Pershing Gold Increases Gold Resource Estimate At Relief Canyon

LAKEWOOD, CO - Pershing Gold Corporation reported that it has completed an updated in-house calculation of mineralized material for the Relief Canyon Mine in Pershing County, Nevada incorporating the results from its 2013 drilling program. The updated mineralized material calculation shows 34,062,000 tons of gold mineralized material at an average grade of 0.019 ounces per ton gold, 0.651 grams per tone gold. The Company's in-house technical staff calculated the estimate under SEC Guide 7. Consistent with SEC Guide 7, this in-house calculation does not include identified mineralized material that is currently in the inferred category.

Pershing Gold also reported that Mine Development Associates (MDA) of Reno, Nevada has completed an updated gold resource estimate that includes the results from the Company's 2013 drilling program. The updated resource estimate shows a Measured and Indicated Resource of 552,000 ounces of gold and an Inferred Resource of 165,000 ounces of gold. MDA's estimate was prepared following the definitions and guidelines adopted by the Canadian Institute of Metallurgy (CIM).

"Pershing Gold's program to expand the Relief Canyon deposit is an exciting work in progress," stated Stephen D. Alfers, Pershing Gold President, CEO, and Executive Chairman. "This updated mineralized material calculation and resource estimate incorporates the results of our 2013 drilling program, which focused in an area north of the North Pit. We have successfully expanded the Relief Canyon gold deposit in this area. Because the Relief Canyon deposit is open in all directions, we are planning more drilling throughout the deposit in 2014 that we expect will further expand and upgrade the resource."