Pershimco Resources Inc.
TSX VENTURE : PRO
FRANKFURT : BIZ

Pershimco Resources Inc.

August 06, 2008 11:26 ET

Pershimco: Private Placement

ROUYN NORANDA, QUEBEC--(Marketwire - Aug. 6, 2008) - PERSHIMCO RESOURCES INC. (TSX VENTURE:PRO) (FRANKFURT:BIZ) ("Pershimco" or the "Corporation") is pleased to announce a non brokered private placement for a total of subscriptions between CDN$250,000 and CDN$1,000,000 to several individual investors, for a subscription price of $1,000 per unit, subject to the approval of the TSX Venture Exchange.

Each unit will consist of 3,200 flow-through common shares, 800 non-flow-through common shares and 4,000 non-flow-through common share purchase warrants. Each warrant will entitle the holder thereof, during a period of 24 months from the date of issuance of the warrant, to purchase one common share at an exercise price of $0.35 per common share. Each common shares issued will have a mandatory 12 months holding period.

ON BEHALF OF THE BOARD OF DIRECTORS

Alain Bureau,

President and Chief Executive Officer, Director

About Pershimco Resources Inc.

Pershimco is a Canadian-based resource exploration company which holds strategic properties located in State of Chihuahua, Mexico and in Quebec, Canada. Pershimco's strategy is to advance its mid-stage exploration properties towards NI 43-101 compliant Mineral Resources.

The Company hold a 50% interest in the highly prospective La Bamba and San Miguel Silver properties located in the Cusi Silver Mining District. Pershimco has the option to increase its interest in the project to 70% based on a new agreement signed with its partner Dia Bras. Pershimco also holds 100% of the polymetallic (copper-gold-silver-zinc) Skarn Magistral Project, also located in the State of Chihuahua, Mexico.

The Company holds a 100% interest in the highly prospective Courville Gold Project, located in the Val-d'Or/Malartic Gold Mining Camp in Quebec which has historically produced 25 million ounces of gold. The Company trades on the TSX Venture Exchange under the symbol "PRO".

For further information on Pershimco, visit www.pershimco.ca

The TSX Venture Exchange (TSX-V) does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements reflecting the Company's objectives, estimates, expectations and the impact of acquisitions on the Company's financial performance. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from the Company's projections or expectations.

FORWARD-LOOKING STATEMENTS - This press release contains forward-looking statements reflecting Pershimco objectives, estimates, expectations and the impact of acquisitions on Pershimco's financial performance. These statements are identified by the use of verbs such as "believe", "anticipate", "estimate", and "expect" as well as by the use of future or conditional tenses. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from Pershimco's projections or expectations.

Contact Information

  • Pershimco Resources Inc.
    Alain Bureau, P. Eng.
    President and CEO, Director
    514-357-0498
    www.pershimco.ca