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Thursday, August 17, 2017

Pershing Gold (NASDAQ: $PGLC) (TSX: $PGLC.TO) New Website Showcases Preliminary Feasibility Study (PFS) for the Company's Relief Canyon Gold Mine

Pershing Gold (NASDAQ: $PGLC) (TSX: $PGLC.TO) New Website Showcases Preliminary Feasibility Study (PFS) for the Company's Relief Canyon Gold Mine

Point Roberts, WA, Delta BC –August 17, 2017 ( newswire), a global news source covering leading sectors including mining stocks announces Pershing Gold Corporation (NASDAQ:PGLC) (TSX:PGLC) (FWB:7PG1),an emerging Nevada gold producer has launched a new website to showcase the robust economics evidenced in the recently released PFS for the Company's Relief Canyon Gold Mine.

Additionally the company website features the June investor presentation at:

Table 1: Relief Canyon PFS Highlights

Company Model
Life of mine (“LOM”)
5.8 years
5.6 years
5.6 years
Average LOM production
88,500 oz Au/year
93,900 oz Au/year
97,100 oz Au/year
Cash Cost
$772/oz Au
$770/oz Au
$769/oz Au
All in Sustaining Cost (“AISC”)
$804/oz Au
$802/oz Au
$801/oz Au
Initial capital expenditure (“CAPEX”)
$12.2 million
$23.6 million
$23.6 million
Sustaining CAPEX
$16.6 million
$22.8 million
$22.8 million
Pre-tax Net Present Value (“NPV”), 5%
$159 million
$145 million
$151 million
Pre-tax Internal Rate of Return (“IRR”)
Pre-tax Net Cash Flow
$206 million
$192.7 million
$201 million
After-tax NPV, 5%
$121 million
$126 million
$131 million
After-tax IRR
After-tax Net Cash Flow
$157.6 million
$167.7 million
$174.1 million

Table 2: PFS Gold Price Sensitivity Analysis, Before Tax
Gold Price / oz Au
PFS Plan NPV, 5%
Company Plan NPV, 5%
Company Plan IRR
$226 million
$232 million
$206 million
$212 million
$185 million
$192 million
$165 million
$171 million
$145 million
$151 million
$124 million
$131 million
$104 million
$110 million
$84 million
$90 million

About Pershing Gold Corporation
Pershing Gold is an emerging gold producer whose primary asset is the Relief Canyon Mine in Pershing County, Nevada. Relief Canyon includes three historic open-pit mines and a state-of-the-art, fully permitted and constructed heap-leach processing facility. Pershing Gold is currently permitted to resume mining at Relief Canyon under the existing Plan of Operations.

Pershing Gold's landholdings cover approximately 25,000 acres that include the Relief Canyon Mine asset and lands surrounding the mine in all directions. This land package provides Pershing Gold with the opportunity to expand the Relief Canyon Mine deposit and to explore and make new discoveries on nearby lands.

Pershing Gold Corporation (NASDAQ:PGLC) (TSX: PGLC) is a featured mining company on Visit company profile

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