The Pershing County Economic Development and Conservation Act aims to improve land management, foster economic development, and enhance conservation efforts within Pershing County, Nevada. A primary focus is resolving the long-standing "checkerboard" land pattern, which has created management challenges for federal agencies and local entities. The bill authorizes the Secretary of the Interior, in consultation with Pershing County, to sell or exchange specific federal lands within this complex ownership mosaic to consolidate land ownership, simplify management, and support the local tax base. Sales of eligible land will occur through a competitive bidding process at fair market value, with adjoining landowners receiving a first option. Land exchanges will seek to achieve equal value, allowing for cash equalization payments or adjustments in land parcels. Proceeds from these land sales are strategically allocated: 5% to Nevada's general education program, 10% to Pershing County for local budgeting, and the remainder to a special Treasury account for conservation, public access, and improved federal land management. A significant conservation component designates several new wilderness areas in Nevada, adding them to the National Wilderness Preservation System, including the Cain Mountain, Bluewing, Selenite Peak, Mount Limbo, North Sahwave, Grandfathers, and Fencemaker Wildernesses. These areas will be managed by the Secretary of the Interior in accordance with the Wilderness Act, with provisions for continued livestock grazing and allowing military overflights. The bill also permits necessary wildfire, insect, and disease management activities. Notably, the legislation explicitly states that it does not create federal reserved water rights for the wilderness areas, requiring the Secretary to adhere to Nevada state law for any new water rights, and restricts new water resource facilities (except wildlife guzzlers). The State of Nevada retains jurisdiction over fish and wildlife management, and the Secretary can conduct activities to restore populations, including occasional motorized vehicle use. The bill releases portions of several existing Wilderness Study Areas (WSAs) not designated as wilderness from further study, allowing them to be managed under standard land use plans. Finally, it directs the transfer of approximately 10 acres of Bureau of Land Management land into trust for the benefit of the Lovelock Paiute Tribe, to become part of their reservation, though this land is explicitly prohibited from being used for gaming activities.