Paramount Gold expects to receive final federal approvals in Winnemucca, Nevada – December 16, 2025 – Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount” or the “Company”) announces today that the U.S. Bureau of Land Management (“BLM”) has confirmed that the final Environmental Impact Statement (“EIS”) and Record of Decision (“ROD”) for the Grassy Mountain Gold Project are scheduled to be issued in January 2026. Project and permitting timelines can be tracked at our dedicated project website at: https://grassymountaingold.com.
“Between the US Federal government shutdown and the upcoming holidays, the minor delay in the issuance of the final EIS and the ROD is reasonable and does not impact overall project timelines. Our local BLM team in Oregon worked hard throughout the shutdown to keep the project review on track and we appreciate their dedication” said CEO Rachel Goldman. “The overall permitting process has been lengthy, in part because Grassy Mountain is the first mining project of its kind to seek approval in Oregon. In 2025, the project benefited from improved visibility due to inclusion in the US Federal government’s FAST-41 program.”
Paramount is also pleased to announce that Ausenco Engineering Canada Inc. (“Ausenco”) has been engaged to update the feasibility study on Grassy Mountain, which is on track for completion in the first half of 2026 and is expected to reflect the project’s improved economics in a higher metal price environment.
The Company achieved significant permitting milestones for its Grassy Mountain Gold Project in 2025.
The project advanced with formal acceptance into the federal FAST-41 program in May, ensuring a transparent permitting schedule. In August, the BLM issued the Draft Environmental Impact Statement (“DEIS”)—the first for a gold mining project in Oregon—followed by a public comment period under the National Environmental Policy Act (“NEPA”).
At the state level, the Oregon Department of Geology and Mineral Industries (“DOGAMI”) released its draft consolidated permit package on December 8th, and scheduled a public hearing for January 29, 2026, with comments accepted through February 6. Final state permits will incorporate any required revisions and are expected to be released in late Q1 or early Q2, 2026.
Local permitting also progressed, with Malheur County granting two-year extensions for the Conditional Use Permit and Sage Grouse Permit.
Paramount maintained strong engagement with regulators, stakeholders, and communities throughout the year.
Entering 2026, Paramount is positioned for major milestones, including the final state and federal approvals that will further de-risk Grassy Mountain towards a construction decision.
With rising gold prices and improved visibility on the expected permitting trajectory at Grassy Mountain, the Company is evaluating opportunities at its Sleeper Gold Project in Nevada to create additional shareholder value. “We believe we have a substantial heap leachable resource at Sleeper where we can unlock additional unrealized value for our shareholders,” Goldman said.
We thank you for your continued support and wish you a healthy, prosperous 2026.