Paramount Gold Nevada Receives Approval From Oregon State Regulators for Fifth Baseline Data Report
19 July 2018 - 9:00PM
Paramount Gold Nevada Corp. (NYSE American:PZG) ("Paramount”)
reported today that the Oregon Department of Geology and Mineral
Industries (“DOGAMI”) has approved and accepted a fifth baseline
environmental report required for the permitting of Paramount’s
proposed Grassy Mountain Gold Project in eastern Oregon.
The Outstanding Natural Areas Baseline Report was submitted to
DOGAMI on May 30, 2018 and final approval for the report was
received on June 29, 2018.
The report evaluated the project area and areas surrounding the
project to determine if there were any Outstanding Natural Areas in
or surrounding the proposed Grassy Mountain Gold Project. An
Outstanding Natural Area is designated as a protected area in the
National Landscape Conservation System managed by the Bureau of
Land Management. The report and the approval both confirm that
there are no Outstanding Natural Areas in the project study
area.
Paramount CEO Glen van Treek commented: “We continue to be
encouraged by the response time of Oregon State regulators. The
timely approval of our baseline studies, coupled with the recent
completion of a robust PFS for the Grassy Mountain mine, allow us
to stay on target to achieve our next major milestone of submitting
our Consolidated Permit Application to the State.”
The proposed Grassy Mountain Gold Project is located on
100%-owned private land (see February 20, 2018, press release on
exercise of option) and Bureau of Land Management (“BLM”) land in
Malheur County, Oregon.
About Paramount Gold Nevada Corp.Paramount Gold
Nevada 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 into joint ventures
with producers for construction and operation; or constructing and
operating mines for its own account.
Paramount owns 100% of the Grassy Mountain Gold
Project which consists of approximately 9,300 acres located on
private and BLM land in Malheur County, Oregon. The Grassy Mountain
project contains a gold-silver deposit (100% located on private
land) for which a PFS has been prepared and key permitting
milestones accomplished. Additionally, Paramount owns a 100%
interest in the Sleeper Gold Project located in Northern Nevada.
The Sleeper Gold Project, which includes the former producing
Sleeper mine, totals 2,322 unpatented mining claims (approximately
60 square miles or 15,500 hectares).
Safe Harbor for Forward-Looking StatementsThis
release and related documents may include "forward-looking
statements" and “forward-looking information” (collectively,
“forward-looking statements”) pursuant to applicable United States
and Canadian securities laws. Paramount’s future expectations,
beliefs, goals, plans or prospects constitute forward-looking
statements within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and other applicable
securities laws. Words such as "believes," "plans,"
"anticipates," "expects," "estimates" and similar expressions are
intended to identify forward-looking statements, although these
words may not be present in all forward-looking statements.
Forward-looking statements included in this news release include,
without limitation, statements with respect to: production
estimates and assumptions, including production rate and grade per
tonne; revenue, cash flow and cost estimates and assumptions;
statements with respect to future events or future performance;
anticipated exploration, development, permitting and other
activities on the Grassy Mountain project; the economics of the
Grassy Mountain project, including the potential for improving
project economics and finding more ore to extend mine life; and
mineral reserve and mineral resource estimates. Forward-looking
statements are based on the reasonable assumptions, estimates,
analyses and opinions of management made in light of its experience
and its perception of trends, current conditions and expected
developments, as well as other factors that management believes to
be relevant and reasonable in the circumstances at the date that
such statements are made, but which may prove to be incorrect.
Management believes that the assumptions and expectations reflected
in such forward-looking statements are reasonable. Assumptions have
been made regarding, among other things: the conclusions made in
the PFS; the quantity and grade of resources included in resource
estimates; the accuracy and achievability of projections included
in the PFS; Paramount’s ability to carry on exploration and
development activities, including construction; the timely receipt
of required approvals and permits; the price of silver, gold and
other metals; prices for key mining supplies, including labor costs
and consumables, remaining consistent with current expectations;
work meeting expectations and being consistent with estimates and
plant, equipment and processes operating as anticipated. There are
a number of important factors that could cause actual results or
events to differ materially from those indicated by such
forward-looking statements, including, but not limited to:
uncertainties involving interpretation of drilling results;
environmental matters; the ability to obtain required permitting;
equipment breakdown or disruptions; additional financing
requirements; the completion of a definitive feasibility study for
the Grassy Mountain project; discrepancies between actual and
estimated mineral reserves and mineral resources, between actual
and estimated development and operating costs and between estimated
and actual production; and the other factors described in
Paramount’s disclosures as filed with the SEC and the Ontario,
British Columbia and Alberta Securities Commissions.
Except as required by applicable law, Paramount
disclaims any intention or obligation to update any forward-looking
statements as a result of developments occurring after the date of
this document.
Paramount Gold Nevada Corp. Glen Van Treek, President,
CEO and DirectorChristos Theodossiou, Director of
Corporate Communications866-481-2233
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