Grassy is located in Malheur County, eastern Oregon, approximately 22 miles south of Vale and 70 miles west of Boise, Idaho. The project is situated within the rolling hills of the high desert region of the western Snake River Plain.

The land package consists of approximately 8,200 acres and includes three patented (private) lode claims hosting the gold deposit, 455 unpatented lode claims, nine mill site claims, and a surface and mineral rights lease. The local terrain is gentle to moderate, with elevations ranging from 3,300 to 4,300 ft. above mean sea level.

Paramount owns 100% of the private land containing the gold deposit and controls all associated mining claims within the land package.

Since acquiring Calico Resources in 2016, Paramount has focused on advancing Grassy toward production, positioning it to become Oregon’s first modern gold mine.

The Company has significantly expanded and upgraded the mineral resources, improved metallurgical recoveries, and enhanced project economics. Key milestones include County approval, the Federal Record of Decision (ROD), the Final Environmental Impact Statement (FEIS), and draft state permits. The project is currently progressing through the final stage of the state permitting process.

MINING AND PROCESSING OPERATIONS

Grassy is designed as an underground mining operation targeting approximately 2.07 million short tons of mill-grade ore and 0.27 million short tons of waste rock over an estimated initial mine life of eight years. The Tailings Storage Facility (TSF) has been designed to accommodate approximately 3.64 million short tons, providing additional capacity for future reserves.

Ore and waste rock will be extracted using conventional underground mining methods, including drilling, blasting, loading, and hauling. Hydraulic loaders will load material into haul trucks with waste rock transported to the Temporary Waste Rock Storage Facility (TWRSF) which will be located near the TSF. Ore will be transported to the run-of-mine stockpile which will be adjacent to the crushing and milling facilities.

The ore will be crushed and processed in a carbon-in-leach processing plant at a rate of 750 short tons per day, operating seven days per week. Following processing, tailings will undergo detoxification before being transferred to the TSF, with water recovered and pumped back to the mill.

Overall, operations will consist of an underground mine and associated surface infrastructure, including processing facilities, storage areas, and supporting site infrastructure.

Key project components:

• Underground mine, including portal, decline, and ventilation shaft
• Tailings Storage Facility, including embankment, impoundment, and reclaim pond
• Temporary Waste Rock Storage Facility
• Process plant area, including the process plant building, crushing facilities, conveyors, ore bins, control rooms, CIL processing plant, reagent storage building (including chemical and reagent storage), gold room, and collection pond
• Infrastructure and ancillary facilities that will include a project site main gate and guard house, administration office and change house, assay laboratory and sample preparation area, truck shop and warehouse, wash pads, process plant workshop and warehouse, meteorological station, explosive magazines, parking areas, ore stockpiles, solid and liquid hazardous waste storage, and fuel storage and dispensing area
• Roads, including upgrades to the Twin Springs and Cow Hollow roads, and construction of the mine access, internal access, and mine haul roads
• Yards and laydown areas
• Growth media stockpiles
• Water supply, including production well field, water pipeline, raw water storage tank
• Potable water treatment plant
• Power supply that includes a power substation, upgraded and new 14.4 kilovolt overland power transmission system, onsite powerlines, and generators
• Permanent and temporary stormwater diversion channels
• Other areas, including the exploration areas, septic system, and perimeter fence
• Quarry and
• reclamation borrow areas

The timeline below reflects the project’s indicative sequence of development activities. Actual timing may vary based on permitting processes, regulatory reviews, and other factors.

Last updated: April 2026