CORRECTION -- Paramount Gold Completes an Updated Technical Report Summary for the Sleeper Gold Project

In a release issued under the same headline earlier today, Friday September 8th, by Paramount Gold Nevada Corp. (NYSE American: PZG), please note that the original press release contained a typographical error in the third bullet point of the sub headline by indicating a resource estimate of 31 million ounces of silver rather than the correct number of 21 million ounces, as was correctly indicated in the table within the press release. The corrected release follows:

• TOTAL GOLD RESOURCE OUNCES INCREASE NEARLY 30%
  
  
• MEASURED AND INDICATED GOLD RESOURCE OUNCES INCREASE TO 60% OF TOTAL RESOURCE FROM NIL
  
  
• RESOURCE ESTIMATED AT 1.9 MILLION OUNCES OF MEASURED PLUS INDICATED CONTAINED GOLD AND 21 MILLION OUNCES OF SILVER, AND AN ADDITIONAL 1.2 MILLION OUNCES OF GOLD AND 9.5 MILLION OUNCES OF SILVER IN THE INFERRED CATEGORY
  

WINNEMUCCA, Nev., Sept. 08, 2023 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount” or the “Company”) has issued an S-K 1300 Technical Report Summary (“TRS” or the “Study”) for its 100% owned Sleeper Gold-Silver Project (the “Project”) improving upon the total resources and associated confidence in the resources previously reported.

Paramount’s President and COO Glen Van Treek stated that, “Our team is thrilled with the progress we have made advancing the Sleeper project since the complete database verification process commenced. We are very optimistic this new resource estimate will support a robust Initial Assessment of project economics as recommended by our consultants, MDA of Reno, Nevada, a division of RESPEC.”

CEO Rachel Goldman noted that, “The database verification process has captured the value of tens of millions of dollars of historical work done on the Sleeper Project. Sleeper is a significant asset which we think is not reflected in our current valuation and the future potential of our Company. This resource restatement is a major step forward towards realizing Sleeper’s value for our shareholders.”

The digitizing and validation of the Sleeper database included over 4,200 drill holes completed since the original AMAX gold discovery hole in the 1980’s, a span of over 40 years. The database review included a revision of gold and silver values against original assay certificates, drill hole logs, sample sheets and verification of over 300,000 samples containing gold and silver assays. Additionally, the team re-assayed over 3,000 samples of old pulps and split core from drilling conducted in the 80’s and 90’s, bringing the overall database to current industry standards.