New Terms Of Ownership And Expansion Of The West Bolo Gold Project

RENO, NV - Pershing Resources Company, Inc. has finalized negotiations to terminate its previously announced Earn-In Joint Venture Agreement with Americas Gold Exploration Inc. (AGEI) of Reno, Nevada. replacing it with a 100% mineral rights agreement with AGEI for the Company's West Bolo Gold Project. Pershing also announced a 100% mineral rights agreement with Mountain Gold Claims LLC. ("MGC"), also of Reno, Nevada, for two unpatented mineral claims that had overlapped, but not included within, the Company's original West Bolo Gold Project area. Accompanying these negotiations is the additional staking of 29 unpatented mining claims or an additional area of 599 acres. This brings the total number of Pershing's 100% mineral rights ownership of unpatented mining claims for the West Bolo Project to 113, or a total of 2334 acres. The additional staked 29 unpatented mining claims are within the area of influence for both the AGEI and MGC agreements.

The West Bolo Gold Project is located within the Hot Creek Range, within Nye County, approximately 10 miles north of the Tybo mining district and 65 miles northeast of Tonopah, within central Nevada. Based on work completed by previous exploration companies and yet to be confirmed by Pershing, the West Bolo Project includes four north trending gold-bearing structures that may be comparable to Carlin-style gold mineralization. As of the date hereof, the eastern boundary of the West Bolo Project is within one mile of New Placer Dome Gold Corp.'s Bolo Project that has been reported to include Carlin-style gold mineralization in north trending structures. by New Placer Dome Gold Corp. recently reported reverse circulation drilling results for its Bolo Project that included 25.9 meters of 0.92 grams/tonne gold within a zone of 97.5 meters averaging 0.41 grams/tonne gold. Barrian Mining Corp., a predecessor to New Placer Dome Gold Corp., reported reverse circulation drill results in 2019 for the Bolo Project of 1.2 grams/tonne gold across 122 meters and 148 grams/tonne gold across 4.6 meters. The West Bolo Gold Project is in the early stages of mineral exploration and will require a significant amount of initial fieldwork to better characterize and define any potential gold-bearing structures and to determine possible locations for drill testing. As yet, no drilling results comparable to those in the nearby Bolo Project have been reported within the West Bolo Project area.