Pershimco Resources Inc.
TSX VENTURE : PRO
FRANKFURT : BIZ

Pershimco Resources Inc.

September 11, 2014 18:03 ET

Pershimco Appoints Pierre Monet as Vice-President Finance and Chief Financial Officer

ROUYN-NORANDA, QUÉBEC--(Marketwired - Sept. 11, 2014) - Pershimco Resources Inc. (the "Company" or "Pershimco") (TSX VENTURE:PRO)(FRANKFURT:BIZ) is pleased to announce the appointment of Mr. Pierre Monet as Vice-President Finance and Chief Financial Officer of the Company.

Mr. Monet is an experienced manager with 30 years of experience in accounting and financing of private and public corporations. He has occupied different upper management positions including more than 20 years in the resources sector. He was namely President and Chief Executive Officer of Malaga Inc. which had a tungsten mine in Peru, Vice-President Finance, Administration and Treasurer of Iron Ore Company of Canada (IOC) and Vice-President Finance of Produits Forestiers Alliance Inc. He is a member of the CPA and holds a Bachelor of Business Administration degree from Hautes Études Commerciales (HEC).

Mr Monet will now act as Vice-President Finance and remains Chief Financial Officer for the Company. As Pershimco is presently moving towards an important phase of project financing of its Cerro Quema project in Panama, he will contribute to the success of the project with his vast experience, his knowledge of the mining sector and his skills.

ABOUT PERSHIMCO RESOURCES INC.

Pershimco Resources Inc. (TSX VENTURE:PRO)(FRANKFURT:BIZ) is a mineral exploration and development company with a near-term gold oxide production scenario and a copper-gold porphyry target at its 100%-owned Cerro Quema Project in Panama. Cerro Quema's concession boasts paved road access, no indigenous groups and the most favorable climate in the country. Based on the results from a recently released pre-feasibility study, the Company's extraction-permitted gold oxide project has a pre-tax NPV of $165 million US with a pre-tax internal rate of return of 46.8% ($110 million US after tax with an after-tax rate of return of 33.7%), supported by stellar recovery rates (86%) and lowest quartile all-in sustaining cash cost of $631/oz. Led by a skilled management team with a proven track record of building successful operating mining facilities in the Americas, Pershimco's project is scheduled to be in production in 2016. Additionally, the Cerro Quema Project has proven to have significant exploration upside with resource expansion potential in over 12 oxide targets identified along a 17km trend as well as porphyry indicators along a 12km strike length that suggests a copper-gold porphyry system is at depth. With strong shareholder support, Pershimco aims to achieve cash flowing status in the near term to continue uncovering the value of Cerro Quema.

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

Please visit the Company'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.

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