Pershing Gold Corporation operates as a gold and precious metals exploration company pursuing exploration and development opportunities primarily in Nevada. Properties Relief Canyon Properties The Relief Canyon properties contain approximately 25,000 acres and comprise approximately 940 owned unpatented mining claims, 120 owned millsite claims, 170 leased unpatented mining claims, and leased and subleased private lands. The Relief Canyon properties are located approximately 100 miles northeast of Reno, Nevada. Relief Canyon Mine Property The company, through its wholly-owned subsidiary, Gold Acquisition Corp., owns 164 unpatented lode mining claims and 120 unpatented millsite claims at the Relief Canyon Mine property. The property includes the Relief Canyon Mine and gold processing facility. The Relief Canyon Mine includes three open pit mines, heap leach pads comprised six cells, two solution ponds, and a cement block constructed adsorption desorption-recovery (ADR) solution processing circuit. Newmont Leased Property Approximately 8,900 acres of the lands that the company acquired from Victoria Gold Corporation are a leasehold interest in a property package, including unpatented mining claims. The Newmont (Newmont USA Ltd.) leased property consists of 155 unpatented lode mining claims owned by Newmont comprising approximately 2,800 acres, approximately 4,900 acres of privately-owned fee minerals leased by Newmont from the owners, and 62 unpatented mining claims that were owned by Victoria Gold Corporation but fall within the Newmont Leased property and area of interest, and thus are subject to the terms of the 2006 Minerals Lease and Sublease with Newmont. Pershing Pass Property The Pershing Pass property consists of approximately 700 unpatented mining claims covering approximately 12,000 acres and a mining lease covering approximately 600 acres. The Pershing Pass property includes approximately 490 unpatented lode mining claims covering approximately 9,700 acres that the company acquired from Silver Scott Mines in 2012 and approximately 283 unpatented lode mining claims covering approximately 5,660 acres owned directly by a Victoria Gold Corporation subsidiary. Regulations The company’s exploration activities are subject to various levels of federal and state laws and regulations relating to protection of the environment, including requirements for closure and reclamation of mineral exploration properties. Some of the laws and regulations include the Clean Air Act; the Clean Water Act; the Comprehensive Environmental Response, Compensation and Liability Act; the Emergency Planning and Community Right-to-Know Act; the Endangered Species Act; the Federal Land Policy and Management Act; the National Environmental Policy Act; the Resource Conservation and Recovery Act; and related state laws in Nevada. Business Strategy The company’s business strategy is to acquire and advance precious metals exploration properties. The company seeks properties with known mineralization that are in an advanced stage of exploration and have previously undergone some drilling but are under-explored.
pershing gold corp (7PG:Berlin)
1658 Cole Boulevard
Lakewood, CO 80401
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