Mexoro Minerals Receives First Payment in Its Strategic Alliance With Paramount Gold and Silver Corp.

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Mexoro Minerals Receives First Payment in Its Strategic Alliance With Paramount Gold and Silver Corp.
    CHIHUAHUA, Mexico, May 12 /PRNewswire-FirstCall/ -- Mexoro Minerals
Ltd. Receives First Payment In Its Strategic Alliance with Paramount Gold
and Silver Corp. (Trading Symbol: MXOM.OB).

    Mexoro Minerals is pleased to announce that Paramount Gold and Silver
Corp. (Amex: PZG; TSX) (Frankfurt: P6G, WKN: A0HGKQ) has advanced the
initial $500,000 pursuant to its strategic alliance with Mexoro Minerals
(OTC Bulletin Board: MXOM; Frankfurt: OYA1). This initial advance will
allow Mexoro to continue with its ongoing drill program. The secured
convertible debenture 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. Paramount will retain the first right of
refusal on all future financings of Mexoro for a period of four years.

    About Paramount

    Paramount Gold is a precious metals mining exploration company
presently in the early stages of an extensive exploration program at their
San Miguel project in the Guazapares Mining District, part of the Sierra
Madre Occidental gold-silver belt of Mexico. Paramount Gold and Silver
Corp. is the operator of the San Miguel project, which is a joint venture
with Tara Gold Resources Corp. (30%) who is required to contribute 30% of
exploration costs to maintain their interest.

    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
     +52 (614) 426 5505
SOURCE Mexoro Minerals Ltd.