Award of Contracts for the Extraction of a 5,000 Tons Bulk Sample on the Courville Property

VAL-D'OR, Quebec, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Pershimex Resources Corporation ("Pershimex" or "the Company") (TSX Venture: PRO) is pleased to announce that following receipt of the last required permits, contracts for the extraction of the 5,000 tons bulk sample have been awarded and that work will follow shortly. The Ministère de l'Énergie et des Ressources Naturelles (MERN) and the Ministère de l'Environment et de la lutte contre les changements climatiques (MELCC) have authorized the extraction of the bulk sample in order to carry out metallurgical tests that will allow, among other things, to establish the actual content in gold of the mineralized material. This information will contribute significantly to the development of the Pershing-Manitou deposit since it will optimize future development work.

The mineral resource estimate (ERM) carried out in 2022 by 3D Géo Solution inc. of Val-d'Or, confirms the presence of 9,200 tons of mineralized material at a grade of 7.2 g/t gold for a total of 2,100 ounces of gold. The bulk sample of 5,000 tons will be extracted from this category of material, classified as measured. The extraction of the sample will be carried out by Groupe Minier Technica from Val-d'Or, an experienced mine contractor who have completed several successful bulk sample programs. The transport of the material from the Pershing-Manitou site to Sleeping Giant processing plant will be provided by Hardy Construction from Amos, a regional partner who contributed to the other phases of development of the property. Finally, the milling will be done at the Sleeping Giant mine of Abcourt Mines with which Pershimex established business. The extraction work will begin during the first week of September 2022. The preparations necessary for the proper conduct of the extraction work are currently underway on the site, an update will be made as soon as the first tons are extracted.  

Robert Gagnon, President and Chief Executive Officer of the Company, said: "Obtaining the necessary authorizations for the extraction of 5,000 tons of mineralized material marks an important phase in the development of the Courville project. We have been working hard for almost 3 years now, and with the same rigorous budget for the realization of phase 2 of our ambitious project. Recall that it all began with the removing of the 2,000 tons of material (phase 1) which was completely covering the gold zone that will be the subject of the present bulk of 5,000 tons. Two drilling campaigns have defined a measured category gold resource that will allow us to feed the Sleeping Giant plant and obtain the real grade of gold contained in the mineralized material and, the most important, to fix all the variables necessary to optimize the metallurgy of the project".

Qualified Person

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

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