Program To Advance Former Sleeper Gold Mine In Nevada Towards Production

WINNEMUCCA, NV - Paramount Gold Nevada Corp. reported that in response to higher gold prices it has initiated a program to evaluate restarting the historic Sleeper Mine. From 1986 to 1996 the Sleeper mine produced 1.7 million ounces of high-grade gold at costs well below $400 per ounce. The 38,300 acre property in Humboldt County Nevada currently hosts 3 million ounces of measured and indicated gold resources, nearly 1.5 million ounces of inferred gold resources and a considerable silver resource.

CEO, Rachel Goldman, said, “Gold at current levels makes Sleeper a much more valuable asset. Located in one of the world’s best mining jurisdictions, with excellent infrastructure and access, as well as a sizable unexplored land package, we expect Sleeper to become an increasingly important part of the Paramount story moving forward.”

Nevada has a well-established permitting process which facilitates advancing Sleeper towards a production scenario. The company will begin compiling the required data to complete baseline studies as part of the permitting process to re-open the mine. Paramount has gained recognition from the State for the award-winning reclamation work the team conducted at Sleeper over the course of it’s ownership. The company expects that future activity on the property will be carried out with a similar duty of care.