Pershimco Resources Inc.

Pershimco Resources Inc.

August 13, 2013 09:00 ET

Pershimco Buys Back 70% of Cerro Quema NSR

ROUYN-NORANDA, QUÉBEC--(Marketwired - Aug. 13, 2013) - Pershimco Resources Inc. (the "Company" or "Pershimco") (TSX VENTURE:PRO)(FRANKFURT:BIZ) is pleased to inform its shareholders that it has repurchased 70% of all remaining net smelter royalties ("NSR") on the Cerro Quema project from a group of Panamanian entrepreneurs (CEMSA).

This purchase allows Pershimco to increase the net present value ("NPV") of the project, providing a higher return per share and a much stronger financial model. Specifically, Pershimco has repurchased a 1.4% NSR related to future gold and silver production, as well as a 2.45% royalty on copper and all other mineral production from the project's concessions, leaving only a 0.6% NSR on precious metals and 1.05% on other metals remaining privately held.

The Company has agreed to a purchase price of US $2.5M over a period of 18 months, to be paid in instalments as detailed below, bearing a 6% annual interest rate.

Instalment Interest
At signature: $300,000 ---
February 2014: $600,000 $66,000
August 2014: $700,000 $48,000
February 2015: $900,000 $27,000

"We feel that this represents an important investment in this project, particularly as our exploration work, including the promising results of our recent geophysical surveys, continues to increase Cerro Quema's potential. In line with our long term strategy, we are substantially increasing the overall value of the project as well as making the exciting deeper geological potential even more attractive," commented Alain Bureau, President and CEO of Pershimco.


Pershimco Resources Inc. is a Canadian-based resources and exploration company listed on the TSX Venture Exchange and the Frankfurt Exchange. The Company 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 Company is managed by skilled and reputable people with extensive mining, exploration and development experience. The Pershimco Team and its investors are the keys to its success.

The Company's documents are available on

Please visit the Company's website at

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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