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Approval by the Quebec Government of the Restoration Plan for the Extraction of a 5,000-Tons Bulk Sample at the Pershing-Manitou Site

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Pershimex Resources Corporation Inc.
Pershimex Resources Corporation Inc.

Figure 1

5,000 tons bulk sample outline
5,000 tons bulk sample outline

VAL-D’OR, Québec, April 05, 2022 (GLOBE NEWSWIRE) -- Pershimex Resources Corporation (“Pershimex” or “the Company”) (TSX Venture: PRO) announces that it has received from the Ministère de l'Energie et des Ressources Naturelles du Québec, the approval of the Restoration Plan for the Pershing-Manitou mine site submitted in June 2021. The plan submitted by Pershimex is simple and rigorous. Among other things, it will allow the safe extraction and according to current environmental standards, of a sample of 5,000 tons of measured gold mineralized material. The Mineral Resource Estimate (MRE) submitted last January confirms the presence of measured grade gold resources of 9,200 tons grading 7.2 g/t gold for a total of more than 2,000 ounces. As the mineralized zone is located on the surface and already exposed, the result will be a trench that will then be secured and fenced (see figure 1 below).

Following the letter of agreement with Abcourt Mines Inc., the mineralized material will be processed at the Sleeping Giant mill, a gold plant perfectly adapted to the type of material presented at the Pershing-Manitou mine site.

Pershimex has obtained confirmation that the agreement reached with Abcourt Mines Inc. management remains valid despite the recent announcement of a change in the management of Abcourt Mines Inc. In fact, Mr. Pascal Hamelin, Director of Pershimex, has recently been appointed Chief Executive Officer of Abcourt Mines Inc.

Robert Gagnon, President and Chief Executive Officer of the Corporation, said: “The Approval of the Restoration Plan by the Ministry is the cornerstone for the completion of Phase 2 of the Corporation's development plan. Other authorizations required for bulk sampling are subject to this approval. The processing of mineralized material from the Pershing-Manitou site will be carried out at the Sleeping Giant mill, owned by Abcourt Mines Inc.”

We would like to take this opportunity to congratulate Mr. Pascal Hamelin, Director of Pershimex, on his appointment as the new Chief Executive Officer of Abcourt Mines Inc.

This press release was prepared by Robert Gagnon, professional geologist and President of Pershimex, a qualified person under NI 43-101.

For more information, please contact :

Robert Gagnon, President

Jacques Brunelle, VP Corporate Dev.

Tél.: (819) 825-2303

Tél: (819) 856-1387

Warning

Neither 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 the information contained in this press release.

Facts stated in this press release that are not historical facts are "forward-looking statements" and readers are cautioned that such statements are not guarantees of success and that future developments and results may differ from those projected in such forward-looking statements.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/15cef805-672d-4c45-8831-2164e050e50e


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