Pershing Acquires Historic Standard Mine For Its New Enterprise Project

RENO, NV – Pershing Resources Company, Inc. has acquired the historic past producing Standard Mine located within its 100% owned New Enterprise Project, 14 miles southeast of Kingman, Arizona. The Company considers the acquisition of the Standard Mine as a key component in assessing the porphyry-related mineral resource potential of the southern portion of the New Enterprise Project. Historical reports describe the Standard Mine as being active during World War I primarily for molybdenum and include a 459ft. vertical shaft with workings at the 200, 300, and 400ft. levels. A 100 ton per day mill had been installed on-site and subsequently dismantled and removed. At the 400ft. level, historical records report a 14ft. wide vein with 1% copper, 0.12 to 0.20 oz/ton gold, 8 oz/ton silver, and 1.5% molybdenum. The quartz veins are described as branching and linked, varying from a few inches to several feet wide, with strikes trending northwest and dips varying between 45 to 90 degrees to the southwest. These quartz veins are engulfed by a porphyry-style argillic and phyllic geothermal alteration system and may be indicative of quartz stockwork mineralization commonly present nearby and within porphyry-related mineral resources. The quartz stockwork-like veining within the Standard Mine and its associated porphyry-style geothermal alteration system does not appear to have been tested using modern exploration techniques. Further compilation and follow-up mapping and sampling need to be completed by Pershing to verify the historical nature and characteristics of the mineralization and to confirm whether or not there is a possible relationship to a yet to be discovered porphyry-related mineral resource.