Pershimco Resources Inc.

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.


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.

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