Pershing Gold Extends High-Grade Gold Mineralization

LAKEWOOD, CO – Pershing Gold Corporation reported additional results for its 2015 drilling program at the Relief Canyon project in Pershing County, Nevada.

"The 2015 drilling program is seeking to expand the high-grade area of mineralization identified in the North Target Area during the 2014-early 2015 drilling program, which resulted in the dramatic upgrade in the quality of the resource estimate completed in June of this year," stated Stephen D. Alfers, Pershing Gold’s Chairman and CEO. "Along with growing the North Target Area, the 2015 drilling program is focused on expanding the size of the resource estimate through drilling targets in the Jasperoid Target Area and the Southwest Target Area, which are not included in the Company’s current resource estimate," Alfers explained. "The Company’s analysis indicates that portions of the deposit in these areas will be included in the expanded resource estimate planned for the conclusion of the 2015 drilling program," commented Alfers.

At the North Target Area drilling results include drill hole RC15-306A with an intercept of 92 feet (28 meters) of 5.030 grams per tonne ("gpt"), 0.147 ounces per ton ("oz/ton") gold ("Au") including 47 feet (14.3 meters) of 9.016 gpt, 0.263 oz/ton in the North Target Area of the Relief Canyon deposit. This intercept includes 21 feet (6.4 meters) of higher-grade gold with 12.745 gpt, 0.372 oz/ton Au.

The mineralization also includes high-grade silver with an intercept of 65 feet (20 meters) of 123.513 gpt, 3.607 oz/ton silver. This is the highest-grade silver intercept to date at Relief Canyon. Company data suggests a slight increase in silver mineralization in the deeper areas of the Relief Canyon deposit, which may result in more silver by-product in the later years of the mine life.

Other notable intercepts in the North Target Area include RC15-304A with 115 feet (35.05 meters) of 2.193 gpt, 0.064 oz/ton. Both RC15-304A and 306A are holes in which the initial drilling (RC15-304, and RC15-306) was terminated above the mineral zones in the northern part of the North Target; these holes were then re-drilled to encounter significant intercepts .

Drill holes RC15-304A and RC15-306A both extend the higher-grade mineralization down dip through the Jasperoid Zone in the North Target Area and improve the grades in the modeled mineralization. These high-grade zones, or chutes, appear to be developed along a northwest trend within the tabular Jasperoid Zone. Multiple, sub-parallel, high-grade chutes appear to be present in both the Lower and Jasperoid Zones of the North Target Area. Additional drilling will focus on adding and improving the grade of these mineral zones.

Other significant holes include RC15-318 with 29 feet (10 meters) of 1.333 gpt or 0.039 oz/ton Au from 59 to 88 feet in the Jasperoid Target Area. This intercept and others previously announced are the up-dip equivalent of the high-grade intercepts in RC15-304A and RC15-306A.

The Southwest Target Area was discovered by the Company while following the known resource down plunge, encountering a favorable structural offset that improved the grade and thickness of mineralization while also bringing it much closer to the surface. Along with the Jasperoid Target Area, drilling from the Southwest Target Area is not included in the currently published resource estimate on Relief Canyon.