Pershimco Resources Inc.

Pershimco Resources Inc.

February 15, 2011 09:32 ET

Pershimco Appoints Serge Cotes as CFO and Grants Options

ROUYN-NORANDA, QUEBEC--(Marketwire - Feb. 15, 2011) - PERSHIMCO RESOURCES INC. (the "Company" or "Pershimco") (TSX VENTURE:PRO)(FRANKFURT:BIZ) is pleased to announce the nomination of Mr Serge Côtes, as Chief Financial Officer (CFO) of the Company. Mr Serge Cotes will be replacing Mr. Jacques Fortin who was acting interim CFO for the Company. Mr. Fortin will still sit as director on the Board of the Company.

Mr Côtes is an accounting graduate of the Laval University (1994) and since April 1997, he is a member of the Ordre des comptables agréées du Québec. From 1995 to 2000, he worked for PKMG as an auditor of private and public companies. During this period he was heavily involved in various cases of public companies both in public accounting issues, taxation and financial manners. From May 2000 to April 2004, he worked for the Fonds Régional de Solidarité FTQ as an investment councilor where he joined the boards of directors of private corporations while realizing several capital investments both in private and public companies. He also had to put in place an investment policy related to publicly traded mining companies.

In April 2004, he entered the broker firm National Bank Financial where he worked as an investment advisor until October 2008. During this period, he leveraged his knowledge of the securities market as well as the regulatory environment surrounding it. From January 2009 to February 2011, he was employed by the accountant firm Deloitte in Rouyn-Noranda where he worked in the tax department, specializing, amongst other thing, in mining taxation issues. Mr Côtes brings to Pershimco's team a vast experience of the world of securities, of mining taxation issues as well as questions regarding the financing of publicly traded companies.

Pershimco also announces that it has granted 200,000 incentive stock options to Mr Cotes as well as 50,000 incentive stock options to other key employees. The options will expire five years from the date of grant and will allow the holder to purchase one common share of the Company per option granted at an exercise price of $0.45 per share.

About Pershimco Resources Inc.

Pershimco Resources Inc. is a Canadian-based resource and exploration corporation listed on the TSX Venture Exchange (symbol PRO.V) and the Frankfurt Exchange (symbol BIZ). The Company holds several mining properties in Canada and South America including the recently acquired Cerro Quema advanced project in Panama and the Courville Gold Project, in the Val-d'Or Gold Mining Camp. The Company is managed by skilled, reputable people with extensive mining exploration and development experience. The Pershimco Team and our investors are the key to our success.

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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" statements.

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