Pershing Gold Corporation Completes Private Placement With Coeur d'Alene Mines Corporation

Pershing Gold Corporation PGLC is pleased to announce that Coeur d'Alene Mines Corporation CDE, CDM ("Coeur") has purchased 10,937,500 shares of Pershing Gold Corporation Common Stock in a private placement priced at $0.32 per share. Dr. Phillip Frost, an existing shareholder of Pershing Gold, joined Coeur in this private placement through Frost Gamma Investment Trust ("FGIT"), purchasing 1,562,500 shares of Pershing Common Stock under substantially the same terms and conditions as Coeur. Coeur and FGIT will have the right to participate in future financings to maintain their respective ownership interests. Gross proceeds of the private placement totaled $4.0 million.