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Pershing Gold Corporation And Continental Resources Corporation Jointly Announce Continental's Record Date For Dissolution And Liquidation

LAKEWOOD, Colo., Feb. 21, 2013 (GLOBE NEWSWIRE) -- Pershing Gold Corporation (OTCQB:PGLC) ("Pershing") and Continental Resources Corporation (OTCBB:CRGC) ("Continental") today jointly announced that Continental has set March 1, 2013 as the record date for Continental's dissolution and intends to commence its liquidation shortly thereafter, including the distribution of Pershing common stock to Continental shareholders, subject to approval by FINRA. In connection with these actions, Continental also intends to discontinue reporting with the SEC prior to the due date for its 2012 Annual Report on Form 10-K. Continental's shareholders approved the dissolution in 2011, subject to the effectiveness of Pershing's registration statement which was declared effective on February 12, 2013.

This press release shall not constitute an offer to issue or sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Pershing Gold Corporation

Pershing Gold Corporation is a gold exploration and development company focusing on acquiring, exploring, and developing gold deposits in Nevada. The Relief Canyon Mine property in Pershing County is owned by Gold Acquisition Corp., the Company's wholly owned subsidiary.

Legal Notice and Safe Harbor Statement

This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar expressions, are "forward-looking statements." Although Pershing Gold Corporation's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the SEC including the Annual Report on Form 10-K for the year ended December 31, 2011 and each subsequently filed Quarterly Report on Form 10-Q and Current Report on Form 8-K. The Company assumes no obligation to update any of the information contained or referenced in this press release.

CONTACT: Stephen D. Alfers
         Executive Chairman, President and CEO
         Phone Number:  720.974.7248
         Email: investors@pershinggold.com
         www.Pershinggold.com

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