Pershimco Resources Inc.

Pershimco Resources Inc.

May 02, 2007 11:56 ET

Pershimco Positive Following Silver Results From the Cusi Project, Mexico

- Channel sampling in sub-level below the La Bamba Open Pit gives 155 g/t silver over 134.5 m length - 3,780 g/t silver intersected in surface drilling at La Bamba Pit

CHIHUAHUA, MEXICO--(CCNMatthews - May 2, 2007) - PERSHIMCO RESOURCES INC. (TSX VENTURE:PRO) (FSE:BIZ) wishes to update its shareholders on recent progress made at the Company's La Bamba property in the State of Chihuahua, Mexico.

"New underground access below La Bamba Pit gives 155 g/t silver over 134.5 m length"

Operator Dia Bras Exploration Inc. (Dia Bras) recently completed surface drilling along the eastern boundary of the La Bamba Pit, as well as mapped and channel sampled a portion of the 250 m long drift recently discovered historical sub-level ("La Cabras Tunnel 1") approximately 50 m below and parallel to the La Bamba Pit. This exploration work is part of the Dia Bras exploration program necessary to obtain a 50% interest in the Pershimco Cusi Project.

Dia Bras identified a network of centimetric silver bearing veins and stockworks within breccias. A total of 99 channel samples were taken and analyzed at the Pambil Mill Laboratory owned by Dia Bras. Channel and interval assay results for silver are given in the following table:

CROSSCUT A 746526 to 746531 (6) 6.5 1.4 58
DRIFT A 746516 to 746525 (10) 12.0 1.3 288
B 746501 to746515,
737365 to 737375 (26) 37.0 1.6 89
DRIFT B 737350 to 737363,
741843 to 741878,
737340, 737341 (57) 79.0 1.9 190
TOTALS 134.5 1.5 155

The total length of drift sampled amounts to 134.5 m, with an average length of 1.5 m per sample with an average grade of 155 g/t silver. Host rocks near surface are highly oxidized, but still reveal the black centimetric silver veins and stockworks, in places accompanied by quartz. Individual veins trend in several directions, including N-S, NE-SW, NW-SE and sub-horizontal. They are generally 10 cm to 1 m wide and contain silver grades between 100 g/t to more than 1,000 g/t in the narrower intervals.

Veins outline several rectangular or lozenge-shaped and metric-sized blocks, composed of highly fractured and brecciated host rocks that plunge very steeply to the SW. Silver grades inside these blocks tend to be less than 100 g/t. The pattern was observed across a minimum 35 m true width based on the underground workings at La Bamba. Preliminary interpretation suggests the pattern may have horizontal and vertical extents in the tens of meters. Additional surface and underground work should resolve their full extent, litho-structural relationships, and potential higher-narrow and lower-bulk grade potential.

"3,780 g/t silver intersected in surface drilling at La Bamba Pit"

A total of 5,500 meters were drilled at San Miguel and La Bamba properties in 2006, and an additional 800 m in 2007. The most significant drill assay interval results from La Bamba are presented in the following table (results were previously issued in a March 1, 2007 news release by Dia Bras; however, new results are highlighted):

(m) (m) (m) (g/t) (g/t) %


06B30 35.0 73.0 38.0 0.1 188.0 0.3
INCL. 52.0 59.0 7.0 0.2 390.0 0.7
INCL. 39.0 40.0 1.0 0.7 981.0 1.1
06B36 41.2 63.7 22.5 0.1 113.0 0.1
INCL. 57.7 62.7 5.0 0.2 277.0 0.1
06B49 21.5 45.5 24.0 trace 104.0 Trace
INCL. 42.5 45.5 3.0 0.2 544.0 0.1
07B73(i) 10.5 11.7 1.2 1.1 1,240.0 1.8
36.5 44.0 7.5 0.1 216.0 0.1
07B74(i) 124.5 144.0 19.5 trace 195 0.2
07B77(i) 51.5 59.0 7.5 trace 482.0 0.1
07B086 83.7 95.1 11.4 0.1 127.0 0.1
INCL. 93.3 93.6 0.3 0.6 3,780.0 0.5

- Previously released as 06 series drilled in 2006, but are actually
07 series drilled in 2007.

Drill hole assay results again confirm that narrower intervals contain higher silver grades, generally approaching the 1 kg/t, and can exceed 3 kg/t, and when wider envelopes are included, silver grades generally remain over 100 g/t over 5 to 40 m intervals.

Mr. Jean Lafleur, Director and Technical Advisor, states "(...) Having now observed the mineralized system underground at San Miguel and La Bamba, there is a clear indication of a significant silver system that could contain a large tonnage potential using combined narrow higher grade veins and wider lower grade haloes. Dia Bras and Pershimco are actively moving forward with the exploration program at La Bamba and San Miguel with over 10,000 m of drilling planned to delineate higher quality mineral resources in 2007, to a depth of nearly 500 m below the topographic surface".

Pershimco also wishes to inform its shareholders that the Company is now listed on the German Frankfurt Stock Exchange (FSE), in response to the European demand on the stock. The Company now trades on the FSE under the symbol BIZ.


Jean Lafleur, P. Geo., Director and Technical Advisor

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 and under the symbol BIZ on the Frankfurt Stock Exchange. The Company holds 100% of several mining properties including the Courville Gold Project, near the Val-d'Or Gold Mining Camp, The Company has an option to acquire 100% of a number of Canadian and Mexican properties in the State of Chihuahua, Mexico, including the newly acquired Cu-Zn-Au skarn Magistral Project. Pershimco's wholly owned La Bamba and San Miguel properties, in the Cusi Mining District, is under option to Dia Bras Exploration (TSX-V: DIB). Pershimco's strategy is to advance its exploration properties towards metal reserves and eventual production.

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.

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