Grassy Mountain On Track To Be The First Modern Day Gold Mine In Oregon

WINNEMUCCA, NV - Paramount Gold Nevada Corp. announced that the Environmental Evaluation (EE) outline of the proposed Grassy Mountain Gold Mine has been approved by all Oregon State agencies involved in the permitting process as sufficient for the preparation of permits.

President and COO, Glen van Treek, said, “The Environmental Evaluation is a critical component in the permit writing process. Knowing the scope of the data in this evaluation is sufficient for the regulators to proceed with the preparation of permits in our view confirms their commitment to progressing Grassy Mountain towards final permitting.”

The EE outline was prepared by Stantec, an international consulting firm with significant experience in mining and processes. Stantec was contracted by the DOGAMI to conduct the EE and to coordinate environmental assessment efforts with the BLM and their EIS contractor, HDR Inc., to complete the Federal Environmental Impact Statement.

All state agencies and supporting agencies participating in the permitting of Grassy Mountain attended a recently held public meeting, hosted by the Technical Review Team (TRT), where all agencies present agreed upon the EE outline. The agencies involved included the Oregon Department of Mineral Industries (DOGAMI), the Department of Environmental Quality (DEQ), Oregon Department of Fish and Wildlife (ODFW), Oregon Water Resource Department (OWRD), and the State Historical Preservation Office (SHPO). The supporting agencies included the Oregon Department of Justice (DOJ), the Bureau of Land Management (BLM), US Fish and Wild Life Service (USFWS).

“The Environmental Evaluation outline incorporates an analysis of the proposed operation, evaluates potential environmental impacts and among other requirements, assesses that the proposed plan is the best feasible development option. Given recent and continued progress, the Company believes that the state will be able to issue permits for the first modern day gold mine in Oregon, within the 225 days set out by the regulation, once the Consolidated Permit Application is deemed complete,” said, van Treek.

Paramount Gold Nevada Corp. is a U.S. based precious metals exploration and development company. Paramount’s strategy is to create shareholder value through exploring and developing its mineral properties and to realize this value for its shareholders in three ways: by selling its assets to established producers; entering joint ventures with producers for construction and operation; or constructing and operating mines for its own account.

The Grassy Mountain Gold Project consists of approximately 8,200 acres located on private and BLM land in Malheur County, Oregon. The Grassy Mountain Gold Project contains a gold-silver deposit (100% located on private land) for which results of a positive Feasibility Study have been released and key permitting milestones accomplished.

Frost is comprised of 84 unpatented lode claims covering approximately 1,730 acres located 12 miles southwest of the Company’s proposed high-grade, underground Grassy Mountain gold mine in Malheur County, Oregon. An initial drill program is ongoing.

The Sleeper Gold Project is located in Northern Nevada, the world’s premier mining jurisdiction. The Sleeper Gold Project, which includes the former producing Sleeper mine, totals 2,474 unpatented mining claims (approximately 44,917 acres).