Mexoro Minerals Ltd. Enters Into Agreement to Sell Its Guazapares Project for $5.3 Million

CHIHUAHUA, MEXICO, May 19 (MARKET WIRE) --
Mexoro Minerals Ltd. (OTCBB: MXOM) (FRANKFURT: OYA1) is pleased to
announce that it has entered into a letter of agreement to sell its
Guazapares project located in southwestern Chihuahua, Mexico to Paramount
Gold de Mexico, SA de C.V., the Mexican subsidiary of Paramount Gold and
Silver Corp. ("Paramount") for a total consideration of up to $5.3
million USD. The sale is subject to the signing of a definitive agreement
by May 29, 2009 and to satisfaction of various conditions precedent prior
to closing. Closing is scheduled prior to the end of June 2009 and a 5.7%
commission is payable on the closing of the sale.

Mexoro's Guazapares project comprises 12 claims close to Paramount's San
Miguel discovery. The purchase price is to be paid in two stages. The
first payment of $3.7 million will be deposited into escrow at closing,
and will be released from escrow to Mexoro when the transfer of the 12
claims to Paramount is finalized. An additional payment of $1.6 million
is due to Mexoro if, within 36 months following execution of the letter
of agreement, either (i) Paramount Gold de Mexico SA de C.V. is sold by
Paramount, either through a stock sale or a sale of substantially all of
its assets, or (ii) Paramount's San Miguel project is put into commercial
production.

Barry Quiroz, President of Mexoro, stated, "The sale of the properties to
Paramount is a good deal for Mexoro. Our main focus is completing our
feasibility study at Cieneguita and ramping up production there. The
initial cash payment from Paramount, while not diluting shares for
existing investors, will provide Mexoro with additional working capital
to explore its existing properties, retire debt and allow us to pursue
additional attractive properties."

About Paramount Gold and Silver Corp.

Paramount Gold and Silver Corp. is a well financed precious metals
exploration company listed on the Toronto Stock Exchange (TSX) and the New
York Stock Exchange (NYSE.A) under the symbol "PZG," and quoted on the
Deutsche Borse under the symbol "P6G."

Paramount holds a 100% interest in the San Miguel Project. Its geologic
team has been evaluating targets on all of their land holdings in the
Guazapares Mining District, part of the Sierra Madre gold-silver belt in
Chihuahua, Mexico. The company plans to begin further exploration in May
2009 with a focus on building a 5 to 10 million ounce gold resource.
Paramount's most recent mineral resource estimate at San Miguel in
November 2008 increased to 2,645,000 ounces of gold equivalent.

About Mexoro:

Mexoro Minerals Ltd. is an exploration stage company focused on exploring
for precious metals in the traditionally mineral rich Sierra Madre region
of Chihuahua, Mexico, which controls three historical gold-silver mines
for which additional exploration has confirmed significant mineral
potential. The Company also has claims on additional properties in the
state of Chihuahua. For more information please visit www.mexoro.com.

This Press Release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. The
Company has tried, whenever possible, to identify these forward-looking
statements using words such as "anticipates," "believes," "estimates,"
"expects," "plans," "intends," "potential" and similar expressions. These
statements reflect the Company's current beliefs and are based upon
information currently available to it. Accordingly, such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which could cause the Company's actual results, performance or
achievements to differ materially from those expressed in or implied by
such statements. The Company undertakes no obligation to update or advise
in the event of any change, addition or alteration to the information
included in this Press Release including such forward-looking statements.

Contact:
Stanley Wunderlich
Consulting for Strategic Growth 1
T: 646-205-7765 (Direct)
T: 800-625-2236 (ext 7770)
Email: Email Contact

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