Mr. Paul Parisotto reports

CALICO RECEIVES FINAL COURT APPROVAL OF BUSINESS COMBINATION WITH PARAMOUNT

Calico Resources Corp. has received final approval of the B.C. Supreme Court for its proposed business combination with Paramount Gold Nevada Corp., to be completed by way of plan of arrangement. Calico currently anticipates the closing of the arrangement to occur on or about July 7, 2016, subject to the satisfaction or waiver of all conditions precedent.

Under the terms of the arrangement, holders of Calico shares will be entitled to receive 0.07 of a share of common stock of Paramount in exchange for each Calico share held. Further details regarding the arrangement are set out in the management information circular of Calico dated May 26, 2016, which is available on SEDAR under Calico's issuer profile.

We seek Safe Harbor.