Document:

Exhibit 4.2

 

	 	FORM OF PLACEMENT AGENT WARRANT	 
	NO. ________	PERSHING GOLD CORPORATION	
        _________ Shares

        _________, 2015

 

WARRANT TO PURCHASE COMMON STOCK

 

VOID ON THE EXPIRATION DATE

 

THIS WARRANT AND THE SECURITIES ISSUABLE
UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S.
SECURITIES ACT”) OR ANY STATE SECURITIES LAWS, AND MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A) TO PERSHING GOLD
CORPORATION (B) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE U.S. SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN
COMPLIANCE WITH REGULATION S UNDER THE U.S. SECURITIES ACT, (D) IN COMPLIANCE WITH THE EXEMPTION FROM REGISTRATION UNDER THE U.S.
SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER, IF AVAILABLE, AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS, OR (E)
IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT OR ANY APPLICABLE STATE LAWS AND REGULATIONS
GOVERNING THE OFFER AND SALE OF SECURITIES, AND, IN THE CASE OF (C) OR (E), ONLY IF THE HOLDER HAS PRIOR TO SUCH TRANSFER FURNISHED
TO THE COMPANY AN OPINION OF COUNSEL OF RECOGNIZED STANDING IN CUSTOMARY FORM AND SUBSTANCE AND IN THE CASE OF (D), THE HOLDER
HAS PROVIDED TO THE COMPANY CUSTOMARY DOCUMENTATION OF THE HOLDER AND ITS BROKER.

 

FOR VALUE RECEIVED, PERSHING GOLD CORPORATION,
a Nevada corporation (the “Company”), hereby agrees to sell upon the terms and on the conditions hereinafter
set forth, but no later than ___________, 2017 (the “Expiration Date”), to _________________, whose address
is _____________________________________, or registered assigns (the “Holder”), under the terms as hereinafter
set forth, from and after the issue date hereof (“Initial Issue Date”) ____________________________________
(_________) fully paid and non-assessable shares of the Company’s common stock, par value $0.0001 per share (the “Warrant
Stock”), at a purchase price of $0.325 per share (the “Warrant Price”), pursuant to this warrant (this
“Warrant”).  The number of shares of Warrant Stock to be so issued and the Warrant Price are subject
to adjustment in certain events as hereinafter set forth.  The term “Common Stock” shall mean, when
used herein, unless the context otherwise requires, the stock and property at the time receivable upon the exercise of this Warrant.

 

This Warrant has been issued pursuant to
the terms of the Placement Agency Agreement between the Company and the Holder dated March 19, 2015 (the “Placement Agency
Agreement”). Capitalized terms used and not otherwise defined herein shall have the meanings set forth in the Placement
Agency Agreement.

 

    	 

    	 

    

 

		1.	Exercise of Warrant.

 

		a.	Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at
any time or times on or after the Initial Issue Date and on or before the Expiration Date by delivery to the Company (or such other
office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder
appearing on the books of the Company) of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto. Within
two (2) “Trading Days” (a day on which the OTCQB or stock exchange on which the Company’s stock is listed
is open for business) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Warrant Price for the
shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank unless
the cashless exercise procedure specified in Section 1(b) below is specified in the applicable Notice of Exercise. Notwithstanding
anything herein to the contrary (although the Holder may surrender the Warrant to, and receive a replacement Warrant from, the
Company), the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all
of the Warrant Stock available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender
this Warrant to the Company for cancellation within two (2) Trading Days of the date the final Notice of Exercise is delivered
to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total amount of Warrant Stock available
hereunder shall have the effect of lowering the outstanding amount of Warrant Stock purchasable hereunder in an amount equal to
the applicable amount of Warrant Stock purchased. The Holder and the Company shall maintain records showing the amount of Warrant
Stock purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise Form within one
(1) Trading Day of delivery of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree
that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Stock hereunder, the amount
of Warrant Stock available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

 

		b.	Cashless Exercise.  This Warrant may be exercised, in whole or in part, at any
time the Warrant Stock is not registered for resale pursuant to an effective registration statement under the U.S. Securities Act,
by means of a “cashless exercise” (in lieu of making a payment upon such exercise) in which the Holder shall be entitled
to receive a certificate for the number of shares of Warrant Stock equal to the quotient obtained by dividing [(A-B) (X)] by (A),
where:

 

(A) = the closing price of the
Warrant Stock on the Trading Day immediately preceding the date on which Holder elects to exercise this Warrant by means of a “cashless
exercise,” as set forth in the applicable Notice of Exercise;

 

(B) = the Warrant Price, as adjusted
hereunder; and

 

(X) = the number of shares of
Warrant Stock that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise
were by means of a cash exercise rather than a cashless exercise.

 

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		c.	Reserved.

 

		d.	No fractional shares of Common Stock will be issuable upon any exercise of this Warrant and the
Holder will not be entitled to any cash payment or compensation in lieu of a fractional share of Common Stock.

 

		e.	Reserved.

 

		f.	Mechanics of Exercise.

 

		(i)	Delivery of Certificates Upon Exercise. Not later than five (5) Trading Days after the latest
of (A) the delivery to the Company of the Notice of Exercise, (B) surrender of this Warrant (if required) and (C) payment of the
aggregate Purchase Price as set forth above (including by cashless exercise, if permitted) (such date, the “Warrant Stock
Delivery Date”), the Company shall deliver, or cause to be delivered, to the exercising Holder a certificate or certificates
(bearing the restrictive legend set forth below) representing the number of shares of Warrant Stock being acquired upon the exercise
of such Warrant; provided however, if the Company is then a participant in the Depository Trust Company (“DTC”)
through its Deposit Withdrawal Agent Commission (“DWAC”) system and the Warrant Shares have been resold by the
Holder pursuant to an effective resale registration statement or an exemption from registration with respect to which an opinion
of counsel reasonably acceptable to the Company confirming such exemption has been delivered, then Certificates for shares purchased
hereunder shall be transmitted by the Company’s transfer agent (the “Transfer Agent”) to the Holder by
crediting the account of the Holder’s prime broker with DTC through its DWAC system. The Company shall use commercially reasonable
efforts to deliver such shares as promptly as practicable but in any event prior to the Warrant Stock Delivery Date. The Warrant
Stock shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to
have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised, with payment to
the Company of the aggregate Purchase Price (or by cashless exercise, if permitted) and all taxes required to be paid by the Holder,
if any, prior to the issuance of such shares, having been paid. The Company understands that a delay in the delivery of the Warrant
Stock after the Warrant Stock Delivery Date could result in economic loss to the Holder. As compensation to the Holder for such
loss, the Company agrees to pay (as liquidated damages and not as a penalty) to the Holder for late issuance of Warrant Stock upon
exercise of this Warrant the proportionate amount of $100 per “Business Day” (any day except any Saturday, any Sunday,
any day which shall be a federal legal holiday in the United States or any day on which banking institutions in the City of New
York are authorized or required by law or other governmental action to close) (increasing to $200 per Business Day after the tenth
Trading Day) commencing after the second Trading Day following the Warrant Stock Delivery Date for each $10,000 of Exercise Price
of Warrant Stock for which this Warrant is exercised which are not timely delivered. The Company shall pay any payments incurred
under this Section in immediately available funds upon demand. Furthermore, in addition to any other remedies which may be available
to the Holder, in the event that the Company fails for any reason to effect delivery of the Warrant Stock by the Warrant Stock
Delivery Date, the Holder may revoke all or part of the relevant Warrant exercise by delivery of a notice to such effect to the
Company, whereupon the Company and the Holder shall each be restored to their respective positions immediately prior to the exercise
of the relevant portion of this Warrant, except that the liquidated damages described above shall be payable through the date notice
of revocation or rescission is given to the Company.

 

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		(ii)	Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part,
the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the certificate
or certificates representing Warrant Stock, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase
the unpurchased Warrant Stock called for by this Warrant, which new Warrant shall in all other respects be identical with this
Warrant.

 

		(iii)	Compensation for Buy-In on Failure to Timely Deliver Certificates Upon Exercise. In addition
to any other rights available to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder a certificate
or the certificates representing the Warrant Stock pursuant to an exercise on or before the Warrant Stock Delivery Date, and if
after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s
brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Stock
which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash
to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any)
for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of shares of Warrant
Stock that the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which
the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the
portion of the Warrant and equivalent number of shares of Warrant Stock for which such exercise was not honored (in which case
such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued
had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common
Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock
with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding
sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating
the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss.
Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including,
without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely
deliver certificates representing shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof;
provided however that the Holder shall not be entitled to recover more than once for the same damages and that the
Company shall not be liable for any consequential, or punitive damages.

 

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		(iv)	Closing of Books. The Company will not close its stockholder books or records in any manner
which prevents the timely exercise of this Warrant, pursuant to the terms hereof.

 

		g.	Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant,
and a Holder shall not have the right to exercise any portion of this Warrant, to the extent that after giving effect to such issuance
after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and
any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially own in
excess of the Beneficial Ownership Limitation (as defined below).  For purposes of the foregoing sentence, the number of shares
of Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock issuable
upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of
Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned
by the Holder or any of its Affiliates and (ii) exercise or conversion of the unexercised or nonconverted portion of any other
securities of the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation on conversion
or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates.  Except
as set forth in the preceding sentence, for purposes of this Section 1(g), beneficial ownership shall be calculated in accordance
with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder
that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act
and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation
contained in this Section 1(g) applies, the determination of whether this Warrant is exercisable (in relation to other securities
owned by the Holder together with any Affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion
of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this
Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion
of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation
to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above
shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
For purposes of this Section 1(g), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number
of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with
the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by
the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.  Upon the written or oral
request of a Holder, the Company shall within two Trading Days confirm orally and in writing to the Holder the number of shares
of Common Stock then outstanding.  In any case, the number of outstanding shares of Common Stock shall be determined after
giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates
since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation”
shall be 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares
of Common Stock issuable upon exercise of this Warrant. The Holder, upon not less than 61 days’ prior notice to the Company,
may increase or decrease the Beneficial Ownership Limitation provisions of this Section 1(g), provided that the Beneficial Ownership
Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to
the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 1(g)
shall continue to apply. Any such increase or decrease will not be effective until the 61st day after such notice is
delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict
conformity with the terms of this Section 1(g) to correct this paragraph (or any portion hereof) which may be defective or inconsistent
with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to
properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this
Warrant. Notwithstanding the foregoing, the Beneficial Ownership Limitation shall not apply if the Holder beneficially owns, as
of the Initial Issue Date, in excess of 9.99% of the number of shares of the Common Stock outstanding immediately after giving
effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant held by such Holder.

 

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		2.	Disposition of Warrant Stock and Warrant.

 

		a.	The Holder hereby acknowledges that this Warrant and any Warrant Stock purchased pursuant hereto
are, as of the date hereof, not registered under the Securities Act of 1933, as amended (the “U.S. Securities Act”)
or under any applicable state securities law; and that the Company’s reliance on certain exemptions under the U.S. Securities
Act and applicable state securities laws is predicated in part on the representations made by the Holder in Article IV of the Subscription
Agreement.

 

		b.	Any certificate representing Common Stock issued upon the exercise of this Warrant will bear a
legend substantially similar to the following:

 

THE SECURITIES REPRESENTED BY
THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY
APPLICABLE STATE SECURITIES LAWS. SUCH SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT PURPOSES AND MAY NOT BE OFFERED FOR SALE, SOLD,
DELIVERED AFTER SALE, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FILED BY THE ISSUER
WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION COVERING SUCH SECURITIES UNDER THE SECURITIES ACT OR AN EXEMPTION FROM REGISTRATION.
AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER MAY BE REQUIRED BY THE ISSUER OR THE TRANSFER AGENT.

 

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In addition, so long as the foregoing
legend may remain on any stock certificate delivered to the Holder, the Company may maintain appropriate “stop transfer”
orders with respect to such certificates and the shares represented thereby on its books and records and with those to whom it
may delegate registrar and transfer functions.  

 

		3.	Reservation of Shares.  The Company hereby agrees that at all times there shall
be reserved for issuance upon the exercise of this Warrant such number of shares of its Common Stock as shall be required for issuance
upon exercise of this Warrant.  The Company further agrees that all shares which may be issued upon the exercise of the
rights represented by this Warrant will be duly authorized and will, upon issuance and against payment of the exercise price, be
validly issued, fully paid and non-assessable, free from all taxes, liens, charges and preemptive rights with respect to the issuance
thereof, other than taxes, if any, in respect of any transfer occurring contemporaneously with such issuance and other than transfer
restrictions imposed by federal, state or other applicable securities laws.

 

		4.	Exchange, Transfer or Assignment of Warrant.  Subject to compliance with any applicable
securities laws, this Warrant is exchangeable, without expense, at the option of the Holder, upon presentation and surrender hereof
to the Company or at the office of its stock transfer agent, if any, for other Warrants of different denominations, entitling the
Holder or Holders thereof to purchase in the aggregate the same number of shares of Common Stock purchasable hereunder.  Upon
surrender of this Warrant to the Company or at the office of its stock transfer agent, if any, with the Assignment Form annexed
hereto duly executed and funds sufficient to pay any transfer tax, the Company shall, without charge, execute and deliver a new
Warrant in the name of the assignee named in such instrument of assignment and this Warrant shall promptly be canceled.

 

		5.	Capital Adjustments.  This Warrant is subject to the following further provisions:

 

		a.	Subdivision or Combination of Shares.  If the Company at any time while this Warrant
remains outstanding and unexpired shall subdivide or combine its Common Stock, the number of shares of Warrant Stock purchasable
upon exercise of this Warrant and the Warrant Price shall be proportionately adjusted.  Any adjustment under this Section
5(a) shall become effective at the close of business on the date the subdivision or combination becomes effective or, if earlier,
the record date with respect to the subdivision or combination.

 

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		b.	Stock Dividends and Distributions.  If the Company at any time while this Warrant
is outstanding and unexpired shall issue or pay the holders of its Common Stock, or take a record of the holders of its Common
Stock for the purpose of entitling them to receive, a dividend payable in, or other distribution of, Common Stock, then (i) the
Warrant Price shall be adjusted in accordance with Section 5(e) and (ii) the number of shares of Warrant Stock purchasable upon
exercise of this Warrant shall be adjusted to the number of shares of Common Stock that the Holder would have owned immediately
following such action had this Warrant been exercised immediately prior thereto.

 

		c.	Stock and Rights Offering to Stockholders.  If the Company shall at any time while
this Warrant is outstanding distribute to all holders of its Common Stock any shares of capital stock of the Company (other than
Common Stock) or evidences of its indebtedness or assets (excluding cash dividends or distributions) or rights or warrants to subscribe
for or purchase any of its securities (excluding those referred to in the immediately preceding paragraph), or securities convertible
or exchangeable into Common Stock (any of the foregoing, the “Securities”), then in each such case, the Company
shall without regard to any Beneficial Ownership Limitation reserve shares or other units of such Securities for distribution to
the Holder upon exercise of this Warrant so that, in addition to the shares of the Common Stock to which such Holder is entitled,
such Holder will receive upon such exercise the amount and kind of such Securities which such Holder would have received if the
Holder had, immediately prior to the record date for the distribution of the Securities, exercised this Warrant.

 

		d.	Organic Change.  Any recapitalization, reorganization, reclassification, consolidation,
merger, sale of all or substantially all of the Company’s assets to another person or entity or other transaction that is
effected in such a way that holders of Common Stock are entitled to receive (either directly or upon subsequent liquidation) stock,
securities or assets with respect to or in exchange for Common Stock is referred to herein as an “Organic Change.”

 

		(i)	In connection with any (x) bona fide sale of all or substantially all of the Company’s assets
to an acquiring person or entity or (y) other Organic Change involving an arm’s length third party or parties following which
the Company is not the surviving entity and as a result of which the then current stockholders of the Company will not, directly
or indirectly own 50% or more of the surviving entity, the Company shall elect in its sole discretion: (A) to require that the
Holder exercise this Warrant prior to the consummation of such Organic Change, and if not so exercised, that this Warrant shall
terminate upon consummation of such Organic Change, or (B) to secure from the person or entity purchasing such assets or the successor
resulting from such Organic Change (in each case, the “Acquiring Entity”) a written agreement (in form and substance
reasonably satisfactory to the Holder) to deliver to the Holder, in exchange for this Warrant, a warrant of the Acquiring Entity
(the “Replacement Warrant”) evidenced by a written instrument substantially similar in form and substance to
this Warrant and reasonably satisfactory to the Holder reflecting the adjustments required so as to preserve the value of the Warrant
applicable at the Closing of the transaction, by the terms of the Replacement Warrant.  The Replacement Warrant shall
be exercisable for such number of shares of common stock or other securities of the Acquiring Entity as the Holder would have had
the right to receive upon such Organic Change by a holder of the number of shares of Warrant Stock that such Holder would have
been entitled to receive upon exercise of this Warrant had this Warrant been exercised immediately prior to the effective date
of such Organic Change without regard to any Beneficial Ownership Limitation.  The Company shall give the Holder written
notice of such Organic Change at least twenty (20) days prior to the closing and consummation of such Organic Change (and shall
give notice of record date pursuant to Section 6(a)).

 

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		(ii)	Prior to the consummation of any Organic Change unless not required as contemplated in subsection
(i) above, the Company shall make appropriate provision (in form and substance reasonably satisfactory to the Holder) to ensure
that the Holder will thereafter have the right to acquire and receive in lieu of or in addition to (as the case may be) the shares
of Common Stock immediately theretofore acquirable and receivable upon the exercise of this Warrant, such shares of stock, securities
or assets that would have been issued or payable in such Organic Change with respect to or in exchange for the number of shares
of Common Stock that would have been acquirable and receivable upon the exercise of this Warrant as of the date of such Organic
Change without regard to any Beneficial Ownership Limitation.

 

		e.	Warrant Price Adjustment.  Except as otherwise provided herein, whenever the number
of shares of Warrant Stock purchasable upon exercise of this Warrant is adjusted, as herein provided, the Warrant Price payable
upon the exercise of this Warrant shall be adjusted to that price determined by multiplying the Warrant Price immediately prior
to such adjustment by a fraction (i) the numerator of which shall be the number of shares of Warrant Stock purchasable upon exercise
of this Warrant immediately prior to such adjustment, and (ii) the denominator of which shall be the number of shares of Warrant
Stock purchasable upon exercise of this Warrant immediately thereafter.

 

		f.	Par Value.  Notwithstanding anything to the contrary contained in Section 5, if,
as a result of an adjustment pursuant to Section 5, the par value per share of Common Stock would be greater than the Warrant Price,
then the Warrant Price shall be an amount equal to the par value per share of the Common Stock but the number of shares the holder
of this Warrant shall be entitled to purchase shall be such greater number of shares of Common Stock as would have resulted from
the Warrant Price that, absent such limitation, would have been in effect pursuant to this Section 5.

 

		g.	Certain Shares Excluded. The number of shares of Common Stock outstanding at any given time
for purposes of the adjustments set forth in this Section 5 shall exclude any shares then directly or indirectly held in the treasury
of the Company.

 

		h.	Deferral and Cumulation of De Minimis Adjustments.  The Company shall not be required
to make any adjustment pursuant to this Section 5 if the amount of such adjustment would be less than one percent (1%) of the Warrant
Price in effect immediately before the event that would otherwise have given rise to such adjustment.  In such case,
however, any adjustment that would otherwise have been required to be made shall be made at the time of and together with the next
subsequent adjustment which, together with any adjustment or adjustments so carried forward, shall amount to not less than one
percent (1%) of the Warrant Price in effect immediately before the event giving rise to such next subsequent adjustment.

 

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		i.	Duration of Adjustment.  Following each computation or readjustment as provided
in this Section 5, the new adjusted Warrant Price and number of shares of Warrant Stock purchasable upon exercise of this Warrant
shall remain in effect until a further computation or readjustment thereof is required.

 

		6.	Notice to Holders.

 

		a.	Notice of Record Date.  In case:

 

		(i)	the Company shall take a record of the holders of its Common Stock (or other stock or securities
at the time receivable upon the exercise of this Warrant) for the purpose of entitling them to receive any dividend (other than
a cash dividend) or other distribution, or any right to subscribe for or purchase any shares of stock of any class or any other
securities, or to receive any other right;

 

		(ii)	of any Organic Change; or

 

		(iii)	of any voluntary dissolution, liquidation or winding-up of the Company;

 

then, and in each such case,
the Company will mail or cause to be mailed to the Holder hereof at the time outstanding a notice specifying, as the case may be,
(i) the date on which a record is to be taken for the purpose of such dividend, distribution or right, and stating the amount and
character of such dividend, distribution or right, or (ii) the date on which such Organic Change, dissolution, liquidation or winding-up
is to take place, and the time, if any, is to be fixed, as of which the holders of record of Common Stock (or such stock or
securities at the time receivable upon the exercise of this Warrant) shall be entitled to exchange their shares of Common Stock
(or such other stock or securities) for securities or other property deliverable upon such reorganization, reclassification, consolidation,
merger, conveyance, dissolution or winding-up.  Such notice shall be mailed at least ten (10) days prior to the record
date therein specified, or if no record date shall have been specified therein, at least ten (10) days prior to such specified
date, provided, however, failure to provide any such notice shall not affect the validity of such transaction.

 

		b.	Certificate of Adjustment. Whenever any adjustment shall be made pursuant to Section 5 hereof,
the Company shall promptly make a certificate signed by its Chairman, Chief Executive Officer, President, Vice President, Chief
Financial Officer or Treasurer, setting forth in reasonable detail the event requiring the adjustment, the amount of the adjustment,
the method by which such adjustment was calculated and the Warrant Price and number of shares of Warrant Stock purchasable
upon exercise of this Warrant after giving effect to such adjustment, and shall promptly cause copies of such certificates to be
mailed (by first class mail, postage prepaid) to the Holder of this Warrant.

 

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		7.	General Restrictions. The registered Holder of this Warrant agrees by his, her or its acceptance
hereof, that such Holder will not: (a) sell, transfer, assign, pledge or  hypothecate this Warrant for a period of 180 calendar
days following the Initial Issue Date to anyone other than: (i) Noble Financial Capital Markets (“Noble”),
or (ii) a bona fide officer or partner of Noble in accordance with FINRA Conduct Rule 5110(g)(1), or (b) cause this Warrant or
the securities issuable hereunder to be the subject of any hedging, short sale, derivative, put or call transaction that would
result in the effective economic disposition of this Warrant or the securities hereunder, except as provided for in FINRA Rule
5110(g)(2). On and after 180 calendar days following the Initial Issue Date, transfers to others may be made subject to compliance
with or exemptions from applicable securities laws. In order to make any permitted assignment, the Holder must deliver to the Company
the Assignment Form attached hereto (the “Notice of Assignment”) duly executed and completed, together with the Warrant
and payment of all transfer taxes, if any, payable in connection therewith. The Company shall within five Business Days transfer
this Warrant on the books of the Company and shall execute and deliver a new Warrant or Warrants of like tenor to the appropriate
assignee(s) expressly evidencing the right to purchase the aggregate number of shares of Warrant Stock purchasable hereunder or
such portion of such number as shall be contemplated by any such assignment.

 

		8.	Loss, Theft, Destruction or Mutilation.  If this Warrant is lost, stolen, mutilated
or destroyed, upon receipt by the Company, in the case of loss, theft or destruction, of an indemnity in customary form or, in
the case of mutilation, upon surrender and cancellation of this Warrant, the Company will execute and deliver in lieu thereof,
without expense to the Holder, a new Warrant of like denomination and tenor dated the date hereof.

 

		9.	Warrant Holder Not a Stockholder.  The Holder of this Warrant, as such, shall
not be entitled by reason of this Warrant to any voting or other rights whatsoever as a stockholder of the Company.

 

		10.	Notices. All notices and other communications hereunder shall be in writing and shall be
deemed duly given (a) on the date of delivery if delivered personally, or if by facsimile or email, upon written confirmation
of receipt by facsimile, e-mail or otherwise, (b) on the first business day following the date of dispatch if delivered utilizing
a next-day service by a recognized next-day courier or (c) on the earlier of confirmed receipt or the fifth business day following
the date of mailing if delivered by registered or certified mail, return receipt requested, postage prepaid. All notices hereunder
shall be delivered to the addresses set forth below, or pursuant to such other instructions as may be designated in writing by
the party to receive such notice:

 

    	11

    	 

    

 

		(1)	if to the Company, to:

 

Pershing Gold Corporation

1658 Cole Boulevard

Building 6, Suite 210

Lakewood, CO 80401

Attention: Stephen Alfers

Email: SAlfers@pershinggold.com

Facsimile: 720-974-7249

 

with a copy (which shall not
constitute notice) to:

 

Davis Graham & Stubbs LLP

1550 17th Street, Suite 500

Denver, Colorado 80202

Attention: Deborah J. Friedman

Email: Deborah.friedman@dgslaw.com

Facsimile: 303-893-1379

 

		(2)	if to Holder to the address, email and facsimile number(s), and with such copies as indicated in
the warrant register maintained by the Company.

 

		11.	Choice of Law.  This Warrant and all disputes or controversies arising out of
or relating to this Warrant or the transactions contemplated hereby shall be governed by, and construed in accordance with, the
internal laws of the State of Nevada, without regard to the laws of any other jurisdiction that might be applied because of the
conflicts of laws principles of the State of Nevada.

 

		12.	Jurisdiction and Venue.  Each of the parties irrevocably agrees that any legal
action or proceeding arising out of or relating to this Warrant brought by the other party or its successors or assigns shall be
brought and determined in any appropriate Nevada State or federal court, and each of the parties hereby irrevocably submits to
the exclusive jurisdiction of the aforesaid courts for itself and with respect to its property, generally and unconditionally,
with regard to any such action or proceeding arising out of or relating to this Warrant and the transactions contemplated hereby.
Each of the parties agrees not to commence any action, suit or proceeding relating thereto except in the courts described above
in Nevada, other than actions in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any such
court in Nevada as described herein. Each of the parties further agrees that notice as provided herein shall constitute
sufficient service of process and the parties further waive any argument that such service is insufficient. Each of the parties
hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim or otherwise,
in any action or proceeding arising out of or relating to this Warrant or the transactions contemplated hereby, (a) any claim
that it is not personally subject to the jurisdiction of the courts in Nevada as described herein for any reason, (b) that
it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether
through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise)
and (c) that (i) the suit, action or proceeding in any such court is brought in an inconvenient forum, (ii) the
venue of such suit, action or proceeding is improper or (iii) this Warrant, or the subject matter hereof, may not be enforced
in or by such courts.

 

    	12

    	 

    

 

		13.	Amendment and Waiver.  Except as otherwise provided herein, the provisions of
this Warrant and the other Warrants may be amended and the Company may take any action herein prohibited, or omit to perform any
act herein required to be performed by it, only if the Company has obtained the written consent of the Holder.

 

		14.	Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action
or the expiration of any right required or granted herein shall not be a Trading Day, then, such action may be taken or such right
may be exercised on the next succeeding Trading Day.

 

		15.	Non-waiver and Expenses. No course of dealing or any delay or failure to exercise any right
hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers
or remedies. Without limiting any other provision of this Warrant or the Subscription Agreement, if the Company willfully and knowingly
fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay
to the Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’
fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise
enforcing any of its rights, powers or remedies hereunder.

 

		16.	Limitation of Liability. No provision hereof, in the absence of any affirmative action by
the Holder to exercise this Warrant to purchase Warrant Stock, and no enumeration herein of the rights or privileges of the Holder,
shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether
such liability is asserted by the Company or by creditors of the Company.

 

		17.	Remedies. The Holder, in addition to being entitled to exercise all rights granted by law,
including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that
monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this
Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would
be adequate.

 

		18.	Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights
and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the
Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of
any Holder from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Stock.

 

		19.	Severability. Wherever possible, each provision of this Warrant shall be interpreted in
such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid
under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating
the remainder of such provisions or the remaining provisions of this Warrant.

 

    	13

    	 

    

 

		20.	Warrant Register. The Company shall register this Warrant, upon records to be maintained
by the Company for that purpose (the “Warrant Register”), in the name of the record Holder hereof from time
to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any
exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

 

[signature page follows]

 

    	14

    	 

    

 

IN WITNESS WHEREOF, the Company has duly
caused this Warrant to be signed on its behalf, in its corporate name and by its duly authorized officers, as of the date first
written above.

 

	 	PERSHING GOLD CORPORATION
	 	 
	 	By:	 
	 	Name:  Eric Alexander
	 	Title:   Vice President of Finance and Controller

 

[Signature Page – Warrant]Exhibit 10.1

 

FORM OF SUBSCRIPTION AGREEMENT

 

PERSHING GOLD CORPORATION

 

Pershing Gold Corporation

1658 Cole Boulevard

Building 6, Suite 200

Lakewood, Colorado 80401

Attn: Stephen Alfers, President & CEO

 

Ladies and Gentlemen:

 

1.          Subscription.
The undersigned (the “Purchaser”) will purchase __________ Units (the “Units”) at a price of $0.325 per
Unit. Each Unit consists of one (1) share of the Company’s Common Stock and one (1) twenty-four (24) month Warrant
to purchase 0.40 of a share of Common Stock, with each whole warrant having an exercise price of $0.44 per share, subject to adjustment
in certain circumstances. The Units are being offered (the “Offering”) by the Company pursuant to the offering terms
set forth in the Company's Amended and Restated Confidential Private Placement Memorandum, dated March 9, 2015, as the same may
be amended and/or supplemented, from time to time (collectively, the “PPM”). Certain capitalized terms used, but not
otherwise defined in this Agreement will have the respective meanings provided in the PPM.

 

The Units will be offered
for sale until the earlier of (i) the date upon which subscriptions for the Maximum Offering have been accepted, (ii) April 21,
2015 (subject to the right of the Company to extend the offering for an additional 30 days without further notice to investors)
or (iii) the date upon which the Company and the Placement Agent elect to terminate the Offering (the “Termination Date”).

 

The Company may hold
one or more closings (each, a “Closing”) with respect to purchases of Units in the offering at such times as the Company
shall elect following the receipt of accepted subscriptions for U.S. $1,000,000 in the aggregate (the "Minimum Offering").
The last Closing of the Offering, occurring on or prior to the Termination Date, is referred to as the “Final Closing”.
Any subscription documents or funds received after the Final Closing will be returned without interest or deduction. In the event
that a Closing of the Purchaser's subscription does not occur prior to the Termination Date, all amounts paid by the Purchaser
shall be returned to the Purchaser without interest or deduction.

 

The minimum investment for any subscriber
under the Offering is US$32,500 (the "Minimum Investment). However, subscriptions for investment below the Minimum Investment
may be accepted at the discretion of the Company. There is no maximum investment for individual investors, although the maximum
aggregate proceeds from the Offering may not exceed $15,000,000 (the “Maximum Offering”) provided that the Company
may in its discretion increase the amount of maximum aggregate proceeds of the Offering up to $30,000,000 (the “Increased
Maximum Offering”). The Company reserves the right (but is not obligated) to allow its employees, agents, officers, directors
and affiliates purchase Units in the Offering, and all such purchases will be counted towards the Maximum Offering.

 

    	- 1 -

    	 

    

 

The terms of the Offering are more completely
described in the PPM, whose terms are incorporated herein in their entirety.

 

2.          Payment.
The Purchaser will immediately make a wire transfer payment to the Escrow Agent pursuant to the wire instructions provided on the
signature page below, in the full amount of the purchase price of the Units being subscribed for. Together with the wire transfer
of the full purchase price, the Purchaser is delivering a completed and executed Signature Page to this Subscription Agreement,
along with a completed and executed Accredited Investor Certification, which is annexed hereto. By executing this Subscription
Agreement, the Purchaser represents and warrants that it (i) has read and understood the PPM, (ii) has executed the Registration
Rights Agreement (attached as an exhibit to the PPM), and (iii) agreed to the terms of the Warrant (also attached as an exhibit
to the PPM) (this Subscription Agreement, the Registration Rights Agreement and the Warrant, collectively, the “Transaction
Documents”), and will be treated for all purposes as if it did review, approve and execute, if required, each such Transaction
Document, even though the Purchaser may not have physically signed the signature pages to such documents.

 

3.          Deposit
of Funds. All payments made as provided in Section 2 hereof will be deposited by the Escrow Agent in a non-interest bearing
escrow account (the “Escrow Account”).

 

4.          Acceptance
of Subscription. The Purchaser understands and agrees that the Company, in its sole discretion, reserves the right to accept
this or any other subscription for the Units, in whole or in part, notwithstanding prior receipt by the Purchaser of notice of
acceptance of this or any other subscription. The Company will have
no obligation hereunder until the Company returns to the Purchaser an executed copy of this Subscription Agreement.
If the Purchaser’s subscription is rejected in whole or in part (at the sole discretion of the Company) or the Offering is
terminated prior to the Closing on the Purchaser’s Units, funds received from the Purchaser and not applied to the purchase
of Units will be returned without interest, penalty, expense or deduction, and this Subscription Agreement will thereafter be of
further force or effect only to the extent such subscription was accepted. The Purchaser may revoke its subscription and obtain
a return of the subscription amount paid to the Escrow Account at any time before the date of the Initial Closing by a writing
delivered to the Placement Agent and the Company. The Purchaser may not revoke this subscription or obtain a return of the subscription
amount paid to the Escrow Agent on or after the date of the Initial Closing. Any subscription received after the Initial Closing
but prior to the Termination Date shall be irrevocable.

 

5.          Representations
and Warranties of the Purchaser. The Purchaser hereby acknowledges, represents, warrants, and agrees as follows:

 

(a)          None
of the Securities has been registered under the United States Securities Act of 1933, as amended (the “Securities Act”),
or any applicable state securities laws. The Purchaser understands that the offering and sale of the Securities is intended to
be exempt from the registration requirements of the Securities Act, by virtue of Section 4(a)(2) thereof and Rule 506 of Regulation
D promulgated thereunder, based, in part, upon the representations, warranties and agreements of the Purchaser contained in this
Subscription Agreement. The Purchaser agrees to supply all requested documents and information to ensure compliance as may be requested
by the Company or the Placement Agent;

 

    	- 2 -

    	 

    

 

(b)          Prior
to the execution of this Subscription Agreement, the Purchaser and the Purchaser’s attorney, accountant, purchaser representative
and/or tax advisor, if any (collectively, “Advisors”), received and carefully reviewed the PPM, this Subscription Agreement,
and each of the Transaction Documents, and all other documents requested by the Purchaser or its Advisors, and understood the information
contained therein;

 

(c)          Neither
the United States Securities and Exchange Commission (the “Commission”) nor any state securities commission has approved
or disapproved of the Securities or passed upon or endorsed the merits of the Offering or confirmed the accuracy or determined
the adequacy of the PPM. The PPM has not been reviewed by any Federal, state or other regulatory authority. No representation to
the contrary has been made to the Purchaser, and any such representation could be a criminal offense;

 

(d)          All
documents, records, and books pertaining to the investment in the Securities including, but not limited to, all information regarding
the Company, requested by the Purchaser and its Advisors, were made available for inspection and review;

 

(e)          The
Purchaser and its Advisors have had a reasonable opportunity to ask questions of and receive answers from the Company’s officers
and any other persons authorized by the Company to answer such questions, concerning the Offering, the Securities, the Transaction
Documents and the business, financial condition, results of operations and prospects of the Company, and all such questions have
been answered by the Company to the full satisfaction of the Purchaser and its Advisors;

 

(f)           In
evaluating the suitability of an investment in the Company, the Purchaser has not relied upon any representation or other information
(oral or written) other than those contained in the PPM;

 

(g)          The
Purchaser is unaware of, is in no way relying on, and did not become aware of the offering of the Securities through or as a result
of, any form of general solicitation or general advertising including, without limitation, any article, notice, advertisement or
other communication published in any newspaper, magazine or similar media or broadcast over television, radio or over the Internet,
in connection with the offering and sale of the Securities and is not subscribing for the Securities and did not become aware of
the Offering through or as a result of any seminar or meeting, or any solicitation of a subscription, involving a person not previously
known to the Purchaser in connection with investments in securities generally;

 

(h)          The
Purchaser has taken no action which would give rise to any claim by any person for brokerage commissions, finders’ fees or
the like relating to this Subscription Agreement or the transactions contemplated hereby (other than fees to be paid by the Company
as described in the PPM);

 

    	- 3 -

    	 

    

 

(i)           The
Purchaser, either alone or together with its Advisors has such knowledge and experience in financial, tax, and business matters,
and, in particular, investments in securities, so as to enable it to utilize the information made available to it in connection
with the Offering to evaluate the merits and risks of an investment in the Securities and the Company and to make an informed investment
decision with respect thereto;

 

(j)           The
Purchaser is not relying on the Company, the Placement Agent or any of their respective employees or agents with respect to the
legal, tax, economic and related considerations of an investment in any of the Securities, and as to such matters the Purchaser
has relied on the advice of, or has consulted with, only its own Advisors;

 

(k)          The
Purchaser is acquiring the Securities solely for its own account for investment purposes and not with a view to resale or distribution
thereof, in whole or in part. The Purchaser has no agreement or arrangement, formal or informal, with any person to sell or transfer
all or any part of any of the Securities, and the Purchaser has no plans to enter into any such agreement or arrangement;

 

(l)          The
Purchaser understands and agrees that purchase of the Securities is a high-risk investment and the Purchaser is able to afford
an investment in a speculative venture having the risks and objectives of the Company. The Purchaser knows it must bear the substantial
economic risks of the investment in the Securities indefinitely because none of the Securities may be offered, sold, pledged, hypothecated
or otherwise transferred or disposed of, directly or indirectly, unless subsequently registered under the Securities Act and applicable
state securities laws or an exemption from such registration requirements is available. Legends will be placed on the certificates
representing the Securities to the effect that the Securities have not been registered under the Securities Act or applicable state
securities laws, and appropriate notations thereof will be made in the Company’s books;

 

(m)         The
Purchaser has adequate means of providing for its current financial needs and foreseeable contingencies and has no need for liquidity
from its investment in the Securities for an indefinite period of time;

 

(n)          The
Purchaser is aware that an investment in the Securities involves a number of very significant risks and has carefully read and
considered the Company's periodic filings with the Commission, as well as the matters set forth in the PPM and, in particular,
the matters under the caption “Risk Factors” therein, and understands any of such risk may materially adversely affect
the Company’s operations and future prospects;

 

(o)          At
the time the Purchaser was offered the Securities, it was, and as of the date hereof it is, and on each date on which it exercises
any Warrants, it will be, an “accredited investor” within the meaning of Regulation D, Rule 501(a), promulgated by
the Commission under the Securities Act; the Purchaser has truthfully and accurately completed the Purchaser Questionnaire attached
to this Subscription Agreement and will submit to the Company in writing such further assurances and information of such status
as may be reasonably requested by the Company in order to verify Accredited Investor status under Regulation D, Rule 506;

 

    	- 4 -

    	 

    

 

(p)          The
Purchaser: (i) if a natural person, represents that the Purchaser has reached the age of 21 and has full power and authority to
execute and deliver this Subscription Agreement and all other related agreements or certificates and to carry out the provisions
hereof and thereof; (ii) if a corporation, partnership, or limited liability company, or association, joint stock company, trust,
unincorporated organization or other entity, represents that such entity was not formed for the specific purpose of acquiring the
Securities, such entity is duly organized, validly existing and in good standing under the laws of the state of its organization,
the consummation of the transactions contemplated hereby is authorized by, and will not result in a violation of state law or its
charter or other organizational documents, such entity has full power and authority to execute and deliver this Subscription Agreement
and all other related agreements or certificates and to carry out the provisions hereof and thereof and to purchase and hold the
Securities, the execution and delivery of this Subscription Agreement has been duly authorized by all necessary action, this Subscription
Agreement has been duly executed and delivered on behalf of such entity and is a legal, valid and binding obligation of such entity;
or (iii) if executing this Subscription Agreement in a representative or fiduciary capacity, represents that it has full power
and authority to execute and deliver this Subscription Agreement in such capacity and on behalf of the subscribing individual,
ward, partnership, trust, estate, corporation, or limited liability company or partnership, or other entity for whom the Purchaser
is executing this Subscription Agreement, and such individual, partnership, ward, trust, estate, corporation, or limited liability
company or partnership, or other entity has full right and power to perform pursuant to this Subscription Agreement and make an
investment in the Company, and represents that this Subscription Agreement constitutes a legal, valid and binding obligation of
such entity. The execution and delivery of this Subscription Agreement will not violate or be in conflict with any order, judgment,
injunction, agreement or controlling document to which the Purchaser is a party or by which it is bound;

 

(q)          The
Purchaser hereby acknowledges receipt and careful review of this Agreement, the PPM (including all exhibits thereto), the Registration
Rights Agreement, the Warrant and all other exhibits, annexes and appendices thereto (collectively referred to as the “Offering
Materials”), and has had access to the Company’s Annual Report on Form 10-K and the exhibits thereto for the fiscal
year ended December 31, 2014 (the “Form 10-K”) as well as all subsequent periodic and current reports filed with the
Commission as publicly filed with and available at the website of the Commission which can be accessed at www.sec.gov.

 

(r)          The
Purchaser represents to the Company that any information which the Purchaser has heretofore furnished or is furnishing herewith
to the Company is complete and accurate and may be relied upon by the Company in determining the availability of an exemption or
exclusion from registration under the Securities Act and any state securities laws in connection with the offering of Securities
as described in the PPM;

 

(s)          The
Purchaser has significant prior investment experience, including investment in non-listed and unregistered securities. The Purchaser
has a sufficient net worth to sustain a loss of its entire investment in the Company in the event such a loss should occur. The
Purchaser’s overall commitment to investments which are not readily marketable is not excessive in view of the Purchaser’s
net worth and financial circumstances and the purchase of the Securities will not cause such commitment to become excessive. This
investment is a suitable one for the Purchaser;

 

    	- 5 -

    	 

    

 

(t)           The
Purchaser is satisfied that it has received adequate information with respect to all matters which it or its Advisors, if any,
consider material to its decision to make this investment;

 

(u)          The
Purchaser acknowledges that any and all estimates or forward-looking statements or projections included in the PPM were prepared
by the Company in good faith, but that the attainment of any such projections, estimates or forward-looking statements cannot be
guaranteed, will not be updated by the Company and should not be relied upon;

 

(v)          No
oral or written representations have been made, or oral or written information furnished, to the Purchaser or its Advisors, if
any, in connection with the offering of the Securities other than those contained in the PPM;

 

(w)         Within
five (5) days after receipt of a request from the Company, the Purchaser will provide such information and deliver such documents
as may reasonably be necessary to comply with any and all laws to which the Company or this Offering is subject;

 

(x)          THE
SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE AND ARE BEING OFFERED
AND SOLD IN RELIANCE ON EXEMPTIONS OR EXCLUSIONS FROM THE REGISTRATION REQUIREMENTS OF SAID ACT AND SUCH LAWS. THE SECURITIES ARE
SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, TRANSFERRED OR DISPOSED
OF, DIRECTLY OR INDIRECTLY, EXCEPT AS PERMITTED UNDER SAID ACT AND SUCH LAWS PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. THE
SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE COMMISSION, ANY STATE SECURITIES COMMISSION OR ANY OTHER REGULATORY AUTHORITY,
NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THE
PPM. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL;

 

(y)          In
making an investment decision, the Purchaser has relied on its own examination of Company and the terms of the Offering, including
the merits and risks involved;

 

    	- 6 -

    	 

    

 

(z)          (For
ERISA plans only) The fiduciary of the ERISA plan (the “Plan”) represents that such fiduciary has
been informed of and understands the Company’s investment objectives, policies and strategies, and that the decision to invest
“plan assets” (as such term is defined in ERISA) in the Company is consistent with the provisions of ERISA that require
diversification of plan assets and impose other fiduciary responsibilities. The Purchaser or Plan fiduciary (a) is responsible
for the decision to invest in the Company; (b) is independent of the Company and any of its affiliates; (c) is qualified to make
such investment decision; and (d) in making such decision, the Purchaser or Plan fiduciary has not relied on any advice or recommendation
of the Company or any of its affiliates; and

 

(aa)       The
Purchaser has read in its entirety the PPM and all exhibits and annexes thereto, including, but not limited to, all information
relating to the Company, and the Securities, and understands fully to its full satisfaction all information included in the PPM
including, but not limited to, the Section entitled “Risk Factors”.

 

(bb)       The
Purchaser represents that the Purchaser was contacted regarding the sale of the Securities by the Company or the Placement Agent
(or another person whom the Purchaser believed to be an authorized agent or representative thereof) with whom the Purchaser had
a prior substantial pre-existing relationship.

 

(cc)       The
Purchaser consents to the placement of a legend on any certificate or other document evidencing the Securities and, when issued,
the Warrant Shares, to the effect that such securities have not been registered under the Securities Act or any state securities
or “blue sky” laws and setting forth or referring to the restrictions on transferability and sale applicable thereto
and referenced in this Agreement. The Purchaser is aware that the Company will make a notation in its appropriate records with
respect to the restrictions on the transferability of such Securities. The legend to be placed on each certificate shall be in
form substantially similar to the following:

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE WERE ISSUED PURSUANT TO A MARCH 2015 PRIVATE PLACEMENT AND HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”) OR ANY STATE SECURITIES OR “BLUE SKY LAWS,” AND MAY NOT
BE OFFERED, SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED ABSENT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR COMPLIANCE
WITH RULE 144 PROMULGATED UNDER SUCH ACT, OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL, REASONABLY SATISFACTORY TO
THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.”

 

(dd)       The
Purchaser acknowledges that if he or she is a registered representative of a Financial Industry Regulatory Authority (“FINRA”)
member firm, he or she must give such firm the notice required by the FINRA’s Rules of Fair Practice, receipt of which must
be acknowledged by such firm prior to an investment in the Securities.

 

    	- 7 -

    	 

    

 

(ee)       Reserved.

 

(ff)       The
Purchaser agrees not to issue any public statement with respect to the Offering, the Purchaser’s investment or proposed investment
in the Company or the terms of any agreement or covenant between them and the Company without the Company’s prior written
consent, except such disclosures as may be required under applicable law.

 

(gg)       The
Purchaser acknowledges that the Offering and the information contained in the Offering Materials or otherwise made available to
the Purchaser is confidential and non-public and agrees that the Offering and all information shall be kept in confidence by the
Purchaser and neither used by the Purchaser for the Purchaser’s personal benefit (other than in connection with this subscription)
nor disclosed to any third party for any reason, notwithstanding that a Purchaser’s subscription may not be accepted by the
Company; provided, however, that (a) the Purchaser may disclose such information to its affiliates and advisors who may have a
need for such information in connection with providing advice to the Purchaser with respect to its investment in the Company so
long as such affiliates and advisors have an obligation of confidentiality, and (b) this obligation shall not apply to any such
information that (i) is part of the public knowledge or literature and readily accessible at the date hereof, (ii) becomes part
of the public knowledge or literature and readily accessible by publication (except as a result of a breach of this provision)
or (iii) is received from third parties without an obligation of confidentiality (except third parties who disclose such information
in violation of any confidentiality agreements or obligations, including, without limitation, any subscription or other similar
agreement entered into with the Company).

 

(ii)       The
Purchaser understands that the Securities are “restricted securities” as defined in Rule 144 of the Securities Act
and are therefore subject to restrictions on resale. The Purchaser understands and hereby acknowledges that, except as provided
in the Registration Rights Agreement, the Company is under no obligation to register the Securities under the Securities Act or
any state securities or “blue sky” laws or to assist the Purchaser in obtaining an exemption from various registration
requirements, other than as set forth herein.

 

6.           Intentionally
Omitted.

 

7.           Indemnification.
The Purchaser agrees to indemnify and hold harmless the Company, the Placement Agent, the Escrow Agent and each of their respective
officers, directors, managers, employees, agents, attorneys, control persons and affiliates upon demand from and against all losses,
liabilities, claims, damages, costs, fees and expenses whatsoever (including, but not limited to, any and all expenses incurred
in investigating, preparing or defending against any litigation commenced or threatened) based upon or arising out of any actual
or alleged false acknowledgment, representation or warranty, or misrepresentation or omission to state a material fact, or breach
by the Purchaser of any covenant or agreement made by the Purchaser herein or in any other document delivered in connection with
this Subscription Agreement or any other Transaction Document.

 

    	- 8 -

    	 

    

 

8.           Binding
Effect. This Subscription Agreement will survive the death or disability of the Purchaser and will be binding upon and inure
to the benefit of the parties and their heirs, executors, administrators, successors, legal representatives, and permitted assigns.
If the Purchaser is more than one person, the obligations of the Purchaser hereunder will be joint and several and the agreements,
representations, warranties and acknowledgments herein will be deemed to be made by and be binding upon each such person and such
person’s heirs, executors, administrators, successors, legal representatives and permitted assigns.

 

9.           Modification.
This Subscription Agreement will not be modified or waived except by an instrument in writing signed by the party against whom
any such modification or waiver is sought.

 

10.         Notices.
Any notice or other communication required or permitted to be given hereunder will be in writing and will be mailed by certified
mail, return receipt requested, or delivered by reputable overnight courier such as FedEx against receipt to the party to whom
it is to be given (a) if to the Company, at the address set forth on the signature page below or (b) if to the Purchaser, at the
address set forth on the signature page hereof, and (c) if to the Placement Agent, at the address set forth on the Instructions
page above (or, in either case, to such other address as the party being notified will have furnished in writing in accordance
with the provisions of this Section 10). Any notice or other communication given by certified mail will be deemed given at the
time of certification thereof, except for a notice changing a party’s address which will be deemed given at the time of receipt
thereof. Any notice or other communication given by overnight courier will be deemed given at the time of delivery.

 

11.         Assignability.
This Subscription Agreement and the rights, interests and obligations hereunder are not transferable or assignable by the Purchaser
and the transfer or assignment of any of the Securities will be made only in accordance with all applicable laws.

 

12.         Applicable
Law. This Subscription Agreement will be governed by and construed under the laws of the State of Nevada as applied to agreements
among Nevada residents entered into and to be performed entirely within Nevada. The parties hereto (1) agree that any legal suit,
action or proceeding arising out of or relating to this Subscription Agreement may be instituted in the state or federal courts
sitting in the State of Nevada, (2) waive any objection which the parties may have now or hereafter to the venue of any such suit,
action or proceeding, and (3) irrevocably consent to the jurisdiction of the state and federal courts sitting in the State of Nevada
in any such suit, action or proceeding. Each of the parties hereto further agrees to accept and acknowledge service of any and
all process which may be served in any such suit, action or proceeding in the state or federal courts sitting in Nevada and agrees
that service of process upon it mailed by certified mail to its address will be deemed in every respect effective service of process
upon it, in any such suit, action or proceeding. THE PARTIES HERETO, TO THE EXTENT PERMITTED BY APPLICABLE LAW, WAIVE THEIR RESPECTIVE
RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS SUBSCRIPTION AGREEMENT OR ANY DOCUMENT
OR AGREEMENT CONTEMPLATED HEREBY.

 

    	- 9 -

    	 

    

 

13.         Blue
Sky Qualification. The purchase of Securities pursuant to this Subscription Agreement is expressly conditioned upon the exemption
from qualification of the offer and sale of the Securities from applicable federal and state securities laws.

 

14.         Use
of Pronouns. All pronouns and any variations thereof used herein will be deemed to refer to the masculine, feminine, neuter,
singular or plural as the identity of the person or persons referred to may require.

 

15.         Confidentiality.
The Purchaser acknowledges and agrees that any information or data the Purchaser has acquired from or about the Company not otherwise
properly in the public domain, was received in confidence. The Purchaser agrees not to divulge, communicate or disclose, except
as may be required by law or for the performance of this Subscription Agreement, or use to the detriment of the Company or for
the benefit of any other person or persons, or misuse in any way, any confidential information of the Company, including any trade
or business secrets of the Company and any business materials that are treated by the Company as confidential or proprietary, including,
without limitation, confidential information obtained by or given to the Company about or belonging to third parties.

 

16.         Miscellaneous.

 

(a)          This
Subscription Agreement, together with the other Transaction Documents, constitutes the entire agreement between the Purchaser and
the Company with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings, if
any, relating to the subject matter hereof. The terms and provisions of this Subscription Agreement may be waived, or consent for
the departure therefrom granted, only by a written document executed by the party entitled to the benefits of such terms or provisions.

 

(b)          Each
of the Purchaser’s and the Company’s representations and warranties made in this Subscription Agreement will survive
the execution and delivery hereof and delivery of the Securities.

 

(c)          Each
of the parties hereto will pay its own fees and expenses (including the fees of any attorneys, accountants, appraisers or others
engaged by such party) in connection with this Subscription Agreement and the transactions contemplated hereby whether or not the
transactions contemplated hereby are consummated.

 

(d)          This
Subscription Agreement may be executed in one or more counterparts each of which will be deemed an original, but all of which will
together constitute one and the same instrument.

 

(e)          Each
provision of this Subscription Agreement will be considered separable and, if for any reason any provision or provisions hereof
are determined to be invalid or contrary to applicable law, such invalidity or illegality will not impair the operation of or affect
the remaining portions of this Subscription Agreement.

 

(f)          Paragraph
titles are for descriptive purposes only and will not control or alter the meaning of this Subscription Agreement as set forth
in the text.

 

    	- 10 -

    	 

    

 

17.         Signature
Page. It is hereby agreed by the parties hereto that the execution by the Purchaser of this Subscription Agreement, in the
place set forth below, will be deemed and constitute the agreement by the Purchaser to be bound by all of the terms and conditions
hereof as well as by each of the other Transaction Documents, and will be deemed and constitute the execution by the Purchaser
of all such Transaction Documents without requiring the Purchaser’s separate signature on any of such Transaction Documents.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK]

 

    	- 11 -

    	 

    

 

PERSHING GOLD CORPORATION

 

SIGNATURE PAGE TO

SUBSCRIPTION AGREEMENT

 

Purchaser hereby elects to purchase
a total of ______Unit(s) at a purchase price of $0.325 per Unit (NOTE: to be completed by the Purchaser).

 

Date (NOTE: To be completed by the Purchaser):
__________________, 2015

 

 

 

If the
Purchaser is an INDIVIDUAL, and if purchased as JOINT TENANTS, as TENANTS IN COMMON, or as COMMUNITY PROPERTY:

 

	 	 	 
	Print Name(s)	 	Social Security Number(s)
	 	 	 
	 	 	 
	Signature(s) of Purchaser(s)	 	Signature
	 	 	 
	 	 	 
	Date	 	Address

 

If the
Purchaser is a PARTNERSHIP, CORPORATION, LIMITED LIABILITY COMPANY or TRUST:

 

	 	 	 
	Name of Partnership, Corporation, Limited	 	Federal Taxpayer
	Liability Company or Trust	 	Identification Number

 

	By:	 	 	 
	 	Name:	 	 	State of Organization
	 	Title:	 	 	 

 

	 	 	 
	Date	 	Address

 

AGREED AND ACCEPTED:

 

PERSHING GOLD CORPORATION

 

	By:	 	 	 
	 	Name:	 	 	Date
	 	Title:	 	 	 

 

    	- 12 -

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