BLM Issues Notice of Intent for Paramount Gold’s Proposed High-Grade Grassy Mountain Gold and Silver Mine

GRASSY MOUNTAIN ENTERS FINAL PHASE OF PERMITTING

WINNEMUCCA, Nev., March 19, 2024 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount” or the “Company”) is pleased to announce that the Bureau of Land Management (“BLM”) has filed the Notice of Intent (the “Notice” or “NOI”) in the Federal Registry, thereby initiating the preparation of an Environmental Impact Statement (“EIS”) in compliance with the National Environmental Policy Act (“NEPA”) process for the proposed Grassy Mountain mine.

Paramount’s President & COO, Glen van Treek, stated, “The filing of the NOI in the federal registry marks a major milestone, providing a definitive path forward towards the construction and operation of the Grassy Mountain mine. The development of Grassy Mountain offers significant potential to provide much-needed employment opportunities and economic growth to Malheur County,” van Treek added.

The filing of the NOI follows the completeness determination by the BLM of the Plan of Operation (“PoO”) for Grassy Mountain as announced on November 29, 2022. The comprehensive PoO was developed to align with the requirements of the EIS. A 30-day public comment period has commenced, and, in that timeframe, the BLM will host two public meetings, in Vale, Oregon and Jordan Valley, Oregon to explain the proposed action and the scope of the EIS.

The draft EIS is expected to be available for public review in February 2025, and following the NEPA process, would include a 45-day public comment period. The final EIS is anticipated to be released in August 2025, followed by the Record of Decision in November 2025 marking the conclusion of the NEPA process.

About Paramount Gold Nevada Corp.

Paramount Gold Nevada Corp. is a U.S. based precious metals exploration and development company. Paramount’s strategy is to create shareholder value through exploring and developing its mineral properties and to realize this value for its shareholders in three ways: by selling its assets to established producers; entering joint ventures with producers for construction and operation; or constructing and operating mines for its own account.

Paramount holds a 100% interest in three projects: Grassy Mountain; Sleeper and Bald Peak.

The Grassy Mountain Gold Project ("Grassy") consists of approximately 8,200 acres located on private and BLM land in Malheur County, Oregon. Grassy contains a gold-silver deposit (100% located on private land) for which results of a positive Feasibility Study have been released and key permitting milestones accomplished.