Paramount Gold Expects to Receive Final Federal Approvals in January 2026 for its High Grade Grassy Mountain Gold Project and Provides Corporate Update on 2025 Achievements

Rhea-AI Summary

Paramount Gold (NYSE American: PZG) said the U.S. Bureau of Land Management will issue the final EIS and ROD in January 2026 for the Grassy Mountain gold project, with project timelines posted at the project website. The company engaged Ausenco to update the feasibility study, on track for completion in H1 2026 and expected to reflect improved economics in a higher metal price environment.

Key 2025 milestones: formal acceptance into the federal FAST-41 program (May), issuance of the DEIS in August 2025, DOGAMI draft consolidated permit released Dec 8, 2025 with a state public hearing on Jan 29, 2026 and comments through Feb 6, 2026. Local permits received two-year extensions from Malheur County.

Positive

• Final EIS/ROD scheduled for January 2026
• Ausenco engaged to update feasibility study, completion targeted H1 2026
• Inclusion in FAST-41 (May 2025) improved permitting visibility

Negative

• Minor delay in final EIS/ROD tied to federal shutdown
• State permits timing uncertain (final permits expected late Q1 or early Q2 2026)

News Market Reaction

%

1 alert

% News Effect

+4.0% Peak Tracked

$97M Market Cap

0.2x Rel. Volume

On the day this news was published, PZG declined NaN%, reflecting a moderate negative market reaction. Argus tracked a peak move of +4.0% during that session.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Final EIS & ROD timing: January 2026 Feasibility study update timing: First half 2026 FAST-41 inclusion date: May 2025 +5 more

8 metrics

Final EIS & ROD timing January 2026 BLM scheduled issuance for Grassy Mountain Gold Project

Feasibility study update timing First half 2026 Ausenco updating Grassy Mountain feasibility study

FAST-41 inclusion date May 2025 Formal acceptance of Grassy Mountain into FAST-41 program

Public hearing date January 29, 2026 DOGAMI hearing on draft consolidated permit package

State comment deadline February 6, 2026 End of comment period for DOGAMI draft permits

Expected final state permits Late Q1–Early Q2 2026 Timeline for Oregon final permits after revisions

Local permits extension Two-year extensions Conditional Use Permit and Sage Grouse Permit in Malheur County

Project type Heap leachable resource Sleeper Gold Project characterization for potential value

Market Reality Check

Price: $1.77 Vol: Volume 320,052 vs 20-day ...

low vol

$1.77 Last Close

Volume Volume 320,052 vs 20-day average 930,147 (about 0.34x normal activity) ahead of this update. low

Technical Shares at $1.18, trading above the 200-day MA $0.77 and about 16.01% below the 52-week high.

Peers on Argus

PZG was flat while peers were mixed: TRX up 1.12%, but GORO, VGZ, USAU and CTGO ...

PZG was flat while peers were mixed: TRX up 1.12%, but GORO, VGZ, USAU and CTGO down between about 1.84% and 9.92%, suggesting a stock-specific narrative rather than a uniform gold-sector move.

Historical Context

5 past events · Latest: Dec 08 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 08	State permitting step	Positive	-0.9%	Oregon issued draft consolidated permit package and set hearing timeline.
Sep 25	AGM & 10-K	Negative	+2.6%	AGM details and 10-K with going concern qualification disclosure.
Aug 08	Federal DEIS release	Positive	+1.4%	BLM released DEIS, starting comment period and advancing permitting.
Jul 28	County permit extension	Positive	-0.6%	Malheur County granted two-year extensions for key local permits.
Jul 10	Permitting acceleration	Positive	-4.5%	BLM signaled accelerated schedule under FAST-41 transparency list.

Pattern Detected

Recent permitting and corporate news often showed divergence, with 4 of the last 5 items moving opposite to their apparent sentiment.

Recent Company History

Over the past six months, Paramount has consistently advanced permitting for its Grassy Mountain project. Key milestones included Malheur County’s two-year permit extensions on Jul 23, 2025, BLM’s DEIS release in Aug 2025, and Oregon’s draft consolidated permit package on Dec 8, 2025. The project’s inclusion in the federal FAST-41 program and multiple regulatory steps have framed a path toward a construction decision. Against this backdrop, today’s update about expected final federal approvals in January 2026 continues that permitting progression.

Market Pulse Summary

This announcement advances clarity on Grassy Mountain’s permitting path, with the BLM targeting fina...

Analysis

This announcement advances clarity on Grassy Mountain’s permitting path, with the BLM targeting final EIS and ROD in January 2026 and Oregon state permits expected by late Q1–early Q2 2026. It also flags an updated feasibility study and potential value from the Sleeper project. Historically, market reactions to similar milestones have been inconsistent, so investors may focus on actual permit issuances, feasibility results, and how the company finances the transition toward construction.

Key Terms

environmental impact statement, record of decision, fast-41 program, national environmental policy act, +3 more

7 terms

environmental impact statement regulatory

"the final Environmental Impact Statement (“EIS”) and Record of Decision"

An environmental impact statement is a formal report that evaluates the likely effects a proposed project or plan will have on air, water, land, wildlife and local communities; it lays out potential harms, proposed mitigation measures, and alternatives. Think of it as a project’s environmental report card and repair plan: regulators use it to decide permits, and investors use it to assess delays, extra costs, legal risks and reputation exposure tied to environmentally sensitive issues.

record of decision regulatory

"final Environmental Impact Statement (“EIS”) and Record of Decision (“ROD”)"

A record of decision is an official written statement from a government regulator that explains and finalizes its approval or denial of a proposed project after reviewing environmental and legal factors. For investors, it matters because it removes a major regulatory uncertainty — like a referee’s final whistle — allowing a project to move forward, be funded, or be halted, which can change timelines, costs, and potential liabilities.

fast-41 program regulatory

"inclusion in the US Federal government’s FAST-41 program"

A FAST‑41 program is a U.S. federal process that coordinates and speeds up environmental reviews and permitting for large infrastructure projects by setting target timelines, assigning points of contact, and tracking progress. For investors, it matters because faster, more predictable permit decisions lower the risk of costly delays or surprises—think of it as giving a complex construction project a clear schedule and a single project manager to keep things on track.

national environmental policy act regulatory

"public comment period under the National Environmental Policy Act (“NEPA”)"

A U.S. law that requires federal agencies to evaluate and disclose the likely environmental effects of major projects and decisions before they proceed. For investors, that review can delay approvals, add compliance costs, or change project plans—like a required safety inspection that can uncover problems or require fixes before construction continues—so NEPA processes are a key source of timing, cost and legal risk for projects involving federal permits or funding.

heap leachable technical

"We believe we have a substantial heap leachable resource at Sleeper"

Heap leachable describes ore that can be economically processed by piling crushed rock into large heaps and soaking it with a liquid that dissolves the target metal so it can be collected. Think of it like steeping tea: the valuable material is pulled out by a liquid rather than by complex machinery. For investors, heap-leachable deposits often mean lower upfront and operating costs and faster project start-up, but they can also have lower metal recoveries and carry environmental or regulatory considerations that affect value.

conditional use permit regulatory

"granting two-year extensions for the Conditional Use Permit and Sage Grouse Permit"

A conditional use permit is a government approval that allows a property or business to operate in a way not normally allowed under local zoning rules, provided it meets specific requirements or limits. For investors it matters because the permit can unlock a project's value or revenue but also imposes conditions, timelines and compliance risks that affect costs, approval uncertainty and the asset’s resale appeal—think of it as permission to proceed with strings attached.

sage grouse permit regulatory

"extensions for the Conditional Use Permit and Sage Grouse Permit"

A sage grouse permit is a regulatory authorization that lets a business or landowner carry out activities—such as energy development, mining, or construction—that could disturb greater sage‑grouse habitat, usually after mitigation or conservation measures are agreed. Investors care because the permit determines whether a project can proceed, how much it will cost and how long approvals will take; think of it like a specialized building permit for a protected wildlife neighborhood.

AI-generated analysis. Not financial advice.

WINNEMUCCA, Nev., Dec. 16, 2025 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount” or the “Company”) announces today that the U.S. Bureau of Land Management (“BLM”) has confirmed that the final Environmental Impact Statement (“EIS”) and Record of Decision (“ROD”) for the Grassy Mountain Gold Project are scheduled to be issued in January 2026. Project and permitting timelines can be tracked at our dedicated project website at: https://grassymountaingold.com/.

“Between the US Federal government shutdown and the upcoming holidays, the minor delay in the issuance of the final EIS and the ROD is reasonable and does not impact overall project timelines. Our local BLM team in Oregon worked hard throughout the shutdown to keep the project review on track and we appreciate their dedication,” said CEO Rachel Goldman. “The overall permitting process has been lengthy, in part because Grassy Mountain is the first mining project of its kind to seek approval in Oregon. In 2025, the project benefited from improved visibility due to inclusion in the US Federal government’s FAST-41 program.”

Paramount is also pleased to announce that Ausenco Engineering Canada Inc. (“Ausenco”) has been engaged to update the feasibility study on Grassy Mountain, which is on track for completion in the first half of 2026 and is expected to reflect the project’s improved economics in a higher metal price environment.

The Company achieved significant permitting milestones for its Grassy Mountain Gold Project in 2025. 

The project advanced with formal acceptance into the federal FAST-41 program in May, ensuring a transparent permitting schedule. In August, the BLM issued the Draft Environmental Impact Statement (“DEIS”)—the first for a gold mining project in Oregon—followed by a public comment period under the National Environmental Policy Act (“NEPA”). 

At the state level, the Oregon Department of Geology and Mineral Industries (“DOGAMI”) released its draft consolidated permit package on December 8^th, and scheduled a public hearing for January 29, 2026, with comments accepted through February 6. Final state permits will incorporate any required revisions and are expected to be released in late Q1 or early Q2, 2026. 

Local permitting also progressed, with Malheur County granting two-year extensions for the Conditional Use Permit and Sage Grouse Permit.

Paramount maintained strong engagement with regulators, stakeholders, and communities throughout the year. 

Entering 2026, Paramount is positioned for major milestones, including the final state and federal approvals that will further de-risk Grassy Mountain towards a construction decision.

With rising gold prices and improved visibility on the expected permitting trajectory at Grassy Mountain, the Company is evaluating opportunities at its Sleeper Gold Project in Nevada to create additional shareholder value. “We believe we have a substantial heap leachable resource at Sleeper where we can unlock additional unrealized value for our shareholders,” Goldman said.

We thank you for your continued support and wish you a healthy, prosperous 2026. 

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 three projects: Grassy Mountain; Sleeper and Bald Peak.

The Grassy Mountain Gold Project ("Grassy") consists of approximately 8,200 acres located on private and BLM land in Malheur County, Oregon. Grassy 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.

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

The drill ready Bald Peak Project in Nevada consists of approximately 2,260 acres.

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," “may,” “continue,” “intend,” "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 timing and success of the permitting of the Grassy Mountain Gold Project and the Sleeper Gold Project. 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 Sleeper 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, CEO and Director
Christos Theodossiou, Director of Corporate Communications
844.488.2233
X: @ParamountNV

FAQ

When will Paramount Gold (PZG) receive the final federal approvals for Grassy Mountain?

The company says the final EIS and ROD are scheduled to be issued in January 2026.

What is the timeline for the updated Grassy Mountain feasibility study for PZG?

Ausenco has been engaged and the feasibility update is on track for completion in H1 2026.

What state-level permitting steps does PZG face for Grassy Mountain in early 2026?

DOGAMI released a draft consolidated permit on Dec 8, 2025, with a public hearing on Jan 29, 2026 and comments accepted through Feb 6, 2026.

How did FAST-41 affect PZG's Grassy Mountain permitting in 2025?

Grassy Mountain was accepted into the federal FAST-41 program in May 2025, providing a transparent permitting schedule.

Did local permitting change for Grassy Mountain ahead of 2026?

Yes; Malheur County granted two-year extensions for the Conditional Use Permit and Sage Grouse Permit.

Does the January 2026 federal approval change Paramount's construction decision timing?

The company says final state and federal approvals in 2026 would further de-risk Grassy Mountain toward a construction decision.