Pershimco Resources Inc.

Pershimco Resources Inc.

March 14, 2007 14:37 ET

CORRECTION FROM SOURCE: Pershimco Resources Closes a Private Placement

ROUYN-NORANDA, QUEBEC--(CCNMatthews - March 14, 2007) - Please disregard the press release issued earlier today, it should have read like this:

Pershimco Resources Inc. ("Pershimco" or "Corporation") (TSX VENTURE:PRO) announces a non-brokered private placement for Cnd$860,000, once converted in Canadian currency, based on the sale of 1,146,666 units ("Unit"), for a subscription price of Cnd$0.75 per Unit, to several individual investors, none of those being canadian resident.

Each Unit will consist of i) one (1) Common Shares of the Corporation (Common Share) and iii) one (1) common share purchase warrants of the Company (the "Warrants"). Of the subscription price, the Company intends to allocate Cnd$0.749 to the price of the Common Share and Cnd$0.001 to the price of Warrant comprised in each Unit. Each Warrant will entitle the holder thereof, during a period of 24 months from the date of issuance of the Warrant, to purchase, subject to adjustment in certain events one (1) common share at an exercise price of Cnd$1.65 per Common Share, during an initial period of 12 months from the date of issuance of the Warrant, and at an exercise price of Cnd$2.50 per Common Share, during the second period of 12 months thereafter.

A finder's fee of Cnd$86,000, equivalent to 10% of the aggregate subscription sums, will be granted to 3974715 Canada Inc., a corporation controlled by mister Francois Dumas.

The sum obtained will be used to accelerate the implementation of the exploration and development program on the gold and copper properties of Camila and Minela.

Moreover, Pershimco Resources Inc. wishes to inform its shareholders that it received, in the first two months of 2007, Cnd$292,985.00 from the execution of warrants issued in the previous financing.

Furthermore, the Corporation wishes to point out that in its press release dated December 29th , 2006, the non-brokered private placement was for Cnd$790,000, based on the sale of 790 units ("Unit"), for a subscription price of Cnd$1,000 per Unit, instead of Cnd$780,000, based on the sale of 780 units ("Unit").


"Jacques Fortin"


About Pershimco Resources Inc.

Pershimco Resources Inc. is a Canadian-based junior resource and exploration company trading under the symbol PRO on the TSX Venture Exchange. The Company holds 100% of several mining properties including the Courville Gold Project, near the Val-d'Or Gold Mining Camp. The Company has an option to acquire 100% of a number of Canadian and Mexican properties including multiple properties in the State of Chihuahua, Mexico. Pershimco's wholly owned San Miguel Silver-Zinc Property, in the Cusi Mining District is under option to Dia Bras Exploration (TSX-V: DIB).

The Company's strategy is to advance its exploration properties towards metal reserves and eventual production, which also covers the exploration and development of the Courville Gold Project.

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.

The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of the content herein.

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