Paramount Gold Progresses on Grassy Mountain Gold Project

Paramount Gold Advances Grassy Mountain Gold Project

Paramount Gold Nevada Corp. (NYSE American: PZG) recently announced significant progress regarding its Grassy Mountain project. During a state Technical Review Team (TRT) meeting, the Environmental Evaluation (EE) was officially approved, initiating a 225-day timeline for the issuance of draft permits. This approval is a crucial step as Paramount moves toward obtaining necessary permissions to commence operations at this promising gold mine.

Key Developments in Permitting Process

The Environmental Evaluation was developed by Stantec, an esteemed leader in the fields of engineering, architecture, and environmental consulting. Their work was guided by the direction of DOGAMI, with inputs from state permitting agencies, ensuring a thorough assessment of the project's environmental impacts.

Outcome of the TRT Meeting

Glen Van Treek, the President, COO, and Director of Paramount, expressed his optimism regarding the recent developments. "With the approval of the EE, Grassy Mountain has reached a significant milestone toward obtaining draft permits from the State of Oregon. We are eager to see the Federal draft Environmental Impact Statement released as scheduled, paving the way for the project's progress," he stated.

Economic Viability of Grassy Mountain

The feasibility study for the Grassy Mountain project, completed with a calculated gold price of $1,750 per ounce, projected an impressive annual production capacity of 47,000 ounces of gold and 55,000 ounces of silver. Even more compelling is the financial outlook; if gold prices rise to $2,100, the project's post-tax net present value (NPV) could soar from $114 million to $189 million, indicating robust economic potential.

Anticipated Timeline for Draft Permits

Rachel Goldman, the CEO and Director of Paramount, shared insights from the TRT meeting, revealing expectations to receive draft permits by May 2025. Following this, a public hearing will be held before the final permits are issued. This timeline aligns strategically with the Bureau of Land Management's (BLM) record of decision expected later in 2025, facilitating synchronized development between state and federal levels.

Company Overview and Project Portfolio

Paramount Gold Nevada Corp. is dedicated to gold exploration and development within the United States. Their overarching strategy focuses on maximizing shareholder value by either selling mineral properties to established mining firms, entering joint ventures, or developing and operating their own mining projects. Paramount's portfolio currently includes three primary projects: Grassy Mountain, Sleeper, and Bald Peak.

Exploring the Grassy Mountain Gold Project

The Grassy Mountain Gold Project spans approximately 8,200 acres across private and BLM land. The project is notable for its gold-silver deposit entirely situated on private land, and the feasibility study results highlight the promising nature of this site as further permitting milestones are achieved.

Other Projects in the Portfolio

In addition to Grassy Mountain, Paramount holds the Sleeper Gold Project in Northern Nevada, a notable mining area that includes the historically productive Sleeper mine and consists of 2,474 unpatented mining claims covering around 44,917 acres. Moreover, the Bald Peak Project, which is drill-ready, encompasses approximately 2,260 acres, presenting additional opportunities for the company.

Contact Information for Paramount Gold

For more inquiries, reach out to:

Rachel Goldman, CEO and Director

Christos Theodossiou, Director of Corporate Communications
844.488.2233
Twitter: @ParamountNV

Frequently Asked Questions

What is the current status of the Grassy Mountain project?

The Grassy Mountain project has received approval for its Environmental Evaluation, marking a significant step in the permitting process.

Who conducted the Environmental Evaluation for the project?

The EE was produced by Stantec, a global leader in engineering and environmental consulting.

What are the financial projections for the Grassy Mountain project?

With gold prices at $2,100, the post-tax NPV could increase from $114 million to $189 million, highlighting strong economic viability.

When are the draft permits expected?

Draft permits are anticipated to be received by May 2025, followed by a public hearing.

What other projects does Paramount Gold have?

Paramount holds two additional projects: the Sleeper Gold Project and the Bald Peak Project, expanding their exploration efforts.

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