Pershimco Resources Inc.
TSX VENTURE : PRO

Pershimco Resources Inc.

April 10, 2007 14:09 ET

Pershimco Confirms its Geological Model; New Interval of 1.09 g/t Gold Over 55.8 Meters

ROUYN-NORANDA, QUEBEC--(CCNMatthews - April 10, 2007) - PERSHIMCO RESOURCES INC. (TSX VENTURE:PRO) wishes to inform its shareholders that the Company has intersected a second interval of significant mineralization within the Thibodeau Intrusive Complex ("TIC") at the Courville Project, located 60 km north-east of the Val-d'Or Mining Camp, as part of the initial delineation drill campaign completed earlier this year. The significant interval outside of the previously known core mineralization returned 1.09 g/t gold over 55.8 m, including 43.50 g/t gold over 1.0 m within a 2.0 m interval grading 23.71 g/t gold (refer to the appended table for the latest interval results).

The scale of the mineralization when combined with the previous intersections of 1.01 g/t gold over 46.0 m (PRO-07-22); 1.01 g/t gold over 23.0 m, including 9.50 g/t gold over 2.0 m (PRO-07-01); and 1.54 g/t gold over 17.0 m, including 15.92 g/t gold over 1.0 m (PRO-07-05) (refer to the news release dated March 21, 2007) confirms that the gold bearing mineralization follows multiple stockworks of sub-horizontal quartz-gold veins averaging 1 to 1.5 g/t gold over true widths between 15 m and 60 m.



---------------------------------------------------------------------
DDH FROM (m) TO (m) INTERVAL (m) GOLD GRADE (g/t)
---------------------------------------------------------------------
NORTHWEST EXTENSION
---------------------------------------------------------------------
PRO-07-09 47,0 48,0 1,0 1,01
---------------------------------------------------------------------
70,0 71,0 1,0 1,84
---------------------------------------------------------------------
74,0 82,3 8,3 1,02
---------------------------------------------------------------------
Incl. 82,0 82,3 0,3 5,85
---------------------------------------------------------------------
105,0 106,0 1,0 1,49
---------------------------------------------------------------------
117,0 118,0 1,0 1,31
---------------------------------------------------------------------
131,0 132,0 1,0 2,57
---------------------------------------------------------------------
136,0 138.0 2,0 1,62
---------------------------------------------------------------------
PRO-07-11 94,0 95,0 1,0 3,19
---------------------------------------------------------------------
109,3 110,0 0,7 1,04
---------------------------------------------------------------------
139,0 140,0 1,0 3,38
---------------------------------------------------------------------
151,0 152,0 1,0 1,21
---------------------------------------------------------------------
PRO-07-14 69,9 70,8 0,9 1,80
---------------------------------------------------------------------
101,0 102,0 1,0 1,12
---------------------------------------------------------------------
121,0 122,0 1,0 1,27
---------------------------------------------------------------------
126,0 127,0 1,0 1,50
---------------------------------------------------------------------
140,0 141,0 1,0 1,33
---------------------------------------------------------------------
151,0 152,0 1,0 1,82
---------------------------------------------------------------------
179,0 180,0 1,0 1,24
---------------------------------------------------------------------
PRO-07-22 First results published in the March 21st Press Release
---------------------------------------------------------------------
140,0 141,0 1,0 1,48
---------------------------------------------------------------------
146,0 152,0 6,0 1,06
---------------------------------------------------------------------
151,0 151,6 0,6 3,04
---------------------------------------------------------------------
199,0 200,0 1,0 1,31
---------------------------------------------------------------------
PRO-07-24 118,0 122,0 4,0 1,01
---------------------------------------------------------------------
119,0 121,0 2,0 1,81
---------------------------------------------------------------------
PRO-07-28 20,4 21,4 1,0 2,40
---------------------------------------------------------------------
45,4 58,4 13,0 0,87
---------------------------------------------------------------------
Incl. 51,4 52,4 1,0 6,44
---------------------------------------------------------------------
PRO-07-30 3,6 59,7 55,8 1,09
---------------------------------------------------------------------
Incl. 44,7 54,7 10,0 4,42
---------------------------------------------------------------------
Incl. 48,7 50,7 2,0 23,71
---------------------------------------------------------------------
Incl. 49,7 50,7 1,0 43,50
---------------------------------------------------------------------


Assay results to date continue to confirm the geological model outlined in December 2006 - that extensive lower grade gold corridors contain higher grade but narrower gold zones (refer to news press release dated January 18, 2007). Utilising this type of geological model it is not essential to find higher grade narrow gold veins, particularly if the mineralization is near surface. It is more important to deliver constant grades over substantial thicknesses for potential open pit-type mineral resource scenarios. This is consistent with other active gold projects in the Abitibi Greenstone belt. As an example Osisko's (TSX VENTURE:OSK) Canadian Malartic project that grades between 1.14 and 1.20 g/t gold over hundreds of meters.

As of today's date, 5,115 m of drilling has been completed at Courville in 33 NQ size drill holes. The confirmed mineralization now covers a 750 m segment of the TIC, which extends for at least 3 km based on its magnetic signature. Additional results still pending from the first phase of drilling will be released when received.

Roger Bureau, President of Pershimco commented: "...The objective of this first phase of delineation drilling was to find the borders of the known mineralization body. (...) The drill holes started far beyond the known historical borders of the mineralization body and drilling usually stop after intercepting the intrusive for a few meters. (...) The bigger than planned size of the intrusive is the reason why this first phase returned drill hole results that could be passed as the results of a definition drilling campaign. For us, this is a positive indication of what we should find as we are moving ahead with more delineation drilling along the 3 km defined exploration target zone ..."

The Company is now actively planning the next phase of delineation drilling that will target the north-west and south-east lateral extensions, as well as the depth extension.

ON BEHALF OF THE BOARD OF DIRECTORS

"Jean Lafleur"

JEAN LAFLEUR, P. GEO., DIRECTOR AND TECHNICAL ADVISOR


Analysis of the drilling pattern at the Courville Gold Project

Two different drilling approaches were used during the campaign - drilling in X and V fences. The X pattern drill tested the TIC wall rocks and have a moderate angle to the contacts and the quartz-gold veins. PRO-07-22 was part of a series of holes drilled in this pattern. Other drill holes positioned vertically intersected at near right angles to the mineralization in the TIC. PRO-07-30 was one of them.

The V pattern drilling was done with two drill holes intersecting the wall rocks in their entirety and to evaluate their gold bearing potential. A few anomalous results were intersected; but these will require further testing to validate their gold potential. Additional V fences were drilled in the TIC to determine the spacing of mineralized zones, which appear to be at regular intervals (within 10 m), suggesting adherence to the proposed geological for the TIC. PRO-07-30 carries 1.09 g/t over its entire drill length. The drill hole did not extend to depth, since the deeper mineralization was cut by PRO-07-23 and 24.

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. The Company holds 100% of several mining properties including the Courville Gold Project, near the Val-d'Or Gold Mining Camp in north western Quebec. The Company also has an option to acquire 100% of a number of Canadian and Mexican properties including multiple properties in the State of Chihuahua. Mexico. Pershimco holds the Cu-Au-Ag Magistral and Ag-Zn San Miguel and La Bamba properties. The latter property is under option to Dia Bras Exploration Inc. that can eventually acquire a 70% interest. Pershimco's strategy is to increase value to its projects already holding a strong potential in precious and base metals.

Please visit our web site at www.pershimco.ca.

This news release contains forward-looking statements reflecting Pershimco objectives, estimates, expectations and the impact of acquisitions on Pershimco's financial performance. These statements are identified by the use of verbs such as "believe", "anticipate", "estimate", and "expect" as well as by the use of future or conditional tenses. 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

  • Paradox Investor Relations
    Toll Free within Canada 866-460-0408
    or 514-341-0408
    514-341-1527 (FAX)
    infoparadox@qc.aira.com
    or
    Pershimco Resources Inc.
    Mr. Roger Bureau
    President and CEO
    819-797-2180