Paramount Gold Nevada (PZG) 10-K 16 Sep 19 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2019	Sep. 12, 2019	Dec. 31, 2018
Cover [Abstract]
Entity Registrant Name	Paramount Gold Nevada Corp.
Entity Central Index Key	0001629210
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Trading Symbol	PZG
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Voluntary Filers	No
Entity Shell Company	false
Entity File Number	001-36908
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSEAMER
Entity Tax Identification Number	98-0138393
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	665 Anderson Street
Entity Address, City or Town	Winnemucca
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89445
City Area Code	775
Local Phone Number	625-3600
Document Annual Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		27,616,745
Entity Public Float			$ 14,800,948

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Current Assets
Cash and cash equivalents	$ 463,690	$ 297,389
Prepaid and deposits	348,771	244,125
Other assets		16,292
Total Current Assets	812,461	557,806
Non-Current Assets
Mineral properties (Note 6)	47,055,132	48,860,386
Property and equipment	6,303	8,927
Reclamation bond (Note 7)	1,401,833	1,769,501
Total Non-Current Assets	48,463,268	50,638,814
Total Assets	49,275,729	51,196,620
Current Liabilities
Accounts payable and accrued liabilities	980,310	927,962
Reclamation and environmental obligation, current portion (Note 7)	97,287	101,593
Total Current Liabilities	1,077,597	1,029,555
Non-Current Liabilities
Reclamation and environmental obligation, non-current portion (Note 7)	868,390	970,958
Total Liabilities	1,945,987	2,000,513
Stockholders' Equity
Common stock, par value $0.01, 50,000,000 authorized shares, 26,519,954 issued and outstanding at June 30, 2019 and 23,074,954 issued and outstanding at June 30, 2018 (Note 5)	265,200	230,750
Additional paid in capital	94,764,730	90,695,497
Deficit	(47,700,188)	(41,730,140)
Total Stockholders' Equity	47,329,742	49,196,107
Total Liabilities and Stockholders' Equity	$ 49,275,729	$ 51,196,620

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2019	Jun. 30, 2018
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	26,519,954	23,074,954
Common stock, shares outstanding	26,519,954	23,074,954

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Revenue
Other income (Note 8)	$ 400,388	$ 344,632
Total Revenue	400,388	344,632
Expenses
Exploration (Note 9)	3,558,663	4,222,612
Land holding costs (Note 9)	610,018	519,582
Professional fees	186,852	113,783
Salaries and benefits	929,179	657,070
Directors compensation	153,033	120,123
General and administrative	651,538	523,890
Insurance	130,720	117,824
Depreciation	2,624	3,732
Accretion (Note 7)	165,505	150,736
Total Expenses	6,388,132	6,429,352
Net Loss before other items	5,987,744	6,084,720
Other items
Interest income	(27,177)	(22,176)
Interest and service charges	9,481	5,610
Net Loss before Income Taxes	5,970,048	6,068,154
Net Loss and Comprehensive Loss	$ 5,970,048	$ 6,068,154
Loss per Common share
Basic	$ 0.23	$ 0.28
Diluted	$ 0.23	$ 0.28
Weighted Average Number of Common Shares Used in Per Share Calculations
Basic	25,855,541	21,566,242
Diluted	25,855,541	21,566,242

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-In Capital	Deficit
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
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
Stock based compensation	$ 231,527		231,527
Capital issued for financing	2,911,286	$ 24,000	2,887,286
Capital issued for financing (in shares)		2,400,000
Capital issued for warrant exercise	960,870	$ 10,450	950,420
Capital issued for warrant exercise (in shares)		1,045,000
Net loss	(5,970,048)			(5,970,048)
Balance at Jun. 30, 2019	$ 47,329,742	$ 265,200	$ 94,764,730	$ (47,700,188)
Balance (in shares) at Jun. 30, 2019	26,519,954	26,519,954

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Statement Of Cash Flows [Abstract]
Net Loss	$ (5,970,048)	$ (6,068,154)
Adjustment for:
Depreciation	2,624	3,732
Stock based compensation	231,527	71,335
Accretion expense (Note 7)	165,505	150,736
Interest earned on reclamation bond	(27,117)	(22,158)
(Increase) decrease in accounts receivable		15,804
(Increase) decrease in other assets	16,292	(16,292)
(Increase) decrease in prepaid expenses	(104,646)	(30,517)
Increase (decrease) in accounts payable and accrued liabilities	52,348	54,835
Cash used in operating activities	(5,633,515)	(5,840,679)
Purchase of mineral properties		(2,400,000)
Sale of royalty on mineral property (Note 6)	1,927,660
Cash provided by (used in) investing activities	1,927,660	(2,400,000)
Capital issued for financing (Note 5)	2,911,286	6,626,898
Capital issued for warrant exercise (Note 5)	960,870
Cash provided by financing activities	3,872,156	6,626,898
Change in cash during year	166,301	(1,613,781)
Cash at beginning of year	297,389	1,911,170
Cash at end of year	$ 463,690	$ 297,389

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2019
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”) and are presented in US dollars. 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. Foreign Currency Translation and Transactions The Company’s functional and reporting currency is the United States dollar. Foreign denominated monetary assets and liabilities are translated into their U.S. dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Revenues and expenses are translated at average rates of exchange during the period. Related translation adjustments as well as gains or losses resulting from foreign currency transactions are reported as part of operating expenses on the statement of operations. 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 reclamation and environmental obligation, share based compensation, warrant valuation, 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. The Company maintains cash in accounts which may, at times, exceed federally insured limits. At June 30, 2019, there were no balances that were in excess of federally insured limits. The Company deposits its cash with financial institutions which it believes 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. Net proceeds from the sale of royalties are deducted from the carrying value of the 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 Long-Lived Assets In accordance with ASC 360, “Property, Plant, and Equipment”, the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount exceeds fair value. Reclamation and Environmental Obligation 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 7. 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, 2019 and 2018, 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 The Company adopted Accounting Standards Code Topic 606, “Revenue from Contracts with Customers” (“Topic 606”) with a date of initial application of July 1, 2018. As a result of this adoption, the Company has changed its accounting policy for revenue recognition. Revenue is measured based on the amount of consideration that is expected to be received by the Company for providing goods or services under a contract with a customer, which is initially estimated with pricing specified in the contract and adjusted primarily for sales returns, discounts and other credits at contract inception then updated each reporting period. The Company recognizes revenue when persuasive evidence of a contract with a customer exists and a performance obligation is identified and satisfied as the customer obtains control of the goods or services. Revenue is recognized net of any taxes collected from customers and subsequently remitted to governmental authorities. When the Company performs shipping and handling activities after the customer obtains control of the goods, the Company accounts for the costs as fulfillment costs which are included in cost of revenues, as allowed under Topic 606. 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, 2019
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Guidance	Note 2. Recent Accounting Guidance In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments”. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. These amendments provide cash flow statement classification guidance for: 1. Debt Prepayment or Debt Extinguishment Costs; 2. Settlement of Zero-Coupon Debt Instruments or Other Debt Instruments with Coupon Interest Rates That Are Insignificant in Relation to the Effective Interest Rate of the Borrowing; 3. Contingent Consideration Payments Made after a Business Combination; 4. Proceeds from the Settlement of Insurance Claims; 5. Proceeds from the Settlement of Corporate-Owned Life Insurance Policies, including Bank-Owned Life Insurance Policies; 6. Distributions Received from Equity Method Investees; 7. Beneficial Interests in Securitization Transactions; and 8. Separately Identifiable Cash Flows and Application of the Predominance Principle. The Company’s adoption of this guidance on July 1, 2018 did not have a material impact on the Company’s related disclosures. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments─Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities to improve the recognition and measurement of financial instruments the new guidance makes targeted improvements to existing U.S. GAAP by: • Requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; • Requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; • Requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; • Eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities; • Eliminating the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and • Requiring a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The new guidance is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company’s adoption of this guidance on July 1, 2018, did not have a material impact on the Company’s consolidated results of operations, financial position and related disclosures. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017, and interim periods within that reporting period. These amendments clarify the definition of a business. The amendments affect all companies and other reporting organizations that must determine whether they have acquired or sold a business. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments are intended to help companies and other organizations evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. These changes were adopted for the Company’s fiscal year beginning July 1, 2018 and did not have a material impact on the Company’s consolidated financial position, results of operations, and cash flows. In February 2017, the FASB issued ASU No. 2017-05, Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets. ASU 2017-05 is effective for fiscal years beginning after December 15, 2017, and interim periods within that reporting period. The amendments clarify that a financial asset is within the scope of Subtopic 610-20 if it meets the definition of an in substance nonfinancial asset. The amendments also define the term in substance nonfinancial asset. The amendments clarify that nonfinancial assets within the scope of Subtopic 610- 20 may include nonfinancial assets transferred within a legal entity to a counterparty. For example, a parent may transfer control of nonfinancial assets by transferring ownership interests in a consolidated subsidiary. A contract that includes the transfer of ownership interests in one or more consolidated subsidiaries is within the scope of Subtopic 610-20 if substantially all of the fair value of the assets that are promised to the counterparty in a contract is concentrated in nonfinancial assets. The amendments clarify that an entity should identify each distinct nonfinancial asset or in substance nonfinancial asset promised to a counterparty and derecognize each asset when a counterparty obtains control of it. The Company’s adoption of this guidance on July 2018, did not have a material impact on the Company’s consolidated results of operations, financial position and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases. The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record an ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. These changes will be effective for the Company's fiscal year beginning July 1, 2019. The Company is currently evaluating the potential impact of implementing these changes In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses. The changes will be effective for the Company’s fiscal year beginning July 1, 2020. Among other things, these amendments require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The Company is currently evaluating the potential impact. The Company is currently evaluating the potential impact of implementing these changes on the Company's consolidated financial position, results of operations, and cash flows. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement. These changes will be effective for the Company’s fiscal year beginning July 1, 2020. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted. The Company is currently evaluating the potential impact of implementing these changes on the Company's consolidated financial position, results of operations, and cash flows.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 3. 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, 2019 June 30, 2018 Assets Total Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 463,690 463,690 — — $ 297,389 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, 2019
Nonmonetary Transactions [Abstract]
Non-Cash Transactions	Note 4. Non-Cash Transactions During the years ended June 30, 2019 and 2018, the Company did not enter into any non-cash activities.

Capital Stock

Capital Stock	12 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Capital Stock	Note 5. Capital Stock Authorized Capital Authorized capital stock consists of 50,000,000 common shares with par value of $0.01 per common share (2018- 50,000,000 common shares with par value $0.01 per common share). During the year-ended June 30, 2019, the Company issued 2,400,000 units at $1.25 per unit for aggregate proceeds of $3 million. Share issuance costs were $0.09 million for net proceeds of $2.91 million. 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. Also during the year ended June 30, 2019, the Company issued 1,045,000 shares from the exercising of warrants for gross proceeds of $0.96 million. 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 $6.6 million. At June 30, 2019 there were 26,519,954 common shares issued and outstanding (June 30, 2018 - 23,074,954 common shares). Warrants A summary of warrant exercisable into common stock as of June 30, 2019, and changes during year ended is presented below: Warrants Weighted Average Exercise Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic ($) Outstanding at July 1, 2018 1,045,000 $ 2.13 1.67 — Issued 1,200,000 1.40 1.03 — Exercised (1,045,000) 0.93 — — Outstanding at June 30, 2019 1,200,000 $ 1.40 1.03 — During the year-ended June 30, 2019, the Company repriced 1,045,000 warrants that were issued and outstanding with an exercise price of $2.25 to an exercise price of $0.93. As a result, 1,045,000 warrants were exercised during the year-ended June 30, 2019. 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. In December 2018, the Company’s stockholders approved an increase of 0.6 million stock options and stock available to be granted to its employees under the 2016 Stock Incentive and Compensation Plan. 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. There were no options granted during the fiscal years ended June 30, 2019 and 2018 with market conditions. 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. 2019 2018 Weighted average risk-free interest rate 0.00 % 2.54 % Weighted-average volatility 0.00 % 67.16 % Expected dividends 0.00 0.00 Weighted average expected term (years) — 5 Weighted average fair value $ — $ 0.78 A summary of option activity under the Stock Incentive and Compensation Plan as of June 30, 2019, 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, 2018 1,568,995 $ 1.50 2.86 Granted — — Exercised — — Forfeited or expired — — Outstanding at June 30, 2019 1,568,995 $ 1.50 1.94 $ — Exercisable at June 30, 2019 1,228,335 $ 1.50 1.52 $ — A summary of the status of Paramount’s non-vested shares as of June 30, 2019 and changes during the year ended June 30, 2019 is presented below. Non-vested Options Shares Weighted- Average Value Nonvested at July 1, 2018 557,329 $ 0.79 Granted — — Vested 216,669 0.93 Forfeited — — Nonvested at June 30, 2019 340,660 $ 1.47 As of June 30, 2019 and 2018, there was $108,003 and $330,071 respectively of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the employee share option plan. That cost is expected to be recognized over a weighted-average period of 1.28 years. The total fair value of shares vested during the years ended June 30, 2019 and 2018, was $202,121 and $nil, respectively.

Mineral Properties

Mineral Properties	12 Months Ended
	Jun. 30, 2019
Mineral Industries Disclosures [Abstract]
Mineral Properties	Note 6. Mineral Properties The Company has capitalized acquisition costs on mineral properties as follows: June 30, 2019 June 30, 2018 Sleeper $ 23,869,404 $ 25,674,658 Grassy Mountain 23,185,728 23,185,728 $ 47,055,132 $ 48,860,386 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. During the year-ended June 30, 2019, the Company sold to Franco Nevada U.S. Corporation (“Franco”) a two percent (2%) net smelter return royalty on minerals produced from its Sleeper Gold property for gross cash proceeds of $2,000,000. Net proceeds of the transaction of $1,927,659 decreased the carrying value of the Sleeper property. This decrease was offset by the change in reclamation and environmental obligation of $122,406 (Note 7). 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 442 federal mining claims, 3 patented lode 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. .

Reclamation and Environmental O

Reclamation and Environmental Obligation	12 Months Ended
	Jun. 30, 2019
Environmental Remediation Obligations [Abstract]
Reclamation and Environmental Obligation	Note 7. Reclamation and Environmental Obligation: 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 and reclamation bonds at June 30, 2019 is $1,401,833 (June 30, 2018 - $1,769,501). 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 $3,977,751 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, 2019 for the Sleeper Gold Project included a credit adjusted risk free rate and inflation rate of 9.76% (2018 – 9.76%) and 1.6% (2018 – 2.0%), respectively. Expenses are expected to be incurred between the years 2019 and 2056. Changes to the Company’s reclamation and environmental obligation for the year ended June 30, 2019 are as follows: June 30, 2019 June 30, 2018 Balance at beginning of year $ 1,072,551 $ 1,261,034 Accretion expense 165,505 150,736 Payments (394,785 ) (339,219 ) Change in estimate of existing obligation 122,406 — Balance at end of year $ 965,677 $ 1,072,551 The balance of the reclamation and environmental obligation of $965,677 (2018 - $1,072,551) is comprised of a current portion of $97,287 (2018 - $101,593) and a non-current portion of $868,390 (2018 - $970,958).

Other Income

Other Income	12 Months Ended
	Jun. 30, 2019
Other Income [Abstract]
Other Income	Note 8. Other Income The Company’s other income details were as follows: Year Ended Year Ended 2019 2018 Re-imbursement of reclamation costs $ 394,785 $ 339,219 Leasing of water rights to third party 5,520 5,413 Reimbursement of workers compensation insurance 83 — Total $ 400,388 $ 344,632

Segmented Information

Segmented Information	12 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Segmented Information	Note 9. 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, 2019: Exploration Expenses Land Holding Costs Mineral Properties As at June 30, 2019 Sleeper Gold Project $ 836,371 $ 409,931 $ 23,869,404 Grassy Mountain Project 2,722,292 200,087 23,185,728 $ 3,558,663 $ 610,018 $ 47,055,132 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

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Note 10. Income Taxes At June 30, 2019, the Company has net operating loss carry forwards of $43,150,088 (2018 - $38,238,601) expiring between the years 2020 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, 2019 and 2018 are as follows: United States 2019 2018 Mineral properties $ 390,422 $ 166,476 Asset retirement obligation 177,087 225,236 Stock options 313,519 264,898 Net operating losses 9,061,518 8,042,088 $ 9,942,546 $ 8,698,698 Valuation allowance (9,942,546 ) (8,698,698 ) 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: 2019 2018 Income (Loss) before taxes $ (5,970,048 ) $ (6,068,154 ) US Statutory tax rate 21.00 % 21.00 % Expected income tax (recovery) (1,253,710 ) (1,274,312 ) Non-deductible items 2,190 98 Change in estimates 7,671 (1,609,037 ) Other items — — Change in tax rates — 4,596,096 Change in valuation allowance 1,243,849 (1,712,825 ) Total income taxes (recovery) $ — $ — Current tax expense (recovery) — — Deferred tax expense (recovery) — — $ — $ — 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, 2019 and 2018, 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 2011 through 2019. 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, 2019
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Financial Data (Unaudited)	Note 11. 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, 2019 and 2018: 2019 Q1 Q2 Q3 Q4 Revenue $ 104,521 $ 79,269 $ 212,746 $ 3,852 Net loss before other items 1,063,362 1,443,055 1,178,809 2,302,518 Net loss 1,058,893 1,430,323 1,173,413 2,307,419 Net loss per Common Share Basic $ 0.04 $ 0.06 $ 0.04 $ 0.09 Diluted $ 0.04 $ 0.06 $ 0.04 $ 0.09 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 (income) 1,082,719 1,818,890 1,658,748 1,507,797 Net loss (income) per Common Share Basic $ 0.06 $ 0.08 $ 0.07 $ 0.07 Diluted $ 0.06 $ 0.08 $ 0.07 $ 0.07

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12. 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 2020 $ 10,364 2021 $ 10,575 During the year ended June 30, 2019, $56,095 was recognized as rent expense in the consolidated statements of operations and comprehensive loss. Other Commitments During the year ended June 30, 2019, Paramount entered into an agreement to acquire 44 mining claims (“Cryla Claims”) covering 589 acres located immediately to the west of the proposed Grassy Mountain site from Cryla LLC. Paramount will make annual lease payments of $40,000 per year the first two years of the lease term and $60,000 per year thereafter with an option to purchase the Cryla Claims for $560,000 at any time. The term of the agreement is 25 years. In the event Paramount exercises its option to acquire the Cryla Claims, all annual payments shall be credited against a production royalty that will be based a prevailing price of the metals produced from the Cryla Claims. The royalty rate ranges between 2% and 4% based on the daily price of gold. The agreement with Cryla can be terminated by Paramount at any time. Paramount made the annual lease payment of $40,000 as required by the agreement during the year ended June 30, 2019. The Cryla Claims are without known mineral reserves and there is no current exploratory work being performed. During the year ended June 30, 2019, Paramount entered into an agreement with Nevada Select Royalty (“Nevada Select”) to purchase 100% in the Frost Project, which consists of 40 mining claims located approximately 12 miles west of its Grassy Mountain Project. A total consideration of $250,000 payable to Nevada Select will be based on certain events over time. Upon signing the agreement, Paramount made a payment of $10,000 to Nevada Select. Nevada Select will retain a 2% NSR on the Frost Claims and Paramount has the right to reduce the NSR to 1% for a payment of $1 million. The Frost Claims are without known mineral reserves.

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 13. Subsequent Events Subsequent to June 30, 2019, the Company issued 1,096,791 shares at $0.78 to Ausenco in exchange for services to complete a feasibility study at its Grassy Mountain Project. The shares will be held in escrow until Ausenco delivers a feasibility study to the Company. Subsequent to June 30, 2019, the Company entered into definitive agreements with accredited investors to issue convertible notes in a private transaction (the “Transaction”). Under the terms of the Transaction, Paramount has agreed to sell an aggregate of 5,478 notes at $975 per $1000 face amount with a four year maturity for aggregate proceeds of $5.34 million. Each convertible note will bear interest rate of 7.5% per annum, payable semi-annually. The principle amount of the convertible notes will be convertible at a price of $1.00 per share of Paramount common stock

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2019
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”) and are presented in US dollars. 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.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions The Company’s functional and reporting currency is the United States dollar. Foreign denominated monetary assets and liabilities are translated into their U.S. dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Revenues and expenses are translated at average rates of exchange during the period. Related translation adjustments as well as gains or losses resulting from foreign currency transactions are reported as part of operating expenses on the statement of operations.
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 reclamation and environmental obligation, share based compensation, warrant valuation, 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. The Company maintains cash in accounts which may, at times, exceed federally insured limits. At June 30, 2019, there were no balances that were in excess of federally insured limits. The Company deposits its cash with financial institutions which it believes 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. Net proceeds from the sale of royalties are deducted from the carrying value of the 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
Long-Lived Assets	Long-Lived Assets In accordance with ASC 360, “Property, Plant, and Equipment”, the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount exceeds fair value.
Reclamation and Environmental Obligation	Reclamation and Environmental Obligation 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 7.
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, 2019 and 2018, 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 The Company adopted Accounting Standards Code Topic 606, “Revenue from Contracts with Customers” (“Topic 606”) with a date of initial application of July 1, 2018. As a result of this adoption, the Company has changed its accounting policy for revenue recognition. Revenue is measured based on the amount of consideration that is expected to be received by the Company for providing goods or services under a contract with a customer, which is initially estimated with pricing specified in the contract and adjusted primarily for sales returns, discounts and other credits at contract inception then updated each reporting period. The Company recognizes revenue when persuasive evidence of a contract with a customer exists and a performance obligation is identified and satisfied as the customer obtains control of the goods or services. Revenue is recognized net of any taxes collected from customers and subsequently remitted to governmental authorities. When the Company performs shipping and handling activities after the customer obtains control of the goods, the Company accounts for the costs as fulfillment costs which are included in cost of revenues, as allowed under Topic 606.
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 No. 2016-15, “Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments”. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. These amendments provide cash flow statement classification guidance for: 1. Debt Prepayment or Debt Extinguishment Costs; 2. Settlement of Zero-Coupon Debt Instruments or Other Debt Instruments with Coupon Interest Rates That Are Insignificant in Relation to the Effective Interest Rate of the Borrowing; 3. Contingent Consideration Payments Made after a Business Combination; 4. Proceeds from the Settlement of Insurance Claims; 5. Proceeds from the Settlement of Corporate-Owned Life Insurance Policies, including Bank-Owned Life Insurance Policies; 6. Distributions Received from Equity Method Investees; 7. Beneficial Interests in Securitization Transactions; and 8. Separately Identifiable Cash Flows and Application of the Predominance Principle. The Company’s adoption of this guidance on July 1, 2018 did not have a material impact on the Company’s related disclosures. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments─Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities to improve the recognition and measurement of financial instruments the new guidance makes targeted improvements to existing U.S. GAAP by: • Requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; • Requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; • Requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; • Eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities; • Eliminating the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and • Requiring a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The new guidance is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company’s adoption of this guidance on July 1, 2018, did not have a material impact on the Company’s consolidated results of operations, financial position and related disclosures. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017, and interim periods within that reporting period. These amendments clarify the definition of a business. The amendments affect all companies and other reporting organizations that must determine whether they have acquired or sold a business. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments are intended to help companies and other organizations evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. These changes were adopted for the Company’s fiscal year beginning July 1, 2018 and did not have a material impact on the Company’s consolidated financial position, results of operations, and cash flows. In February 2017, the FASB issued ASU No. 2017-05, Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets. ASU 2017-05 is effective for fiscal years beginning after December 15, 2017, and interim periods within that reporting period. The amendments clarify that a financial asset is within the scope of Subtopic 610-20 if it meets the definition of an in substance nonfinancial asset. The amendments also define the term in substance nonfinancial asset. The amendments clarify that nonfinancial assets within the scope of Subtopic 610- 20 may include nonfinancial assets transferred within a legal entity to a counterparty. For example, a parent may transfer control of nonfinancial assets by transferring ownership interests in a consolidated subsidiary. A contract that includes the transfer of ownership interests in one or more consolidated subsidiaries is within the scope of Subtopic 610-20 if substantially all of the fair value of the assets that are promised to the counterparty in a contract is concentrated in nonfinancial assets. The amendments clarify that an entity should identify each distinct nonfinancial asset or in substance nonfinancial asset promised to a counterparty and derecognize each asset when a counterparty obtains control of it. The Company’s adoption of this guidance on July 2018, did not have a material impact on the Company’s consolidated results of operations, financial position and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases. The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record an ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. These changes will be effective for the Company's fiscal year beginning July 1, 2019. The Company is currently evaluating the potential impact of implementing these changes In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses. The changes will be effective for the Company’s fiscal year beginning July 1, 2020. Among other things, these amendments require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The Company is currently evaluating the potential impact. The Company is currently evaluating the potential impact of implementing these changes on the Company's consolidated financial position, results of operations, and cash flows. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement. These changes will be effective for the Company’s fiscal year beginning July 1, 2020. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted. The Company is currently evaluating the potential impact of implementing these changes on the Company's consolidated financial position, results of operations, and cash flows.

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2019
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

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Jun. 30, 2019
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, 2019 June 30, 2018 Assets Total Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 463,690 463,690 — — $ 297,389

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, 2019, 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, 2018 1,568,995 $ 1.50 2.86 Granted — — Exercised — — Forfeited or expired — — Outstanding at June 30, 2019 1,568,995 $ 1.50 1.94 $ — Exercisable at June 30, 2019 1,228,335 $ 1.50 1.52 $ —
Summary of Status of Non-Vested Shares	A summary of the status of Paramount’s non-vested shares as of June 30, 2019 and changes during the year ended June 30, 2019 is presented below. Non-vested Options Shares Weighted- Average Value Nonvested at July 1, 2018 557,329 $ 0.79 Granted — — Vested 216,669 0.93 Forfeited — — Nonvested at June 30, 2019 340,660 $ 1.47
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. 2019 2018 Weighted average risk-free interest rate 0.00 % 2.54 % Weighted-average volatility 0.00 % 67.16 % Expected dividends 0.00 0.00 Weighted average expected term (years) — 5 Weighted average fair value $ — $ 0.78
Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Warrant Exercisable into Common Stock	A summary of warrant exercisable into common stock as of June 30, 2019, and changes during year ended is presented below: Warrants Weighted Average Exercise Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic ($) Outstanding at July 1, 2018 1,045,000 $ 2.13 1.67 — Issued 1,200,000 1.40 1.03 — Exercised (1,045,000) 0.93 — — Outstanding at June 30, 2019 1,200,000 $ 1.40 1.03 —

Mineral Properties (Tables)

Mineral Properties (Tables)	12 Months Ended
	Jun. 30, 2019
Mineral Industries Disclosures [Abstract]
Capitalized Acquisition Costs on Mineral Properties	The Company has capitalized acquisition costs on mineral properties as follows: June 30, 2019 June 30, 2018 Sleeper $ 23,869,404 $ 25,674,658 Grassy Mountain 23,185,728 23,185,728 $ 47,055,132 $ 48,860,386

Reclamation and Environmental_2

Reclamation and Environmental Obligation (Tables)	12 Months Ended
	Jun. 30, 2019
Environmental Remediation Obligations [Abstract]
Changes to Reclamation and Environmental Obligation	Changes to the Company’s reclamation and environmental obligation for the year ended June 30, 2019 are as follows: June 30, 2019 June 30, 2018 Balance at beginning of year $ 1,072,551 $ 1,261,034 Accretion expense 165,505 150,736 Payments (394,785 ) (339,219 ) Change in estimate of existing obligation 122,406 — Balance at end of year $ 965,677 $ 1,072,551

Other Income (Tables)

Other Income (Tables)	12 Months Ended
	Jun. 30, 2019
Other Income [Abstract]
Other Income Details	The Company’s other income details were as follows: Year Ended Year Ended 2019 2018 Re-imbursement of reclamation costs $ 394,785 $ 339,219 Leasing of water rights to third party 5,520 5,413 Reimbursement of workers compensation insurance 83 — Total $ 400,388 $ 344,632

Segmented Information (Tables)

Segmented Information (Tables)	12 Months Ended
	Jun. 30, 2019
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, 2019: Exploration Expenses Land Holding Costs Mineral Properties As at June 30, 2019 Sleeper Gold Project $ 836,371 $ 409,931 $ 23,869,404 Grassy Mountain Project 2,722,292 200,087 23,185,728 $ 3,558,663 $ 610,018 $ 47,055,132 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

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2019
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, 2019 and 2018 are as follows: United States 2019 2018 Mineral properties $ 390,422 $ 166,476 Asset retirement obligation 177,087 225,236 Stock options 313,519 264,898 Net operating losses 9,061,518 8,042,088 $ 9,942,546 $ 8,698,698 Valuation allowance (9,942,546 ) (8,698,698 ) 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: 2019 2018 Income (Loss) before taxes $ (5,970,048 ) $ (6,068,154 ) US Statutory tax rate 21.00 % 21.00 % Expected income tax (recovery) (1,253,710 ) (1,274,312 ) Non-deductible items 2,190 98 Change in estimates 7,671 (1,609,037 ) Other items — — Change in tax rates — 4,596,096 Change in valuation allowance 1,243,849 (1,712,825 ) Total income taxes (recovery) $ — $ — Current tax expense (recovery) — — Deferred tax expense (recovery) — — $ — $ —

Summary of Quarterly Financia_2

Summary of Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Jun. 30, 2019
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, 2019 and 2018: 2019 Q1 Q2 Q3 Q4 Revenue $ 104,521 $ 79,269 $ 212,746 $ 3,852 Net loss before other items 1,063,362 1,443,055 1,178,809 2,302,518 Net loss 1,058,893 1,430,323 1,173,413 2,307,419 Net loss per Common Share Basic $ 0.04 $ 0.06 $ 0.04 $ 0.09 Diluted $ 0.04 $ 0.06 $ 0.04 $ 0.09 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 (income) 1,082,719 1,818,890 1,658,748 1,507,797 Net loss (income) per Common Share Basic $ 0.06 $ 0.08 $ 0.07 $ 0.07 Diluted $ 0.06 $ 0.08 $ 0.07 $ 0.07

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Jun. 30, 2019
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 2020 $ 10,364 2021 $ 10,575

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Jun. 30, 2019USD ($)
Accounting Policies [Abstract]
Concentration of credit risk uninsured cash amount	$ 0
Cash, Uninsured Amount, Description	The Company deposits its cash with financial institutions which it believes have sufficient credit quality to minimize the risk of loss

Description of Business and S_5

Description of Business and Summary of Significant Accounting Policies - Fixed Assets (Details)	12 Months Ended
	Jun. 30, 2019
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%

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets and Liabilities (Details) - Fair Value, Measurements, Recurring - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 463,690	$ 297,389
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 463,690

Non-Cash Transactions - Additio

Non-Cash Transactions - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Nonmonetary Transactions [Abstract]
Amount of non-cash activities	$ 0	$ 0

Capital Stock - Additional Info

Capital Stock - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
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
Aggregate number of units issued (in shares)		2,400,000
Aggregate number of units issued, per unit ($ per shares)		$ 1.25
Proceeds from issuance of common stock and warrants		$ 3,000,000
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 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. Also during the year ended June 30, 2019, the Company issued 1,045,000 shares from the exercising of warrants for gross proceeds of $0.96 million.
Share issuance costs		$ 90,000
Net proceeds from issuance of common stock and warrants		2,910,000
Gross proceeds from issuance of shares		$ 2,911,286	$ 6,626,898
Capital stock, shares issued		26,519,954	23,074,954
Capital stock, shares outstanding		26,519,954	23,074,954
Options, Granted		0	0
Total unrecognized compensation cost related to non-vested share based compensation		$ 108,003	$ 330,071
Expected weighted-average period of unrecognized compensation cost		1 year 3 months 10 days
Total fair values shares vested		$ 202,121	$ 0
Exercisable in First Year
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of warrants		$ 1.30
Exercisable in Second Year
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of warrants		$ 1.50
Measurement Input Expected Term
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term of warrant		2 years
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
2016 Stock Incentive and Compensation Plans
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Increase of stock options and stock available for grant to employees	600,000
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Proceeds from issuance of common stock and warrants			$ 6,600,000
Share issuance costs			$ 790,000
Number of shares issued			5,295,000
Capital stock, shares outstanding		26,519,954	23,074,954	17,779,954
Shares issued upon the exercise of warrants		1,045,000
Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of warrants		$ 2.25
Warrants, repriced		1,045,000
Weighted Average Exercise Price, Issued		$ 2.25
Weighted Average Exercise Price, Exercised		$ 0.93
Shares issued upon the exercise of warrants		1,045,000
Warrants | Warrants Reprising
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted Average Exercise Price, Exercised		$ 0.93
Shares issued upon the exercise of warrants		1,045,000
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 Exercisable into Common Stock (Details) - Warrants - $ / shares	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Class Of Warrant Or Right [Line Items]
Warrants, Outstanding, Beginning Balance	1,045,000
Warrants, Issued	1,200,000
Warrants, Exercised	(1,045,000)
Warrants, Outstanding, Ending Balance	1,200,000	1,045,000
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 2.13
Weighted Average Exercise Price, Issued	1.40
Weighted Average Exercise Price, Exercised	0.93
Weighted Average Exercise Price, Outstanding, Ending Balance	$ 1.40	$ 2.13
Weighted-Average Remaining Contractual Term (Years), Outstanding	1 year 10 days	1 year 8 months 1 day
Weighted-Average Remaining Contractual Term (Years), Issued	1 year 10 days

Capital Stock - Schedule of Cha

Capital Stock - Schedule of Changes in Fair Value Assumptions (Details) - Black-Scholes option valuation model - Option awards without performance conditions - $ / shares	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average risk-free interest rate	0.00%	2.54%
Weighted-average volatility	0.00%	67.16%
Expected dividends	$ 0	$ 0
Weighted average expected term (years)		5 years
Weighted average fair value		$ 0.78

Capital Stock - Summary of Opti

Capital Stock - Summary of Option Activity Under Stock Incentive and Compensation Plan (Details) - $ / shares	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Shares [Abstract]
Options, Granted	0	0
Stock Options
Shares [Abstract]
Options, Outstanding, Beginning balance	1,568,995
Options, Outstanding, Ending balance	1,568,995	1,568,995
Options, Exercisable at June 30, 2019	1,228,335
Weighted-Average Exercise Price [Abstract]
Weighted Average Exercise Price, Options, Outstanding, Beginning balance	$ 1.50
Weighted Average Exercise Price, Options, Outstanding, Ending balance	1.50	$ 1.50
Weighted Average Exercise Price, Options, Exercisable at June 30, 2019	$ 1.50
Weighted Average Remaining Contractual Term, Options Outstanding	1 year 11 months 8 days	2 years 10 months 9 days
Weighted Average Remaining Contractual Term, Options, Exercisable at June 30, 2019	1 year 6 months 7 days

Capital Stock - Summary of Stat

Capital Stock - Summary of Status of Non-Vested Shares (Details) - $ / shares	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Shares [Abstract]
Nonvested Options, Beginning balance	557,329
Nonvested Options, Granted	0	0
Nonvested Options, Vested	216,669
Nonvested Options, Ending balance	340,660	557,329
Weighted-Average Grant-Date Fair Value [Abstract]
Nonvested Options, Beginning balance	$ 0.79
Nonvested Options, Vested	0.93
Nonvested Options, Ending balance	$ 1.47	$ 0.79

Mineral Properties - Capitalize

Mineral Properties - Capitalized Acquisition Costs on Mineral Properties (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Mineral Properties [Line Items]
Mineral properties, net	$ 47,055,132	$ 48,860,386
Sleeper Gold Project
Mineral Properties [Line Items]
Mineral properties, net	23,869,404	25,674,658
Grassy Mountain Project
Mineral Properties [Line Items]
Mineral properties, net	$ 23,185,728	$ 23,185,728

Mineral Properties - Additional

Mineral Properties - Additional Information (Details)	9 Months Ended	12 Months Ended
	Mar. 31, 2018	Jun. 30, 2019USD ($)aMiningClaim	Jun. 30, 2018USD ($)
Mineral Properties [Line Items]
Net proceeds from sale of mineral properties		$ 1,927,660
Change in reclamation and environmental obligation		$ 122,406
Total payment to acquire all rights to the private land			$ 2,400,000
Sleeper Gold Project | Franco Nevada U.S. Corporation
Mineral Properties [Line Items]
Percentage of Net Smelter Royalty		2.00%
Cash proceeds from sale of mineral properties		$ 2,000,000
Net proceeds from sale of mineral properties		1,927,659
Change in reclamation and environmental obligation		$ 122,406
Sleeper Gold Project | Nevada
Mineral Properties [Line Items]
Unpatented mining claims | MiningClaim		2,322
Area covered by lode mining claims | a		38,300
Grassy Mountain Project | Oregon
Mineral Properties [Line Items]
Percentage of Net Smelter Royalty	6.00%		1.50%
Federal mining claims | MiningClaim		442
Patented lode mining claims | MiningClaim		3
Area covered by mining claims | a		9,300
Total payment to acquire all rights to the private land			$ 2,400,000

Reclamation and Environmental_3

Reclamation and Environmental Obligation - Additional Information (Details)	12 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)
Site Contingency [Line Items]
Commutation account and reclamation bonds	$ 1,401,833	$ 1,769,501
Reclamation and environmental obligation	965,677	1,072,551	$ 1,261,034
Reclamation and environmental obligation, current	97,287	101,593
Reclamation and environmental obligation, noncurrent	868,390	970,958
Sleeper Gold Project
Site Contingency [Line Items]
Maximum reclamation costs covered by insurance policy	25,000,000
Commutation account and reclamation bonds	1,401,833	$ 1,769,501
Undiscounted estimate of reclamation costs	$ 3,977,751
Inflation rate	1.60%	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 Environmental_4

Reclamation and Environmental Obligation - Changes to Reclamation and Environmental Obligation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Asset Retirement Obligation Disclosure [Abstract]
Balance at beginning of year	$ 1,072,551	$ 1,261,034
Accretion expense	165,505	150,736
Payments	(394,785)	(339,219)
Change in estimate of existing obligation	122,406
Balance at end of year	$ 965,677	$ 1,072,551

Other Income - Other Income Det

Other Income - Other Income Details (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Other Income [Abstract]
Re-imbursement of reclamation costs	$ 394,785	$ 339,219
Leasing of water rights to third party	5,520	5,413
Reimbursement of workers compensation insurance	83
Total	$ 400,388	$ 344,632

Segmented Information - Schedul

Segmented Information - Schedule of Expenses and Mineral Property Carrying Values by Material Project (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Exploration Expenses	$ 3,558,663	$ 4,222,612
Land Holding Costs	610,018	519,582
Mineral properties, net	47,055,132	48,860,386
Sleeper Gold Project
Segment Reporting Information [Line Items]
Exploration Expenses	836,371	761,296
Land Holding Costs	409,931	409,837
Mineral properties, net	23,869,404	25,674,658
Grassy Mountain Project
Segment Reporting Information [Line Items]
Exploration Expenses	2,722,292	3,461,316
Land Holding Costs	200,087	109,745
Mineral properties, net	$ 23,185,728	$ 23,185,728

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating Loss Carryforwards [Line Items]
Income tax examination year	2011 2012 2013 2014 2015 2016 2017 2018 2019
United States
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards	$ 43,150,088	$ 38,238,601
United States | Minimum
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards expiration date	2020
United States | Maximum
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards expiration date	2037

Schedule of Company's Deferred

Schedule of Company's Deferred Tax Asset (Liability) (Details) - United States - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Operating Loss Carryforwards [Line Items]
Mineral properties	$ 390,422	$ 166,476
Asset retirement obligation	177,087	225,236
Stock options	313,519	264,898
Net operating losses	9,061,518	8,042,088
Gross deferred tax assets	9,942,546	8,698,698
Valuation allowance	$ (9,942,546)	$ (8,698,698)

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, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income (Loss) before taxes	$ (5,970,048)	$ (6,068,154)
US Statutory tax rate	21.00%	21.00%
Expected income tax (recovery)	$ (1,253,710)	$ (1,274,312)
Non-deductible items	2,190	98
Change in estimates	7,671	(1,609,037)
Change in tax rates		4,596,096
Change in valuation allowance	$ 1,243,849	$ (1,712,825)

Summary of Unaudited Quarterly

Summary of Unaudited Quarterly Results of Operations (Details) - USD ($)	3 Months Ended								12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2019	Jun. 30, 2018
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 3,852	$ 212,746	$ 79,269	$ 104,521	$ 236,824	$ 22,260		$ 85,548	$ 400,388	$ 344,632
Net loss before other items	2,302,518	1,178,809	1,443,055	1,063,362	1,513,405	1,665,511	$ 1,821,217	1,084,587	5,987,744	6,084,720
Net loss (income)	$ 2,307,419	$ 1,173,413	$ 1,430,323	$ 1,058,893	$ 1,507,797	$ 1,658,748	$ 1,818,890	$ 1,082,719	$ 5,970,048	$ 6,068,154
Net loss (income) per Common Share
Basic	$ 0.09	$ 0.04	$ 0.06	$ 0.04	$ 0.07	$ 0.07	$ 0.08	$ 0.06	$ 0.23	$ 0.28
Diluted	$ 0.09	$ 0.04	$ 0.06	$ 0.04	$ 0.07	$ 0.07	$ 0.08	$ 0.06	$ 0.23	$ 0.28

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Aggregate Minimum Rentals Payable for Operating Lease (Details)	Jun. 30, 2019USD ($)
Operating Leased Assets [Line Items]
2020	$ 10,364
2021	$ 10,575

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Details)	12 Months Ended
	Jun. 30, 2019USD ($)aMiningClaim	Jun. 30, 2018USD ($)
Commitments And Contingencies [Line Items]
Net rental expense	$ 56,095
Annual lease payment, year one	10,364
Annual lease payment, year two	$ 10,575
Payment to reducce NSR by parent		$ 2,400,000
Grassy Mountain Project
Commitments And Contingencies [Line Items]
Number of mining fields | MiningClaim	44
Area covered by mining claims | a	589
Annual lease payment, year one	$ 40,000
Annual lease payment, year two	40,000
Annual lease payment, thereafter	60,000
Option to purchase mining claims, price	$ 560,000
Term of the agreement	25 years
Annual lease payment made	$ 40,000
Grassy Mountain Project | Minimum
Commitments And Contingencies [Line Items]
Royalty rate	2.00%
Grassy Mountain Project | Maximum
Commitments And Contingencies [Line Items]
Royalty rate	4.00%
Frost Project | Nevada
Commitments And Contingencies [Line Items]
Number of mining fields | MiningClaim	40
Percentage of mining claim rights acquired	100.00%
Total consideration payable	$ 250,000
Total consideration paid	$ 10,000
Percentage of Net Smelter Royalty	2.00%
Rate of right to reduce net smelter royalty by parent	1.00%
Payment to reducce NSR by parent	$ 1,000,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Subsequent Event	Jul. 01, 2019USD ($)ConvertibleNote$ / sharesshares
Convertible Notes
Subsequent Event [Line Items]
Number of notes agreed to sell | ConvertibleNote	5,478
Agreed sale price of note	$ 975
Convertible notes face amount	1,000
Aggregate proceeds from convertible notes	$ 5,340,000
Convertible note interest rate	7.50%
Convertible price per share | $ / shares	$ 1
Ausenco
Subsequent Event [Line Items]
Number of shares issued in exchange for services | shares	1,096,791
Shares issued price per share | $ / shares	$ 0.78