News Releases
Jun 26, 2008 CHIHUAHUA, MEXICO - (PR NEWSWIRE) - JUNE 26, 2008 -- Mexoro Minerals Ltd. Receives Additional Payment From Its Strategic Alliance With Paramount Gold And Silver Corp. (MXOM.OB) (Frankfurt: OYA1). Mexoro Minerals is pleased to announce that Paramount Gold and Silver Corp. (AMEX: PZG) (TSX: PZG) (Frankfurt: P6G, WKN: A0HGKQ) has advanced an additional $370,000 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 July 21, 2008 with Paramount's continued commitment to fund Mexoro's operating expenses. Chris Crupi, president of Paramount Gold and Silver says, "Although we have extended the closing date for the contemplated financing with Mexoro, it is our full intention to complete the financing opportunity by July 21, 2008. We remain very excited about our alliance with Mexoro and the investment in the company." 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. Corporate Headquarters Mexoro Minerals Ltd. C. General Retana #706 Col. San Felipe, C.P. 31203 Chihuahua, Chih., Mx Investor Relations +1 (613) 288-4288 | |