Reclamation and Environmental

6 Months Ended

Dec. 31, 2025

Environmental Remediation Obligations [Abstract]

Reclamation and Environmental

Note 9. Reclamation and Environmental

Reclamation and environmental costs are based principally on legal requirements. Management estimates costs associated with reclamation of mineral properties and properties under mine closure. On an ongoing basis the Company evaluates its estimates and assumptions; however, actual amounts could differ from those based on estimates and assumptions.

The Company has posted several cash bonds as financial security to satisfy reclamation requirements. The balance of posted cash reclamation bonds at December 31, 2025 is $508,781 (June 30, 2025 - $546,176).

Paramount is responsible for managing the reclamation activities from the previous mine operations at the Sleeper Gold Mine as directed by the Bureau of Land Management ("BLM") and the Nevada State Department of Environmental Protection (“NDEP”). Paramount has estimated the undiscounted reclamation costs for existing disturbances and monitoring at the Sleeper Gold Project required by the BLM and NDEP to be $5,742,047 at December 31, 2025. These costs are expected to be incurred between the calendar years 2026 and 2060. The sum of expected costs by year are discounted using the Company’s credit adjusted risk free interest rate from the time it expects to pay the retirement to the time it incurs the obligation. The asset retirement obligation for the Sleeper Gold Project recorded on the balance sheet is equal to the present value of the estimated reclamation costs as required by both the BLM and NDEP (See Note 3).

The following variables were used in the calculation for the periods ending December 31, 2025 and June 30, 2025:

	Six Months Ended December 31, 2025			Year Ended June 30, 2025
Weighted-average credit adjusted risk free rate		9.90	%		9.90	%
Weighted-average inflation rate		2.53	%		2.53	%

Changes to the Company’s reclamation and environmental costs for the Sleeper Gold Mine for the six months ended December 31, 2025 and the year ended June 30, 2025 are as follows:

	Six Months Ended December 31, 2025			Year Ended June 30, 2025
Balance at beginning of period	$	2,293,765		$	2,270,288
Accretion expense		113,824			225,413
Additions and change in estimates		—			(81,936	)
Settlements		(60,000	)		(120,000	)
Balance at end of period	$	2,347,589		$	2,293,765

The balance of the reclamation and environmental obligation of $2,347,589 at December 31, 2025 (June 30, 2025 -$2,293,765) is comprised of a current portion of $120,000 (June 30, 2025 -$120,000) and a non-current portion of $2,227,589 (June 30, 2024 - $2,173,765).

The Company recorded an accretion expense for the three months ended December 31, 2025 and 2024 of $56,912 and $45,619, respectively.

The Company recorded an accretion expense for the six months ended December 31, 2025 and 2024 of $113,824 and $134,174, respectively.