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Pershing Gold Completes $11.1 Million Private Placement

About Pershing Gold Corporation

Pershing Gold Corporation owns the Relief Canyon Mine property, which includes three open-pit mines and a state-of-the-art, fully permitted and constructed heap leach processing facility. These assets present Pershing Gold with the opportunity to achieve a fast-track path to production at the Relief Canyon Mine. Pershing Gold's landholdings cover over 25,000 acres that include the Relief Canyon Mine asset and lands surrounding the mine in all directions. This land package provides Pershing Gold with the opportunity to expand the Relief Canyon Mine deposit and to explore and make new discoveries on nearby lands.

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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