Item 5.07. Submission of Matters to a Vote of Security Holders.

This Current Report on Form 8-K/A (Amendment No. 1) is being filed by Paramount Gold and Silver Corp. (the "Company") as an amendment to the Company's Current Report on Form 8-K filed on February 22, 2012, to update information disclosed under "Item 5.07 Submission of Matters to a Vote of Security Holders" regarding the results of voting at the Company's annual meeting of stockholders held on December 2, 2011 (the "Annual Meeting").

At the Annual Meeting, the Company's stockholders voted on, among other matters, a proposal regarding the frequency of future non-binding stockholder advisory votes on the compensation of the Company's named executive officers-or future "say-on-pay" votes. As previously reported by the Company, a majority of the votes cast on the frequency proposal were cast in favor of holding the "say-on-pay" votes on an annual basis.

In consideration of the stockholder vote at the Annual Meeting on the frequency proposal, the Company has decided that it will hold a non-binding advisory "say-on-pay" vote on an annual basis until the next stockholder vote on the frequency of "say-on-pay" votes, which will be no later than the Company's annual meeting of stockholders in 2012.