Pershing Gold Announces Expanded Mineralization at Relief Canyon from West Step Out Drilling Program

LAKEWOOD, Colo., March 19, 2018

In January 2018, Pershing Gold began a drilling program focusing on resource growth and reserve expansion of the West Step Out Area of its Relief Canyon Mine project (See Figures 1 and 2 below). Initial assay results have been received for six of the eight completed angled-core-holes and include high-grade intervals of 1.764 ounces per ton ("opt"), or 60.4 grams per tonne ("gpt"), of gold ("Au") over a width of 5.0 feet (1.52 meters) in hole RC18-503, and 0.87 opt, or 29.8 gpt, Au over a width of 3.9 feet (1.19 meters) in hole RC18-506.

Notable intercepts include:

• RC18-500: 20.5 feet (6.25 meters) at 0.05 opt Au (1.61 gpt Au)
• RC18-501: 53.7 feet (16.4 meters) at 0.04 opt Au (1.31 gpt Au)
• RC18-502:
• 33.0 feet (10.1 meters) at 0.13 opt Au (4.31 gpt Au)
• 31.9 feet (9.73 meters) at 0.03 opt Au (1.16 gpt Au)
• RC18-503: 14.0 feet (4.27 meters) at 0.64 opt Au (21.78 gpt Au)
• RC18-506:
• 18.8 feet (5.73 meters) at 0.19 opt Au (6.57 gpt Au)
• 29.4 feet (8.96 meters) at 0.08 opt (2.88 gpt Au)

Significant drill intercepts are summarized in Table 1 below.

"We are encouraged by these initial results, that include step-outs as wide as 800 feet. We believe this drilling confirms the lateral continuity of the three-stacked mineralized zones to the southwest of the existing pits at the project. We are confident that these results will expand the economic pit shell, thereby increasing the size of the resource, and may increase the average grade of the resource," stated Stephen D. Alfers, Pershing Gold's Chairman, President and CEO. "The 2018 drilling program continues to work lockstep with the Company's plans to advance Relief Canyon to commercial production. The program's stated goals of adding near-term ounces, continuing to extend mine-life and adding to the overall production profile for the project, remain the primary focus of the program," explained Alfers.

West Step Out Target Area
Overall, this program is providing a mix of infill holes to provide tighter drill density for the expressed purpose of expanding the whittle pit and converting measured and indicated resources to reserves. Previous drill holes from 2016 that were drilled after the 2016 resource update indicate the potential for further resource growth in the West Step Out Target Area.

Table 1: