Paramount Gold Enters Into A Royalty Agreement With Franco-Nevada Corporation

 

WINNEMUCCA, NV - Paramount Gold Nevada Corp. has entered into a royalty agreement with Franco-Nevada Corporation to sell a 2% Net Smelter Return Royalty (NSR) on its Sleeper Gold property in Northern Nevada for cash proceeds of US$2 million.

Proceeds from the royalty sale will be used to continue the permitting process and feasibility level work for Paramount’s proposed Grassy Mountain Project and to explore high priority targets which could add to Grassy Mountain’s existing mineralized material.

John Seaberg, Paramount’s Executive Chairman, said, “We are excited to execute a transaction with Franco, an industry-leading, gold-focused, streaming and royalty company. Franco’s purchase of a NSR at Sleeper provides further validation of the assets’ quality and its potential. As we advance both our Grassy Mountain and Sleeper projects, we believe this transaction will mark the beginning of an important long-term, strategic partnership for Paramount.”

Paul Brink, President and COO of Franco, said, “We are pleased to support Paramount as it advances its projects. The Sleeper Gold property has tremendous potential and option value due to its large resource base and land package in a proven, gold-rich district.”