Pershimco Resources Inc.
TSX VENTURE : PRO
FRANKFURT : BIZ

Pershimco Resources Inc.

November 27, 2007 12:52 ET

New Gold-Silver System Discovered at Las Minitas, Mexico

- Major gold system uncovered during drilling of two historical silver targets: 24.5m grading 3.12 g/t gold and 43.80 g/t silver, including a 1 m section grading 26.07 g/t gold and 273.50 g/t silver - Silver-gold corridor extends for 3 km between Las Minitas and El Negro targets, with a potential length extending to over 10 km covering the remaining 4 of the 6 known targets - Untested potential being the focus of current second exploration program initiated today

CHIHUAHUA, MEXICO--(Marketwire - Nov. 27, 2007) - PERSHIMCO RESOURCES INC. (TSX VENTURE:PRO)(FRANKFURT:BIZ) is pleased to announce that it has received the first batch of assay results from the recently completed 3,000 m / 19 hole diamond drilling program at the Las Minitas Gold-Silver Property in south western Sonora State, Mexico.

Initial drilling focused mostly on validating historical drill assay results and in part expanding the resource potential along 2 of 6 historical targets, the Las Minitas (formerly the South Zone) and El Negro (formerly the NW Zone) mineralization.

To date, the Company has received 1,107 assay results from 10 of 19 drill holes (07-MN-01 to 10). The Las Minitas and El Negro validation drilling, field observations and results to date indicate The presence of a N-NW trending, minimum 100 m wide corridor containing highly oxidized volcanic breccias, NW-SE trending contacts with steep NE or SW dips, individual veins, veinlets and stockworks of quartz-carbonate, manganese staining, and abundant N, NW, E and sub-horizontal fractures, now considered to be the main mineralization corridor at Las Minitas.

The mineralization consists of disseminated and vein-type gold-silver, associated with both the host volcanic rocks and vein systems. Drill hole 07-MN-10 at the El Negro target intersected 3.12 g/t gold and 43.80 g/t silver over 24.5 m, including a 1 m section grading 26.07 g/t gold, 273.50 g/t silver, validating a number of historical assays from the sector, such as 0.89 g/t gold and 29.82 g/t silver over 3.2 m (DDH#69), 1.17 g/t gold and 3.77 g/t silver over 16.1 m (DDH#70), and 1.10 g/t gold and 50.39 g/t silver over 4.2 m (DDH#71) (from Petersen, 1997).

This global higher grade for gold and silver typifies the more disseminated nature of the mineralization at Las Minitas. The mineralization corridor covers a minimum 3 km strike length and 100 m width that includes the El Negro and Las Minitas mineralization, and is believed to extend for at least 10 km on the Las Minitas Project, containing the historic occurrences of Socorro, Aurifero V-1, Aurifero V-2, Aurifero V-3, and on the newly acquired Aurifero V claims, repeated at roughly 750 m spacings.

Pershimco's President & CEO, Mr. Michael Curtis stated " (...) We set out to validate the historical work at Las Minitas (...) the positive gold and silver received at this early stage are setting the stage for an aggressive exploration campaign in the coming weeks. We are set to prove up the full potential of the gold and silver mineralization over the 10+ km length of the mineralized corridor. We already knew that the first 3 km long Las Minitas - El Negro portion of the corridor already hosts significant gold-silver NI-43-101 mineral resources. We are positively surprised to find good silver and gold grades on the outskirts of the zones already known. (...) Based on these results we are deploying an exploration team to the property this Tuesday and initiating the second program that will include substantial core drilling. Pershimco is excited about the potential for both silver and gold over the entire Las Minitas Project ".



Table of significant silver-gold assays from the first batch of
assay results(i) (07-MN-01 to 10):

-----------------------------------------------
DDH # FROM TO INTERVAL AU AG
(m) (m) (m) (g/t) (g/t)
-----------------------------------------------
LAS MINITAS TARGET
-----------------------------------------------
07-MN-01 41.7 43.5 1.8 1.22 1.10
-----------------------------------------------
55.5 61.4 5.9 1.01 0.90
-----------------------------------------------
71.1 71.7 0.6 3.35 1.30
-----------------------------------------------
123.0 124.0 1.0 2.30 0.50
-----------------------------------------------
07-MN-02 82.0 93.8 11.8 2.90 3.70
-----------------------------------------------
INCL. 82.0 83.1 1.1 4.47 4.30
-----------------------------------------------
INCL. 83.1 84.0 0.9 0.18 2.90
-----------------------------------------------
INCL. 84.0 84.9 0.9 0.58 4.10
-----------------------------------------------
INCL. 84.9 86.4 1.5 0.42 2.70
-----------------------------------------------
INCL. 86.4 87.9 1.5 1.04 2.30
-----------------------------------------------
INCL. 87.9 89.4 1.5 1.39 3.10
-----------------------------------------------
INCL. 89.4 90.9 1.5 9.70 4.40
-----------------------------------------------
INCL. 90.9 92.3 1.4 1.14 2.60
-----------------------------------------------
INCL. 92.3 93.8 1.5 5.48 6.70
-----------------------------------------------
98.0 101.0 3.0 3.68 11.40
-----------------------------------------------
INCL. 98.0 99.5 1.5 5.52 13.10
-----------------------------------------------
INCL. 99.5 101.0 1.5 1.83 9.70
-----------------------------------------------
140.0 143.0 3.0 1.86 39.00
-----------------------------------------------
INCL. 140.0 141.5 1.5 2.17 74.50
-----------------------------------------------
INCL. 141.5 143.0 1.5 1.55 3.50
-----------------------------------------------
151.5 159.0 7.5 2.15 3.30
-----------------------------------------------
INCL. 151.5 153.0 1.5 5.88 2.30
-----------------------------------------------
INCL. 153.0 154.5 1.5 0.40 7.80
-----------------------------------------------
INCL. 154.5 156.0 1.5 1.95 2.00
-----------------------------------------------
INCL. 156.0 157.5 1.5 1.42 1.60
-----------------------------------------------
INCL. 157.5 159.0 1.5 1.09 3.00
-----------------------------------------------
07-MN-03 146.0 149.0 3.0 2.94 10.15
-----------------------------------------------
INCL. 146.0 147.5 1.5 2.48 5.50
-----------------------------------------------
INCL. 147.5 149.0 1.5 3.40 14.80
-----------------------------------------------
188.0 192.5 4.5 0.20 22.90
-----------------------------------------------
191.0 192.5 1.5 0.26 34.30
-----------------------------------------------
EL NEGRO TARGET
-----------------------------------------------
07-MN-04 39.5 41.0 1.5 0.49 29.00
-----------------------------------------------
68.6 70.0 1.4 0.86 19.50
-----------------------------------------------
141.9 143.4 1.5 2.35 2.80
-----------------------------------------------
07-MN-05 45.8 47.3 1.5 0.24 12.50
-----------------------------------------------
57.8 59.3 1.5 1.68 41.30
-----------------------------------------------
74.7 76.2 1.5 0.52 18.90
-----------------------------------------------
92.7 94.2 1.5 9.63 2.30
-----------------------------------------------
07-MN-06 84.1 84.8 0.7 0.01 29.20
-----------------------------------------------
102.7 104.6 1.9 1.61 2.40
-----------------------------------------------
151.3 152.5 1.2 0.03 13.80
-----------------------------------------------
07-MN-07 21.4 23.5 2.1 1.46 1.60
-----------------------------------------------
42.2 44.8 2.6 Trace 158.00
-----------------------------------------------
07-MN-08 76.8 78.1 1.3 1.54 2.20
-----------------------------------------------
07-MN-09 47.7 53.9 6.3 2.24 26.20
-----------------------------------------------
61.0 63.4 2.4 3.70 86.30
-----------------------------------------------
63.4 65.3 1.9 2.42 4.20
-----------------------------------------------
65.3 67.1 1.8 0.09 10.00
-----------------------------------------------
71.0 71.8 0.8 1.31 0.80
-----------------------------------------------
72.4 72.8 0.5 1.16 2.90
-----------------------------------------------
07-MN-10 51.7 76.2 24.5 3.12 43.80
-----------------------------------------------
INCL. 51.7 52.5 0.8 1.74 18.00
-----------------------------------------------
INCL. 52.5 53.5 1.0 26.07 273.50
-----------------------------------------------
INCL. 53.5 54.9 1.5 1.41 24.00
-----------------------------------------------
INCL. 54.9 56.3 1.4 0.37 12.80
-----------------------------------------------
INCL. 56.3 58.0 1.7 2.00 13.50
-----------------------------------------------
INCL. 58.0 60.0 2.0 0.60 22.10
-----------------------------------------------
INCL. 60.0 61.2 1.2 9.56 63.60
-----------------------------------------------
INCL. 61.2 62.8 1.6 2.46 22.50
-----------------------------------------------
INCL. 62.8 64.3 1.6 2.88 42.30
-----------------------------------------------
INCL. 64.3 66.5 2.2 1.16 45.30
-----------------------------------------------
INCL. 66.5 67.0 0.5 0.49 12.00
-----------------------------------------------
INCL. 67.0 69.3 2.3 0.50 17.70
-----------------------------------------------
INCL. 69.3 69.8 0.5 0.33 6.00
-----------------------------------------------
INCL. 69.8 70.8 1.0 6.98 189.50
-----------------------------------------------
INCL. 70.8 72.8 2.1 2.31 38.60
-----------------------------------------------
INCL. 72.8 74.6 1.8 3.61 44.90
-----------------------------------------------
INCL. 74.6 76.2 1.7 0.95 9.50
-----------------------------------------------
95.3 96.7 1.4 1.39 3.70
-----------------------------------------------

(i) Assays are still pending for drill holes 07-MN-11 to 19. Sample
preparation was done at the Sonora Sample Preparation Lab S.A. (of
Hermosillo, Mexico) using a jaw crusher (Rhino), crushed to less than
75% at -10 mesh. Some 250 grams were obtained by means of a riffle
splitter and pulverized down to 90% at -150 mesh using a ring
pulverizer. Samples were sent for gold and silver assaying at Techni-
Lab Inc. (of Ste-Germaine-de-Boule, Quebec). Duplicates, standards and
blanks were added to batches of 20 samples for QA/QC purposes. Interval
lengths are based on core lengths. True widths are unknown at this
time.


A total of 6 trenches (each 2 to 3 m deep, 3 to 5 m wide, and 25 m long) intersecting the mineralized corridor above the drilling were also completed at El Negro, and are currently being mapped and sampled at this time. Drill holes 07-MN-11 to 19, where gold-silver assay results are still pending, were centered on the trenches.

Background information on the Las Minitas Au-Ag Project

Pershimco Resources Inc. and Tara Gold Resources Corporation (OTC:TRGD) (FSE: T8N) recently signed a definitive option agreement (refer to news release dated November 12, 2007) allowing Pershimco to earn a 75% direct property interest in the 20.41 km2 Las Minitas Gold-Silver Project. The Las Minitas Project is located in the western foothills of the Sierra Madre Occidental. 250 km SWW of Pershimco's La Bamba and San Miguel properties, and situated near mineral deposits owned by Agnico Eagle, Gammon Lake and Coeur D'Alene. The property is easily accessible year-round via 30 km of secondary roads north from the intersection of Highway #15 connecting Navojoa and Alamos to the village of Las Minitas.

Las Minitas hosts Indicated Mineral Resources of 13.53 million tonnes grading 260 g/t silver and 0.31 g/t gold (102.6 million ounces of silver and 120,500 ounces of gold), as outlined in a technical report completed in September 2006 by M. H. Sandidge, P. Geo., titled "Technical Report, National Instrument (NI) 43-101 Qualifying Property Report, Las Minitas Project, Sonora, Mexico".

The information in this news release has been prepared and reviewed by Mr. Jean Lafleur, P. Geo., Director and Technical Advisor to Pershimco, the Company's Qualified Person under NI 43-101.

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 and under the symbol BIZ on the Frankfurt Stock 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 a number of Mexican properties in the states of Chihuahua and Sonora, Mexico, including 100% of the newly acquired Cu-Zn-Au-Ag skarn Magistral Project and 75% of the Las Minitas Ag-Au project. Pershimco's wholly owned La Bamba and San Miguel properties, in the Cusi Mining District, are under option to Dia Bras Exploration. Pershimco's strategy is to advance its exploration properties towards metal reserves and eventual production. The Company currently has a cash position of C$ 4.5 million, which is sufficient to cover the next exploration phases of work on the Company's Mexican and Canadian properties.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements that could reflect Pershimco's objectives, estimates, expectations and the impact of acquisitions on Pershimco's financial performance. 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.
    Michael Curtis
    President and CEO
    450-793-1915
    www.pershimco.ca
    or
    Paradox Investor Relations
    514-341-0408
    Toll Free within Canada / U.S. at 1-866-460-0408
    514-341-1527 (FAX)
    infoparadox@qc.aira.com