Pershimex Resources Corporation - Update on Merger Transaction With Abcourt

Pershimex Resources Corporation

 (“

Pershimex

” or the “

Corporation”

) (TSX GROWTH: PRO) would like to provide a corporate update regarding the transaction with Mines Abcourt inc.

The Board of Directors reviewed the progress of Abcourt's steps on the state of its financing to allow the conclusion of the merger approved by the shareholders of Pershimex on December 27th 2022. The difficult and exceptional financial circumstances, affecting the Canadian capital markets and more specifically the mining industry, require an extension of the deadline for closing the merger by 60 days.

Noting that Abcourt's sustained efforts to enable the merger between the companies to be completed as quickly as possible, Abcourt's assurance and renewed support that Pershimex's current plans and Pershimex's financial structure are in the interests of 'Abcourt to be promoted and protected, the Board of Directors of Pershimex has expressed its support and has approved to extend the deadline for closing the merger by 60 days from the date hereof.

About Pershimex Resources Corporation

Pershimex Resources Corporation is a mining exploration and development corporation with projects located primarily in the Abitibi region of Québec, Canada, focusing on the discovery and development of high-grade gold deposits.

For more information, please contact:

Robert Gagnon, President
Tel.:	[phone]
Mobile :	[phone]

Warning

Neither 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 the information contained in this press release.

Facts stated in this press release that are not historical facts are “forward-looking statements” and readers are cautioned that such statements are not guarantees of success and that future developments and results may differ from those projected in such forward-looking statements.