Pershimco Resources Inc.

Pershimco Resources Inc.

September 10, 2007 18:30 ET

Pershimco Updates Mexican Exploration


CHIHUAHUA, MEXICO--(Marketwire - Sept. 10, 2007) - PERSHIMCO RESOURCES INC. (TSX VENTURE:PRO)(FSE:BIZ) is pleased to update its shareholders on the progress of the Company's Mexican exploration activities at the Magistral and Las Minitas projects.

Magistral Project

Pershimco has received a second batch of 181 assay results from the recently completed trenching and surface grab sampling of its ongoing Phase 1 exploration program on its wholly owned Magistral Project located 60 km south of the city of Chihuahua, Mexico.

Some 10 trenches, totalling approximately 3 km in combined length, were excavated to 4 m depth. Trenches cover historic areas of iron mineralization related to magnetite-bearing skarns found on the Melina, Camila, Magistral Dos, Rodrigo, Vicky, Ana, Isabel and Karla claims. More than 800 selective trench and surface grab samples were collected, processed at the University of Chihuahua's engineering facility, with crushed samples sent for multi-element analysis at Techni-Lab SGB Abitibi Inc., in Ste-Germaine-Boule (Quebec, Canada) for assaying.

The second batch assay results(i) consist of 55 samples from the Pedro claims, 81 from the adjacent Rodrigo claims, and 45 from Melina. The PED samples range from trace to 80 ppb gold, 0.4 to 5.6 g/t silver, trace to 230 ppm copper and 22 to 112 ppm zinc. The 45 lower grades results from Rodrigo range from trace to 203 ppb gold, 0.8 to 11.0 g/t silver, 12 to 2,424 ppm copper and 32 to 428 ppm zinc. The Melina samples range from trace to 8 ppb gold, 0.6 to 3.8 g/t silver, 6 to 96 ppm copper and 20 to 64 ppm zinc.

The 36 higher grade results from Rodrigo are outlined in the following table:

The 36 samples from the Rodrigo claims were essentially derived from 4 sample sites that included the Shaft, Trench, Stockpile and Adit, located along the eastern portion of the mineralized skarn unit. The current assay results again compare very well with the historic and previous Pershimco results (refer to the news releases dated March 29, 2007 and August 2, 2007). The magnetite-rich skarns from historic mineralized trenches and underground stockpiles found at surface, near the shaft openings, contain anomalous and, locally, appreciable amounts of precious and base metals.

Mr. Jean Lafleur, Director and Technical Advisor, acknowledges that "(...) Even though the Magistral Project is still an early-stage project, the mineralization identified to date on surface and from mineralized stockpiles is nothing short of impressive (...) Typical iron, copper and gold bearing skarns in the Americas range in size from 200,000 tonnes to 200 million tonnes, with a middle range of 600,000 tonnes to 40 million tonnes generally grading less than 1 g/t to more than 9 g/t gold, 5 to 15 g/t silver, and 2 to 3% copper (...) Pershimco will aggressively continue in the near term to determine the potential size and grades of the Magistral mineralization (...)".

The Magistral project consists of eight concessions totalling 845 hectares or 8.45 km2. Six were acquired around the original 122 hectares Camila and Melina concessions. These included the Magistral Dos (375 hectares), Rodrigo (4 hectares), Vicky (44 hectares), Ana (100 hectares), Isabel (160 hectares) and Karla (40 hectares). The new concessions have been historically mined mostly for their iron by Mexican interests, and are easily accessible via the main state highway and secondary gravel roads leading to the site.

The Phase 1 exploration program is to evaluate the size potential of the skarn mineralization. All of the individual properties have undergone some form of historic selective underground mining to shallow depths (less than 100 m). The skarns consist of calcite, epidote, garnet, magnetite and sulphides in different combinations and proportions, and are located within sub-horizontal limestones and arenites along the contact of a major felsic intrusive. The observed skarns vary in thickness from 50 m to 500 m wide, and extends the full length of the contiguous Magistral Dos, La Chata, Camila and Melina properties, as well as the Ana, Isabel, Rodrigo and Vicky properties, a combined minimum 7 km strike length.

The Company will be initiating the airborne (helicopter) High Resolution Magnetic and Frequency Electro-Magnetic surveys covering the entire Magistral portion of the Belt (a 100 km2 area). The survey is expected to be instrumental in detecting the extensions of known magnetite-sulphides zones, as well as identifying on strike and at depth sulphide targets. Priority targets will be validated with drilling.

The TSX Venture Exchange has also accepted, on August 1, 2007, for filing the documentation relating to an Agreement dated June 28, 2006, between Minera Homero, S.A. de C.V., and a subsidiary of Pershimco, Minero Metalurgica San Miguel, S. de L. de C.V., pursuant to which Minero acquired a 100% interest in the Melina and Camila claim blocks of the Magistral Project. Pershimco paid US$ 200,000 and issued 1.4 million common shares of the Company to Homero. Homero retains a 2% Net Smelter Return royalty in the claims, which is redeemable by the Company for US$ 1 million (refer to the Company's news releases dated December 7, 2006 and February 7, 2007). The acquisition is at arm's length and there were no finders fees related to the transaction.

Las Minitas Project

Pershimco has now completed 8 diamond drill holes (LM-07-01 to 08) at the Las Minitas Project, with 1 hole in progress (LM-07-09). Drilling has intersected tuffaceous units generally with 1-5% sulphides over significant core lengths ranging from 12 to 93 m, true widths of 9 to 70 m. Drill hole statistics are summarized in the following table:

Core is being logged, split, bagged and sealed on site, and sent to the ALS-Chemex facility in Hermosillo, Mexico, 300 km north of the project where samples will be processed and sent to Vancouver, BC, for final analysis. Assays and assaying protocols will be issued once results are made available to the Company.

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 a number of Canadian and Mexican properties in the State of Chihuahua, Mexico, including 100% of the newly acquired Cu-Zn-Au-Ag skarn Magistral Project and 75% of the Las Minitas Ag-Au project. Pershimco's wholly owned La Bamba and San Miguel properties, in the Cusi Mining District, are under option to Dia Bras Exploration. Pershimco's strategy is to advance its exploration properties towards metal reserves and eventual production.

The information in this news release has been prepared and reviewed by Mr. Jean Lafleur, P. Geo., Director and Technical Advisor to Pershimco, the Company's Qualified Person under NI 43-101.

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The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements that could reflect Pershimco's objectives, estimates, expectations and the impact of acquisitions on Pershimco's financial performance. 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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