CHICAGO, IL -- (MARKET WIRE) -- 08/27/08 -- 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