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

To: Bill Jackson who wrote (8370)	1/6/1998 3:38:00 PM
From: Quickdraw	Read Replies (1) \| Respond to of 14627

Bill: I extracted this info from the "prospectus" regarding La Colorada. I believe Tom Shrake, in a previous posting, mislead us (inadvertently?) into believing the new "Puna Reconnaisance Properties" had replaced the La Colorada properties. There is also a write-up on the Puna Reconnaisance Properties in the Prospectus. These are the maps of the two properties from what I can see. pacrim-mining.com pacrim-mining.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ La Colorada Property, Province of Salta, Argentina Description of Property Agreements Pursuant to the terms of an option agreement dated December 17, 1992, between the Issuer and La Casualidad, S.A., an Argentinean corporation owned by the Province of Salta, as amended by extension agreement dated December 6, 1996, the Issuer has the option to acquire an undivided 100% right, title and interest in and to a rectangular block of 10 exploration permits and one constituted claim aggregating approximately 55,000 ha none of which are contiguous. Under the initial agreement the Issuer made an initial payment of US$300,000 to La Casualidad. To maintain its option the Issuer was to make semi-annual payments in nine instalments of US$50,000 on January 25 and July 25 in each year commencing January 25, 1994 and ending January 25, 1998 inclusive with a final cash payment of US$1,250,000 on or before July 25, 1998 for a total of US$2,000,000. The Issuer has paid US$350,000 to date. Under the terms of the amendment, payments to La Casualidad increased to US$100,000 on each of July 25, 1997 and January 25, 1998. An additional US$50,000 is payable on July 25, 1998 and the payment of US$1,250,000 has been extended to January 25, 1999, for total expenditures of US$2,150,000.