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VANCOUVER, BRITISH
COLUMBIA--(Marketwire - July 19, 2010) - Detailed information about the
proposed acquisition of X-Cal Resources Ltd. (TSX:XCL) by Paramount
Gold and Silver Corporation (NYSE.A & TSX: PZG) and voting
materials have been mailed to shareholders.
X-Cal's March 8, 2010 press release the set out the objective of
bringing a development team for our Nevada Gold Properties.
On June 22, 2010 X-Cal Resources Ltd. and Paramount Gold and Silver
Corporation announced the proposed acquisition of X-Cal by Paramount. The
elements that we have been seeking to advance the Nevada gold
properties and bring increased liquidity are the present in the
combination.
The board of directors of X-Cal has unanimously recommended voting for
the transaction. An independent committee and a fairness opinion were
part of the process. Shawn Kennedy will become a director of Paramount
after closing and can answer questions regarding plans for moving the
projects ahead.
Georgeson Shareholder Communications Canada Inc. has been retained to
assist X-Cal shareholders with the voting process. If you have
questions about the information circular, or require assistance in
completing your proxy form please contact: Georgeson North American
toll free number: 1-888-605-8405 or Email: askus@georgeson.com
The Annual and Special Meeting date is set for August 19, 2010.
If you are not able to attend in person, please vote your shares well
in advance of the meeting.
Shawn Kennedy, President
Caution Concerning Forward-Looking Statements
The contents of this release have been reviewed by Larry Kornze, P.
Eng, a Qualified Person as defined by NI 43-101.
This release and related documents may contain certain
"forward-looking statements" including, but not limited to,
statements relating to interpretation of drilling results and potential
mineralization, future exploration work at the Sleeper Gold Project,
the Mill Creek Gold Project, the Reese River Project and the Spring
Valley Area Project and the expected results of this work. Forward
looking statements are statements that are not historical facts and are
subject to a variety of risks and uncertainties which could cause
actual events or results to differ materially from those reflected in
the forward-looking statements, including, without limitation: risks
related to fluctuations in gold prices; uncertainties related to
raising sufficient financing to fund the planned work in a timely
manner and on acceptable terms; changes in planned work resulting from
weather, logistical, technical or other factors; the possibility that
results of work will not fulfill expectations and realize the perceived
potential of the Sleeper Gold Project, the Mill Creek Gold Project, the
Reese River Project and the Spring Valley Area Project; uncertainties
involved in the interpretation of drilling results and other tests; the
possibility that required permits may not be obtained in a timely
manner or at all; risk of accidents, equipment breakdowns or other
unanticipated difficulties or interruptions; the possibility of cost
overruns or unanticipated expenses in the work program; the risk of
environmental contamination or damage resulting from the exploration
operations at the Sleeper Gold Project, the Mill Creek Gold Project,
the Reese River Project and the Spring Valley Area Project.
Forward-looking statements contained in this release and related
documents are based on the beliefs, estimates and opinions of
management on the date the statements are made. There can be no
assurance that such statements will prove accurate. Actual results may
differ materially from those anticipated or projected. X-Cal Resources
Ltd. and X-Cal USA, Inc. undertake no obligation to update these
forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change.
SHAREHOLDERS may VOTE by MAIL, TELEPHONE, or VIA THE INTERNET
IF YOU HAVE QUESTIONS ABOUT THE INFORMATION CIRCULAR or REQUIRE
ASSISTANCE IN COMPLETEING YOUR PROXY FORM, PLEASE CONTACT GEORGESON
SHAREHOLDER COMMUNICATIONS:
GEORGESON
North American Toll Free Number: 1-888-605-8405
Email: askus@georgeson.com
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