Capped at $13m, 400,000 ounces of gold at 13.96 g/t, silver and...

Capped at $13m, 400,000 ounces of gold at 13.96 g/t, silver and zinc.

Money already spent on mine developement by previous owners!

Drilling underway on a possible 30 hole program!

Initial drilling results soon as drilling started over a month ago!

Some previous big gold hits by previous owners!

Very modest resource calculations given all exploration was done before latest JORC code came in. Several intersections not included in resource calculations!

Potential for a much larger resource through further drilling and test work!

Highlights:
?? First stage due diligence confirms the high grade nature of the Gunung Rosa gold/silver/ base metals deposit and potential for strike extensions
?? Resources and Reserves previously announced to the ASX in 1992 were:
o Measured, Indicated and Inferred Resource of 799,348 tonnes @ 13.96 g/t gold and 3.38% zinc for 358,832 ounces gold and 26,998 tonnes zinc, including
o Proved and Probable Reserves of 400,000 tonnes @ 11.41 g/t gold and 3.03% zinc for 146,690 ounces gold and 12,130 tonnes zinc
?? Over 2,500 metres of vertical and level development completed at the mine (Figure 5)
?? Mineralisation developed on a number of levels over 900 metres strike length and open to the north and south and at depth
?? 34 of the historic diamond holes that intersected the mineralised vein returned average grades of 14.7 g/t gold, 34.4 g/t silver & 3.7% zinc with average true thickness of 2.26m
?? As there has been no material work on the project since 1997, advances in mineral extraction techniques will be assessed to enhance recoveries
?? Paramount has started a program of diamond drilling holes to validate the historical results