Pershing Gold Corporation Expands Landholdings at the Relief Canyon Mine Project in Pershing County, Nevada

Pershing Gold Corporation Expands Landholdings at the Relief Canyon Mine
Project in Pershing County, Nevada

LAKEWOOD, Colo., Feb. 7, 2013 (GLOBE NEWSWIRE) -- Pershing Gold Corporation
(OTCBB:PGLC) is pleased to announce that it has located 105 new unpatented
mining claims and acquired by lease roughly 635 acres of private lands at its
Relief Canyon Project in Pershing County, Nevada. Both the new claims and the
private lands are strategic additions that add nearly 2,630 acres to Pershing
Gold's land position. The Company now controls approximately 25,220 acres in
the Pershing Gold and Silver Trend along the southern flank of the Humboldt
Range.


As shown on Figure 1, the new claims are mainly located to the northwest and
northeast of the Relief Canyon Mine. Gold Acquisition Corp., Pershing Gold's
wholly owned subsidiary, owns 87 of the new claims. Pershing Gold owns ten of
the new claims which lie within the Area of Interest ("AOI") of the 2006
Minerals Lease and Sublease that Pershing Gold acquired in April 2012 when it
purchased the interests of Victoria Resources (US), a subsidiary of Victoria
Gold Corp. (TSX:VIT-V) in this Lease and Sublease with Newmont USA Limited,
doing business in Nevada as Newmont Mining Corporation ("Newmont") (NYSE:NEM).
Additionally, Pershing Gold has located eight new claims south of the Relief
Canyon Mine in the Pershing Pass project area.

Pershing Gold recently entered into a mining lease with BTF Properties under
which Pershing Gold has exclusive rights to about 635 acres in the Pershing
Pass project area. The BTF lease provides the lessors with annual advanced
royalty payments, a production royalty equal to a percentage of net smelter
returns subject to a buy-down option, and has a primary term of ten years
which may be extended for a second ten-year term and for so long thereafter as
mineral development work continues on the property.

Figure 1: Map featuring newly acquired claims and private land is available
at: http://media.globenewswire.com/cache/19459/file/17993.pdf

In commenting upon Pershing Gold's recent additions to its landholdings,
Stephen D. Alfers, Pershing Gold President, CEO, and Executive Chairman
stated, "We continue to add highly prospective lands to our land package in
order to further secure mineral targets that Pershing Gold's geologists have
identified on the basis of reconnaissance mapping, sampling, and geophysics."

Since acquiring the Relief Canyon Mine property in August 2011, the Company's
landholdings at Relief Canyon have grown from a little over 1,500 acres of
unpatented mining claims and mill sites to more than 25,000 acres of mining
claims, mill sites, and private lands. This significant increase reflects the
Company's belief that this under-explored part of Nevada has potential for
future discoveries of new mineral deposits.

In describing Pershing Gold's current land portfolio, Stephen Alfers said,
"Our lands include the Relief Canyon Mine and heap leach gold processing
facility which could resume mining and gold production in 2014. In addition,
we control advanced-stage targets adjacent to the mine that we expect to drill
in the future to expand the recently announced in-pit mineral resource of
463,000 measured and indicated ounces of gold and 101,000 inferred ounces of
gold. (See January 24, 2013 press release)
[http://ir.stockpr.com/pershinggold/press-releases/detail/393/pershing-gold-corporation-increases-mineralized-material-at-relief-canyon-by-a-factor-of-nearly-five-and-announces-an-in-pit-gold-resource-estimate].
We also control the Pershing Pass project area south of the Relief Canyon
Mine—a great deal of underexplored land along the Pershing Gold and Silver
Trend with numerous grassroots exploration targets."

In the coming year, Pershing Gold is planning a systematic development
drilling program with the objective of upgrading the identified mineralized
areas adjacent to the mine to bring them into a resource category. The Company
also plans to initiate an exploration drilling program to start testing many
of the grassroots targets in frontier areas surrounding the Relief Canyon Mine
and in the Pershing Pass Project area. These projects will require additional
external funding.

About Pershing Gold Corporation

Pershing Gold Corporation is a new gold exploration and development company
focusing on acquiring, exploring, and developing gold deposits in Pershing
County and elsewhere in Nevada. The Relief Canyon Mine property in Pershing
County is owned by Gold Acquisition Corp., the Company's wholly owned
subsidiary.

Cautionary Note to United States Investors Regarding Estimates of Measured,
Indicated, and Inferred Resources

The terms "measured," "indicated" and "inferred resources" are defined in
Canadian National Instrument 43-101; however these terms are not recognized
under the US SEC Industry Guide 7.US investors are cautioned not to assume
that any or all of measured, indicated or inferred resources are economically
or legally mineable or that these resources or resources reported herein as an
"in-situ mineral resource" or "mineralized material" will ever be converted
into reserves. Inferredmineral resources, in-situ mineral resources and
mineralized materials have a high degree of uncertainty as to their existence.
It cannot be assumed that all or any part of an inferred mineral resource, an
in-situ mineral resource, or mineralized material will ever be upgraded to a
higher category.US investors are urged to consider closely the disclosure in
our Form 10-K and other SEC filings.You can review and obtain copies of these
filings from the SEC's website at http://www.sec.gov/edgar.shtml.

Legal Notice and Safe Harbor Statement

This press release contains "forward-looking statements" within the meaning of
Section 21E of the Securities Exchange Act of 1934. All statements, other than
statements of historical fact, including, without limitation, those with
respect to the objectives, plans and strategies of Pershing Gold set forth
herein including the planned reopening and recommissioning of the Relief
Canyon mine and processing facilities in 2014 anticipated drilling and other
exploration on Pershing Gold's properties, results of drilling,
interpretations of exploration results and other geologic information at
Relief Canyon, potential expansion of theresource at the Relief Canyon
properties, and those preceded by or that include the words "believes,"
"expects," "given," "targets," "intends," "anticipates," "plans," "projects,"
"forecasts" or similar expressions, are "forward-looking statements." Although
the Company's management believes that such forward-looking statements are
reasonable, it cannot guarantee that such expectations are, or will be,
correct. These forward-looking statements involve a number of risks and
uncertainties, which could cause the Company's future results to differ
materially from those anticipated. Potential risks and uncertainties include,
among others, inability to obtain external financing to fund the
recommissioning of the processing facilities and other work related to the
commencement of production at Relief Canyon, as well as planned exploration
and maintenance of property rights; interpretations or reinterpretations of
geologic information, unfavorable exploration results, inability to obtain
permits required for planned production, exploration and other activities,
general economic conditions and conditions affecting the industries in which
the Company operates; the uncertainty of regulatory requirements and
approvals; fluctuating mineral and commodity prices; risks of junior
exploration and pre-production activities; and maintenance of important
business relationships. Additional information regarding the factors that may
cause actual results to differ materially from these forward-looking
statements is available in the Company's filings with the SEC including the
Annual Report on Form 10-K for the year ended December 31, 2011 and each
subsequently filed Quarterly Report on Form 10-Q and Current Report on Form
8-K. The Company assumes no obligation to update any of the information
contained or referenced in this press release.

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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