Press Release

Reforma Sampling Results of 231 g/tonne of Silver, 14.12% Zinc

David Goldstein

VANCOUVER, BC – Victory Resources Corp. (the “Company”) is pleased to announce the initial results on their ongoing underground work program conducted on the Company’s La Reforma property located north of Choix, Sinaloa State, Mexico.

The results of initial underground sampling at the La Reforma project have been received. The samples were collected from channels cut across vein material in skarn at the 690 level. From 29 samples taken along the drift over a length of 80 metres show weighted average values as follows:

Silver: 231.48 grams per tonne
Copper: 0.84% tonne
Lead: 6.00% tonne
Zinc: 14.12% tonne

Level 690 was also the site of limited stoping. In addition to the samples taken along the drift, samples were also taken from accessible faces in the stopes bringing the total number of samples to 44. The weighted average values of all samples taken from Level 690 to date are as follows:

Silver: 183.00 grams per tonne
Copper: 0.73%/ tonne
Lead: 4.32%/ tonne
Zinc: 10.94%/ tonne

It should be pointed out that samples taken in the stoping area are not regularly spaced due to difficulty of access. Further sampling will require the use of ladders. Level 690 has an estimated back (height) of 20m.

This initial underground sampling is part of a continuing program of the company evaluate the resource potential of the La Reforma property. Additional sampling is planned for the lower levels at Level 680, Level 650 and Level 620 over a cumulative strike length of 350m and average backs (height) of some 60m. These levels are presently accessible through existing portals. This sampling program will be augmented by surface and underground diamond drilling. Underground drilling stations can be constructed at minimum cost.

“We are very encouraged by the consistent results from the underground sampling especially over a significant length of 80 metres,” stated Wally Boguski, President and CEO. “The company will continue to advance the planned drilling and sampling work programs. These results have demonstrated the same highly anomalous results for Copper, Silver, Zinc and Lead as previous historic results and bring the company a significant step closer to the goal of determining a resource estimate.”

For more information contact Corey Safran, investor Relation, at 609-228-0595, or by email at: corey@vrcorpusa.com

About Victory Resources Corporation

The company’s main focus is on the Reforma property located at the common boundary of Sinaloa and Chihuahua States in west central Mexico. The concessions cover a total area of 7,226 hectares. Victory Resources will earn a 70% undivided interest in the Reforma property as part of an option agreement. Formerly owned by Penoles in Mexico, documentation showed that between the years 1968 to 1980, the Reforma mine processed 1.8 million tonnes grading an average of 91.62 grams per tonne Ag, 1.90 per cent Pb, 7.44 per cent Zn and 0.63 per cent Cu.

The recently optioned Boleo property is situated on the western foothills of the Sierra Madre Occidental mountain range, at the common boundary of the northeastern Mexican States of Sinaloa and Chihuahua and expands the resource potential of Victory with 20,460 hectares of contiguous property. This area is characterized by a northerly prolific mineralized belt hosting the multi-million-tonne porphyry copper and gold deposits of Santo Tomas and Bahuerachi.

The Company has also begun exploration work on the Au-Wen property in British Columbia, Canada. The Au-Wen property is 100 % owned by Victory Resources and is located 30 kilometers southeast of Merritt and 8 kilometers east of the historic Aspen Grove mining camp in south-central British Columbia, Canada. The property is comprised of 91 mineral claims covering an area of 34,200 hectares. The area covered is up to 39 kilometres long and up to 21 kilometres wide.

On behalf of The Board of Directors of Victory Resources Corporation. 

Paul Lee, Director

This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Victory Resources Corp. which may cause actual results, performance or achievements of Victory Resources Corporation to be materially different from the results, performance or expectation implied by these forward looking statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Source: Victory Resources Corp

Read More

Victory Resources Corp. Update on the Work Program on the Reforma Property

David Goldstein Leave a comment

VANCOUVER, BC – Victory Resources Corp. (the “Company”) is pleased to provide an update on the current drill program on the Reforma property.

The most recent drill hole on the La Reforma that encountered significant mineralization was RDH 11 which intersected a zone from 198.12m to 207.87m of galena, sphalerite and chalcopyrite in skarn. Drill core samples were sent to ALS Chemex in Hermosillo, Mexico for analysis.

The current surface drill program is to explore for geological extensions of the main La Reforma structure particularly at depth. In connection with the overall exploration program of La Reforma the company expects to announce shortly assay results of underground sampling of sulfide bearing skarn in old drifts, sub-levels and stoping areas that has recently become accessible. The ongoing work programs are intended to outline the vein system to the South as well as to the North of the main structure.

“The main objective of the current exploration program is to define a mineral resource of substantial scale to justify a preliminary economic assessment,” stated Wally Boguski, President and CEO, “We are very encouraged that the results previously announced demonstrate highly anomalous results.”

The La Reforma Property was operated by Penoles Industries SA de CV between the years 1968 to 1980. During this period of lower metal prices, the La Reforma mine processed 1.8 million tons of complex ore grading an average of 91.62 grams per ton Ag, 1.90%, Pb, 7.44% Zn and 0.63% Cu.

Mr. Ruben Verzosa, P. Eng., a Qualified Person (QP) as defined by NI 43-101 has approved the geological content of this Press Release

For more information contact Corey Safran, investor Relation, at 609-228-0595, or by email at: corey@vrcorpusa.com

About Victory Resources Corporation

The company’s main focus is on the Reforma property located at the common boundary of Sinaloa and Chihuahua States in west central Mexico. The concessions cover a total area of 7,226 hectares. Victory Resources will earn a 70% undivided interest in the Reforma property as part of an option agreement. Formerly owned by Penoles in Mexico, documentation showed that between the years 1968 to 1980, the Reforma mine processed 1.8 million tonnes grading an average of 91.62 grams per tonne Ag, 1.90 per cent Pb, 7.44 per cent Zn and 0.63 per cent Cu.

The recently optioned Boleo property is situated on the western foothills of the Sierra Madre Occidental mountain range, at the common boundary of the northeastern Mexican States of Sinaloa and Chihuahua and expands the resource potential of Victory with 20,460 hectares of contiguous property. This area is characterized by a northerly prolific mineralized belt hosting the multi-million-tonne porphyry copper and gold deposits of Santo Tomas and Bahuerachi.

The Company has also begun exploration work on the Au-Wen property in British Columbia, Canada. The Au-Wen property is 100 % owned by Victory Resources and is located 30 kilometers southeast of Merritt and 8 kilometers east of the historic Aspen Grove mining camp in south-central British Columbia, Canada. The property is comprised of 91 mineral claims covering an area of 34,200 hectares. The area covered is up to 39 kilometres long and up to 21 kilometres wide.

On behalf of The Board of Directors of Victory Resources Corporation. 

Paul Lee, Director

This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Victory Resources Corp. which may cause actual results, performance or achievements of Victory Resources Corporation to be materially different from the results, performance or expectation implied by these forward looking statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Read More

Pershing Gold Completes Work Commitment on Private Land and Mining Claims

David Goldstein Leave a comment

LAKEWOOD, Colo., July 24, 2012 (GLOBE NEWSWIRE) — Pershing Gold Corporation (OTCBB:PGLC) announces that since acquiring a lease agreement with Newmont USA Ltd. (NYSE:NEM) in April 2012 for private lands and mining claims adjacent to the Relief Canyon Mine, the Company has spent approximately $1.4 million to drill 23 core holes on private lands and to perform geophysical surveys on private lands and mining claims leased from Newmont. These expenditures fulfill Pershing Gold’s 2012 annual work commitment to Newmont. Management believes that this work accomplished two key objectives: 1) to advance the Relief Canyon Mine towards resuming production; and 2) to explore and make new discoveries on Pershing Gold’s landholdings surrounding the Mine. In 2012 Pershing Gold has spent a total of $3.3 million, including the $1.4 spent to fulfill the work commitment, on exploration and development to further these objectives.

Drilling has extended the mineralization to the west of the Southwest Pit. Drilling results for the first 12 holes of the Phase II 2012 drilling program were released earlier this month (See press release dated July 12, 2012); results are pending for the remaining 11 holes. This drilling, and a portion of the Company’s geophysical surveys, were completed on lands subject to the Area of Interest (“AOI”) that were acquired in the transaction closed April 5, 2012 with Victoria Gold Corp. (TSX-V:VIT-V) and Newmont (See press release dated April 13, 2012). Pershing Gold Management expects this drilling effort to increase the resource at the Relief Canyon Mine.

A map featuring Pershing Gold’s land holdings is available at:http://media.globenewswire.com/cache/19459/file/14686.pdf.

Because the expenditures incurred for the Phase II 2012 drilling program and geophysical surveys have satisfied and exceeded the 2012 work commitment under the Newmont lease, Pershing Gold has applied the remaining credit amount towards its 2013 work commitment.

“Exceeding our 2012 work commitment has advanced our progress towards completing our 2013 work commitment,” said Stephen Alfers, Pershing Gold’s Executive Chairman and CEO. “Now that we’ve satisfied the work commitment, our geologic team plans to pursue compelling targets that we have identified on lands controlled by Pershing Gold outside of the Area of Interest.”

Outside of the AOI, Pershing Gold controls a 100% interest in 1,100 acres at the Relief Canyon Mine owned by Pershing Gold’s subsidiary Gold Acquisition Corporation, and 13,500 acres of wholly-owned claims in the Pershing Pass area south of the Relief Canyon Mine.

Geophysical surveys identified several areas on these other lands that may contain buried targets that merit drilling. The Company has drilled one such target at the Pershing Packard Project located near Pershing Gold’s northern property boundary and the border shared in common with neighboring Coeur d’Alene Mines Corporation (NYSE:CDE) and (TSX:CDM). Preliminary examination of the core reveals intervals of mineralized and altered sedimentary and metavolcanic rocks. The Company believes that the alteration and mineralization observed are typical of the styles found in producing mines and known deposits in the Humboldt Range near the Relief Canyon Mine property. Detailed logging of core samples and assay results are pending.

About Pershing Gold Corporation

Pershing Gold Corporation is a new gold exploration and development company focusing on acquiring, exploring, and developing gold deposits in Pershing County and elsewhere in Nevada. The Relief Canyon Mine property in Pershing County is owned by its subsidiary, GAC.

Legal Notice and Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein including the anticipated exploration on Pershing Gold’s Relief Canyon properties, results of drilling, interpretations of exploration results and other geologic information at Relief Canyon, advancement towards production at Relief Canyon, anticipated development of a resource at the Relief Canyon properties and the anticipated increase of that resource based on the results of Phase II drilling, and those preceded by or that include the words “believes,” “expects,” “given,” “targets,” “intends,” “anticipates,” “plans,” “projects,” “forecasts” or similar expressions, 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, inability to obtain external financing to fund planned exploration or maintain property rights, interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for its planned exploration and other activities, 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; risks of junior exploration and pre-production activities; and maintenance of important business relationships. 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 SEC including the Annual Report on Form 10-K for the year ended December 31, 2011 and each subsequently filed Current Report on Form 8-K. The Company assumes no obligation to update any of the information contained or referenced in this press release.

CONTACT: Stephen D. Alfers, Executive Chairman, President and CEO
         Phone Number:  720.974.7248
         Email: Info@pershinggold.com
         www.PershingGold.com

Pershing Gold Corporation Logo

Source: Pershing Gold Corporation

Released July 24, 2012

Read More

Victory Resources Corp. Completes the Transaction for the El Boleo Property

David Goldstein

VANCOUVER, BC – Victory Resources Corp. (the “Company”) is pleased to announce that it has completed the acquisition of the El Boleo property from Minera Copper Canyon S.A. de C.V. (“Minera”) a private Mexican corporation. The transaction will allow the Company to acquire up to a 100% interest in El Boleo which is located adjacent to the historic Reforma Mine, the Santo Tomas Copper-Gold deposit, and in close proximity to the Bahuerachi Copper Deposit.

The Boleo property is comprised of a total of 13,234.65 hectares (spread over four mining concessions), is almost 25 km long in a northerly direction and up to 8.75 km wide. Recent soil and rock chip sampling defined coincident geochemical anomalies of copper, silver and zinc covering an area 1000 m long and 600 m wide.

The plans for an active work program have already begun including mapping and sampling of the known prospective resource areas of El Boleo property. With the closing of this transaction, the company now has option agreements for the El Boleo property and the adjacent Reforma property that combined is 20,460 hectares of contiguous property. “

The completion of the acquisition of the El Boleo property greatly expands the resource potential for the company and, also, of proving a significant resource for an economically viable mine,” said Wally Boguski, president and CEO. “We look forward to the advancement of both the El Boleo and the Reforma properties in Mexico with a near term goal of a resource definition.”

For more information contact Corey Safran, Investor Relations, at 609-228-0595, or by email at corey@vrcorpusa.com.

About Victory Resources Corporation

The company’s main focus is on the Reforma property located at the common boundary of Sinaloa and Chihuahua States in west central Mexico. The concessions cover a total area of 7,226 hectares. Victory Resources will earn a 70% undivided interest in the Reforma property as part of an option agreement. Formerly owned by Penoles in Mexico, documentation showed that between the years 1968 to 1980, the Reforma mine processed 1.8 million tonnes grading an average of 91.62 grams per tonne Ag, 1.90 per cent Pb, 7.44 per cent Zn and 0.63 per cent Cu.

The recently optioned Boleo property is situated on the western foothills of the Sierra Madre Occidental mountain range, at the common boundary of the northeastern Mexican States of Sinaloa and Chihuahua and expands the resource potential of Victory with 20,460 hectares of contiguous property. This area is characterized by a northerly prolific mineralized belt hosting the multi-million-tonne porphyry copper and gold deposits of Santo Tomas and Bahuerachi.

The Company has also begun exploration work on the Au-Wen property in British Columbia, Canada. The Au-Wen property is 100 % owned by Victory Resources and is located 30 kilometers southeast of Merritt and 8 kilometers east of the historic Aspen Grove mining camp in south-central British Columbia, Canada. The property is comprised of 91 mineral claims covering an area of 34,200 hectares. The area covered is up to 39 kilometres long and up to 21 kilometres wide.

On behalf of The Board of Directors of Victory Resources Corporation. 

Paul Lee, Director

This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Victory Resources Corp. which may cause actual results, performance or achievements of Victory Resources Corporation to be materially different from the results, performance or expectation implied by these forward looking statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Source: Victory Resources

Read More

Victory Resources Corp. Completes the Drill Program on the Tailings Pond

David Goldstein

VANCOUVER, BC – Victory Resources Corp. (Symbol VR-TSXV, OTCQX: VRCFF) (the “Company”) is pleased to announce that it has completed the 2nd and final stage of the drill program at the Altamira tailings pond located at the Reforma mine.

The drill program was conducted on two tailings ponds known as the Matanza and the Altamira. The drill program completed on the Matanza tailings pond consisted of 46 drill holes with depths ranging from 2 meters to 10.9 meters for a total of 291 meters. The drill program completed on the Altamira tailings pond consisted of 10 drill holes with depths ranging from 2 meters to 7.5 meters for a total of 38 meters. The company is now preparing a representation bulk sample from each tailings pond to be submitted for mineralogical studies and metallurgical tests to determine the viability of re-processing the material.

Previous production at the Reforma mine involved the recovery mainly by flotation of chalcopyrite, galena and sphalerite. Significant values of Silver (AG) ranging from 10 grams to greater than 250 grams were recovered with the sulphides. Gold was a minor component. Magnetite which comprised a significant portion of the complex ore was not recovered.

“The completion of the drill program at the tailings ponds is an important milestone in determining the near term economic potential.” stated Wally Boguski, President and CEO. “The scenario of an immediately viable resource in the tailings pond could represent an opportunity for the company to access capital for the  current development of the Reforma mine.”

Mr. Ruben Verzosa, P. Eng., a Qualified Person (QP) as defined by NI 43-101 has approved the geological content of this Press Release

For more information contact Corey Safran, Investor Relations, at 609-228-0595, or by email at corey@vrcorpusa.com.

About Victory Resources Corporation

The company’s main focus is on the Reforma property located at the common boundary of Sinaloa and Chihuahua States in west central Mexico. The concessions cover a total area of 7,226 hectares. Victory Resources will earn a 70% undivided interest in the Reforma property as part of an option agreement. Formerly owned by Penoles in Mexico, documentation showed that between the years 1968 to 1980, the Reforma mine processed 1.8 million tonnes grading an average of 91.62 grams per tonne Ag, 1.90 per cent Pb, 7.44 per cent Zn and 0.63 per cent Cu.

The recently optioned Boleo property is situated on the western foothills of the Sierra Madre Occidental mountain range, at the common boundary of the northeastern Mexican States of Sinaloa and Chihuahua and expands the resource potential of Victory with 20,460 hectares of contiguous property. This area is characterized by a northerly prolific mineralized belt hosting the multi-million-tonne porphyry copper and gold deposits of Santo Tomas and Bahuerachi.

The Company has also begun exploration work on the Au-Wen property in British Columbia, Canada. The Au-Wen property is 100 % owned by Victory Resources and is located 30 kilometers southeast of Merritt and 8 kilometers east of the historic Aspen Grove mining camp in south-central British Columbia, Canada. The property is comprised of 91 mineral claims covering an area of 34,200 hectares. The area covered is up to 39 kilometres long and up to 21 kilometres wide.

On behalf of The Board of Directors of Victory Resources Corporation.

Paul Lee, Director

This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Victory Resources Corp. which may cause actual results, performance or achievements of Victory Resources Corporation to be materially different from the results, performance or expectation implied by these forward looking statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Source: Victory Resources

Read More

Victory Resources Corp Announces $5 Million Financing Commitment

David Goldstein

VANCOUVER, June 28, 2012 /CNW/ – Victory Resources Corp. (Symbol VR-TSXV, OTCQX:VRCFF) (the “Company”) is pleased to announce that it has entered into an agreement with GEM Global Yield Fund Limited (“GEM”) for a $5.0 million CDN financing commitment. Funds raised through this facility will be used for the ongoing drill program and the subsequent engineering work to bring the Reforma mine to feasibility. Funds will also be used for the development of the Company’s recently optioned Boleo property in Mexico, the Toni property located near Merritt, B.C., as well as general working capital.

Victory Resources Corp. will control the timing and maximum amount of any private placement under this agreement, and has the right, not the obligation, to drawdown on available funds. As part of the financing commitment, the Company has agreed to issue 5 million warrants to GEM in conjunction with each private placement. The warrants will be exercisable for a period of three years from the closing of each private placement at an exercise price of $0.72 CDN per share.

“We are very excited to have entered into this agreement with a world class investment group like GEM. The $5 million facility will assure that our company has access to capital beyond our current drill program,” said Wally Boguski, president and CEO. “We look forward to the results of our ongoing drill program on the Reforma mine as well as the results from the drill program on the tailings pond from the historic Reforma mine operations.”

About GEM

Global Emerging Markets Limited, www.gemny.com, was founded in 1991. GEM is a $3.4b investment group having completed 305 transactions in 65 countries. The firm is an alternative investment group that manages a diverse set of investment vehicles across the world. GEM’s funds include: CITIC/GEM Fund; VC Bank/GEM Mena Fund*; Kinderhook; GEM Global Yield Fund; GEM India Advisors, and GEM Brazil PE Fund.

*GEM exited both its LP and GP stakes in Q1 2010.

For more information contact Corey Safran, Investor Relations, at 609-228-0595, or by email at corey@vrcorpusa.com.

About Victory Resources Corporation

The company’s main focus is on the Reforma property located at the common boundary of Sinaloa and Chihuahua States in west central Mexico. The concessions cover a total area of 7,226 hectares. Victory Resources will earn a 70% undivided interest in the Reforma property as part of an option agreement. Formerly owned by Penoles in Mexico, documentation showed that between the years 1968 to 1980, the Reforma mine processed 1.8 million tonnes grading an average of 91.62 grams per tonne Ag, 1.90 per cent Pb, 7.44 per cent Zn and 0.63 per cent Cu.

The recently optioned Boleo property is situated on the western foothills of the Sierra Madre Occidental mountain range, at the common boundary of the northeastern Mexican States of Sinaloa and Chihuahua and expands the resource potential of Victory with 20,460 hectares of contiguous property. This area is characterized by a northerly prolific mineralized belt hosting the multi-million-tonne porphyry copper and gold deposits of Santo Tomas and Bahuerachi.

The Company has also begun exploration work on the Au-Wen property in British Columbia, Canada. The Au-Wen property is 100 % owned by Victory Resources and is located 30 kilometers southeast of Merritt and 8 kilometers east of the historic Aspen Grove mining camp in south-central British Columbia, Canada. The property is comprised of 91 mineral claims covering an area of 34,200 hectares. The area covered is up to 39 kilometres long and up to 21 kilometres wide.

On behalf of The Board of Directors of Victory Resources Corporation.

Paul Lee, Director

This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Victory Resources Corp. which may cause actual results, performance or achievements of Victory Resources Corporation to be materially different from the results, performance or expectation implied by these forward looking statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Source: Victory Resources

Read More

Pershing Gold Corporation Completes Private Placement With Coeur d’Alene Mines Corporation

David Goldstein Leave a comment

LAKEWOOD, Colo., June 20, 2012 (GLOBE NEWSWIRE) — Pershing Gold Corporation (OTCBB:PGLC) is pleased to announce that Coeur d’Alene Mines Corporation (NYSE:CDE), (TSX:CDM) (“Coeur”) has purchased 10,937,500 shares of Pershing Gold Corporation Common Stock in a private placement priced at $0.32 per share. Dr. Phillip Frost, an existing shareholder of Pershing Gold, joined Coeur in this private placement through Frost Gamma Investment Trust (“FGIT”), purchasing 1,562,500 shares of Pershing Common Stock under substantially the same terms and conditions as Coeur. Coeur and FGIT will have the right to participate in future financings to maintain their respective ownership interests. Gross proceeds of the private placement totaled $4.0 million.

Stephen Alfers, Pershing Gold’s Executive Chairman and CEO, noted that Pershing Gold’s Relief Canyon properties include the Pershing Packard exploration project near Coeur’s Nevada Packard Mine, and said, “As the largest U.S.-based primary silver producer and a growing gold producer, we are very pleased that Coeur has chosen to make this significant investment in Pershing Gold. We plan to use the proceeds to continue our exploration and development efforts at our Relief Canyon properties, including the Pershing Packard exploration project, and for general corporate purposes.”

Pershing Gold’s Pershing Packard exploration project is located along the northern edge of its Relief Canyon land holdings and about one mile south of Coeur’s Nevada Packard Mine. Pershing Gold has developed exploration targets on the Pershing Packard property based on geophysical surveys across the broad pediment area in the vicinity of Relief Canyon.

A map showing the location of Pershing Gold’s Pershing Packard exploration project is available athttp://media.globenewswire.com/cache/19459/file/14272.pdf.

Pershing Gold’s entire land package covers over 24,000 acres of private lands and unpatented mining claims. The Company controls the Relief Canyon Mine property as well as the lands surrounding the mine. It also owns mining claims with untested mineral targets in the Pershing Pass area to the south of the Relief Canyon Mine.

About Pershing Gold Corporation

Pershing Gold Corporation is a new gold exploration and development company focusing on acquiring, exploring, and developing gold deposits in Pershing County and elsewhere in Nevada. The Relief Canyon Mine property in Pershing County is owned by Gold Acquisition Corp., the Company’s wholly owned subsidiary.

Legal Notice and Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein including the anticipated exploration on the Pershing Packard project, interpretations of geophysical surveys, exploration results and other geologic information and those preceded by or that include the words “believes,” “expects,” “given,” “targets,” “intends,” “anticipates,” “plans,” “projects,” “forecasts” or similar expressions, 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, inability to obtain external financing to fund planned exploration or maintain property rights, reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for its planned exploration and other activities, 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; risks of junior exploration and pre-production activities; and maintenance of important business relationships. 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 SEC including the Annual Report on Form 10-K for the year ended December 31, 2011 and each subsequently filed Current Report on Form 8-K. The Company assumes no obligation to update any of the information contained or referenced in this press release.

CONTACT: Stephen D. Alfers, Executive Chairman, President and CEO
         Phone Number:  720.974.7248
         Email: Info@pershinggold.com
         www.PershingGold.com

Pershing Gold Corporation Logo

Source: Pershing Gold Corporation

Released June 20, 2012

Read More

Pershing Gold Announces Divestiture of Uranium Properties to American Strategic Minerals Corporation

David Goldstein

LAKEWOOD, Colo., June 13, 2012 (GLOBE NEWSWIRE) — Pershing Gold Corporation (OTCBB:PGLC) (“Pershing”) is pleased to announce the sale to American Strategic Minerals Corporation (OTCBB:ASMC) (“Amicor”) of 100% of its interest in Continental Resources Acquisition Sub, Inc., Pershing’s wholly-owned subsidiary holding all of its interests in uranium exploration properties.

In January 2012 Pershing and Amicor entered into an Option Agreement under which Amicor acquired the option to purchase Pershing’s uranium properties. As consideration for the option, Pershing received a $1,000,000.00 non- interest-bearing promissory note, ($930,000.00 of which has been repaid), and 10 million shares of Amicor common stock, of which Pershing has sold 820,000. Amicor exercised its option to acquire the uranium properties and paid the $10.00 exercise price. With the completion of this transaction on June 11, 2012, Pershing has divested all of its uranium assets. Pershing continues to hold 9,180,000 shares in Amicor.

Steve Alfers, Executive Chairman and CEO of Pershing Gold, said, “By completing the Amicor transaction, Pershing Gold can now place all of its attention on gold exploration and development in Nevada.”

About Pershing Gold Corporation

Pershing Gold Corporation is a new gold exploration and development company focusing on acquiring, exploring, and developing gold deposits in Pershing County and elsewhere in Nevada. The Relief Canyon Mine property in Pershing County is owned by Gold Acquisition Corp., the Company’s wholly owned subsidiary.

Legal Notice and Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words “believes,” “expects,” “given,” “targets,” “intends,” “anticipates,” “plans,” “projects,” “forecasts” or similar expressions, 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 include statements regarding the Company’s plans to place all of its attention on gold exploration and development in Nevada. 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: whether the Company can continue to raise funds required for exploration and development activities, whether the results of its exploration activities and evaluations will be positive, 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; risks of junior exploration and pre-production activities; and maintenance of important business relationships. 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 SEC including the Annual Report on Form 10-K for the year ended December 31, 2011 and Quarterly Report on Form 10-Q for the quarterly periods ended March 31, 2012 and each subsequently filed Current Report on Form 8-K. The Company assumes no obligation to update any of the information contained or referenced in this press release.

CONTACT: Stephen D. Alfers, Executive Chairman, President and CEO
         Phone Number:  720.974.7248
         Email: Info@pershinggold.com
         www.PershingGold.com

Pershing Gold Corporation Logo

Source: Pershing Gold Corporation

Released June 13, 2012

Read More

Victory Resources Corp. Retains King James Capital Corp

David Goldstein

VANCOUVER, BC – Victory Resources Corp. (Symbol VR-TSXV, OTCQX:VRCFF ) (the “Company”) has retained King James Capital Corp, an Investor Relations and Marketing firm as a service provider for the company. King James Capital is based in Vancouver, B.C. and provides services that help improve communication strategies that include digital and social media opportunities, as well as select financial industry lead generation. King James Capital has been engaged for a term of twelve months for marketing services provided with compensation to be $2,000 USD per month (plus HST) plus 100,000 options at $0.45 cents for two years (from date of TSX approval)  of the company that will be vested over the first year of the agreement.

King James Capital is a full-service strategic PR and marketing company. Service offerings include; corporate communications strategy, online marketing and investor awareness campaigns, media monitoring recognized key industry websites and maintaining and building active social media campaign.

The company’s engagement of King James Capital is subject to the acceptance of the TSX Venture Exchange.

For more information contact Corey Safran, Investor Relations, at 609-228-0595, or by email at corey@vrcorpusa.com.

About Victory Resources Corporation

The company’s main focus is on the Reforma property located at the common boundary of Sinaloa and Chihuahua States in west central Mexico. The concessions cover a total area of 7,226 hectares. Victory Resources will earn a 70% undivided interest in the Reforma property as part of an option agreement. Formerly owned by Penoles in Mexico, documentation showed that between the years 1968 to 1980, the Reforma mine processed 1.8 million tonnes grading an average of 91.62 grams per tonne Ag, 1.90 per cent Pb, 7.44 per cent Zn and 0.63 per cent Cu.

The company has also begun exploration work on the Au-Wen property in British Columbia, Canada. The Au-Wen property is 100 % owned by Victory Resources and is located 30 kilometers southeast of Merritt and 8 kilometers east of the historic Aspen Grove mining camp in south-central British Columbia, Canada. The property is comprised of 91 mineral claims covering an area of 34,200 hectares. The area covered is up to 39 kilometres long and up to 21 kilometres wide.

On behalf of The Board of Directors of Victory Resources Corporation.

Paul Lee, Director

This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Victory Resources Corp. which may cause actual results, performance or achievements of Victory Resources Corporation to be materially different from the results, performance or expectation implied by these forward looking statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Source: Victory Resources

Read More

Extension of the Expiry Date to Exercise Warrants

David Goldstein

VANCOUVER, BC – VICTORY RESOURCES CORPORATION (the “Company”) is pleased to announce the extension of the expiry date to exercise warrants that were due to expire today, May 17, 2012. The expiry date will now be June 15, 2012 and the number of warrants that have been extended are 2,890,000 at an exercise price of $0.40 per full warrant.

For more information contact Corey Safran, Investor Relations, at 609-228-0595, or by email at corey@vrcorpusa.com.

About Victory Resources Corporation

The company’s main focus is on the Reforma property located at the common boundary of Sinaloa and Chihuahua States in west central Mexico. The concessions cover a total area of 7,226 hectares. Victory Resources will earn a 70% undivided interest in the Reforma property as part of an option agreement. Formerly owned by Penoles in Mexico, documentation showed that between the years 1968 to 1980, the Reforma mine processed 1.8 million tonnes grading an average of 91.62 grams per tonne Ag, 1.90 per cent Pb, 7.44 per cent Zn and 0.63 per cent Cu.

The company has also begun exploration work on the Au-Wen property in British Columbia, Canada. The Au-Wen property is 100 % owned by Victory Resources and is located 30 kilometers southeast of Merritt and 8 kilometers east of the historic Aspen Grove mining camp in south-central British Columbia, Canada. The property is comprised of 91 mineral claims covering an area of 34,200 hectares. The area covered is up to 39 kilometres long and up to 21 kilometres wide.

On behalf of The Board of Directors of Victory Resources Corporation.

Paul Lee, Director

This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Victory Resources Corp. which may cause actual results, performance or achievements of Victory Resources Corporation to be materially different from the results, performance or expectation implied by these forward looking statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Read More