After-Tax NPV of $375M and IRR of 39% ($3,600/oz gold)

After-Tax NPV of $609M and IRR of 55% ($4,618/oz gold)

WINNEMUCCA, Nev., May 28, 2026 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE:PZG) ("Paramount" or the "Company") announced today the results of a Feasibility Study update prepared in accordance with S-K 1300 (the "Study") for its 100% owned, high-grade Grassy Mountain Gold Project ("Grassy Mountain" or the "Project") located in Malheur County, Oregon.

The Study updates the Company's 2022 feasibility study and reflects current metal price assumptions, capital and operating cost estimates, and a revised mine plan. The economic analysis is based on assumed metal prices of $3,600 per ounce of gold and $48 per ounce of silver.

Total recoverable ounces of gold have increased 7% from 361,800 ounces to 385,800 ounces. The revised production schedule extends the Project's mine life from 7.8 years to 9.3 years. The Study outlines significantly improved project economics, including an after-tax NPV (5%) of $374.7 million, an IRR of 38.9% and a payback period of 2.2 years, representing relative NPV and IRR increases of 228% and 72%, respectively, compared to the 2022 study.

The Study includes sensitivity analysis to higher commodity prices amongst other inputs. Assuming metal prices of $4,618 per ounce of gold and $74 per ounce of silver, the Project's after-tax NPV increases to $608.6 million, with an IRR of 55.4% and a payback period of 1.4 years.

The Project is planned as an underground operation with a relatively small surface footprint. Grassy Mountain received a positive Record of Decision from the Federal Bureau of Land Management along with the final Environmental Impact Statement in January 2026, representing a significant milestone in advancing the project toward a potential construction decision. State permitting is in the final stages, with approval expected in the second half of 2026.