Pershimco Not to Be Affected by Repeal of Amendments

ROUYN-NORANDA, QUEBEC -- (Marketwire) -- 03/08/11 -- PERSHIMCO RESOURCES INC. (the 'Corporation' or 'Pershimco') (TSX VENTURE: PRO) (FRANKFURT: BIZ) positively comments that recent amendments made to the Mineral Resources Code of Panama will be repealed by the Panamanian legislature.

According to government statements, the National Assembly will be formally requested to revoke Law No. 8 of Febuary 11, 2011, which amended the Mineral Resources Code of 1963. The focus of the Law No. 8 amendments was to allow foreign sovereign funds to invest in Panamanian resources and restrict exploration in the Indigenous areas.

The Corporation announces that the proposed revocation of Law No. 8 will, in no way shape or form, reflect negatively upon the operations of the Corporation. Cerro Quema is a fully permited project located in the Azuero Peninsula far from all Indigenous communities. Pershimco has built a very strong relationship with the surrounding communities which are positively looking forward to the development of the Cerro Quema Project.

About Pershimco Resources Inc.

Pershimco Resources Inc. is a Canadian-based resource and exploration corporation listed on the TSX Venture Exchange (TSX VENTURE: PRO) and the Frankfurt Exchange (FRANKFURT: BIZ). The Corporation holds several mining properties in Canada and South America including the recently acquired Cerro Quema advanced project in Panama and the Courville Gold Project, in the Val-d'Or Gold Mining Camp. The Corporation is managed by skilled, reputable people with extensive mining exploration and development experience. The Pershimco Team and our investors are the key to our success.

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

For more information, please visit the Corporation'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' statements.

Contacts:

Pershimco Resources Inc.

Alain Bureau, P. Eng.

President and Chief Executive Officer

1-819-797-2180
ressources@pershimco.ca