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

To: Jeff Haworth who wrote (8051)	12/10/1997 8:24:00 PM
From: Quinn	Read Replies (1) \| Respond to of 14627

Here is a copy of the New Release put out by the management of PFG, after the market closed today: TSE listing Pacific Rim Mining Corp PFG Shares issued 18,271,370 Dec 10 close $1.45 Wed 10 Dec 97 News Release Ms Catherine McLeod-Seltzer reports The listing of the common shares of the company has been approved by the TSE. Pacific Rim Mining will trade on the TSE under the symbol PFG. Shares of Pacific Rim Mining will be posted for trading on the TSE effective at the opening on Thursday, December 11 1997. Pacific Rim Mining is a precious metal exploratin company concentrating on high quality exploratin opportunities in Latin America. Its portfolio includes the advanced stage Diablillos property in northwestern Argentina, the recently drilled Leticia property in Guerrero, Mexico, and a portfolio of grass-roots properties in northwestern Argentina. The Diablillos deposit has a geologic resource that potentially can be mined by open pit and processed by heap leaching. The strikelength of the deposit has been expanded by 38% since an independent resource calculation by Mine Development Associates in July 1997. The geologic resource totals 26 million tonnes containing 91 million ounces of silver and 286,000 ounces of gold. At current metal prices, the in situ value of the deposit is 85% silver. Infill drilling (10,000 to 15,000m) along the extension is planned for the first part of the year. Metallurgical work (column tests, which simulate heap leaching) is in progress. Diablillos is owned by a company in which Pacific Rim owns an indirect 30% interest and Barrick owns an indirect 70% interest. To maintain its interest, Barrick must make a production decision by June 26 2000 or elect to make exploration expenditures of $US4 million per year after that date, until such a production decision is made. The Diablillos silver deposit is the foundation from which Pacific Rim Mining will grow. Pacific Rim focuses on the types of deposits most likely to become low cost precious metal producers. The company is under the stewardship of Thomas C. Shrake, CEO and Catherine McLeod Seltzer, president, formerly of Gibraltar Mines and Arequipa Resources, respectively. These two companies created over $1.5 billion in shareholder wealth in 1996. The TSE listing symbolizes the strength of Pacific Rim's asset base, financial position, and management team. The listing provides for the distribution of Pacific Rim's common shares to a broader shareholder base. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com ~~~~~~