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Pershing Gold Corp.


Pershing Gold Corp. is an emerging Nevada gold producer uniquely positioned to create shareholder value by fast-tracking the reopening of the Relief Canyon mine, which includes three open-pit mines and a state-of-the-art, fully permitted and constructed heap-leach processing facility. The company'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 land.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Comments:

The Gold Report Interview with Michael Berry (4/14/14) "I like Pershing Gold Corp., especially its management. Steve Alfers is CEO and running Pershing. It is a derisked near-term production story. It has about 700,000 oz gold Measured, Indicated and Inferred, and is building a very nice gold resource." More >

Jeff Wright, H.C. Wainwright & Co. (3/25/14) "Pershing Gold Corp.'s Relief Canyon is tailor-made for a restart. We recently completed a site visit to Relief Canyon. . .overall, we left with a favorable impression and can see a path to restarting production and expanding the size of the resource base supporting the mine. . .the infrastructure in place for a restart."

Jeff Wright, H.C. Wainwright & Co. (2/6/14) "We are initiating coverage of Pershing Gold Corp. with a Buy rating and 12-month price target of $0.70/share. We believe the pieces are in place for the company to establish itself as a viable gold producer in Nevada within the next two years."

The Gold Report Interview with Heiko Ihle (1/15/14) "I recently visited Pershing Gold Corp. in Nevada. Its mill is more or less ready to flip the switch. I spent a whole day with the management team. Although we do not have coverage, a price target or any valuation numbers on Pershing Gold, I would not be surprised to see it moving forward over the next couple of years, or quarters, for that matter." More >

Chris Berry, House Mountain Partners LLC. (10/16/13) "Right now, we're waiting for a resource estimate update from Pershing Gold Corp. and also I believe early next year we should get an idea of the economics associated with the deposit at Relief Canyon. If gold can find a bottom and we get some good news from the company, it could really set the stage for a positive 2014."

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Chris Berry, Morning Notes (9/20/13) "The success of Pershing Gold Corp. in drilling thus far should not be glossed over. In Relief Canyon, the company has a past-producing mine in a stable geopolitical jurisdiction run by a strong and experienced management team. . .and management has gone further by clearly laying out its objectives and achieving them. . .we can see clear catalysts on the horizon (a larger NI 43-101 resource, additional discovery surprises from drilling) and with a firm gold price at our backs, it would appear that Pershing is poised for future appreciation."

Peter Epstein, Seeking Alpha (8/16/13) "Pershing Gold Corp. is one of just a select few that have demonstrated ongoing access to capital; the timing of this raise, in conjunction with an exciting, highly prospective drill campaign, is noteworthy. Pershing appears to be comfortably funded for the next six to nine months."

The Gold Report Interview with Chris Berry (7/31/13) "Pershing Gold Corp. is substantially derisked relative to a number of other gold exploration and development plays. The company is consolidating a land package with a past-producing mine called Relief Canyon. It's run by Steve Alfers, who has a background as chief of U.S. operations at Franco-Nevada. He has a wealth of experience across the entire mining value chain. Relief Canyon was an open-pit mine with low operating costs. The processing facilities at Relief Canyon are fully permitted and refurbished, which lowers the capex to get to production. Relief Canyon has an NI 43-101 in-pit resource of approximately 463 Koz gold in the M&I categories and approximately 101 Koz Inferred, with additional growth potential. For those investors who take solace in a 'major' investing in a junior, one should not overlook the strategic partnership Pershing has initiated with Coeur Mining, which owns over 10M shares in the company." More >

Morning Notes (7/25/13) "Pershing Gold Corp. just announced the start of its phase 1, 2013 drilling plan at the past-producing Relief Canyon mine in Nevada. . .a successful first phase of drilling can open the door to an updated NI 43-101 resource estimate and enhance the economics of the deposit. While many mining companies have pared back their exploration plans in favor of 'keeping the lights on,' those companies that undertake exploration programs in this environment offer the greatest potential for share price upside in an otherwise moribund market. Pershing is a prime example."

Chris Berry, Morning Notes (5/30/13) "Pershing Gold Corp. issued an encouraging news release that shows the company has potential to build upon the size of its NI-43-101-compliant resource estimate at the past-producing Relief Canyon mine. The optimism stems from a previously unrecognized gold deposit discovery in the North Target zone. This new discovery area has never been drilled and is the type of potential upside investors look for. In addition, the company announced that they have confirmed gold-mineralized intercepts of significance in at least two historic drill holes that are located outside the current NI 43-101 resource. . .this demonstrates the strong potential to improve upon the already promising economics at Relief Canyon. . .in an environment of sideways to down gold prices, companies that can lower costs or increase the size of their mineable resource will tend to stand out—Perishing continues to offer this type of an opportunity."

Bob Moriarty, 321 Gold (5/28/13) "Pershing Gold Corp. CEO Steve Alfers has made a major leap forward with Relief Canyon in his land consolidation program. The company owns a mill and leach pads at Relief Canyon and has plans in place for getting back into production in 2014. Alfers has completed a drill program that increased the resources by 500%. Pershing can either go into production or sell the asset. Alfers is quite used to selling assets at a nice profit."

Markus Aarnio, Seeking Alpha (4/3/13) "Gold production in Pershing Gold Corp.'s Relief Canyon Mine will begin in 2014. . .the initial target gold production will be 50 Koz/year. . .the Relief Canyon mine is a past producing mine that already has a ready-to-operate heap leach facility along with most of the permits to begin production again in place. . .there have been recent insider buy transactions in March and throughout the past 12 months. . .insider buying in a closely held company can be a positive signal for investors."

The Gold Report Interview with Michael Berry (2/27/13) "From Vancouver, we went to visit Pershing Gold Corp. There are a lot of discoveries in the goldfields of Nevada and many more junior gold explorers are setting up operations. . . I think the company found that, aside from this being a very difficult market, you cannot be on both sides. That is why I appreciate what Steve Alfers has done over at Pershing Gold. Steve Alfers knows more of the history of Nevada gold and has done more deals in Nevada gold than anyone I know. When I first saw Relief Canyon years ago, it was a mess, checkerboarded by Newmont and others. Steve pulled it together. Pershing now has 538 Koz Measured and Indicated and close to 700 Koz Inferred. That Relief Canyon resource will only get bigger. Pershing has three pits on its property and has deals with Newmont to explore its properties.

"Pershing also owns 24% of Valor Gold Corp., which has the Red Rock property in the Battle Mountain Trend. Money is coming into that project as well—another example of optionality. Art Leger is heading up the discovery drilling on Red Rock. There is a lot of excitement there as well. There is not a lot of downside to what Steve Alfers has done with Pershing. The stock moved from $0.30/share to $0.51/share. I think it will move again. . .Steve has some great geologists and a fully permitted heap-leach plant. He also has one of the world's wealthiest investors backing him. Dr. Phil Frost, a life sciences guru, owns a significant percentage of Pershing Gold. . .right now, it trades on the OTC Pink, but I expect to see Pershing listed on the NASDAQ or the NYSE Market." More >

Peter Epstein, Seeking Alpha (2/25/13) "Pershing Gold Corp. has dramatically outperformed peers over the past three and six-month periods. . .clearly, interest is growing about what Executive Chairman and CEO Stephen Alfers and his team have accomplished. . .the company owns a fully permitted and built processing facility. This allows it to avoid four years of permitting and associated risks as well as the need to source funding of several tens of millions in capex. . .Pershing's 564 Koz of Measured, Indicated and Inferred gold are found on just 3% of the consolidated property; the existing resource is open on all sides."

Peter Epstein, Seeking Alpha (1/25/13) "I'm as excited as ever about Pershing Gold Corp. I stand by my $3 NAV estimate and I now believe that the company's stock could break through the $1 barrier within three to six months."

Michael Berry, Morning Notes (1/24/13) "In the first year operation, I would rate Pershing Gold Corp.'s wealth creation program a great success. . .the company expanded the known gold reserve by a factor of five. . .it also announced a Measured, Indicated and Inferred resource of 5.64 Koz Au. . .there is sure to be a silver resource here as well that is not yet determined. . .we believe this year's drill program will increase and improve the gold resource."

Michael Berry, Morning Notes (12/4/12) "Pershing Gold Corp. reported on its fall 2012 drilling program. The results were excellent. . .we expect Roscoe Postle, hired in October by the company, will produce an NI 43-101 very soon, possibly this quarter, which could push the current gold resource to 600–750 Koz of gold. Relief Canyon appears to be a classic Nevada gold play."

The Gold Report Interview with Michael Berry (11/21/12) "Find great management—like Steve Alfers at Pershing Gold Corp. . .Pershing Gold [is] a very interesting play. Its Relief properties sit at the bottom of the Black Ridge Fault in northern Nevada. . .it's elephant country for gold . Pershing Gold has its own fully permitted leach pad and almost new plant. It has about a 250 Koz resource. It's a really good opportunity now, one that people should be looking at. It's a cheap stock. Pershing spun off a company called Valor Gold Corp. (VGLD:OTCBB), and owns a significant position in Valor. Pershing Gold is a very early name, but it has huge potential.

Pershing Gold's chairman and CEO, Steve Alfers, ran the royalty business at Franco-Nevada Corp. He has an encyclopedic knowledge of the gold space, especially in Nevada, and has assembled a great team. I've been out to see the company's properties near Lovelock, Nevada. I think Pershing will have 700–800 Koz Indicated and Inferred gold in Q1/13, as well as an NI 43-101. Pershing Gold is definitely one to watch because it's in the right place, with the right team—and it is very cheap. Coeur d'Alene recently bought 10M shares of Pershing Gold. It's a very interesting play." More >

The Gold Report Interview with Edward Karr (8/6/12) "I'm very excited about Pershing Gold Corp. That's a Nevada exploration company moving into production shortly. I was recently in Nevada and visited its Relief Canyon mine and processing facility. I have to tell you, since leaving Franco-Nevada Corp. and taking the helm at Pershing, Steve Alfers has done a tremendous job of advancing the company. He's done a land deal with Newmont Mining Corp. and Victoria Gold Corp. that dramatically increased Pershing's land position, which is critical. The Pershing geologists can now go out and conduct their exploration programs based upon geology and not worry about prior claim boundaries.

Pershing recently closed a private placement with Coeur d'Alene Mines Corp., Pershing's neighbor to the north and the largest silver producer in the United States. The investment by Coeur into Pershing is a real game changer; it shows that Pershing can pass serious institutional due diligence. I would also imagine that we'll be seeing more deals between Pershing and Coeur in the future. In addition, Pershing recently announced what looks like a new discovery. The company drilled a target at the Pershing Packard project located near its boundary with Coeur. The press release said that the deposit showed alteration and mineralization typically observed with other producing deposits in the area. I'm really looking forward to the assay results. The real key with Pershing is its Relief Canyon Processing Facility, which is fully paid for. Add to that the recent Coeur financing and Pershing should be fully funded, in my opinion, to production. I estimate it is going to enter production toward the end of next year. . .Pershing is one of the most exciting Nevada exploration and production plays I know." More >

The Gold Report Interview with Michael Berry (6/11/12) "Nevada is a great place because it is a mining state. Utah, Nevada and Arizona are great places to find things and get permission to mine them. . .Pershing Gold Corp. [is] a new company with a new management team led by Steve Alfers, formerly one of the key managers at Franco-Nevada Corp. The company is consolidating the bottom of that trend in a land position around the Relief Canyon mine. I really like that management team. I have been out to see the property and spend time with management. I think it has a lot of potential. More than 150 Koz of historical gold has been drilled out and I think [the] company will find a lot more; plus there is a fully commissioned gold plant that is not in operation at the present time. Yes, I am bullish on Nevada. I think there is a lot of opportunity in gold, silver and copper there. Why go to Africa or China, when you can go to a place like Nevada and make great discoveries and subsequently mine?" More > Interview with Michael Berry (6/1/12) "Run by President and CEO Stephen Alfers, Pershing Gold Corp. owns the past-producing Relief Canyon mine in northern Nevada. . .there are about 150 Koz gold at Relief Canyon and the company has a fully commissioned but not yet permitted gold plant up and ready to run. This stock is probably trading at $0.30 so your downside is limited; if you like the management, you have to like a stock like this."

Michael Berry, Morning Notes (5/10/12) "On March 10, Pershing Gold Corp. announced drill results. . .they were impressive. The company stepped out 200m north of its current north pit and hit much higher-grade gold. . .these results extend the gold mineralization and indicate that higher-grade 'feeder' zones exist. . .these results are very positive and will likely allow for a much larger gold resource to be reported this year (NI 43-101) as Pershing Gold continues its consolidation and drilling programs around the Relief Canyon mine."

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