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

Figure 1

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.

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