolific precious metal districts in the world. The Company trades on the OTC market under the symbol "PGDP" and on the Frankfurt Exchange under the symbol "P6G". For more information, please visit the Company's web site at: www.paramountgold.com (now available in the following languages: English, German, French, Spanish, and Mandarin).

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.