Pershimco Resources Inc : PERSHIMCO UPDATE

11 Perreault Street East Rouyn-Noranda, Quebec Canada J9X 3C1

www.pershimco.ca TSX-V: PRO FSE: BIZ

NEWS RELEASE

Pershimco Update ROUYN-NORANDA, QUEBEC - January 11, 2012 - PERSHIMCO RESOURCES INC. (the "Company" or "Pershimco") (TSX-V: PRO) (FSE: BIZ) is pleased to inform its shareholders on the company's activities during 2011 and guidance on the upcoming 2012. 2011 Resume

Pershimco Resources has performed successfully and kept on delivering to its shareholders by increasing its market capitalization and shares prices throughout 2011. Last year, the Company has positioned itself within the best performing junior companies on the TSX.V by focusing on bringing strong shareholders and partners on board. Well financed for its 2012 upcoming activities, some of the key elements that will sustain our growth are:

2011 CERRO QUEMA, PANAMA

- Acquisition of 100% of Minera Cerro Quema and completed all payments related to the asset purchase
- Access Roads and drilling platforms construction
- Camp infrastructures and preparation lab construction
- 8,000 meters of reverse Circulation and Diamond drilling
- Financing activities that supplied $20 M in the treasury
- First ever 43-101 resource calculation on the Cerro Quema project showing good upside
- Completed the Environmental compliance and management program, PAMA (Programa de Adecuación y Manejo Ambiental)
- Maintained all permits in place for construction / extraction concessions
- Completed the verification of Quema/Quemita historical resources
- Expansion of mineralization footprints
- Geophysics, ground IP on the North-east area of the project

2011 COURVILLE, CANADA

- Acquisition of the northern area of Courville project
- Acquisition of the Jolin Project
- Merge and GIS of all new and historical database
- Signature of a Join-Venture partnership with Osisko Mining Corporation on Courville Gold
- 1,301 KM linear of Airborne MAG Geophysics on the northern area

2012 Guidance

Pershimco intend to start up with lots of activities for Q1 and Q2 of 2012 in order to build ounces and also increase its knowledge on metallurgy and processing of the ore. Surface acquisitions as well as community relations will stay prime objectives for the Company.

2012 CERRO QUEMA, PANAMA

- 30,000 meters of combined Reverse Circulation and Diamond Drilling
- New Resources calculation on expanded targets
- Additional surface land acquisitions
- Access roads construction
- Airborne geophysics (Electromagnetism-radiometric-magnetism)
- Ground IP geophysics
- Metallurgy testing

2012 COURVILLE, CANADA

- Integration and mapping of the global property
- Interpretation and analysis of the 1301 KM airborne MAG survey of the north of the property
- 3,600 meters of diamond drilling in the north of the property
- 41 KM of Geophysics (PP) in the Esteville area
- 3,600 meters of diamond drilling in the Esteville area
- Keep up our good relation with the community

About Pershimco Resources Inc.

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

The Corporation's documents are available on www.sedar.com Please visit the Corporation's website at www.pershimco.ca For more information, please contact
Alain Bureau, P.Eng. Richard Leroux President and Chief Executive Officer Investors Relations Tel: [phone] Tel: [phone] [e-mail] [e-mail]

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" statement.