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$PGLC / $T.PGLC Mine Development Associates ("MDA"), Kappes Cassidy & Associates, of Reno, NV and Jorgensen Engineering and Technical Services, of Centennial, CO , completed the PFS for the Company's Relief Canyon gold mine with an effective date of May 26, 2017 . The positive PFS by MDA recommends that Pershing Gold advance the Relief Canyon Project to a production decision. Highlights from the PFS include a pre-tax net present value ("NPV") of $144.6 million , an internal rate of return ("IRR") of 89% and Net Cash Flow of $192.7 million . This NPV, IRR and Net Cash Flow assume pre-tax economics using $1,250 per ounce ("/oz") of gold ("Au"), $16.75 /oz of silver ("Ag") and a 5% discount rate. Further highlights from the PFS are listed below in Table 1 (showing updates to the Preliminary Economic Assessment ("PEA") the Company announced on June 24, 2016 ), and PFS gold price sensitivities are listed below in Table 2.

https://finance.yahoo.com/news/pershing-gold-announces-positive-preliminary-120300261.html