Mineral Properties

12 Months Ended

Jun. 30, 2018

Mineral Industries Disclosures [Abstract]

Note 7. Mineral Properties

The Company has capitalized acquisition costs on mineral properties as follows:

	June 30, 2018		June 30, 2017
Sleeper	$	25,674,658	$	25,674,658
Grassy Mountain		23,185,728		20,785,728
	$	48,860,386	$	46,460,386

Sleeper:

Sleeper is located in Humbolt County, Nevada approximately 26 miles northwest of the town of Winnemucca. The Sleeper Gold Mine consists of 2,322 unpatented mining claims totaling approximately 38,300 acres.

Grassy Mountain:

The Grassy Mountain Project is located in Malheur County, Oregon, approximately 22 miles south of Vale, Oregon, and roughly 70 miles west of Boise, Idaho. It consists of 418 unpatented lode claims, 3 patented lode claims, 9 mill site claims, 6 association placer claims, and various leased fee land surface and surface/mineral rights, all totaling approximately 9,300 acres.

During the year ended June 30, 2018, Paramount exercised its option to reduce the existing Net Smelter Royalty (“NSR”) from 6% down to 1.5% and to acquire all rights to the private land at Grassy Mountain Project in Oregon for a total payment of $2.4 million.

During the year ended June 30, 2017, the Company sold non-core mining claims and recorded a gain on its statement of operations and comprehensive loss of $100,000.