Paramount Gold Nevada Corp. (NYSE:PZG) ("Paramount" or the "Company") announced today that it has commenced an Initial Assessment ("IA") under the U.S. Securities and Exchange Commission ("SEC") S-K 1300, for its 100%-owned Sleeper Gold Project ("Sleeper"), a past-producing high-grade gold mine located in Humboldt County, northern Nevada.

The IA will be prepared in accordance with applicable U.S. regulatory standards and will evaluate the project's economic potential.

The assessment is intended to examine a potentially lower-cost, staged development approach focused on heap-leachable material only, including approximately 54 million tons of material of economic interest. This includes surface material from previously unevaluated waste dumps, as well as oxide and mixed in-situ mineralization amenable to heap leaching. This approach has the potential to support an accelerated path to cash flow and enhance overall project economics, building on prior assessments that focused primarily on in-situ resources. It is also expected to contribute to development planning and the evaluation of potential future expansion opportunities.