Paramount Gold Nevada (PZG) 10-K 11 Sep 18 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2018	Sep. 07, 2018	Dec. 29, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	Paramount Gold Nevada Corp.
Entity Central Index Key	1,629,210
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Trading Symbol	PZG
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Common Stock, Shares Outstanding		25,474,954
Entity Public Float			$ 21.5

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2018	Jun. 30, 2017
Current Assets
Cash and cash equivalents	$ 297,389	$ 1,911,170
Prepaid and deposits	244,125	213,608
Accounts receivable		15,804
Other assets	16,292
Total Current Assets	557,806	2,140,582
Non-Current Assets
Mineral Properties (Note 7)	48,860,386	46,460,386
Property and equipment	8,927	12,659
Reclamation bond (Note 8)	1,769,501	2,086,562
Total Non-Current Assets	50,638,814	48,559,607
Total Assets	51,196,620	50,700,189
Current Liabilities
Accounts payable and accrued liabilities	927,962	873,127
Reclamation and environmental obligation, current portion (Note 8)	101,593	216,101
Total Current Liabilities	1,029,555	1,089,228
Non-Current Liabilities
Reclamation and environmental obligation, non-current portion (Note 8)	970,958	1,044,933
Total Liabilities	2,000,513	2,134,161
Stockholders' Equity
Common stock, par value $0.01, 50,000,000 authorized shares, 23,074,954 issued and outstanding at June 30, 2018 and 17,779,954 issued and outstanding at June 30, 2017	230,750	177,800
Additional paid in capital	90,695,497	84,050,214
Deficit	(41,730,140)	(35,661,986)
Total Stockholders' Equity	49,196,107	48,566,028
Total Liabilities and Stockholders' Equity	$ 51,196,620	$ 50,700,189

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2018	Jun. 30, 2017
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	23,074,954	17,779,954
Common stock, shares outstanding	23,074,954	17,779,954

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Revenue
Other income (Note 9)	$ 344,632	$ 280,671
Total Revenue	344,632	280,671
Expenses
Land holding costs	519,582	635,931
Professional fees	113,783	199,013
Salaries and benefits	657,070	831,181
Directors compensation	120,123	159,161
General and administrative	523,890	507,038
Insurance	117,824	144,572
Depreciation	3,732	4,764
Accretion (Note 8)	150,736	137,288
Total Expenses	6,429,352	7,992,647
Net Loss before other items	6,084,720	7,711,976
Other items
Interest income	(22,176)	(14,727)
Interest and service charges	5,610	2,404
Gain on sale of Mineral Property (Note 7)		(100,000)
Non recurring rebates		(44,633)
Net Loss before tax	6,068,154	7,555,020
Deferred tax recovery (Note 3)		(3,215,418)
Net Loss and Comprehensive Loss	$ 6,068,154	$ 4,339,602
Loss per Common share
Basic	$ 0.28	$ 0.27
Diluted	$ 0.28	$ 0.27
Weighted Average Number of Common Shares Used in Per Share Calculations
Basic	21,566,242	16,331,165
Diluted	21,566,242	16,331,165
Exploration
Expenses
Exploration	$ 4,222,612	$ 5,373,699

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-In Capital	Deficit
Balance at Jun. 30, 2016	$ 33,906,187	$ 85,188	$ 65,143,383	$ (31,322,384)
Balance (in shares) at Jun. 30, 2016		8,518,791
Stock based compensation	243,421		243,421
Capital issued for acquisition	15,202,866	$ 71,712	15,131,154
Capital issued for acquisition (in shares)		7,171,163
Capital issued for financing	3,553,156	$ 20,900	3,532,256
Capital issued for financing (in shares)		2,090,000
Net loss	(4,339,602)			(4,339,602)
Balance at Jun. 30, 2017	$ 48,566,028	$ 177,800	84,050,214	(35,661,986)
Balance (in shares) at Jun. 30, 2017	17,779,954	17,779,954
Stock based compensation	$ 71,335		71,335
Capital issued for financing	6,626,898	$ 52,950	6,573,948
Capital issued for financing (in shares)		5,295,000
Net loss	(6,068,154)			(6,068,154)
Balance at Jun. 30, 2018	$ 49,196,107	$ 230,750	$ 90,695,497	$ (41,730,140)
Balance (in shares) at Jun. 30, 2018	23,074,954	23,074,954

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Statement Of Cash Flows [Abstract]
Net Loss	$ (6,068,154)	$ (4,339,602)
Adjustment for:
Depreciation	3,732	4,764
Stock based compensation	71,335	243,421
Accretion expense (Note 8)	150,736	137,288
Change in reclamation	(22,158)	(14,724)
Insurance expense		24,517
Deferred tax recovery		(3,215,418)
(Increase) decrease in accounts receivable	15,804	(15,804)
(Increase) decrease in other assets	(16,292)
(Increase) decrease in prepaid expenses	(30,517)	(38,225)
Increase (decrease) in accounts payable and accrued liabilities	54,835	697,326
Cash used in operating activities	(5,840,679)	(6,516,457)
Acquisition of Calico		(1,006,964)
Purchase of mineral properties	(2,400,000)
Cash acquired in Calico transaction		4,363
Purchase of equipment		(2,527)
Cash used in investing activities	(2,400,000)	(1,005,128)
Capital issued for financing (Note 6)	6,626,898	3,558,497
Cash provided by financing activities	6,626,898	3,558,497
Change in cash during year	(1,613,781)	(3,963,088)
Cash at beginning of year	1,911,170	5,874,258
Cash at end of year	$ 297,389	$ 1,911,170

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Note 1. Description of Business and Summary of Significant Accounting Policies Paramount Gold Nevada Corp. (the “Company” or “Paramount”), incorporated under the General Corporation Law of the State of Nevada, and its wholly-owned subsidiaries are engaged in the acquisition, exploration and development of precious metal properties. The Company’s wholly owned subsidiaries include New Sleeper Gold LLC, Sleeper Mining Company, LLC, and Calico Resources USA Corp (“Calico”). The Company is in the process of exploring its mineral properties in Nevada and Oregon, United States. The Company’s activities are subject to significant risks and uncertainties, including the risk of failing to secure additional funding to advance its projects and the risks of determining whether these properties contain reserves that are economically recoverable. The Company’s shares of common stock trade on the NYSE AMERICAN LLC under the symbol “PZG”. Basis of Presentation and Preparation The consolidated financial statements are prepared by management in accordance with U.S. generally accepted accounting principles (‘U.S. GAAP”.) The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation. Marketable Securities The Company classifies its marketable securities as available-for-sale securities. The securities are measured at fair market value in the financial statements with unrealized gains and temporary losses on investments classified as available for sale are included within accumulated other comprehensive income, net of any related tax effect. Upon realization, such amounts are reclassified from accumulated other comprehensive income to other income, net, realized gains and losses and other than temporary impairments, if any, are reflected in the statements of operations as other income or expenses. The Company does not recognize changes in the fair value of its investments in income unless a decline in value is considered other than temporary. Use of Estimates The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made by management in the accompanying consolidated financial statements include the adequacy of the Company’s asset retirement obligations, valuation of deferred tax asset, and assessment of impairment of mineral properties. Cash and Cash Equivalents All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash and cash equivalents. The carrying amount of these securities approximates fair value because of the short-term maturity of these instruments. Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company maintains cash in accounts which may, at times, exceed federally insured limits. At June 30, 2018, there were no balances that were in excess of federally insured limits. We deposit our cash with financial institutions which we believe have sufficient credit quality to minimize the risk of loss. Fair Value Measurements The Company has adopted FASB ASC 820, Fair Value Measurements and Disclosures, which defines fair value, establishes guidelines for measuring fair value and expands disclosures regarding fair value measurements. The Company applies fair value accounting for all financial assets and liabilities and non – financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company has adopted FASB ASC 825, Financial Instruments, which allows companies to choose to measure eligible financial instruments and certain other items at fair value that are not required to be measured at fair value. The Company has not elected the fair value option for any eligible financial instruments. Stock Based Compensation The Company has adopted the provisions of FASB ASC 718, “ Stock Compensation Mineral Properties Mineral property acquisition costs are capitalized when incurred and will be amortized using the units-of-production method over the estimated life of the reserve following the commencement of production. If a mineral property is subsequently abandoned or impaired, any capitalized costs will be expensed in the period of abandonment or impairment. Acquisition costs include cash consideration and the fair market value of shares issued on the acquisition of mineral properties. Exploration Costs Exploration costs, which include maintenance, development and exploration of mineral claims, are expensed as incurred. When it is determined that a mineral deposit can be economically developed as a result of establishing proven and probable reserves, the costs incurred after such determination will be capitalized and amortized over their useful lives. To date, the Company has not established the commercial feasibility of its exploration prospects; therefore, all exploration costs are being expensed. Property and Equipment Equipment is recorded at cost less accumulated depreciation. All equipment is depreciated over its estimated useful life at the following annual rates: Computer equipment 30% declining balance Equipment 20% declining balance Asset Retirement Obligations The Company follows the provisions of ASC 440, “Asset Retirement and Environmental Obligations”, which establishes the standards for the initial measurement and subsequent accounting for obligations associated with the sale, abandonment, or other disposal of long-lived tangible assets arising from the acquisition, construction or development and for normal operations of such assets. The Company’s asset retirement obligations are further described in Note 8. Net Loss per Share Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of shares outstanding during each period. Diluted loss per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the years ended June 30, 2018 and 2017, the shares of common stock equivalents related to outstanding stock options have not been included in the diluted per share calculation as they are anti-dilutive as the Company has recorded a net loss from continuing operations for each year. Revenue Recognition Revenue is recognized when persuasive evidence that an agreement exists, the risks and rewards of ownership pass to the purchaser, the selling price is fixed and determinable; or collection is reasonably assured. The passing of title to the purchaser is based on the terms of the purchase and sale agreement. Income Taxes Income taxes are determined using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted FASB ASC 740 as of its inception. Pursuant to FASB ASC 740 the Company is required to compute tax asset benefits for net operating losses carried forward. Potential benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future periods; and accordingly is offset by a valuation allowance. FIN No.48 prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of tax positions taken in tax returns. To the extent interest and penalties may be assessed by taxing authorities on any underpayment of income tax, such amounts would be accrued and classified as a component of income tax expense in our Consolidated Statements of Operations and Comprehensive Loss. The Company elected this accounting policy, which is a continuation of our historical policy, in connection with our adoption of FIN 48.

Recent Accounting Guidance

Recent Accounting Guidance	12 Months Ended
	Jun. 30, 2018
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Guidance	Note 2. Recent Accounting Guidance In August 2016, the FASB issued ASU 2016-15, “ Statement of Cash Flows (Topic 230), ” which provides guidance on presentation and classification of certain cash receipts and payments in the statement of cash flows. These changes become effective for the Company's fiscal year beginning July 1, 2018 and is not expected to impact the Company's consolidated cash flows disclosures. In November 2016, the FASB issued ASU 2016-18, “ Statement of Cash Flows (Topic 230) - Restricted Cash, ” which will require entities to show the changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents in the statement of cash flows. These changes become effective for the Company's fiscal year beginning July 1, 2018 and is not expected to impact the Company's consolidated financial position, results of operations, and cash flows. In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805) - Clarifying the Definition of a Business,” which clarifies the definition of a business to assist entities in the evaluation of acquisitions and disposals of assets or businesses. These changes become effective for the Company’s fiscal year beginning July 1, 2018 and is not expected to impact the Company’s consolidated financial position, results of operations, and cash flows.

Acquisitions

Acquisitions	12 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Acquisitions	Note 3. Acquisitions On July 7, 2016, the Company completed the acquisition of Calico, which held mining claims and the Grassy Mountain Gold Project in Oregon, USA. Upon closing of the transaction, Calico became a wholly-owned subsidiary of the Company, and each issued and outstanding share of Calico common stock was converted into 0.07 shares of Paramount common stock. The transaction was accounted for as an asset acquisition, as Calico is an exploration stage project, which requires that the total purchase price be allocated to the assets acquired and liabilities assumed based on their relative fair values. Transaction advisory fees and other acquisition costs incurred prior to the closing of the transaction were recorded as Other Assets on the Balance Sheet. The purchase price and acquired assets and liabilities were as follows: Common shares issued (7,171,163 at $2.12) $ 15,202,866 Transaction advisory fees and other acquisition costs 795,925 Total purchase price $ 15,998,791 Assets: Cash $ 4,363 Receivables and other current assets 28,093 Mineral properties 20,785,728 20,818,184 Liabilities: Accounts payable and accrued liabilities 1,603,975 Deferred tax liability 3,215,418 4,819,393 Net assets acquired $ 15,998,791 Pursuant to the acquisition of Calico, the Company recorded a deferred tax liability of $3,215,418. Subsequent to the acquisition, the Company determined that it would be able to utilize the benefit of its tax operating loss carryforwards and adjusted its valuation allowance to recognize the benefit of these previously unrecognized deferred tax assets and offset the deferred tax liability. Accordingly, the Company recognized a deferred tax recovery of $3,215,418 on the Consolidated Statement of Operations and Comprehensive Loss for the year ended June 30, 2017.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4. Fair Value Measurements Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization with the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy under ASC 820 are described below: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 Inputs that are both significant to the fair value measurement and unobservable. The following table sets forth the Company’s financial assets and liabilities measured at fair value by level within the fair value hierarchy. As required by ASC 820, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value at June 30, 2018 June 30, 2017 Assets Total Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 297,389 297,389 — — $ 1,911,170 The Company’s cash and cash equivalents are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. The cash and cash equivalents that are valued based on quoted market prices in active markets are primarily comprised of commercial paper, short-term certificates of deposit and U.S. Treasury securities.

Non-Cash Transactions

Non-Cash Transactions	12 Months Ended
	Jun. 30, 2018
Nonmonetary Transactions [Abstract]
Non-Cash Transactions	Note 5. Non-Cash Transactions During the year ended June 30, 2018, the Company did not enter into any non-cash activities. During the year ended June 30, 2017, the Company issued 7,171,163 shares of its common stock with a value of $15,202,866 for the acquisition of Calico Resources Corp.

Capital Stock

Capital Stock	12 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Capital Stock	Note 6. Capital Stock Authorized Capital Authorized capital stock consists of 50,000,000 common shares with par value of $0.01 per common share (2017- 50,000,000 common shares with par value $0.01 per common share). During the year-ended June 30, 2018, the Company issued 5,295,000 shares of its common stock. The issuance was a result of a public offering of 3,520,000 shares of common stock for gross proceeds of $4.9 million and of a private placement of 1,775,000 shares of common stock for gross proceeds of $2.5 million. Share issuance costs were $0.79 million for net proceeds of $6.6 million. On February 14, 2017, the Company issued 2,090,000 units at $1.75 per unit for aggregate gross proceeds of $3,657,500 in a non-brokered private placement funding with accredited investors. Each unit consists of one share of common stock and one warrant to purchase one-half of a share of common stock. Each warrant will have a two-year term and is exercisable at the following exercise prices: in the first year at $2.00 per share or in the second year at $2.25 per share. As a result of the issuance of units, the Company recorded an increase in the additional paid in capital of $3,532,256 which included a fair value for the warrants of $473,658 at the time of the transaction. At June 30, 2018 there were 23,074,954 common shares issued and outstanding (June 30, 2017 - 17,779,954 common shares). Warrants A summary of warrant activity as of June 30, 2018, and changes during year ended is presented below: Warrants Weighted Average Exercise Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic ($) Outstanding at July 1, 2017 1,045,000 $ 2.13 1.67 — Issued — — — — Outstanding at June 30, 2018 1,045,000 $ 2.13 .67 — Stock Options and Stock Based Compensation Paramount’s 2015 and 2016 Stock Incentive and Compensation Plan, which is shareholder-approved, permits the grant of share options and shares to its employees for up to 1.569 million shares of common stock. Option awards are generally granted with an exercise price equal to the market price of Paramount’s stock at the date of grant and have contractual lives of 5 years. To better align the interests of its key executives and employees with those of its shareholders a significant portion of those share option awards will vest contingent upon meeting certain stock price appreciation performance goals. Option and share awards provide for accelerated vesting if there is a change in control (as defined in the employee share option plan). The fair value of option awards that have market conditions are estimated on the date of grant using a Monte-Carlo Simulation valuation model. The award’s grant date fair value is determined by taking the average of the grant date fair values under each of many Monte Carlo trials. The key assumptions used in the simulations were as follows: 2018 2017 Weighted average risk-free interest rate 0.00 % 1.26 % Weighted-average volatility 0.00 % 70.26 % Weighted average fair value $ — $ 1.22 The fair value of option awards that do not have market conditions are estimated on the date of grant using a Black-Scholes option valuation model that uses the assumptions noted in the following table. Because Black-Scholes option valuation models incorporate ranges of assumptions for inputs, those ranges are disclosed. Given Paramount’s short history as a public company, expected volatilities are based on, historical volatilities from five proxy companies’ stock. Paramount uses historical data to estimate option exercise and employee termination within the valuation model; separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The expected term of options granted is derived from the output of the option valuation model and represents the period of time that options granted are expected to be outstanding; the range given below results from certain groups of employees exhibiting different behavior. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. 2018 2017 Weighted average risk-free interest rate 2.54 % 1.26 % Weighted-average volatility 67.16 % 70.26 % Expected dividends 0.00 0.00 Weighted average expected term (years) 5 5 Weighted average fair value $ 0.78 $ 1.23 A summary of option activity under the Stock Incentive and Compensation Plan as of June 30, 2018, and changes during the year then ended is presented below. Options Shares Weighted Average Exercise Weighted-Average Remaining Contractual Aggregate Intrinsic ($) Outstanding at July 1, 2017 1,045,000 $ 1.54 3.02 Granted 523,995 1.37 Exercised — — Forfeited or expired — — Outstanding at June 30, 2018 1,568,995 $ 1.50 2.86 $ — Exercisable at June 30, 2018 1,011,666 $ 1.54 1.95 $ — A summary of the status of Paramount’s non-vested shares as of June 30, 2018 and changes during the year ended June 30, 2018 is presented below. Nonvested Options Shares Weighted- Average Value Nonvested at July 1, 2017 33,334 $ 1.23 Granted 523,995 0.78 Vested — — Forfeited — — Nonvested at June 30, 2018 557,329 $ 0.79 As of June 30, 2018, there was $330,071 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the employee share option plan. That cost is expected to be recognized over a weighted-average period of 1.7 years. The total fair value of shares vested during the years ended June 30, 2018 and 2017, was $nil and $6,800, respectively.

Mineral Properties

Mineral Properties	12 Months Ended
	Jun. 30, 2018
Mineral Industries Disclosures [Abstract]
Mineral Properties	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.

Reclamation and Environmental

Reclamation and Environmental	12 Months Ended
	Jun. 30, 2018
Environmental Remediation Obligations [Abstract]
Reclamation and Environmental	Note 8. Reclamation and Environmental: The Company holds an insurance policy which is in effect until 2033 related to its Sleeper Gold Project. The policy covers reclamation costs up to an aggregate of $25 million in the event the Company’s bond is insufficient to cover any mandated reclamation obligations. As a part of its insurance program, the Company has funds in a commutation account which is used to reimburse reclamation costs and indemnity claims. The balance of the commutation account at June 30, 2018 is $1,769,501 (June 30, 2017 - $2,086,562). 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 asset retirement obligation at the Sleeper Gold Project has been measured using the following variables: 1) Expected costs for earthwork, re-vegetation, in-pit water treatment, on-going monitoring, labor and management, 2) Inflation adjustment, and 3) Market risk premium. The sum of the expected costs by year is discounted using the Company’s credit adjusted risk free interest rate from the time it expects to pay the retirement obligation to the time it incurs the obligation. The reclamation and environmental obligation recorded on the balance sheet is equal to the present value of the estimated costs. The current undiscounted estimate of the reclamation costs for existing disturbances at the Sleeper Gold Project is $3,835,050 as required by U.S Bureau of Land Management and the Nevada Department of Environmental Protection. Assumptions used to compute the asset retirement obligations for the year ended June 30, 2018 for the Sleeper Gold Project included a credit adjusted risk free rate and inflation rate of 9.76% (2016 – 9.76%) and 2.0% (2016 – 2.0%), respectively. Expenses are expected to be incurred between the years 2018 and 2056. Changes to the Company’s asset retirement obligations for the year ended June 30, 2018 are as follows: June 30, 2018 June 30, 2017 Balance at beginning of year $ 1,261,034 $ 1,402,039 Accretion expense 150,736 137,288 Payments (339,219 ) (278,293 ) Change in estimate of existing obligation — — Balance at end of year $ 1,072,551 $ 1,261,034 The balance of the asset retirement obligation of $1,072,551 (2017 - $1,261,034) is comprised of a current portion of $101,593 (2017 - $216,101) and a non-current portion of $970,958 (2016 - $1,044,933).

Other Income

Other Income	12 Months Ended
	Jun. 30, 2018
Other Income [Abstract]
Other Income	Note 9. Other Income The Company’s other income details were as follows: Year Ended Year Ended 2018 2017 Re-imbursement of reclamation costs $ 339,219 $ 275,365 Leasing of water rights to third party 5,413 5,306 Total $ 344,632 $ 280,671

Segmented Information

Segmented Information	12 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segmented Information	Note 10. Segmented Information Segmented information has been compiled based on the material mineral properties in which the Company performs exploration activities. Expenses and mineral property carrying values by material project for the year ended June 30, 2018: Exploration Expenses Land Holding Costs Mineral Properties As at June 30, 2018 Sleeper Gold Project $ 761,296 $ 409,837 $ 25,674,658 Grassy Mountain Project 3,461,316 109,745 23,185,728 $ 4,222,612 $ 519,582 $ 48,860,386 Expenses and mineral property carrying values by material project for the year ended June 30, 2017: Exploration Expenses Land Holding Costs Mineral Properties As at June 30, 2017 Sleeper Gold Project $ 557,631 $ 423,876 $ 25,674,658 Grassy Mountain Project 4,816,068 212,055 20,785,728 $ 5,373,699 $ 635,931 $ 46,460,386

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 11. Income Taxes At June 30, 2018, the Company has net operating loss carry forwards of $38,295,657 (2017 - $33,896,156) expiring between the years 2029 and 2037 which are available to reduce future taxable income. The tax effects of the significant components within the Company’s deferred tax asset (liability) at June 30, 2018 and 2017 are as follows: United States 2018 2017 Mineral properties $ 166,476 $ (248,008 ) Asset retirement obligation 225,236 428,572 Stock options 264,898 404,628 Net operating losses 8,042,088 9,826,149 $ 8,698,698 $ 10,411,341 Valuation allowance (8,698,698 ) (10,411,341 ) Net deferred tax asset $ — — The income tax recovery differs from the amounts computed by applying statutory tax to pre-tax losses as a result of the following: 2018 2017 Income (Loss) before taxes $ (6,068,154 ) $ (7,555,020 ) US Statutory tax rate 21.00 % 34.00 % Expected income tax (recovery) (1,274,312 ) (2,568,707 ) Non-deductible items 78 171 Change in estimates (1,609,037 ) (1,866,223 ) Change in tax rates 4,596,096 — Change in valuation allowance (1,712,825 ) 1,219,341 Total income taxes (recovery) $ — $ (3,215,418 ) Current tax expense (recovery) — — Deferred tax expense (recovery) — (3,215,418 ) $ — $ — The potential tax benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years. Accounting for uncertainty for Income Tax Income taxes are determined using assets and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. Effective July 1, 2009, the Company adopted the interpretation for accounting for uncertainty in income taxes which was an interpretation of the accounting standard accounting for income taxes. This interpretation created a single model to address accounting for uncertainty in tax positions. This interpretation clarifies the accounting for income taxes, by prescribing a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. As at June 30, 2018 and 2017, the Company’s consolidated balance sheets did not reflect a liability for uncertain tax positions, nor any accrued penalties or interest associated with income tax uncertainties. The Company is subject to income taxation at the federal and state levels. The Company is subject to US federal tax examinations for the tax years 2010 through 2017. Loss carryforwards generated or utilized in years earlier than 2010 are also subject to examination and adjustment. The Company has no income tax examinations in process.

Summary of Quarterly Financial

Summary of Quarterly Financial Data (Unaudited)	12 Months Ended
	Jun. 30, 2018
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Financial Data (Unaudited)	Note 12. Summary of Quarterly Financial Data (Unaudited) The following table sets forth a summary of the unaudited quarterly results of operations for the years ended June 30, 2018 and 2017: 2018 Q1 Q2 Q3 Q4 Revenue $ 85,548 $ - $ 22,260 $ 236,824 Net loss before other items 1,084,587 1,821,217 1,665,511 1,513,405 Net loss 1,082,719 1,818,890 1,658,748 1,507,797 Net loss per Common Share Basic $ 0.06 $ 0.08 $ 0.07 $ 0.07 Diluted $ 0.06 $ 0.08 $ 0.07 $ 0.07 2017 Q1 Q2 Q3 Q4 Revenue $ 5,306 $ 40,599 $ 237,694 $ (2,928 ) Net loss before other items 1,265,014 1,867,372 1,527,443 3,052,147 Net loss (income) (1,953,496 ) 1,824,892 1,424,462 3,043,744 Net loss (income) per Common Share Basic $ (0.13 ) $ 0.12 $ 0.09 $ 0.19 Diluted $ (0.13 ) $ 0.12 $ 0.09 $ 0.19

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13. Commitments and Contingencies: Lease Commitments The Company has office premises leases that expire at various dates until June 30, 2021. The aggregate minimum rentals payable for these operating leases are as follows: Year Total Amount 2019 $ 10,152 2020 $ 10,364 2021 $ 10,575 During the year ended June 30, 2018, $32,542 was recognized as rent expense in the statement of operations and comprehensive loss.

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events Subsequent to the year-ended June 30, 2018, the Company issued 2,400,000 units at $1.25 per unit for aggregate proceeds of $3,000,000. Each unit consists of one share of common stock and one warrant to purchase one-half of a share of common stock. Each warrant will have a two-year term and will be exercisable at the following exercise prices: in the first year at $1.30 per share and in the second year at $1.50 per share.

Description of Business and S21

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation and Preparation	Basis of Presentation and Preparation The consolidated financial statements are prepared by management in accordance with U.S. generally accepted accounting principles (‘U.S. GAAP”.) The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation.
Marketable Securities	Marketable Securities The Company classifies its marketable securities as available-for-sale securities. The securities are measured at fair market value in the financial statements with unrealized gains and temporary losses on investments classified as available for sale are included within accumulated other comprehensive income, net of any related tax effect. Upon realization, such amounts are reclassified from accumulated other comprehensive income to other income, net, realized gains and losses and other than temporary impairments, if any, are reflected in the statements of operations as other income or expenses. The Company does not recognize changes in the fair value of its investments in income unless a decline in value is considered other than temporary.
Use of Estimates	Use of Estimates The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made by management in the accompanying consolidated financial statements include the adequacy of the Company’s asset retirement obligations, valuation of deferred tax asset, and assessment of impairment of mineral properties.
Cash and Cash Equivalents	Cash and Cash Equivalents All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash and cash equivalents. The carrying amount of these securities approximates fair value because of the short-term maturity of these instruments.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company maintains cash in accounts which may, at times, exceed federally insured limits. At June 30, 2018, there were no balances that were in excess of federally insured limits. We deposit our cash with financial institutions which we believe have sufficient credit quality to minimize the risk of loss.
Fair Value Measurements	Fair Value Measurements The Company has adopted FASB ASC 820, Fair Value Measurements and Disclosures, which defines fair value, establishes guidelines for measuring fair value and expands disclosures regarding fair value measurements. The Company applies fair value accounting for all financial assets and liabilities and non – financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company has adopted FASB ASC 825, Financial Instruments, which allows companies to choose to measure eligible financial instruments and certain other items at fair value that are not required to be measured at fair value. The Company has not elected the fair value option for any eligible financial instruments.
Stock Based Compensation	Stock Based Compensation The Company has adopted the provisions of FASB ASC 718, “ Stock Compensation
Mineral Properties	Mineral Properties Mineral property acquisition costs are capitalized when incurred and will be amortized using the units-of-production method over the estimated life of the reserve following the commencement of production. If a mineral property is subsequently abandoned or impaired, any capitalized costs will be expensed in the period of abandonment or impairment. Acquisition costs include cash consideration and the fair market value of shares issued on the acquisition of mineral properties.
Exploration Costs	Exploration Costs Exploration costs, which include maintenance, development and exploration of mineral claims, are expensed as incurred. When it is determined that a mineral deposit can be economically developed as a result of establishing proven and probable reserves, the costs incurred after such determination will be capitalized and amortized over their useful lives. To date, the Company has not established the commercial feasibility of its exploration prospects; therefore, all exploration costs are being expensed.
Property and Equipment	Property and Equipment Equipment is recorded at cost less accumulated depreciation. All equipment is depreciated over its estimated useful life at the following annual rates: Computer equipment 30% declining balance Equipment 20% declining balance
Asset Retirement Obligations	Asset Retirement Obligations The Company follows the provisions of ASC 440, “Asset Retirement and Environmental Obligations”, which establishes the standards for the initial measurement and subsequent accounting for obligations associated with the sale, abandonment, or other disposal of long-lived tangible assets arising from the acquisition, construction or development and for normal operations of such assets. The Company’s asset retirement obligations are further described in Note 8.
Net Loss per Share	Net Loss per Share Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of shares outstanding during each period. Diluted loss per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the years ended June 30, 2018 and 2017, the shares of common stock equivalents related to outstanding stock options have not been included in the diluted per share calculation as they are anti-dilutive as the Company has recorded a net loss from continuing operations for each year.
Revenue Recognition	Revenue Recognition Revenue is recognized when persuasive evidence that an agreement exists, the risks and rewards of ownership pass to the purchaser, the selling price is fixed and determinable; or collection is reasonably assured. The passing of title to the purchaser is based on the terms of the purchase and sale agreement.
Income Taxes	Income Taxes Income taxes are determined using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted FASB ASC 740 as of its inception. Pursuant to FASB ASC 740 the Company is required to compute tax asset benefits for net operating losses carried forward. Potential benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future periods; and accordingly is offset by a valuation allowance. FIN No.48 prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of tax positions taken in tax returns. To the extent interest and penalties may be assessed by taxing authorities on any underpayment of income tax, such amounts would be accrued and classified as a component of income tax expense in our Consolidated Statements of Operations and Comprehensive Loss. The Company elected this accounting policy, which is a continuation of our historical policy, in connection with our adoption of FIN 48.
Recent Accounting Guidance	In August 2016, the FASB issued ASU 2016-15, “ Statement of Cash Flows (Topic 230), ” which provides guidance on presentation and classification of certain cash receipts and payments in the statement of cash flows. These changes become effective for the Company's fiscal year beginning July 1, 2018 and is not expected to impact the Company's consolidated cash flows disclosures. In November 2016, the FASB issued ASU 2016-18, “ Statement of Cash Flows (Topic 230) - Restricted Cash, ” which will require entities to show the changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents in the statement of cash flows. These changes become effective for the Company's fiscal year beginning July 1, 2018 and is not expected to impact the Company's consolidated financial position, results of operations, and cash flows. In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805) - Clarifying the Definition of a Business,” which clarifies the definition of a business to assist entities in the evaluation of acquisitions and disposals of assets or businesses. These changes become effective for the Company’s fiscal year beginning July 1, 2018 and is not expected to impact the Company’s consolidated financial position, results of operations, and cash flows.

Description of Business and S22

Description of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Fixed Assets	Equipment is recorded at cost less accumulated depreciation. All equipment is depreciated over its estimated useful life at the following annual rates: Computer equipment 30% declining balance Equipment 20% declining balance

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Jun. 30, 2018
Calico Resources Corp.
Schedule of Purchase Price and Acquired Assets and Liabilities	The purchase price and acquired assets and liabilities were as follows: Common shares issued (7,171,163 at $2.12) $ 15,202,866 Transaction advisory fees and other acquisition costs 795,925 Total purchase price $ 15,998,791 Assets: Cash $ 4,363 Receivables and other current assets 28,093 Mineral properties 20,785,728 20,818,184 Liabilities: Accounts payable and accrued liabilities 1,603,975 Deferred tax liability 3,215,418 4,819,393 Net assets acquired $ 15,998,791

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	The following table sets forth the Company’s financial assets and liabilities measured at fair value by level within the fair value hierarchy. As required by ASC 820, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value at June 30, 2018 June 30, 2017 Assets Total Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 297,389 297,389 — — $ 1,911,170

Capital Stock (Tables)

Capital Stock (Tables)	12 Months Ended
	Jun. 30, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Option Activity Under Stock Incentive and Compensation Plan	A summary of option activity under the Stock Incentive and Compensation Plan as of June 30, 2018, and changes during the year then ended is presented below. Options Shares Weighted Average Exercise Weighted-Average Remaining Contractual Aggregate Intrinsic ($) Outstanding at July 1, 2017 1,045,000 $ 1.54 3.02 Granted 523,995 1.37 Exercised — — Forfeited or expired — — Outstanding at June 30, 2018 1,568,995 $ 1.50 2.86 $ — Exercisable at June 30, 2018 1,011,666 $ 1.54 1.95 $ —
Summary of Status of Non-Vested Shares	A summary of the status of Paramount’s non-vested shares as of June 30, 2018 and changes during the year ended June 30, 2018 is presented below. Nonvested Options Shares Weighted- Average Value Nonvested at July 1, 2017 33,334 $ 1.23 Granted 523,995 0.78 Vested — — Forfeited — — Nonvested at June 30, 2018 557,329 $ 0.79
Monte-Carlo Simulation valuation model | Option awards with performance conditions
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Changes in Fair Value Assumptions	The key assumptions used in the simulations were as follows: 2018 2017 Weighted average risk-free interest rate 0.00 % 1.26 % Weighted-average volatility 0.00 % 70.26 % Weighted average fair value $ — $ 1.22
Black-Scholes option valuation model | Option awards without performance conditions
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Changes in Fair Value Assumptions	The fair value of option awards that do not have market conditions are estimated on the date of grant using a Black-Scholes option valuation model that uses the assumptions noted in the following table. Because Black-Scholes option valuation models incorporate ranges of assumptions for inputs, those ranges are disclosed. Given Paramount’s short history as a public company, expected volatilities are based on, historical volatilities from five proxy companies’ stock. Paramount uses historical data to estimate option exercise and employee termination within the valuation model; separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The expected term of options granted is derived from the output of the option valuation model and represents the period of time that options granted are expected to be outstanding; the range given below results from certain groups of employees exhibiting different behavior. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. 2018 2017 Weighted average risk-free interest rate 2.54 % 1.26 % Weighted-average volatility 67.16 % 70.26 % Expected dividends 0.00 0.00 Weighted average expected term (years) 5 5 Weighted average fair value $ 0.78 $ 1.23
Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Warrant Activity	A summary of warrant activity as of June 30, 2018, and changes during year ended is presented below: Warrants Weighted Average Exercise Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic ($) Outstanding at July 1, 2017 1,045,000 $ 2.13 1.67 — Issued — — — — Outstanding at June 30, 2018 1,045,000 $ 2.13 .67 —

Mineral Properties (Tables)

Mineral Properties (Tables)	12 Months Ended
	Jun. 30, 2018
Mineral Industries Disclosures [Abstract]
Capitalized Acquisition Costs on 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

Reclamation and Environmental (

Reclamation and Environmental (Tables)	12 Months Ended
	Jun. 30, 2018
Environmental Remediation Obligations [Abstract]
Changes to Asset Retirement Obligation	Changes to the Company’s asset retirement obligations for the year ended June 30, 2018 are as follows: June 30, 2018 June 30, 2017 Balance at beginning of year $ 1,261,034 $ 1,402,039 Accretion expense 150,736 137,288 Payments (339,219 ) (278,293 ) Change in estimate of existing obligation — — Balance at end of year $ 1,072,551 $ 1,261,034

Other Income (Tables)

Other Income (Tables)	12 Months Ended
	Jun. 30, 2018
Other Income [Abstract]
Other Income Details	The Company’s other income details were as follows: Year Ended Year Ended 2018 2017 Re-imbursement of reclamation costs $ 339,219 $ 275,365 Leasing of water rights to third party 5,413 5,306 Total $ 344,632 $ 280,671

Segmented Information (Tables)

Segmented Information (Tables)	12 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Schedule of Expenses and Mineral Property Carrying Values by Material Project	Expenses and mineral property carrying values by material project for the year ended June 30, 2018: Exploration Expenses Land Holding Costs Mineral Properties As at June 30, 2018 Sleeper Gold Project $ 761,296 $ 409,837 $ 25,674,658 Grassy Mountain Project 3,461,316 109,745 23,185,728 $ 4,222,612 $ 519,582 $ 48,860,386 Expenses and mineral property carrying values by material project for the year ended June 30, 2017: Exploration Expenses Land Holding Costs Mineral Properties As at June 30, 2017 Sleeper Gold Project $ 557,631 $ 423,876 $ 25,674,658 Grassy Mountain Project 4,816,068 212,055 20,785,728 $ 5,373,699 $ 635,931 $ 46,460,386

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Schedule of Company's Deferred Tax Asset (Liability)	The tax effects of the significant components within the Company’s deferred tax asset (liability) at June 30, 2018 and 2017 are as follows: United States 2018 2017 Mineral properties $ 166,476 $ (248,008 ) Asset retirement obligation 225,236 428,572 Stock options 264,898 404,628 Net operating losses 8,042,088 9,826,149 $ 8,698,698 $ 10,411,341 Valuation allowance (8,698,698 ) (10,411,341 ) Net deferred tax asset $ — —
Schedule of Income Tax Recovery Differs from Amounts Computed by Applying Statutory Tax to Pre-tax Losses	The income tax recovery differs from the amounts computed by applying statutory tax to pre-tax losses as a result of the following: 2018 2017 Income (Loss) before taxes $ (6,068,154 ) $ (7,555,020 ) US Statutory tax rate 21.00 % 34.00 % Expected income tax (recovery) (1,274,312 ) (2,568,707 ) Non-deductible items 78 171 Change in estimates (1,609,037 ) (1,866,223 ) Change in tax rates 4,596,096 — Change in valuation allowance (1,712,825 ) 1,219,341 Total income taxes (recovery) $ — $ (3,215,418 ) Current tax expense (recovery) — — Deferred tax expense (recovery) — (3,215,418 ) $ — $ —

Summary of Quarterly Financia31

Summary of Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Jun. 30, 2018
Quarterly Financial Information Disclosure [Abstract]
Summary of Unaudited Quarterly Results of Operations	The following table sets forth a summary of the unaudited quarterly results of operations for the years ended June 30, 2018 and 2017: 2018 Q1 Q2 Q3 Q4 Revenue $ 85,548 $ - $ 22,260 $ 236,824 Net loss before other items 1,084,587 1,821,217 1,665,511 1,513,405 Net loss 1,082,719 1,818,890 1,658,748 1,507,797 Net loss per Common Share Basic $ 0.06 $ 0.08 $ 0.07 $ 0.07 Diluted $ 0.06 $ 0.08 $ 0.07 $ 0.07 2017 Q1 Q2 Q3 Q4 Revenue $ 5,306 $ 40,599 $ 237,694 $ (2,928 ) Net loss before other items 1,265,014 1,867,372 1,527,443 3,052,147 Net loss (income) (1,953,496 ) 1,824,892 1,424,462 3,043,744 Net loss (income) per Common Share Basic $ (0.13 ) $ 0.12 $ 0.09 $ 0.19 Diluted $ (0.13 ) $ 0.12 $ 0.09 $ 0.19

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Jun. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Schedule of Aggregate Minimum Rentals Payable for Operating Leases	The Company has office premises leases that expire at various dates until June 30, 2021. The aggregate minimum rentals payable for these operating leases are as follows: Year Total Amount 2019 $ 10,152 2020 $ 10,364 2021 $ 10,575

Description of Business and S33

Description of Business and Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Jun. 30, 2018USD ($)
Accounting Policies [Abstract]
Concentration of credit risk uninsured cash amount	$ 0
Cash, Uninsured Amount, Description	We deposit our cash with financial institutions which we believe have sufficient credit quality to minimize the risk of loss

Description of Business and S34

Description of Business and Summary of Significant Accounting Policies - Fixed Assets (Details)	12 Months Ended
	Jun. 30, 2018
Computer equipment
Property Plant And Equipment [Line Items]
Percentage of annual amortization rate on declining balance (in hundredths)	30.00%
Equipment
Property Plant And Equipment [Line Items]
Percentage of annual amortization rate on declining balance (in hundredths)	20.00%

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($)	Jul. 07, 2016	Jun. 30, 2017
Business Acquisition [Line Items]
Deferred tax recovery		$ 3,215,418
Calico Resources Corp.
Business Acquisition [Line Items]
Business acquisition date	Jul. 7, 2016
Percentage of stock converted into shares of common stock	7.00%
Deferred tax liability	$ 3,215,418
Deferred tax recovery		$ 3,215,418

Acquisitions - Schedule of Purc

Acquisitions - Schedule of Purchase Price and Acquired Assets and Liabilities (Details) - Calico Resources Corp. - USD ($)	Jul. 07, 2016	Jun. 30, 2017
Business Acquisition [Line Items]
Transaction advisory fees and other acquisition costs	$ 795,925
Total purchase price	15,998,791
Assets:
Cash	4,363
Receivables and other current assets	28,093
Mineral properties	20,785,728
Total acquired assets	20,818,184
Liabilities:
Accounts payable and accrued liabilities	1,603,975
Deferred tax liability	3,215,418
Total acquired liabilities	4,819,393
Net assets acquired	15,998,791
Common Stock
Business Acquisition [Line Items]
Common shares issued (7,171,163 at $2.12)	$ 15,202,866	$ 15,202,866

Acquisitions - Schedule of Pu37

Acquisitions - Schedule of Purchase Price and Acquired Assets and Liabilities (Parenthetical) (Details) - Calico Resources Corp. - Common Stock - $ / shares	Jul. 07, 2016	Jun. 30, 2017
Business Acquisition [Line Items]
Common shares issued, shares	7,171,163	7,171,163
Common shares issued ,share price	$ 2.12

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets and Liabilities (Details) - Fair Value, Measurements, Recurring - USD ($)	Jun. 30, 2018	Jun. 30, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 297,389	$ 1,911,170
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 297,389

Non-Cash Transactions - Additio

Non-Cash Transactions - Additional Information (Details) - USD ($)	Jul. 07, 2016	Jun. 30, 2018	Jun. 30, 2017
Nonmonetary Transaction [Line Items]
Amount of non-cash activities		$ 0
Calico Resources Corp. | Common Stock
Nonmonetary Transaction [Line Items]
Common shares issued for acquisition	7,171,163		7,171,163
Value of common shares issued for acquisition	$ 15,202,866		$ 15,202,866

Capital Stock - Additional Info

Capital Stock - Additional Information (Details) - USD ($)	Feb. 14, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Capital stock, shares authorized		50,000,000	50,000,000
Capital stock, par value		$ 0.01	$ 0.01
Gross proceeds from issuance of shares		$ 6,626,898	$ 3,558,497
Proceeds from issuance of common stock and warrants	$ 3,657,500
Aggregate number of units issued (in shares)	2,090,000
Aggregate number of units issued, per unit ($ per shares)	$ 1.75
Sale of equity units description		Each unit consists of one share of common stock and one warrant to purchase one-half of a share of common stock.
Class of warrant description		Each warrant will have a two-year term and is exercisable at the following exercise prices: in the first year at $2.00 per share or in the second year at $2.25 per share.
Increase in additional paid in capital as a result of issuance of units	$ 3,532,256
Increase in additional paid in capital, fair value of warrants	$ 473,658
Capital stock, shares issued		23,074,954	17,779,954
Capital stock, shares outstanding		23,074,954	17,779,954
Total unrecognized compensation cost related to nonvested share based compensation		$ 330,071
Expected weighted-average period of unrecognized compensation cost		1 year 8 months 12 days
Total fair values shares vested		$ 0	$ 6,800
Measurement Input Expected Term
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term of warrant	2 years
Exercisable in First Year
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of warrants	$ 2
Exercisable in Second Year
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of warrants	$ 2.25
2015 and 2016 Stock Incentive and Compensation Plans
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average remaining contractual term (in years), grants		5 years
2015 and 2016 Stock Incentive and Compensation Plans | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options and shares available for grant to employees		1,569,000
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares issued		5,295,000
Share issuance costs		$ 790,000
Proceeds from issuance of common stock and warrants		$ 6,600,000
Capital stock, shares outstanding		23,074,954	17,779,954	8,518,791
Public Offering | Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares issued		3,520,000
Gross proceeds from issuance of shares		$ 4,900,000
Private Placement | Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares issued		1,775,000
Gross proceeds from issuance of shares		$ 2,500,000

Capital Stock - Summary of Warr

Capital Stock - Summary of Warrant Activity (Details) - Warrants - $ / shares	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Class Of Warrant Or Right [Line Items]
Warrants, Outstanding, Beginning Balance	1,045,000
Warrants, Outstanding, Ending Balance	1,045,000	1,045,000
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 2.13
Weighted Average Exercise Price, Outstanding, Ending Balance	$ 2.13	$ 2.13
Weighted-Average Remaining Contractual Term (Years), Outstanding	8 months 1 day	1 year 8 months 1 day

Capital Stock - Schedule of Cha

Capital Stock - Schedule of Changes in Fair Value Assumptions (Details) - $ / shares	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Monte-Carlo Simulation valuation model | Option awards with performance conditions
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average risk-free interest rate	0.00%	1.26%
Weighted-average volatility	0.00%	70.26%
Weighted average fair value		$ 1.22
Black-Scholes option valuation model | Option awards without performance conditions
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average risk-free interest rate	2.54%	1.26%
Weighted-average volatility	67.16%	70.26%
Expected dividends	$ 0	$ 0
Weighted average expected term (years)	5 years	5 years
Weighted average fair value	$ 0.78	$ 1.23

Capital Stock - Summary of Opti

Capital Stock - Summary of Option Activity Under Stock Incentive and Compensation Plan (Details) - $ / shares	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Shares [Abstract]
Options, Granted	523,995
Stock Options
Shares [Abstract]
Options, Outstanding, Beginning balance	1,045,000
Options, Granted	523,995
Options, Outstanding, Ending balance	1,568,995	1,045,000
Options, Exercisable at June 30, 2018	1,011,666
Weighted-Average Exercise Price [Abstract]
Weighted Average Exercise Price, Options, Outstanding, Beginning balance	$ 1.54
Weighted Average Exercise Price, Options, Granted	1.37
Weighted Average Exercise Price, Options, Outstanding, Ending balance	1.50	$ 1.54
Weighted Average Exercise Price, Options, Exercisable at June 30, 2018	$ 1.54
Weighted Average Remaining Contractual Term, Options Outstanding	2 years 10 months 9 days	3 years 7 days
Weighted Average Remaining Contractual Term, Options, Exercisable at June 30, 2018	1 year 11 months 12 days

Capital Stock - Summary of Stat

Capital Stock - Summary of Status of Non-Vested Shares (Details)	12 Months Ended
	Jun. 30, 2018$ / sharesshares
Shares [Abstract]
Nonvested Options, Beginning balance | shares	33,334
Nonvested Options, Granted | shares	523,995
Nonvested Options, Ending balance | shares	557,329
Weighted-Average Grant-Date Fair Value [Abstract]
Nonvested Options, Beginning balance | $ / shares	$ 1.23
Nonvested Options, Granted | $ / shares	0.78
Nonvested Options, Ending balance | $ / shares	$ 0.79

Mineral Properties - Capitalize

Mineral Properties - Capitalized Acquisition Costs on Mineral Properties (Details) - USD ($)	Jun. 30, 2018	Jun. 30, 2017
Mineral Properties [Line Items]
Mineral properties, net	$ 48,860,386	$ 46,460,386
Sleeper Gold Project
Mineral Properties [Line Items]
Mineral properties, net	25,674,658	25,674,658
Grassy Mountain Project
Mineral Properties [Line Items]
Mineral properties, net	$ 23,185,728	$ 20,785,728

Mineral Properties - Additional

Mineral Properties - Additional Information (Details)	9 Months Ended	12 Months Ended
	Mar. 31, 2018	Jun. 30, 2018USD ($)aMiningClaim	Jun. 30, 2017USD ($)
Mineral Properties [Line Items]
Total payment to acquire all rights to the private land | $		$ 2,400,000
Gain on sale of non-core mining claims | $			$ 100,000
Sleeper Gold Project | Nevada
Mineral Properties [Line Items]
Unpatented mining claims		2,322
Area covered by lode mining claims | a		38,300
Grassy Mountain Project | Oregon
Mineral Properties [Line Items]
Unpatented lode mining claims		418
Patented lode mining claims		3
Mill site mining claims		9
Association placer claims		6
Area covered by mining claims | a		9,300
Percentage of Net Smelter Royalty	6.00%	1.50%
Total payment to acquire all rights to the private land | $		$ 2,400,000

Reclamation and Environmental -

Reclamation and Environmental - Additional Information (Details)	12 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)
Site Contingency [Line Items]
Commutation account	$ 1,769,501		$ 2,086,562
Asset retirement obligation	1,072,551	$ 1,402,039	1,261,034
Asset retirement obligation, current	101,593		216,101
Asset retirement obligation, noncurrent	970,958		1,044,933
Sleeper Gold Project
Site Contingency [Line Items]
Maximum reclamation costs covered by insurance policy	25,000,000
Commutation account	1,769,501		$ 2,086,562
Undiscounted estimate of reclamation costs	$ 3,835,050
Inflation rate	2.00%	2.00%
Sleeper Gold Project | Measurement Input Risk Free Interest Rate
Site Contingency [Line Items]
Credit adjusted risk free rate	9.76	9.76

Reclamation and Environmental48

Reclamation and Environmental - Changes to Asset Retirement Obligation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Asset Retirement Obligation Disclosure [Abstract]
Balance at beginning of year	$ 1,261,034	$ 1,402,039
Accretion expense	150,736	137,288
Payments	(339,219)	(278,293)
Balance at end of year	$ 1,072,551	$ 1,261,034

Other Income - Other Income Det

Other Income - Other Income Details (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Other Income [Abstract]
Re-imbursement of reclamation costs	$ 339,219	$ 275,365
Leasing of water rights to third party	5,413	5,306
Total	$ 344,632	$ 280,671

Segmented Information - Schedul

Segmented Information - Schedule of Expenses and Mineral Property Carrying Values by Material Project (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Land Holding Costs	$ 519,582	$ 635,931
Mineral properties, net	48,860,386	46,460,386
Exploration Expenses
Segment Reporting Information [Line Items]
Exploration Expenses	4,222,612	5,373,699
Sleeper Gold Project
Segment Reporting Information [Line Items]
Land Holding Costs	409,837	423,876
Mineral properties, net	25,674,658	25,674,658
Sleeper Gold Project | Exploration Expenses
Segment Reporting Information [Line Items]
Exploration Expenses	761,296	557,631
Grassy Mountain Project
Segment Reporting Information [Line Items]
Land Holding Costs	109,745	212,055
Mineral properties, net	23,185,728	20,785,728
Grassy Mountain Project | Exploration Expenses
Segment Reporting Information [Line Items]
Exploration Expenses	$ 3,461,316	$ 4,816,068

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Operating Loss Carryforwards [Line Items]
Income tax examination year	2010 2011 2012 2013 2014 2015 2016 2017
United States
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards	$ 38,295,657	$ 33,896,156
United States | Minimum
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards expiration date	2,029
United States | Maximum
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards expiration date	2,037

Schedule of Company's Deferred

Schedule of Company's Deferred Tax Asset (Liability) (Details) - United States - USD ($)	Jun. 30, 2018	Jun. 30, 2017
Operating Loss Carryforwards [Line Items]
Mineral properties	$ 166,476	$ (248,008)
Asset retirement obligation	225,236	428,572
Stock options	264,898	404,628
Net operating losses	8,042,088	9,826,149
Gross deferred tax assets	8,698,698	10,411,341
Valuation allowance	$ (8,698,698)	$ (10,411,341)

Schedule of Income Tax Recovery

Schedule of Income Tax Recovery Differs from Amounts Computed by Applying Statutory Tax to Pre-tax Losses (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income (Loss) before taxes	$ (6,068,154)	$ (7,555,020)
US Statutory tax rate	21.00%	34.00%
Expected income tax (recovery)	$ (1,274,312)	$ (2,568,707)
Non-deductible items	78	171
Change in estimates	(1,609,037)	(1,866,223)
Change in tax rates	4,596,096
Change in valuation allowance	$ (1,712,825)	1,219,341
Total income taxes (recovery)		(3,215,418)
Deferred tax expense (recovery)		$ (3,215,418)

Summary of Unaudited Quarterly

Summary of Unaudited Quarterly Results of Operations (Details) - USD ($)	3 Months Ended								12 Months Ended
	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2018	Jun. 30, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 236,824	$ 22,260		$ 85,548	$ (2,928)	$ 237,694	$ 40,599	$ 5,306	$ 344,632	$ 280,671
Net loss before other items	1,513,405	1,665,511	$ 1,821,217	1,084,587	3,052,147	1,527,443	1,867,372	1,265,014	6,084,720	7,711,976
Net loss (income)	$ 1,507,797	$ 1,658,748	$ 1,818,890	$ 1,082,719	$ 3,043,744	$ 1,424,462	$ 1,824,892	$ (1,953,496)	$ 6,068,154	$ 4,339,602
Net loss (income) per Common Share
Basic	$ 0.07	$ 0.07	$ 0.08	$ 0.06	$ 0.19	$ 0.09	$ 0.12	$ (0.13)	$ 0.28	$ 0.27
Diluted	$ 0.07	$ 0.07	$ 0.08	$ 0.06	$ 0.19	$ 0.09	$ 0.12	$ (0.13)	$ 0.28	$ 0.27

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Aggregate Minimum Rentals Payable for Operating Lease (Details)	Jun. 30, 2018USD ($)
Commitments And Contingencies Disclosure [Abstract]
2,019	$ 10,152
2,020	10,364
2,021	$ 10,575

Commitments and Contingencies56

Commitments and Contingencies - Additional Information (Details)	12 Months Ended
	Jun. 30, 2018USD ($)
Commitments And Contingencies Disclosure [Abstract]
Net rental expense	$ 32,542

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	Jul. 01, 2018	Feb. 14, 2017	Jun. 30, 2018
Subsequent Event [Line Items]
Number of units issued (in shares)		2,090,000
Number of units issued, per unit ($ per shares)		$ 1.75
Proceeds from issuance of common stock and warrants		$ 3,657,500
Class of warrant description			Each warrant will have a two-year term and is exercisable at the following exercise prices: in the first year at $2.00 per share or in the second year at $2.25 per share.
Measurement Input Expected Term
Subsequent Event [Line Items]
Expected term of warrant		2 years
Exercisable in First Year
Subsequent Event [Line Items]
Exercise price of warrants		$ 2
Exercisable in Second Year
Subsequent Event [Line Items]
Exercise price of warrants		$ 2.25
Subsequent Event
Subsequent Event [Line Items]
Number of units issued (in shares)	2,400,000
Number of units issued, per unit ($ per shares)	$ 1.25
Proceeds from issuance of common stock and warrants	$ 3,000,000
Class of warrant description	Each unit consists of one share of common stock and one warrant to purchase one-half of a share of common stock.
Subsequent Event | Measurement Input Expected Term
Subsequent Event [Line Items]
Expected term of warrant	2 years
Subsequent Event | Exercisable in First Year
Subsequent Event [Line Items]
Exercise price of warrants	$ 1.30
Subsequent Event | Exercisable in Second Year
Subsequent Event [Line Items]
Exercise price of warrants	$ 1.50