Paramount Gold Nevada Corp. Announces the Results of its Annual Stockholder Meeting
WINNEMUCCA, NEVADA--(Marketwired - Dec. 21, 2015) - Paramount Gold Nevada Corp. ("Paramount" or the "Company") (NYSE MKT:PZG) announces the results of the votes from its annual stockholder meeting which was held on December 17, 2015. Of the 8,518,791 shares outstanding and entitled to vote at the meeting as of the record date of September 21, 2015, 6,151,550 shares or 72.21%.
The stockholders elected the following five individuals to Paramount's Board of Directors for one year terms expiring at the 2016 Annual General Meeting: David Smith, Glen Van Treek, John Carden, Christopher Reynolds, and Eliseo Gonzalez-Urien.
Detailed voting results of the election of directors were as follows:
| Name of Nominee | For | Withheld | Percentage For | Percentage Withheld |
| David Smith | 2,662,093 | 47,898 | 98.23 | 1.77 |
| Glen Van Treek | 2,662,147 | 47,844 | 98.23 | 1.77 |
| Christopher Reynolds | 2,657,677 | 52,314 | 98.07 | 1.93 |
| John Carden | 2,661,892 | 48,099 | 98.23 | 1.77 |
| Eliseo Gonzalez-Urien | 2,661,629 | 48,362 | 98.22 | 1.78 |
Broker non-votes: 3,441,559.
The stockholders also ratified MNP LLP as our independent registered public accountants for the year ended June 30, 2016 with 5,956,881 voting 'for' (96.83%), 177,573 (2.89%) voting 'against' and 17,096 (0.28%) abstaining to vote.
About Paramount Gold Nevada Corp.
Paramount Gold Nevada is a U.S. based precious metals exploration company. Paramount owns 100% interest in the Sleeper Gold Project located in Northern Nevada. The Sleeper Gold Project, which includes the former producing Sleeper mine, totals 2,322 unpatented mining claims (approximately 60 square miles or 15,500 hectares). Paramount recently completed a positive Preliminary Economic Assessment (PEA) and the key highlights were as follows:
- Low Initial Capital of $175 Million for a 30,000 tonnes per day operation
- Estimated annual production of 102,000 ounces of Gold and 105,000 ounces of Silver
- Low cash operating cost of $529 per ounce of Gold Equivalent produced
- $244 million pre-tax net cash flow, a $167 million net present value at a 5% discount rate and an internal rate of return of 25%
For more details see the press release dated December 15, 2015 or visit our website at www.paramountnevada.com.
Paramount's strategy is to create shareholder value through the exploration and development of its mineral properties and then selling to, or entering into joint ventures with, producers for construction and operation.
Contact
Paramount Gold Nevada Corp.
Carlo Buffone, CFO
866-481-2233
Paramount Gold Nevada Corp.
Chris Theodossiou, Director of Corporate Communications
866-481-2233