On October 11, 2011, Rudi Fronk announced to Paramount Gold and Silver Corp. that he would not stand for reelection to the Board of Directors for personal reasons. Mr. Fronk served on the nominating, corporate governance and compensation committees.

Paramount Gold and Silver Corp. (the "Company") held its annual shareholder meeting on December 2, 2011. Of the 136,787,012 shares outstanding and entitled to vote at the meeting, 94,190,808 shares or 68.85% were voted.

At the annual shareholder meeting, the shareholders of the Company were asked to consider and vote on five proposals. The election results for each proposal were as follows:

Proposal #1: Election results for the directors nominated at the meeting are as follows:

                                            Share Voted
Name of Nominee                  For         Withheld       Broker Non-Votes
Christopher Crupi         50,201,121          539,568             43,450,119
Michel Stinglhamber       47,937,683        2,803,006             43,450,119
John Carden               50,363,937          376,752             43,450,119
Robert Dinning            38,271,749       12,468,940             43,450,119
Christopher Reynolds      50,360,637          380,052             43,450,119
Eliseo Gonzalez-Urien     47,894,384        2,812,606             43,450,119
Shawn Kennedy             46,894,384        3,846,305             43,450,119

Proposal #2: Election results for the ratifications of the appointment of MNP LLP as our independent registered public accountants for the year ended June 30, 2012 are as follows:

For Against Abstain Broker Non-Votes 93,336,042 452,807 401,959 0

Proposal #3: Election results for the ratification of the 2011/2012 Stock Incentive and Equity and Compensation Plan are as follows:

For Against Abstain Broker Non-Votes 40,124,546 10,339,206 276,937 43,450,119

Proposal #4: Election results for the advisory vote on executive compensation are as follows:

For Against Abstain Broker Non-Votes 48,804,096 1,620,178 316,415 43,450,119

Proposal #5: Election results for the frequency of the advisory vote on executive compensation area as follows:

1 Year 2 Years 3 Years Abstain 47,645,752 576,873 2,264,726 253,338