Grassy Mountain Becomes First Mining Project In Oregon To Receive Positive Completeness Determination From State Agencies

WINNEMUCCA, NV - Paramount Gold Nevada Corp. announced that the State of Oregon’s Technical Review Team (TRT), which is comprised of the agencies involved in the Chemical Process Mining program has determined that Paramount’s Consolidated Permit Application (CPA) for its Grassy Mountain Project is complete. State agencies are now expected to start permit writing for the high-grade Grassy Mountain gold and silver mine.

With the completeness determination by the TRT, the next step is for The Oregon Department of Geology and Mineral Industries (DOGAMI), the facilitating agency of the TRT, to issue the Notice to Proceed. The DOGAMI expects to issue final consolidated permits for the Grassy Mountain Mine one year from the issuance of the Notice in concurrence with State laws.

President, COO and Director, Glen Van Treek, said, “Since the acquisition of Grassy, this is the green light we have been working towards which signals the state’s willingness for us to proceed with building and operating the Grassy Mountain mine. The CPA completeness determination couldn’t have been achieved without the unwavering dedication of our incredible team, the trust of our shareholders and the support of the local community. The project will make an important contribution to eastern Oregon. It includes several infrastructure upgrades to existing powerlines and roadway, the construction of the processing facility and the development of the underground mine requiring a life of mine investment of nearly $190 million. These costs include project sustaining capital and mine closure costs, reclamation and over 20 years of monitoring post mine closure. In addition, while in operation, an estimated $250 million will be paid in salaries to approximately 110 direct employees, and many external goods and services that the Company expects to source locally where possible. Our project will bring significant economic benefits to the communities of eastern Oregon.”