Paramount Gold Provides Update on its Upcoming AGM

Rhea-AI Summary

Paramount Gold Nevada Corp. (PZG) announced its Annual General Meeting for stockholders on December 13, 2022, at 11:00 AM EST, which will be held virtually. The company filed its annual financial statements for the fiscal year ending June 30, 2022, with the SEC, which included a going concern qualification by its independent auditors. Investors can access proxy materials online. Paramount holds a 100% interest in four gold projects, including the Grassy Mountain Gold Project, which has shown positive feasibility study results and achieved key permitting milestones.

Positive

• Annual General Meeting scheduled for December 13, 2022.
• Positive feasibility study results for the Grassy Mountain Gold Project.
• Key permitting milestones accomplished for Grassy Mountain.

Negative

• Going concern qualification in the annual audited financial statements.

WINNEMUCCA, Nev., Nov. 10, 2022 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount” or the “Company”) announced that its Annual General Meeting of the stockholders to be held on December 13, 2022 at 11:00 AM eastern standard time. The meeting will be held virtually over the Internet at www.meetnow.global/M7K6AQJ. Proxy materials are available at www.edocumentview.com/PZG.

The Company also advised that it filed its annual audited financial statements for the fiscal year ended June 30, 2022 on Form 10-K with the Securities and Exchange Commission (“SEC”) on October 13, 2022. The audit report of the Company’s independent registered accounting firm included a going concern qualification. Release of this information is required by Section 610(b) of the NYSE American Company Guide. It does not represent any change or amendment to any of the Company’s filings for the fiscal year ended June 30, 2022.

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About Paramount Gold Nevada Corp.
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.

Paramount holds a 100% interest in four gold projects: Grassy Mountain; Frost; Sleeper and Bald Peak.

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 (“Grassy”). 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).

The newly acquired Bald Peak Project consists of approximately 2,260 acres located in the Aurora mining district of Mineral County, Nevada.

Safe Harbor for Forward-Looking Statements

This 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 the use of proceeds from the Offerings. 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 feasibility study for the Grassy Mountain Gold Project (the “FS”); the quantity and grade of resources included in resource estimates; the accuracy and achievability of projections included in the FS; 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 Gold 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; the global epidemics, pandemics, or other public health crises, including the novel coronavirus (COVID-19) global health pandemic, and the spread of other viruses or pathogens 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.
Rachel Goldman, Chief Executive Officer
Christos Theodossiou, Director of Corporate Communications
844-488-2233
Twitter: @ParamountNV

FAQ

When is Paramount Gold Nevada Corp.'s Annual General Meeting?

The Annual General Meeting is scheduled for December 13, 2022, at 11:00 AM EST.

What financial report did Paramount Gold Nevada Corp. file?

Paramount filed its annual audited financial statements for the fiscal year ended June 30, 2022, on Form 10-K with the SEC.

What is the significance of the going concern qualification?

The going concern qualification indicates potential doubts about Paramount's ability to continue operations without additional financing.

What gold projects does Paramount Gold Nevada Corp. own?

Paramount holds a 100% interest in four gold projects: Grassy Mountain, Frost, Sleeper, and Bald Peak.