Paramount Gold Nevada Corp. announced that it has initiated a drill program at the Frost project located 12 miles southwest of the Company’s high-grade Grassy Mountain gold project in Eastern Oregon. As previously announced, Paramount received all required permits from State and Federal authorities to drill its Frost property in April 2021. Paramount plans to send samples for assaying to the ALS lab in Twin Falls, Idaho located approximately 200 miles from Grassy Mountain. The first phase of drilling will be a 15-hole reverse circulation program of approximately 9,000 ft in total. The program is designed to test prospective targets related to interpreted silicification, and structures identified by the Paramount team based upon historic assays, field mapping and geophysical surveys. Historic drilling completed in the early 1990’s intersected up to 25g/T of gold and 27g/T of silver. NI 43-101 Disclosure: Exploration activities at Grassy Mountain are being conducted by Calico Resources USA Corp. personnel under the supervision of Michael McGinnis (CPG 10914) Project Manager and a Qualified Person under National Instrument 43-101, who has reviewed and approved this release. An ongoing quality control/quality assurance protocol is being employed for the program including blank, duplicate and reference standards in every batch of assays.