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Gold/Mining/Energy : Pacrim Resources

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To: D. Bryan who started this subject	7/21/2003 8:28:30 AM
From: D. Bryan	of 18

News Release PacRim Resources to acquire 70% interest in Bugotu 2003-07-11 14:39 MT - Property Agreement The TSX Venture Exchange has accepted for filing documentation pertaining to an option and joint venture agreement, dated May 1, 2003, between PacRim Resources and Pacrim Resources (SI) Ltd. (the optionor), whereby the company can acquire up to a 100-per-cent interest in the 70-per-cent interest owned by the optionor in the Bugotu nickel project located in the Solomon Islands. The company can earn a 70-per-cent interest in the property (100-per-cent interest of the 70 per cent owned by the optionor) in consideration for $3-million in expenditures on or before Dec. 31, 2006. The company can earn a 21-per-cent interest (30 per cent of 70 per cent) by spending $1-million on or before Dec. 31, 2004, and a 42-per-cent interest (60 per cent of 70 per cent) by spending $2-million on or before Dec. 31, 2005. For further details, please refer to the company's press release dated Oct. 8, 2002.

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