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Gold/Mining/Energy : Pacific Rim Mining V.PFG -- Ignore unavailable to you. Want to Upgrade?

To: charred who wrote (14515)	1/23/2002 7:18:26 AM
From: Bill Jackson	Read Replies (1) \| Respond to of 14627

charred. News from CCN Disclosure Pacific Rim Receives Diablillos Payments Ahead Of Schedule <http://www.globeandmail.com/images/print-email-icon.gif> [space] Advertisement [space] [Click here for more information] 09:03 EST Monday, January 21, 2002 VANCOUVER, BRITISH COLUMBIA--Pacific Rim Mining Corp. is pleased to announce it has received an additional US$ 1 million payment from Silver Standard Resources Inc. toward their purchase of the Diablillos project in northwestern Argentina. Under the terms of the formal agreement, Silver Standard will pay a total of US$ 3.4 million for the project, with US$ 1.5 million in cash already paid, US$ 500,000 in cash or stock payable on or before each of June 30, 2002, December 31, 2002, and June 30, 2003 and US$ 400,000 on or before December 31, 2003. Silver Standard has issued 383,025 common shares to Pacific Rim to fulfill the June 30 and December 31, 2002 payments required under the terms of the agreement. The issuance is based on a 20-day weighted average share price of approximately US$2.61 per share. These shares have a four-month hold period expiring May 19, 2002, under applicable securities legislation. "We are very happy to have received the upcoming two payments toward the Diablillos project ahead of schedule," states Catherine McLeod-Seltzer, President. "These funds will be available for immediate advancement of the El Dorado project in El Salvador, which we anticipate will become part of Pacific Rim's project portfolio upon regulatory and shareholder approval of our recently announced merger with Dayton Mining Corporation." On behalf of the Board of Directors, Catherine McLeod-Seltzer, President The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from targeted results. These risks and uncertainties include but are not limited to the completion of all scheduled payments, the use of funds and the anticipated completion of a merger. FOR FURTHER INFORMATION PLEASE CONTACT: Pacific Rim Mining Corp., Catherine McLeod-Seltzer, President, (604) 689-1976 or Toll Free 1-888-775-7097, Email: info@pacrim-mining.com, Website: www.pacrim-mining.com, The TSE has neither reviewed nor accepts responsibility for, the adequacy or accuracy of this release. © 2001 Canadian Corporate News Inc. Bill