Paramount Gold Nevada Corp. has cleared its primary federal permitting hurdle after the U.S. Bureau of Land Management approved the Plan of Operations for the Grassy Mountain gold project in Malheur County, Oregon.

The approval follows a rigorous environmental review under the National Environmental Policy Act. With the BLM also concurring that the reclamation cost estimate detailed in the Grassy Mountain Reclamation Plan dated February 2026 is sufficient to meet anticipated reclamation requirements, the company's federal permitting work is functionally complete.

Under an existing Memorandum of Understanding, the BLM and Oregon's Department of Geology and Mineral Industries will jointly hold the financial guarantee for the project, meeting both agencies' bonding criteria. This arrangement allows Paramount to streamline the implementation and cost of funding and posting the reclamation bond by reducing duplicative efforts.

Before construction can begin, Paramount will post the financial guarantee, which will trigger an official Decision letter and the issuance of the final Notice to Proceed for the approved Plan of Operations. This final step will occur once a construction decision has been made. Paramount expects final state permits for Grassy Mountain to be issued in 2026, following the release of the draft permit package in December 2025 and the subsequent public review period that concluded in February 2026.

Shares of Paramount Gold traded at $1.43, up 7.52% on September 2, 2026.

“We thank the Vale BLM office for their continued diligent work in administering the review process for Grassy Mountain in a transparent and efficient manner. With the approval of the Plan of Operations and concurrence on the financial bonding requirement for reclamation, our federal permitting work is functionally complete. We now have the visibility and the flexibility to continue to sequence further development work at Grassy Mountain and post the bond ahead of groundbreaking on the project. This final step will occur once a construction decision has been made.”

— Rachel Goldman, Chief Executive Officer

Read the full announcement: Paramount Gold Announces BLM Approval of Plan of Operations and Determination of Financial Guarantee for the Grassy Mountain Project