$PGLC Mine Development Associates, Kappes Cassidy

$PGLC Mine Development Associates, Kappes Cassidy & Associates, of Reno, NV and Jorgensen Engineering and Technical Services, of Centennial, CO, completed the PFS for the Company's Relief Canyon gold mine with an effective date of May 26, 2017. The positive PFS by MDA recommends that Pershing Gold advance the Relief Canyon Project to a production decision. Highlights from the PFS include a pre-tax net present value of $144.6 million, an internal rate of return of 89% and Net Cash Flow of $192.7 million. This NPV, IRR and Net Cash Flow assume pre-tax economics using $1,250 per ounce of gold, $16.75/oz of silver and a 5% discount rate. Further highlights from the PFS are listed below in Table 1 (showing updates to the Preliminary Economic Assessment the Company announced on June 24, 2016), and PFS gold price sensitivities are listed below in Tab

T.PGLC