Pershimco Resources Inc.
TSX VENTURE : PRO
FRANKFURT : BIZ

Pershimco Resources Inc.

October 02, 2014 20:41 ET

Pershimco Resources Inc.: Grant of Incentive Stock Options

ROUYN-NORANDA, QUÉBEC--(Marketwired - Oct. 2, 2014) - Pershimco Resources Inc. (the "Company" or "Pershimco") (TSX VENTURE:PRO)(FRANKFURT:BIZ) announces that its Board of Directors has granted on October 2, 2014 in the afternoon an aggregate of 1,100,000 incentive common share options to some of its directors, officers and consultant performing investor relations activities, at an exercise price of $0.28 and valid for a period of five years.

ABOUT PERSHIMCO RESOURCES INC.

Pershimco Resources Inc. (TSX VENTURE:PRO)(FRANKFURT:BIZ) is a mineral exploration and development company with a near-term gold oxide production scenario and a copper-gold porphyry target at its 100%-owned Cerro Quema Project in Panama. Cerro Quema's concession boasts paved road access, no indigenous groups and the most favorable climate in the country. Based on the results from a recently released pre-feasibility study, the Company's extraction-permitted gold oxide project has a pre-tax NPV of $165 million US with a pre-tax internal rate of return of 46.8% ($110 million US after tax with an after-tax rate of return of 33.7%), supported by stellar recovery rates (86%) and lowest quartile all-in sustaining cash cost of $631/oz. Led by a skilled management team with a proven track record of building successful operating mining facilities in the Americas, Pershimco's project is scheduled to be in production in 2016. Additionally, the Project has proven to have significant exploration upside with resource expansion potential in more than 12 oxide targets identified along a 17km trend, as well as porphyry indicators along a 12km strike length that suggests a copper-gold porphyry system may be found at depth. With strong shareholder support, Pershimco aims to achieve cash flowing status in the near term, to be used to continue uncovering the value of Cerro Quema.

The Company's documents are available on www.sedar.com.

Please visit the Company's website at www.pershimco.ca.

For more information, please contact:

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.

Contact Information