Pershing Gold Corporation

A Unique Growth Story

NWMA’s118th Annual Meeting

December 7, 2012

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Forward-looking Statements

This presentation contains forward-looking statements. These statements relate to future events or our future

financial performance and involve known and unknown risks, uncertainties and other factors that may cause our

or our industry's actual results, levels of activity, performance or achievements to be materially different from any

future results, levels of activity, performance or achievements expressed, implied or inferred by these forward-

looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,”

“will,” “should,” “could,” “would,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,”

“projects,” “potential” or “continue” or the negative of such terms and other comparable terminology.

These statements are only predictions based on our current expectations and projections about future events.

You should not place undue reliance on these statements. Actual events or results may differ materially. In

evaluating these statements, you should specifically consider various factors, including the risks outlined under

“Risk Factors” in our reports filed with the SEC. These and other factors may cause our actual results to differ

materially from any forward-looking statement. We undertake no obligation to update any of the forward-looking

statements after the date of this presentation to conform those statements to reflect the occurrence of

unanticipated events, except as required by applicable law.

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

We use certain terms in this presentation, such as “measured”, “indicated” and “inferred resources”, that are

defined in Canadian National Instrument 43-101; however these terms are not recognized under the U.S. 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 will ever be converted into

reserves. “Inferred mineral resources“ have a high degree of uncertainty as to their existence and it cannot be

assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. U.S.

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.

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Management Team

Stephen Alfers -- Executive Chairman, President and Chief Executive Officer

Stephen D. Alfers became Pershing’s Executive Chairman, President and Chief Executive Officer in March 2012. Prior to accepting this position with

Pershing Gold Corporation f/k/a Sagebrush Gold, Ltd., Mr. Alfers was with Franco-Nevada Corporation (NYSE:FNV) where he served as Chief of U.S.

Operations from 2007 until the end of 2011. Before joining Franco-Nevada Corp, Mr. Alfers was President and CEO of NewWest Gold Corporation, where

he developed a large portfolio of promising Nevada gold properties including Long Canyon, Sandman, and Northumberland. A well recognized authority in

the U.S. Mining Law, public land law, and mining transactions, Mr. Alfers’ career includes twenty years of experience as a partner in several prestigious

mining, oil and gas, and natural resource development law firms where he specialized in representing large, international mining and oil and gas clients. In his

capacity as a mining law expert, Mr. Alfers has advised the United Nations, foreign governments, and Congressional committees. Mr. Alfers has extensive

experience in developing and executing corporate financing arrangements, complex mining transactions, mergers and acquisitions, and in directing legal and

government affairs.

Eric Alexander – Vice President Finance and Controller

Mr. Alexander became Pershing’s Vice President Finance and Controller in September 2012. Prior to joining Pershing Gold Corporation, he was the

Corporate Controller for Sunshine Silver Mines Corporation, a privately held mining company with exploration and pre-development properties in Idaho

and Mexico. He was also the Corporate Controller for Golden Minerals Company (successor to Apex Silver Mines Limited), a US and Canadian publicly

traded international mining company with operations and exploration activities in South America and Mexico. In addition to working in industry he also held

the position of Senior Manager with the public accounting firm KPMG LLP, focusing on mining and energy clients. He has over 23 years of corporate,

operational and business experience. Mr. Alexander has a B.S. in Business Administration (concentrations in Accounting and Finance) from the State

University of New York at Buffalo and is also a licensed CPA.

Larry Hillesland -- Vice President Exploration and Development

Mr. Hillesland became Pershing’s Vice President of Exploration and Development in February 2012. With over 30 years of experience, Mr. Hillesland has

played a key role in the discovery of several gold systems (McDonald Meadows/Keep Cool in Montana and Nixon Fork in Alaska, Candamena in northern

Mexico, and adding indicated ounces to Kinross’ Kupol Project in Russia). He also defined the 1 billion pound leachable copper deposit at Hanover

Mountain in New Mexico. Mr. Hillesland has a B.S. in Geology from the University of Idaho and a Master’s degree from Oregon State University.

Mindyjo Germann – Corporate Secretary and Investor Relations

Ms. Germann became Pershing’s Corporate Secretary in March 2012. With over 25-years of experience, Ms. Germann has provided extensive C-Level

executive support as well as management support for numerous Chief Executive Officers and multiple Boards of Directors (DigitalGlobe, Inc., MolsonCoors

Brewing Company, and Einstein Noah Restaurant Group). Ms. Germann also served as Paralegal and Closing Team Specialist for the Merger & Acquisitions

practice groups of several nationally known law firms (Hogan & Hartson LLP; Parcel, Mauro, Hultin & Spaanstra, P.C., and Holme Roberts and Owen

LLP). Ms. Germann has a Paralegal Certificate from the University of Colorado at Denver.

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Pershing’s Model for Creating Growth

• Acquire at a good value known deposits that are

inhibited for non-technical reasons and advance them

to production

• Land constraints

• Management

• Bankruptcy

• Strategic Partnering and Land Acquisition

• Attract Expertise to Advance Project

• Technical team with skill set to develop deposit including:

exploration, mine planning and environmental & permitting

• Generative Exploration

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Relief Canyon:

A Perfect Fit for the Pershing Model

• Pershing acquired out of bankruptcy the Relief Canyon

Mine and Processing Facility

• Newly refurbished and state-of-the-art processing facility

• Known mineralization amenable to that process

• The Relief Canyon Project failed for two reasons:

• Financial constraints

• Land constraints

• Pershing set out to address both constraints by:

• Acquiring lands around the project

• Building necessary strategic partnerships with neighbors

• Acquiring talent and capital to advance the project

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Expert Team Implements Resource Expansion

and Fast-Track Mine Reopening Strategy

• Steve Alfers – Executive Chairman, CEO & President

• Larry Hillesland – VP Exploration & Development

• Robert Casaceli – Sr. Geologist & Geophysicist

• Doug Prihar – Manager of Exploration

• Pete Dilles – Sr. Exploration Geologist

• Debra Struhsacker - Permitting and Government Relations

• Bill Houston – Landman

• Tim Janke – Mine Reopening Manager

• Stephen Tibbals – Plant Engineer

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2012 Growth Milestones

• Eliminated property boundary constraints that limited

past mine development and expanded landholdings to

cover more than 25,000 acres (39 square miles)

• Advanced timeline for reopening Relief Canyon Mine

and Processing Complex with relatively modest capital

investment

• Completed aggressive drilling programs which lead to

rapid resource expansion

• Identified two previously unrecognized mineralization

styles already discovered at Pershing Packard and South

Relief

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Pershing’s Assets: The Relief Canyon Mine

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• Acquired Relief Canyon Project on

1,100 acres of mining claims and mill

sites out of bankruptcy in August 2011

• Situated in an under-explored part of

Nevada with significant discovery

potential

• Three open-pits with intermittent gold

production since 1984 of approximately

140,000 ounces of gold

• Current indicated & inferred resource

of 248,000 oz gold

• New NI 43-101 compliant resource

expected in December 2012 and

Technical Report and PEA in Q1 2012

Pershing’s Assets: State-of-the-Art Heap Leach

Gold Processing Facility

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• Includes heap leach pads (permitted

capacity of 21 million tons) and an

ADR Plant with a rated capacity of

3.2M tons per year

• Newly refurbished, fully permitted and

scalable with little capital outlay

• Equipment tests under way for

recommissioning

• Initiating design and permitting work to

add a gold refinery

• Initial target gold production of 50,000

oz of gold per year

• State and federal permits in good

standing

Pershing’s Assets:

Strategic Property Consolidation

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• Pershing controls 25,000 Acres

of mining claims and private

lands surrounding the mine

• Mine can be expanded in all

directions

• Previous owners were

landlocked which impeded

mine development

• Pershing owns over 700 claims

in the Pershing Pass area

• Includes numerous untested

mineral targets

• Controls substantial portion of

the Humboldt Range

NEVADA PACKARD MINE

SOUTH RELIEF PROJECT

2012 Development and

Resource Expansion Drill Holes

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Completed 127 RC and core holes in and around the Relief Canyon mine site from August 2011 through September 2012:

• Completed three drill programs

• Spent $5.3 million on exploration

• Drilled 61,083 ft/18,648 m

• Drilling included 15 piezometer holes

• Four exploration holes tested three geophysical targets

• Expanded mineralized zone 500 ft beyond current pit boundaries

• Roscoe Postle Associates USA, Ltd. preparing a new NI 43-101 compliant resource in December 2012 and Technical Report and PEA in Q1 2013

New Exploration Model Greatly Enhances

Future Discovery Potential

• New model identifies three different mineralization styles

• Main Breccia Zone – explored and mined in the past

• Feeder Zones – new discovery not in current resource (higher

grade than MBZ)

• Lower Zone – new discovery not in current resource (higher grade than MBZ)

• Significant breakthrough in understanding the deposit and mineralization controls

• Will help identify future high-priority drilling targets to expand the resource

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2011 – 2012 drilling refines understanding of the

Relief Canyon deposit and reveals two previously

unrecognized styles of mineralization

Pershing’s Near Term Growth Strategy

• Grow and upgrade gold resources at the Relief Canyon

Mine

• Leverage the processing complex to fast-track the

company to cash flow

• Pursue discoveries in Pershing’s 25,000 acre land

position

• Continue looking for new projects that fit the Pershing

model

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Pershing Gold Corporation

1658 Cole Boulevard, Building 6, Suite 210

Lakewood, CO 80401

720.974.7248

E-mail: investors@pershinggold.com

www.pershinggold.com

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