PRO Pershimex Resources Corporation

Pershimco Resources Inc. (the "Company" or "Pershimco") (TSX
VENTURE:PRO)(FRANKFURT:BIZ) is pleased to report that recent geophysical and
petrographic results from its ongoing exploration programs both support the
significant deeper geologic potential already envisioned to be found below the
known oxide gold deposit at its 100% owned Cerro Quema Project in Panama.


The Company has received both the initial results of the Induced Polarization
(IP) ground geophysics programs in progress at several of its target areas on
the property, as well as petrographic results from the initial batch of
thirty-eight (38) select samples that were sent out for detailed analysis.
Results of this latest IP survey have highlighted large chargeability bodies
located beneath the oxide gold caps at the Quema and La Pava targets, validating
Pershimco's exploration model. The petrology results provide further evidence to
support the three-dimensional (3D) interpretation generated from the earlier
deep IP survey program. 


HIGHLIGHTS:



--  Deep IP Survey shows large chargeability bodies, open at depth, under
    the Quema and La Pava oxide gold deposits; 
    
--  Large Footprint of chargeability body at Quema covers an area of
    approximately 1.72km by 0.920km; 
    
--  Initial Results of IP Survey at Idaida target area (1.5km southeast of
    the Quema deposit) highlight an additional large and shallower
    chargeability system (See Pershimco news release dated February 19,
    2013); and 
    
--  Petrology results shows presence of common minerals associated with the
    typical High Sulphidation- Mineralization Model. 



IP Survey

Following successful IP surveys initiated late 2012, additional geophysics
surveys and detailed petrology analysis have been budgeted and are being
completed. Pershimco has also further expanded the geological team by employing
three additional geologists with porphyry experience to work on the preparation
of a deep copper-gold drilling campaign scheduled to commence in Q4 2013.


Interpretation of IP surveys on the first three target areas - Quema, La Pava
and Idaida - have just been received and, in each case have identified the
presence of large chargeable bodies at depth. These bodies, located under the
gold oxide deposits, remain open at depth and show a generally inversed cone
geometry. These three large chargeable bodies are located along a more than 6km
section of the known mineralized Cerro Quema Mineralized Corridor, which has
been identified to extend for approximately 17km within Pershimco's concessions.


The Company is currently completing an IP survey at its fourth and largest
regional target, Pelona, located further east along the mineralized corridor. To
date, these early results bode well for validating the Company's geological
model that the high sulphidation systems located at surface appear to be
proximal to a porphyry system. 


Petrology

The first batch of samples sent for petrology have returned a positive sequence
of mineralogy and have helped to identify numerous key minerals commonly found
in this type of mineralization model of a coupled high sulphidation/porphyry
system. Some of the minerals identified include bornite, covellite,
chalcopyrite, enargite, tennantite and molybdenite. 


Pershimco has been working extensively with a consultant petrologist from
Australia in preparation for the deep drilling that will be initiated once the
studies are completed and analyzed in conjunction with other available
exploration data.


Financial update

Pershimco also wishes to provide a financial and operational update to its
shareholders. The Company's management team, together with its Board of
Directors, has decided to reduce the general exploration and construction
budgets in view of the continued volatility in the junior exploration sector
market. Budgets will be amended with the intent to preserve Pershimco's cash
position while ensuring that steady progress is made in the development of the
Company's flagship Cerro Quema Project in Panama. The monthly burn rate has been
reduced to USD $1.1 million, permitting the Company to maintain a strong
exploration program at the same time it husbands its strong treasury, currently
at over C$10.5 million.


General Exploration: Pershimco's ongoing exploration program will focus on the
regional targets identified by the previous airborne geophysics survey in
addition to systematically advancing its development of the deep copper-gold
exploration program currently underway. Pershimco has reduced the number of
drill rigs on site from four to one as all geology personnel working on three of
the original four drill rigs have been transferred to the regional exploration
group to focus on advancing multiple exploration targets. The drill rig onsite
is a dual purpose rig having both reverse circulation and diamond core drilling
capability with the latter having a depth capacity of approximately 600m. As
previously noted, upon completion and evaluation of the current exploration
activities in progress, the newly discovered IP chargeability anomalies will be
tested by core drilling.


Construction: Much of the initial milestones under the construction of Cerro
Quema's pilot plant and leach pads are close to completion, including
engineering studies, earthwork and camp expansion. The purchase of major
equipment and construction of the pilot plant will be delayed in line with the
Company's revised cash preservation strategy.


"Our core objective is to protect the best interests of our shareholder by
striving to avert dilution while we continue to generate value at our Cerro
Quema Project and retaining a solid treasury will help us to achieve these
goals," said Alain Bureau, President and CEO of Pershimco. "With the recent
exploration advances we are making, we remain confident that the market will
recover and when it does, we believe our current strategy will pay off by
placing Pershimco in a contending position to gain a better valuation through
the ensuing uptrend."


The information contained in this press release has been reviewed and approved
by Mr. John Kapetas, B.Sc. Hons, MAusIMM, MAIG, a Qualified Person under NI
43-101 rules and standards.


ABOUT PERSHIMCO RESOURCES INC.

Pershimco Resources Inc. is a Canadian-based resources and exploration company
listed on the TSX Venture Exchange and the Frankfurt Exchange. The Company holds
several mining properties in Canada and South America, including the extraction
permitted Cerro Quema advanced project in Panama and the Courville Gold Project
in the Val-d'Or Gold Mining Camp, being explored in partnership with Osisko
Mining Corporation. The Company is managed by skilled and reputable people with
extensive mining, exploration and development experience. The Pershimco Team and
its investors are the keys to its success.


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

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

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Alain Bureau, P. Eng.
President and Chief Executive Officer
+1 (819) 797-2180
ressources@pershimco.ca


Elina Chow
Investor Relations
+1 (416) 845-8495
info@pershimco.ca

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