Pershing Gold Corporation Announces 2011 Drilling Results

Pershing Gold Corporation

today announced the results of its 2011 drilling program at its 100 percent owned Relief Canyon gold-silver project in the Humboldt Range, Pershing County, Nevada. The program consisted of 8 core holes and 5 reverse circulation drill holes (approximately 12,386 feet) testing the targets developed in mid-2011 (See press release dated October 5, 2011). The 2011 program was completed in December 2011, and final assay results were received in late February 2012. Results were particularly encouraging in the Southwest Target area, with 1.44 g/t Au over 100 feet (0.042 oz Au/ton) returned from hole SBG11-RC04, beginning at a depth of 280 feet. "Our 2011 Drill Program set out to test the potential to expand and upgrade the resource at Relief Canyon," said Stephen D. Alfers, Pershing Gold's President and CEO. "We discovered gold on trend to the southwest. These results indicate continuity of favorable mineralization farther to the southwest than was previously known. We also achieved encouraging results from drilling two other targets. The results announced today lay the foundation for our 2012 drilling program where we'll follow up on these results and step out to drill the lands to be acquired when we close our deal announced yesterday with Newmont USA Ltd.

and Victoria Gold Corp. (TSX-V: VIT.V) closes." Collar locations of these drill holes are shown on the attached map along with the target areas outlined in red. The areas include the Southwest, North, and Range Front targets. The Range Front area included 5 holes for a total of approximately 4,911 feet, the North area had 6 holes totaling approximately 5,650 feet and 2 holes (approximately 1,825 feet) were completed in the Southwest target. Read the entire press release

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