8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  April 30, 2008

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PARAMOUNT GOLD AND SILVER CORP.

(Exact name of registrant as specified in its charter)

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Delaware	0-51600	20-3690109
(State or Other Jurisdiction	(Commission	(I.R.S. Employer
of Incorporation)	File Number)	Identification No.)

346 Waverley Street, Ottawa, Ontario Canada, K2P 0W5

(Address of Principal Executive Office) (Zip Code)

(613)  226-9881

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Forward Looking Statements

     Certain  statements  included  in this Form 8-K regarding  Paramount Gold and Silver Corp.  ( the “Company”) that are not  historical  facts are  forward-looking statements,  including  the  information  provided  with  respect  to the future business  operations  and  anticipated  operations  of the Company.    These forward-looking  statements are based on current expectations, estimates,  assumptions and beliefs of management,  and words such as "expects," "anticipates,"   "intends,"   "plans,"   "believes,"   "estimates"  and  similar expressions  are intended to identify  such  forward-looking  statements.   These forward-looking  statements involve risks and uncertainties,  including, but not limited  to,  the  success  of our  current  or  proposed  business  activities.  Accordingly, actual results may differ.

Item 8.01  Other Events.

On April 30, 2008, Depository Trust Corporation resumed providing services for the Company.  The Company is now in compliance with  (i) Section 136 of the Amex Company Guide which states that all listed companies are subject to the Amex book entry settlement requirements as set forth in Amex Rule 776, and (ii)  Section 137 of the Amex Company Guide which states that all listed companies are subject to the Amex depository eligibility requirements  set form in Amex Rule 777.   

As a result of DTC resuming services, the  AMEX issued a resumption of trading notice.     

Exhibit 99.1

Press release dated April 30,  2008

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Paramount Gold and Silver Corp.
By:	/s/ Christopher  Crupi
	Christopher  Crupi Chief Executive Officer

Date:  April 30, 2008  

EX-99.1

Exhibit 99.1

Paramount Gold and Silver Corp. to Resume Trading at

 1:00 PM EDT April 30, 2008

Ottawa, Canada – (MarketWire) – April 30,  2008 – Paramount Gold and Silver Corp. (AMEX: PZG) (TSX: PZG) is pleased to announce that it has resolved all issues with the Depository Trust Corporation (“DTC”)  and that full services have resumed with DTC.  In conjunction with the resumption of services, the AMEX is issuing a resumption of trading notice.    The trading of Paramount’s common stock will resume trading on both the American Stock Exchange and on the TSX.   

About Paramount

Paramount Gold is a precious metals mining exploration company presently in the early stages of an extensive exploration program at their San Miguel project in the Guazapares Mining District, part of the Sierra Madre Occidental gold-silver belt of Mexico.  Paramount Gold and Silver Corp. is the operator of the San Miguel project, which is a joint venture with Tara Gold Resources Corp. (OTC: TRGD.PK) (30%) who is required to contribute 30% of exploration costs to maintain their interest.

The Toronto Stock Exchange has not reviewed and therefore does not accept responsibility for the adequacy or accuracy of this release.

"Safe-Harbor" Statement: This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company may not be realized. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially.

Contacts:

Paramount Gold and Silver Corp.
Christopher Crupi, CEO
Chris Halkai, Corporate Relations
866.481.2233
613.226.9881