Pershimco Resources Inc.
TSX VENTURE : PRO

Pershimco Resources Inc.

November 03, 2006 12:23 ET

Pershimco Names Ali Abbas Al-Hazeem as Director

ROUYN-NORANDA, QUEBEC--(CCNMatthews - Nov. 3, 2006) - Pershimco Resources Inc. (TSX VENTURE:PRO) is pleased to announce today the nomination of the Kuwaiti businessman Ali Abbas Ali Al-Hazeem to its Board of Directors.

Mr. Al-Hazeem is the Founder and Chairman of Amarium Commodities DMCC, a commodities brokerage and trading firm headquartered in Dubai (United Arab Emirates). Mr. Al-Hazeem is also a former director of the Kuwait Clearing Company S.A.K., of the Kuwait Real Estate Bank and of the Financial Group of Kuwait (Asset Management and Investment Banking Firm). He is a current director and co-owner of Intercoil International Co. LLC, an industrial company based in Dubai. He also was a Banker with Merrill Lynch International and with the Central Bank of Kuwait. Mr. Al Hazeem is a venture capitalist and active investor on the Canadian markets.

Mr. Al-Hazeem is fluent in Arabic, English and French. He received his MBA in financial studies at the age of 21 from the University of Nottingham in the United Kingdom. He holds a Bachelor of Science in International Business Administration from the American University of Switzerland; furthermore he was an Adjunct Lecturer in finance at the American University of Dubai back in 1999. He was previously registered with the NASD, NYSE, CBOE and the Philadelphia Exchange (PHLX) as a general securities representative. Additionally, he was registered with the NFA and the CFTC as a commodities and futures representative.

Pershimco will benefit from Mr. Al-Hazeem expertise in business and the financial markets as the Company aims for the international scene with its high profile precious and base metals San Miguel Property in the Cusi Mining District in Mexico.

The Company also wishes to announce the resignations of Mrs. Monique Plante (Administrator, Secretary-Treasurer and acting CFO) and Mr. Daniel Thibodeau (Administrator).

Mr. Roger Bureau, President and CEO of Pershimco states "The Company wishes to express its many thanks for the services rendered by Mrs. Plante, Mr. Bureau and Mr. Thibodeau, and wishes them all the best in their future endeavours". Mr. Bureau also adds "These dedicated individuals have been important to the organization from the early stages to where we are today at a major crossroad in our business development".

The Company intends to announce additional nominations to the Board of Directors in the coming days.

ON BEHALF OF THE BOARD OF DIRECTORS

SIGNED

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 the mining properties including the gold project of Courville in Quebec region of Abittibi and has an option to 100% on the Cusi property in the San Miguel area, in the Northern Mexican District of Chihuahua. The Company also has a Joint-Venture agreement with Dia Bras Exploration (TSX-V: DIB) near San Miguel and the two partners are aggressively finalizing the last stages necessary to bring the polymetalic (Silver and Zinc) 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 the commercial mining exploitation of its extensive portfolio of properties. 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 project located in Courville, Quebec. In the very near future, the management expect great commercial and financial results from the exploitation of the Cusi Mine property in San Miguel with Dia Bras (TSX Venture DIB).

FORWARD-LOOKING STATEMENTS -- 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 has not reviewed and does not accept responsibility for the adequacy or accuracy of the content herein.

Contact Information

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