Pershimco Resources Inc.
TSX VENTURE : PRO
FRANKFURT : BIZ

Pershimco Resources Inc.

April 23, 2012 09:00 ET

John Kapetas Joins Pershimco's Exploration Team

ROUYN-NORANDA, QUEBEC--(Marketwire - April 23, 2012) - PERSHIMCO RESOURCES INC. (the "Corporation" or "Pershimco") (TSX VENTURE:PRO)(FRANKFURT:BIZ) is pleased to announce the nomination of Mr. John Kapetas to the position of Panama Exploration Manager to head Pershimco's exploration efforts on its Cerro Quema project. Mr. Kapetas has extensive knowledge of Panama and is an experienced geologist who has been leading numerous exploration projects to success. His experience ranges from grass roots exploration through to resource/reserve definition and involvement in the completion of feasibility studies leading to production, in addition to project generation and the technical evaluation of new opportunities to identify mineral projects of merit.

Mr. Kapetas completed both his Bachelor of Science degree and Honors degree in geology at the University of Adelaide in Australia and is currently a member of the Australasian Institute of Mining and Metallurgy as well as a member of the Society of Economic Geologists. He has substantial years of experience in the industry and has been involved in international exploration projects in Australia, SE-Asia, Africa and South America. Recently Mr. Kapetas has acted as V.P. Exploration & Resources Development of Petaquilla Copper Ltd. being involved in the transaction leading to the sale of the copper asset to Inmet Mining Ltd. John Kapetas will be acting as a Qualified Person as defined by National Instrument 43-101 for Pershimco's Cerro Quema project.

Some of the key projects Mr. Kapetas has been involved in are:

Petaquilla Copper Project (Petaquilla) In Panama leading to Inmet Mining Ltd.'s take-over in 2008 of all assets of Petaquilla Copper including Petaquilla, Botjia, Valle Grande and Brazo deposits. The project stands today with resources of 30.6B lb's Cu and 8.4M oz's Au.
Mavuzi Uranium Project (Omegacorp) In Africa leading to Denison Mines Corp. take-over of Omegacorp in 2007.
North Mara Gold Project (Placer Dome) In Africa leading to recent gold production of 220,000 oz/yr under African Barrick Gold. The project stands today at 3.5M oz Au reserve.
TokaTindung Gold/Silver Project (Aurora Gold) After building a gold reserve of 1.7M oz Au Eq, the project was sold to Archipelago Resources in 2002 and recently brought into production at 160,000 oz/yr.
Tanami Gold Project (Normandy NFM ) Now being operated by Newmont with recent gold production of 289,000 oz/yr., this mine has reserves + resources of over 4.5M oz Au being operated as open-pit and underground mines.

Pershimco's Board of Directors welcomes Mr. Kapetas and is confident that with his extensive experience, he will make positive contributions to the Corporation and add strength to its senior management team to develop a world-class operation in Panama.

The Corporation's Board of Directors has granted 200,000 incentive stock options to Mr. Kapetas from its capital stock, exercisable for up to 5 years at a price of $1.30 per share. The options granted will vest as per the Corporation's corporate rules and will be subject to applicable regulatory hold periods.

About Pershimco Resources Inc.

Pershimco Resources Inc. is a Canadian-based resources and exploration corporation listed on the TSX Venture Exchange and the Frankfurt Exchange. The Corporation holds several mining properties in Canada and South America, including the extraction permitted Cerro Quema advanced project in Panama and the Courville Gold Project, in the Val-d'Or Gold Mining Camp, being explored in partnership with Osisko Mining Corporation. The Corporation is managed by skilled and reputable people with extensive mining exploration and development experience. The Pershimco Team and its investors are the key to its success.

The Corporation's documents are available on www.sedar.com.

Please visit the Corporation's website at www.pershimco.ca.

Neither the 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 news release. Statements made in this news release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statement.

Contact Information