Drilling of the Crown Pillar at the Former Pershing-Manitou Gold Mine

ROUYN-NORANDA, Quebec, Feb. 13, 2020 (GLOBE NEWSWIRE) — Pershimex Resources Corporation (“ Pershimex ” or the “ Corporation ”) (TSX Venture: PRO) announces that exploration and definition drilling will begin on the crown pillar of the former Pershing-Manitou gold mine. This drilling campaign aims to assess the presence of mineralization in the crown pillar of the former mine. A 1,500-metre drilling campaign will be carried out over the next few weeks and will, among other things, start phase 2 of the Pershing-Manitou project, which aims to extract a bulk sample from the crown pillar. These drillings will provide the necessary information for the various engineering work related to the project

Phase 1 of the Pershing-Manitou project is still in process and aims to make the custom milling of mineralized material stored at the mine site. The various mineral tests undertaken in the fall of 2019 were positive (refer to the press releases of October 8 and 22, 2019). A restoration plan for the Pershing-Manitou mine site was submitted to the Ministry of Natural Resources on December 2, 2019 and is required to obtain the bulk sampling permit. This permit will allow to take the mineralized material stored at the site and to transport it to a custom mill.

The Corporation is currently working with the University Research Centre in collaboration with the government to complete Phase 1. Pershimex innovative approach will restore and rehabilitate an orphaned mine site. The storage of the mineralized material heap in the field for more than 60 years poses a potential risk for certain heavy metals that can release and spread into the environment. Environmental tests carried out by URSTM in the autumn of 2019 confirm that nickel, molybdenum and arsenic are leachable. The removal and processing of the mineralized material pile will, of course, allow gold to be extracted but also to remove this historic mining liability from the environment. The restoration plan submitted by Pershimex will restore the former mine site to good condition for future generations. If the evolvement of the Phase 1 is positive, the Corporation will have transformed an environmental liability into a sustainable development project.

Robert Gagnon, President and CEO of the Corporation, stated: “The drilling campaign that will begin shortly is aimed at assessing and confirming the mineralization of the crown pillar of the former Pershing-Manitou gold mine. This drilling campaign will allow us to start Phase 2 of our ambitious Pershing-Manitou project. This project is a concrete way to demonstrate our commitment, professionalism and determination to carry out mining work that benefits all stakeholders.”

Pershimex Resources Corporation – Quick Overview

Strategic positioning in Abitibi-Témiscamingue with more than 800 claims.

Owns 100% of the mining rights on the Courville property.

Partnership with Dundee Precious Metals on the Malartic property;

This press release was prepared by Robert Gagnon P.Geo, president of Pershimex, a qualified person under Regulation 43-101.

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