Pershing Gold Corporation

An Emerging Nevada Gold Producer

Reopening the Relief Canyon Mine

Discovering New Gold Deposits

November 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 PGC’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 PGC’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 PGC’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.

David Rector -- Vice President - Administration and Finance Treasurer and Director

David Rector has served in general management roles and directed the business operations of a number of gold mining companies during the past 35 years

such as Universal Gold Mining Corp, Nevada Gold Holding, Inc. and Standard Drilling, Inc. He is experienced in all of the facets of public company

governance and process in the US. Mr. Rector presently sits on four Board of Directors for US public companies and chairs or is a member of several audit

and compensation committees. He has worked for a Fortune 500 Company as well as serving in senior general management roles for several small to mid-size

organizations during the past 25 years.

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Expert Team Implements Resource Expansion

and Fast-Track Mine Reopening Strategy

• Assembled team of well known, highly-regarded mining

experts with the complete suite of business, geologic,

legal, environmental and engineering skills to expand

the resource and achieve fast-track project reopening

• Steve Alfers – Executive Chairman, CEO & President

• Larry Hillesland – VP Exploration & Development

• Tim Janke – Mine Reopening Manager

• Debra Struhsacker - Permitting and Government Relations

• Robert Casaceli – Sr. Geologist & Geophysicist

• Stephen Tibbals – Plant Engineer

• Bill Houston – Landman

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Share Structure

SHARE STRUCTURE

Shares Issued and Outstanding* 256,619,445

Warrants** 12,222,188

Stock Options Outstanding*** 35,298,000

Total fully diluted shares as of September 30, 2012 304,139,633

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*Common Shares outstanding as of September 30, 2012.

**All vested as of September 30, 2012.

***31,712,267 vested as of September 30, 2012.

Relief Canyon: An Exciting Nevada Gold

Mine Reopening Opportunity

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• Acquired Relief Canyon Mine and heap leach processing

facilities out of bankruptcy in August 2011

• Newly refurbished

processing facilities

are fully permitted

• Poised for accelerated

mine reopening with

limited capital

requirements

• Situated in an under-

explored part of

Nevada with

significant discovery

potential

Dominant Land Position

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Relief Canyon Year 1 Progress Milestones

• Consolidated lands surrounding the mine

• Eliminated property boundary constraints that limited past mine development

• Expanded landholdings to cover more than 25,000 acres (39 sq mi)

• Completed drilling 127 RC and core holes (61,083 ft/18,648 m)

• Developed a breakthrough exploration model

• Discovered two previously unrecognized mineralization styles

• New model will guide future exploration and expand the resource

• Discovered new mineralization in the previously mined main breccia mineral zone

• Should expand previous operator’s resource of 248,000 indicated & inferred gold ounces

• Used sophisticated geophysical surveys to find new mineral exploration targets

• Recommissioning the fully built and permitted heap leach gold facilities

• Hired team of highly experienced exploration and mining professionals

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Uniquely Positioned to Become Nevada’s

Next Gold Producer

• The fully permitted and built heap leach processing facilities

present unique opportunity for fast-track reopening

• Relatively low capital investment required to start producing

gold from this property

• Unlike our peer companies, PGC faces lower risks and

uncertainties associated with raising capital, prolonged

permitting, and building a new mine and processing facilities

• 2011 – 2012 drilling results expected to expand previous

operator’s indicated and inferred resource of 248,000 oz gold

• Ideally situated to replicate Allied Nevada’s redevelopment

success at Hycroft

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Relief Canyon Mine and State-of-the-Art

Heap Leach Gold Processing Facility

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• Relief Canyon Mine • 3 open-pit mines 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 Technical Report expected to expand this resource to 600,000 – 750,000 projected ounces in Q4 2012

• Initial target gold production of 50,000 oz of gold per year

• Target start-up date - 2014

• Ready-to-operate Heap Leach Facility • Equipment tests to begin in Q4 2012 for

recommissioning

• Initiating design and permitting work to add a gold refinery

• Able to process oxide gold ores from other properties

• State and federal permits in good standing

Strategic Property Consolidation Provides

Control Over 25,000 Acres (39 Sq Mi)

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• PGC controls claims and private lands surrounding the mine

• Mine can be expanded in all

directions

• Previous owners were landlocked which impeded mine development

• Lands include wholly-owned claims and claims and private lands leased from Newmont

• PGC owns over 700 claims in the Pershing Pass area

• Includes numerous untested mineral targets

• Controls substantial portion of Pershing Gold & Silver Trend

NEVADA PACKARD MINE

SOUTH RELIEF PROJECT

Relief Canyon and Other Humboldt Range Mines

are Aligned Along Major NNE-Trending Fault

• The Humboldt Range hosts many

gold and silver mines and deposits:

• Relief Canyon, Rochester, Florida

Canyon, Spring Valley, Willard-

Colado, and Standard

• Historic production plus existing

resources exceeds 8,800,000 oz

gold and 178,500,000 oz silver

• 140,000 oz historic production at

Relief Canyon

• Humboldt Range mines of diverse

ages are aligned along the Black

Ridge Fault, a major NNE-trending

range-front fault

• Relief Canyon, NV Packard,

Rochester, and Spring Valley

• Fault appears to be a long-lived

conduit for mineralization

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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 3 drill programs

• $5.3 million in exploration costs

• 61,083 ft/18,648 m drilled

• 15 piezometer holes

• 4 exploration holes tested 3 geophysical targets

• Assay results pending

Newly Discovered Mineralization will

Expand the Relief Canyon Resource

• Drilled 127 RC and core holes in and around the mine from August 2011 to September 2012

• 61,083 ft/18,648 m

• Completed drilling south of the mine (60+ drill hole program)

• Drilling expands mineralized zones in all directions around the existing pits

• Should significantly increase previous operator’s 2010 indicated and inferred resource of 248,000 oz gold (Mine Development Associates)

• MDA’s 2010 resource based on 591 historic drill hole database

• Roscoe Postle Associates USA, Ltd. expected to prepare a new NI 43-101 compliant Technical Report in Q4 2012 to incorporate 2011 – 2012 drilling results

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Step-out holes outside of the existing pits have

discovered Main Breccia Zone Mineralization

beyond the current resource boundary

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

Selected Drilling Results from 2011 and 2012

RC and Core Drilling Campaigns

Drill Hole Width (ft) Au (opt) Mineralization Style

SBG11-D04 100 0.042 Main Breccia Zone

SBG11-D01 44 0.035 Lower Zone

SBG11-D05 including

53 5

0.067 0.345

Feeder Zone

SBG11-D07 80 0.045 Lower Zone

SBG12-D02 38 0.075 Main Breccia Zone

SBG12-D03 including

55 5/5

0.125 0.428/0.642

Lower Zone & Feeder Zone

SBG12-D04 309 0.014 Main Breccia Zone & Feeder Zone

RC12-015 177 0.012 Main Breccia Zone

RC12-027 123.5 0.015 Main Breccia Zone

RC12-028 146 0.016 Main Breccia Zone

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Drilling discovers gold beyond the current pit boundaries Drilling discovers Feeder Zone and Lower Zone mineralization styles

• These newly recognized mineral zones are a breakthrough discovery *All of the results from these drilling programs will be posted on the Company’s website.

Geophysical Surveys Discovered New

Mineralized Systems Outside of the Mine

• Sophisticated site-wide geophysical surveys to locate buried targets • CSAMT

• IP/Resistivity

• Gravity

• Magnetics

• Discovered Pershing Packard and South Relief hydrothermal systems

• Drilling confirms hydrothermal

alteration and mineralization

• Identified crustal-penetrating structures

• Possible conduits for mineralizing fluids

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Strategic Partnership with Coeur

Rochester - Our Neighbor to the North

• Coeur purchased 10,937,500 shares of PGC stock in June 2012 private placement

• Synergies along northern boundary • Coeur’s Nevada Packard

Mine to the north

• PGC’s Pershing Packard Property to the south

• Nevada Packard and Pershing Packard may be part of the same mineral system

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Drilling in North Pit at Relief Canyon looking north at

Coeur’s Nevada Packard Mine

Pershing Gold:

A Unique Nevada Gold Opportunity

• Poised to become Nevada’s next gold producer through fast-track reopening of the Relief Canyon Mine and heap leach facilities

• Path to production requires relatively modest capital investment

• Limited exposure to risks, delays and uncertainties compared to many other start-up projects

• Facility is scalable at relatively low capital cost to process ores from expanded Relief Canyon resources or nearby discoveries

• Fill toll heap leach processing niche for ores from third-parties with viable discoveries but no processing facilities

• Aggressive drilling programs lead to rapid resource expansion

• Expect previous operator’s resource to increase from 248,000 ounces indicated and inferred to 600,000 – 750,000 ounces

• New NI 43-101 compliant Technical Report expected to be prepared in Q4 2012 by Roscoe Postle Associates USA, Ltd. of Denver

• New mineral systems already discovered at Pershing Packard and South Relief

• Company focus in the under explored but highly prospective Pershing Gold and Silver Trend in the Humboldt Range in Nevada

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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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