Pershing Resources Receives Updated NI 43-101 Technical Report On Its New Enterprise Project

The Company’s Geologic Consulting Team Outlines A Potential Gold/Copper Porphyry

RENO, Nev., June 20, 2018 (GLOBE NEWSWIRE) --  Pershing Resources Company, Inc., (OTC PINK:PSGR), is pleased to announce grab sample assay data and the issuance of a 43-101 technical report for its 100% owned New Enterprise Project located in the Maynard Mining District near Kingman, Arizona. The most important feature of this work is the newly identified potential for gold-copper porphyry mineralization within the Project area. Further exploration work is highly recommended, and the Project is considered to have an excellent potential to include a significant mineral resource.

Bedrock outcropping of high-grade precious and base metal veins and relatively lower grade porphyry copper-molybdenum mineralization was previously known to occur within the New Enterprise Project. Newly acquired preliminary geological, structural, and analytical results of these occurrences suggest the presence of overlapping styles (“telescopic”) of alteration and mineralization. “Telescopic” alteration and mineralization are present within extensive, and recurring, north-south oriented vertical to sub-vertical vein systems. This is significant because zonation about a porphyry copper-molybdenum system is typically outward from the core of the porphyry; as described in the Mineral Park porphyry copper-molybdenum deposit located approximately 20 miles to the northwest. One possible explanation being considered for the overlapping “telescopic” system of alteration and mineralization is that the vein systems are situated directly over a “buried” gold-copper porphyry system.

At least three vein systems, generally referred to as Central, West, and East, have been identified spanning an area approximately 1.2 by 0.9 miles (2.0 by 1.4 kilometers), entirely within the New Enterprise Project. The host rock to the vein systems include relatively older rocks that may be a “roof” overlying a potentially buried porphyry system. “Roof” rocks would act as a cap, trapping and focusing mineralization into vein systems and potentially along its base which has yet to be determined within the Project area. This process is not unusual for gold-copper porphyry systems but involves the application of a slightly different exploration model than the standard porphyry copper-molybdenum exploration model. Combined with the lack of modern exploration work completed within the New Enterprise Project, gold-copper porphyry mineral resource potential is considered to have never been tested for the Project area.

The Central Vein System can be traced in intermittent outcrop for a minimum of 1.2 miles (2 kilometers) with a width in places up to 33 yards (30 metres). Grab sample assays of gold range from 0.00 to 9.89 grams per tonne and copper range from 28 ppm to 1.42%. The West Vein System, which has garnered less historical attention, appears to consist of a conjugate vein system 22 to 55 yards (20 to 50 metres) wide, with additional occurrences spanning a distance of up to 190 yards (175 meters), along a strike of at least 185 yards long (170 meters). Grab sample assays of gold range from 0.04 to 35.30 grams per tonne gold and copper range from 33 ppm to 1.02%. The East Vein System is poorly exposed and recent grab sample results did not report values as high as those reported from the Central and West Vein Systems. Grab sample assays of gold range from 0.01 to 0.13 grams per tonne and copper range from 99 to 162 ppm. The base of the proposed “roof” was not identified during the previous program and may only be identified with subsurface drilling.

The vein systems are currently being described as a composite of, from oldest to youngest, porphyry intrusions, early quartz veining, intense alteration, and late quartz veining. The most important significance of these results is a demonstration that the vein systems include multiple generations of precious and base metal mineralization that has never been drill tested. A common first impression of the high-grade silver, lead, zinc mineralization is that they are not wide enough or continuous enough to make-up sufficient tonnage to be considered a mineral resource. The results of the recent grab samples suggest the potential of additional precious and base metal mineralization within the vein systems along with the high-grade veins; providing a more continuous source of mineralization within and along the veins. Drilling will be required to determine the potential grade and tonnage of the vein systems.

The 43-101 technical report highly recommends further work that includes, but not limited to, airborne geophysics, geological mapping and sampling, and diamond drilling. Initial bedrock sampling is currently underway. Geophysics and diamond drilling will commence immediately after the securing of sufficient funds to complete the work.

Pershing Resources' CEO, Steve Plumb, stated, “We are pleased that the recent data and 43-101 Technical Report further substantiate Pershing Resources assertion that the New Enterprise Project is an excellent mineral exploration property. Positive feedback from ongoing work motivated us to substantially expand the land package to capture the full potential of the Project area. We are very excited to move forward with an aggressive exploration program in 2018.”

All bedrock grab sample collection, analysis, and interpretation were completed by Professional Geoscientists independent of Pershing Resources. Analysis were completed by ALS Laboratories, USA Inc. with an accredited and certified standard quality assurance and quality control methods and procedures as outlined on their webpage www.alsglobal.com. As part of Pershing Resources quality control program, ten pulp duplicates were analyzed. All quality assurance, quality control, and sample security work met expectations for their intended purposes.

The technical content of this press release has been reviewed and/or prepared by Edward C. Walker, Ph.D., P.Geo., an independent consultant as defined by National Instrument 43-101.

For more information and an electronic copy of the 43-101 technical report, please visit Pershing Resources website at: https://www.pershingpm.com/projects/the-new-enterprise-project/technical-report  

About Pershing Resources

Pershing Resources is a precious and base metals exploration and mining company with several projects in North America. The Company is based in Reno, Nevada and owns an operations facility near Kingman, Arizona. It is currently focused on the development of it's 100% owned New Enterprise and Mohave-Standard properties, collectively referred to as the New Enterprise project. The New Enterprise Project is located between the Mineral Park Porphyry Cu-Mo mine (approximately 20 miles to the northwest) and the Baghdad Cu-Mo mine (approximately 45 miles to the southeast). The Company's other assets are comprised of mining properties in various stages of development located in the Western United States.

As opportunities arise, the Company will seek to strengthen its balance sheet through acquisition of additional mineral rights and mining properties. Pershing Resources is committed to responsible mining practices and, we believe, is positioned to deliver sustained growth and performance for years to come.

Forward-Looking Statements

The information contained in this press release as well as the information on the Company's website is provided solely for the reader's general knowledge. Such information is not intended to be a comprehensive review of all matters pertaining to the Company. Certain statements included herein and on the Company's website, constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, these forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to the Company's management. When used in this press release and on the Company's website, the words "estimate," "project," "believe," "anticipate," "intend," "expect," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance and/or achievements of the Company or of the gold mining industry in general to be materially different from future results, performance and/or achievements expressed or implied by those forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties related to fluctuations in gold, silver and other commodity prices, uncertainties relating to interpretation of drill results and the geology of the Company's properties, uncertainty of estimates of capital and operating costs, the need for cooperation of government agencies in the development of the Company's mineral projects, the need to obtain additional financing to develop the Company's mineral projects, the possibility of delay in development programs or in construction projects, and uncertainty of meeting anticipated program milestones for the Company's mineral projects.

All forward-looking statements are expressly qualified in their entirety by this cautionary notice. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. The Company has no obligation, and expressly disclaims any obligation, to update, revise or correct any of the forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Pershing Resources Company, Inc.