LAKEWOOD, Colo., Sept. 10, 2018 /CNW/ -- Pershing Gold
Corporation (NASDAQ:PGLC), (TSX:PGLC), (FWB:7PG1) ("Pershing Gold"
or the "Company"), the emerging Nevada gold producer advancing the Relief
Canyon mine, is making the following statement regarding its former
director, Barry C. Honig ("Honig"),
who resigned from the Company's Board of Directors in August 2018.
On Friday, September 7, 2018 the
Securities and Exchange Commission announced that it has commenced
a legal action against Honig and various other parties who are
alleged to have violated federal securities laws in connection with
their ownership of three un-named companies. These allegations are
not related to Pershing Gold and the Company is not named or
referenced in the complaint.
The primary asset of Pershing Gold is the Relief Canyon
open-pit gold mine in Pershing County,
Nevada. Under the Feasibility Study released in May 2018, Relief Canyon is expected to have an
average life-of-mine gold production of 91,000 ounces per year with
cash costs of US$769 per ounce and
AISC of $802 per ounce. Upon
successful project financing, Relief Canyon is expected to have a
short six-to-nine-month construction period before commencing
production.
About Pershing Gold Corporation
Pershing Gold is an
emerging gold producer whose landholdings cover over 29,000 acres
that include Relief Canyon Mine and surrounding lands in all
directions. This provides Pershing Gold with the opportunity to
expand the Relief Canyon Mine deposit and to explore and make new
discoveries nearby. Pershing Gold is currently permitted to resume
mining at Relief Canyon under its existing Plan of Operations.
Pershing Gold is listed on the NASDAQ Global Market and the
Toronto Stock Exchange under the symbol "PGLC" and on the Frankfurt
Stock Exchange under the symbol "7PG1".
Legal Notice and Safe Harbor Statement
This press
release contains "forward-looking statements" within the meaning of
the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical fact, including statements with respect to
the anticipated production, project financing, construction
timeline, expansion of the Relief Canyon Mine deposit and
exploration of opportunities on nearby lands, 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, interpretations or reinterpretations of geologic
information, unfavorable exploration results, inability to obtain
permits required for future exploration, development or production,
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; final investment approval; and the ability to obtain
necessary financing on acceptable terms or at all. 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 Securities and Exchange
Commission, including the Annual Report on Form 10-K for the year
ended December 31, 2017. The Company
assumes no obligation to update any of the information contained or
referenced in this press release.
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SOURCE Pershing Gold Corporation