PZG — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-09-17

• may not be able, or may elect not to insure, may result in a material adverse change in the Company’s financial position. The nature of these risks is such that liabilities may exceed policy limits, in which event the Company would incur substantial uninsured losses.

• Currently, our Grassy Mountain Project has proven and probable reserves. Substantial expenditures will be required to determine if proven and probable mineral reserves exist at any of our other properties, to develop metallurgical processes to extract metal, to develop the mining and processing faci…

• Estimates of mineral reserves and other mineral resources are subject to considerable uncertainty. Such estimates are arrived at using standard acceptable geological techniques and are based on the interpretations of geological data obtained from drill holes and other sampling techniques. Engineers …

Text removed vs the prior filing · source: 10-K · 2025-09-25

• Currently, our Grassy Mountain Project has proven and probable reserves. Substantial expenditures will be required to determine if proven and probable mineral reserves exist at any of our other properties, to develop metallurgical processes to extract metal, to develop the mining and processing faci…

• acquire additional property rights. We have spent and will be required to continue to expend significant amounts of capital for drilling, geological and geochemical analysis, assaying, and, when warranted, feasibility studies with regard to the results of our exploration. We may not benefit from the…

• Estimates of mineral reserves and other mineral resources are subject to considerable uncertainty. Such estimates are arrived at using standard acceptable geological techniques and are based on the interpretations of geological data obtained from drill holes and other sampling techniques. Engineers …

• comparable facility and operating costs and other factors. Actual cash operating costs and economic returns on projects may differ significantly from the original estimates, primarily due to fluctuations in the current prices of metal commodities extracted from the deposits, changes in fuel costs, l…

• environment, the costs of borrowing additional funds or refinancing outstanding indebtedness would also be expected to increase. We may not be able obtain proceeds in an amount sufficient to meet any debt service obligations when due.

Text added vs the prior filing · source: 10-K · 2026-09-17

• The Company announced in June 2026, the results of an Initial Assessment ("2026 Sleeper IA") prepared in accordance with SK-1300 for the Sleeper Gold Project. The 2026 Sleeper IA evaluated a mining scenario that processes the existing waste dumps and mining of in situ oxide and mixed mineral resourc…

• The Company announced in May 2026, the results of the Grassy Feasibility Study ("FS") prepared in accordance with SK-1300. The Grassy FS Study updated the Company's 2022 feasibility study to reflect current metal price assumptions, capital and operating cost estimates and a revised mine plan.

• The Bureau of Land Management ("BLM") issued the Record of Decision ("ROD") for the Grassy Mountain Gold Project on January 29, 2026. The ROD finalized the federal environmental review process under the National Environmental Policy Act for the project in Malheur County, Oregon.

• The Oregon Department of Geology and Mineral Industries published the draft consolidated permit package for the Grassy Mountain Gold Project on behalf of all state permitting and cooperating agencies. This represents the first time in Oregon’s history that a mining project has advanced through the s…

• The BLM released its draft Environmental Impact Statement (“DEIS”) for the Grassy Mountain gold project.

Text removed vs the prior filing · source: 10-K · 2025-09-25

• The State of Oregon's Technical Review Team ("TRT") approved the completion of the Environmental Evaluation (“EE”) for the Grassy Mountain project.

• The TRT to approved all components of Paramount’s mining, processing and closure scenarios for its proposed Grassy Mountain operation. Paramount’s project design used the best available, practicable and necessary technologies (a standard known as “BAPNT”) to minimize environmental impact and ensure …

• Grassy Mountain project was selected and included in the federal government's FAST-41 program. FAST-41 covered projects are entitled to comprehensive permitting timetables and transparent, collaborative management of those timetables on the Federal Permitting Dashboard.

• For the year ended June 30, 2025, reclamation expenses at the Sleeper Gold Project were $200,950 compared to $2,605,799 in the prior year. This represents a decrease of 92% or $2,404,849. A significant amount of these reclamation expenses in the previous year were related to the Company completing t…

• For the year ended June 30, 2025, land holding costs increased by $95,622 or by 15% from the prior year of $647,497 to $743,119. The increase is primarily related to the increase in holding costs per claim enacted by the BLM commencing in September 2024.