Tara Gold Sells Its Interest in the San Miguel Project

CHICAGO, IL, Aug 27 (MARKET WIRE) --
Tara Gold Resources Corp. (PINKSHEETS: TRGD) (FRANKFURT: T8N) is pleased
to announce that Paramount Gold and Silver Corp. has signed an agreement
to acquire Tara Gold's remaining San Miguel project interest for 7.35
million common shares of Paramount. The transaction is expected to close
on September 10, 2008, is subject to stock exchange approvals and is
contingent on completion of title transfers.

The San Miguel Project, located in Chihuahua, Mexico, is a polymetallic
resource and hosts a National Instrument 43-101 compliant resource of
108.5 million inferred ounces of silver (Eq.) or 2.085 million inferred
ounces of gold (Eq.).

Mr. Francis Biscan Jr., President of Tara Gold Resources, stated,
"Consolidation of this prospective region is the most expedient way to
realize the full potential of this discovery. With this sale, we are able
to continue to participate in the substantial upside potential of this
project, and the larger region, through Paramount's additional land
holdings, while re-directing our resources towards 100% owned projects.
San Miguel was the first mining project acquired by Tara and is now the
first project monetized at a substantial benefit to Tara Gold and its
shareholders. Our goal is to build on this success."

About Tara Gold Resources Corp.

The principal business of Tara Gold Resources Corp. is the acquisition,
exploration and development of high-quality precious metals projects with
potential for economic commercial value. Tara provides investors growth
exposure with a diversified exploration portfolio, multiple multi-million
ounce targets and several near term production scenarios. Tara Gold is
currently focused on generating revenue from the Don Ramon and Lourdes
project owned 100% by the subsidiary Tara Minerals Corp. Tara Gold is also
positioned to benefit from production start-up at Lluvia de Oro and La
Currita, the material exploration and production potential of Picacho, and
from the future advancement of La Millonaria, Las Minitas and the Curcurpe
projects in Mexico. For more information, please visit the Company's web
site at: http://www.TaraGoldResources.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: The statements contained herein which are not historical are
forward-looking statements that are subject to risks and uncertainties
that could cause actual results to differ materially from those expressed
in the forward-looking statements, including, but not limited to, certain
delays beyond the company's control with respect to market acceptance of
new technologies or products, delays in testing and evaluation of
products, and other risks detailed from time to time in the Company's
filings with the Securities and Exchange Commission.

Contact:
Website: www.TaraGoldResources.com
Investors Relations
Warren Drew
Phone: 406-844-0322
E-mail: jwjflies@centurytel.net

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