派拉蒙黄金内华达公司美股招股说明书(2025-11-20版)

PROSPECTUS SUPPLEMENT (To Prospectus Supplements dated March22, 2024 and May16, 2024 and Prospectus dated March22, 2024) This prospectus supplement amends and supplements the information in the prospectus supplements, dated March22, 2024 and May16, 2024 (the“Prior Prospectus Supplements”), filed with the Securities and Exchange Commission as a part of our registration statement on FormS-3(FileNo.333-275376),relating to the offer and sale of up to $7,000,000 of shares of our common stock, $0.01 par value per share, pursuant to the ControlledEquity OfferingSMSales Agreement (the “Sales Agreement”), dated March8, 2024, we previously entered into with Cantor Fitzgerald& Co. andA.G.P./Alliance Global Partners (each an “Agent” and together, the “Agents”). This prospectus supplement is registering the offer and sale of up to$14,900,000 of shares of our common stock from and after the date hereof in addition to any shares of our common stock sold under the PriorProspectus Supplements. This prospectus supplement should be read in conjunction with the Prior Prospectus Supplements and accompanying The Prior Prospectus Supplements indicated that we were, at that time, subject to General Instruction I.B.6 of FormS-3,which limited the amount thatwe were able to sell under the registration statement of which the prospectus forms a part. We are currently no longer subject to the offering limits As of the date of this prospectus supplement, we have previously sold $5.9million of shares of common stock registered pursuant to the PriorProspectus Supplements. Our common stock is listed on the NYSE American under the symbol “PZG.” On November 19, 2025, the closing sale price of our common stock was$1.22 per share. Investing in our common stock involves risks. See the “Risk Factors” on pageS-7of the Prior Prospectus Supplementsand under similar headings in other documents that are incorporated by reference into this prospectus supplement andthe Prior Prospectus Supplements for a discussion of the factors you should consider before making a decision to invest Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities ordetermined if this prospectus supplement or the Prior Prospectus Supplements and accompanying prospectus is truthful or complete. Anyrepresentation to the contrary is a criminal offense. Cantor A.G.P. The date of this prospectus supplement is November 20, 2025.