Pershimco Resources Inc.
TSX VENTURE : PRO

Pershimco Resources Inc.

October 19, 2006 14:53 ET

Pershimco Files its Annual Financial Statements for 2006 and Amends its First Quarterly Financial Report

ROUYN-NORANDA, QUEBEC--(CCNMatthews - Oct. 19, 2006) - On October 18th, 2006, Pershimco Resources Inc. (TSX VENTURE:PRO) filled its annual financial statements for the year 2006 and also filled an amended quarterly financial report for its first quarter of 2006 with the "Autorite des Marches Financiers" (AMF, Quebec Securities Regulator).

Change of auditors in favour of Samson Belair / Deloitte & Touche in July 2006 caused delays in the production of the annual Financial Statements. In order to comply with the final numbers of the audited Financial Statements, the Company is also restating its last quarterly report for the first quarter of 2006.

The auditors made minor adjustments to past financial results that represent no material changes. Following the filling of these documents, the company is expecting a decision from the regulators that should cause the resumption of trading of its shares in the coming days.

Documents referred to in this press release can be found on Sedar at www.sedar.com

ON BEHALF OF THE BOARD OF DIRECTORS

"Roger Bureau"

Roger Bureau, President

About Pershimco Resources Inc.

Pershimco Resources Inc. is a Canadian based resource and exploration company traded publicly under the symbol PRO on the TSX Venture Exchange. The Company holds 100% of numerous mining properties including the gold project of Courville in near Val d'Or gold mining camp, northern Quebec. The company also has an option to acquire 100% of various Canadian and Mexican properties including multiple properties and mines in the Mexican District of Chihuahua Pershimco has a Joint-Venture agreement with Dia Bras Exploration (TSX-V: DIB) in the Cusi mining region and the two partners are aggressively finalizing the last stages necessary to bring the commercial mining operations into full force by the first quarter of 2007.

The Company's mission is to extend the knowledge of its silver and zinc properties in Mexico trough advance exploration programs that will lead to commercial mining exploitation. That mission covers also the discovery and development of economic, multi-million ounce gold deposits through the last stages of exploration of its high quality Courville project. In the very near future, the management expect positive commercial and financial results from the exploitation of the Cusi project through its partnership with Dia Bras (TSX Venture DIB).

FORWARD-LOOKING INFORMATION - This press 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.

Contact Information

  • Investor information:
    Pershimco Resources Inc.
    Mr. Roger Bureau, President
    866-797-2180
    819-797-9617 (FAX)
    www.pershimco.ca