Pershing Gold Corporation Names Alex Morrison to Board of Directors

Announces Changes to Directors and Executive Management

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| Source: Pershing Gold Corporation

LAKEWOOD, Colo., Nov. 26, 2012 (GLOBE NEWSWIRE) -- Pershing Gold Corporation (OTCBB:PGLC) announced today that it has appointed Alex Morrison to its board of directors.

Mr. Morrison is a mining executive, chartered accountant and certified public accountant with over 26 years of experience in the mining industry. He currently serves on the boards of Detour Gold Corporation and Taseko Mines Limited. Mr. Morrison has held senior executive positions at a number of senior producing mining companies, most recently serving as Vice President and Chief Financial Officer of Franco-Nevada Corporation from 2007 to 2010.  

In addition, further to Pershing's decision to bring its finance and accounting function inside the company, it designated Eric Alexander, Pershing's Vice President of Finance and Controller, principal financial officer and principal accounting officer. Mr. Alexander joined Pershing in September 2012. Previously, Mr. Alexander served as Controller at Sunshine Silver Mines Corporation and Golden Minerals Company. He is a certified public accountant with over 20 years of professional finance and accounting experience.

The board of directors accepted the resignations of Adam Wasserman as Chief Financial Officer and David Rector as Treasurer, Vice President of Administration and Finance and member of the board of directors. Mr. Rector will remain as an employee of the Company to assist with transition matters and other projects until the end of the year.

"Pershing is grateful to both David Rector and Adam Wasserman for helping to build the company," said Stephen Alfers, CEO of Pershing, "We thank them for their service to Pershing and are pleased that they will continue to work with us on a consulting basis. Our decision to bring our finance and accounting functions in house, represented by the addition of Alex Morrison to the Board and of Eric Alexander as our principal financial and accounting officer, reflect the significant growth and advancement of Pershing's projects this year, and will help us to continue to advance the Relief Canyon mine towards production and our exploration projects."

About Pershing Gold Corporation

Pershing Gold Corporation is a new gold exploration and development company focusing on acquiring, exploring, and developing gold deposits in Pershing County and elsewhere in Nevada. The Relief Canyon Mine property in Pershing County is owned by Gold Acquisition Corp., the Company's wholly owned subsidiary.

Legal Notice and Safe Harbor Statement

This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein including the plan to commence production at the Relief Canyon mine and advance the Company's exploration projects, and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar expressions, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, inability to obtain external financing to fund the recommissioning of the processing facilities, and the reopening and commencement of production at the Relief Canyon Mine, planned exploration or maintain property rights; interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for planned production, exploration and other activities, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices; risks of junior exploration and pre-production activities; and maintenance of important business relationships. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the SEC including the Annual Report on Form 10-K for the year ended December 31, 2011 and each subsequently filed Quarterly Report on Form 10-Q and Current Report on Form 8-K. The Company assumes no obligation to update any of the information contained or referenced in this press release.

Stephen D. Alfers
Executive Chairman, President and CEO
Phone Number: 720.974.7248
Email: 
www.PershingGold.com