Paramount Gold Nevada Corp.

Paramount Gold Nevada Corp.

Overview

Paramount Gold Nevada Corp. is a Nevada corporation focused on acquiring, exploring and developing precious metals projects in the United States. The company operates through wholly owned subsidiaries and uses a mix of project monetization options — selling, joint ventures, or building and operating small mines — to realize value from its properties. Paramount is in exploration and development mode and has not generated mining revenue to date.

Primary assets and strategy

• Core projects:
  • Grassy Mountain Project (Malheur County, Oregon) — development stage
  • Sleeper Project (Humboldt/Desert Valley region, near Winnemucca, Nevada) — exploration stage
• Value realization strategy: sale of projects, joint ventures, or development and operation of small mines.

Corporate structure

• Active wholly owned subsidiaries:
  • New Sleeper Gold LLC
  • Sleeper Mining Company, LLC
  • Calico Resources USA Corp. (holds the Grassy Mountain project)

Projects and status

Grassy Mountain (Oregon)

• Location: Malheur County, Oregon
• Ownership: 100% by Paramount
• Land position: 3 patented claims; 436 unpatented lode and mill site claims; lease for 28 unpatented claims (about 9,300 acres total)
• Permitting and approvals:
  • Oregon Draft Consolidated Permit Package issued December 2025
  • Federal Plan of Operations approved by BLM (Record of Decision issued January 29, 2026)
• Development concept: underground mining with mechanized cut-and-fill and CRF backfill; CIL processing; updated technical summary estimates a long-term mine life of about 9.3 years
• Processing design: 750 tons/day plant in the Grassy Mountain technical report summary (TRS)
• Resources and reserves: Gold and silver resources disclosed by RESPEC in the Grassy Mountain Mineral Resource Summary (Feb/May 2026); Proven and Probable Mineral Reserves reported as of May 15, 2026. Project economics (pre- and post-tax NPV/IRR) are presented in the 2026 TRS under various metal price scenarios.

Sleeper (Nevada)

• Location: Humboldt/Desert Valley region, near Winnemucca
• Ownership: 100% of unpatented lode claims (about 44,917 acres across Sleeper, Dunes, Mimi, South Sleeper)
• Focus: exploration with potential to restart mine development in the future
• Reclamation: Paramount manages reclamation under BLM and state requirements; a reclamation bond mechanism is in place
• Resources: Mineral resources disclosed in the Sleeper TRS across oxide, mixed, sulfide and surface materials (including waste dumps, heap leach pads and tailings), with estimates by category (Measured, Indicated, Inferred)
• Encumbrances: Sleeper is subject to royalties and is securitized by a security interest as part of the Sprott Debenture structure

Other non-material properties

• Nevada: Mill Creek (36 unpatented claims) and Frost/Frost-related opportunities with Nevada Select Royalty interests
• Oregon: Cryla LLC option to acquire 44 claims west of Grassy Mountain; additional arrangements related to NSR and potential purchase rights
• Ongoing engagement of royalties and potential future purchases on various non-material properties

Financial snapshot (as of June 30, 2026)

• Employees: Four full-time employees and two consultants
• Revenue: No revenue from operations to date
• Net loss: $15.56 million for fiscal year ended June 30, 2026
• Cash and equivalents: Approximately $9.9 million
• Indebtedness: $15 million convertible debenture outstanding
• Near-term funding and budget: Historically funded by debt and equity; exploration/development budget guidance for the next 12 months estimated up to $2.7 million (subject to results and funding availability)
• Going concern: The company reports substantial doubt about its ability to continue as a going concern in its 2026 annual report; liquidity depends on accessing additional financing or strategic arrangements
• Net book value examples (2026 disclosures):
  • Grassy Mountain Property: ~ $23.4 million
  • Sleeper Gold Property: ~ $25.6 million
• Corporate context:
  • Paramount was spun out in 2015 from Paramount Gold and Silver Corp. (PGSC). The separation included an equity contribution from PGSC and a separate stock issuance to Coeur Mining in connection with PGSC’s merger.
  • Paramount holds strategic royalty and streaming instruments, including the Sprott Debenture and various NSRs.

Notable contracts and rights

• Sprott Debenture: $15 million secured debenture, convertible into a 4.75% gross revenue royalty on Grassy Mountain upon conversion; security interests granted over project assets
• Right of First Refusal (ROFR) on mineral interests related to future production from Grassy Mountain
• Royalties on Sleeper and other claims, including participation by Snyder Syndicate, Franco-Nevada, ICN/Nevada Select and other royalty holders

Governance, reporting and ESG

• SEC filings: Paramount files Form 10-K, Form 10-Q and Form 8-K; filings are available on the company website and sec.gov
• Environmental and social responsibilities: The company emphasizes ESG considerations and ongoing permitting and reclamation obligations as part of project development and operations.