Drilling Advances Pershing Gold's Relief Canyon

12/08/2016

Additional Disclosures:

Euro Pacific Capital Inc., Pershing Gold, Nov. 10, 2016
Euro Pacific expects to receive or intends to seek compensation for investment banking services from all companies under research coverage within the next three months. Euro Pacific or its officers, employees or affiliates may execute transactions in securities mentioned in this report that may not be consistent with the report’s conclusions.

Within the last twelve months, Euro Pacific has received compensation for investment banking services from Pershing Gold. This research contains forward looking statements made pursuant to the safe harbor provision of Private Securities Litigation Act of 1995.

Regulation Analyst Certification ("Reg AC") — Bhakti Pavani,

The views expressed in this report (which include the actual rating assigned to the company as well as the analytical substance and tone of the report) accurately reflect the personal views of the analyst(s) covering the subject securities. An analyst's sector is the universe of companies for which the analyst provides research coverage. Accordingly, the rating assigned to a particular stock represents solely the analyst's view of how that stock will perform over the next 12 months relative to the analyst's sector average.

No part of the compensation of the analyst preparing this report was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by such analyst in this report.

Rodman & Renshaw, Pershing Gold Corporation, Nov. 10, 2016
Rodman & Renshaw is a unit of H.C. Wainwright & Co., LLC.

Investment Banking Services include, but are not limited to, acting as a manager/co-manager in the underwriting or placement of securities, acting as financial advisor, and/or providing corporate finance or capital markets-related services to a company or one of its affiliates or subsidiaries within the past 12 months.

I, Heiko F. Ihle, CFA and Jake Sekelsky , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies.

None of the research analysts or the research analyst’s household has a financial interest in the securities of (including, without limitation, any option, right, warrant, future, long or short position).

As of October 31, 2016 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Pershing Gold Corporation.

Neither the research analyst nor the Firm has any material conflict of interest in of which the research analyst knows or has reason to know at the time of publication of this research report.

The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services.

The Firm or its affiliates did receive compensation from Pershing Gold Corporation for investment banking services within twelve months before, and will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report.

The Firm does not make a market in Pershing Gold Corporation as of the date of this research report.

BMO Global Mining, Mining Specialty Sales Note, Nov. 11, 2016
This material is prepared by the BMO Capital Markets Corp. (“BMOCMC”) Equity Sales and Trading Desk.  It is not a product of BMOCMC’s Research Department. Views or opinions expressed herein may differ from the views and opinions expressed by BMOCMC’s Research Department.