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

To: James G. who wrote (9396)	4/2/1998 12:32:00 PM
From: Alex Harrington	Read Replies (1) \| Respond to of 14627

Here's the release: FOR FURTHER INFORMATION PLEASE CONTACT: Pacific Rim Mining Corp. Samantha Cramer (604) 689-1976 (604) 689-1978 (FAX) E-mail: pacrim@direct.ca pacrim-mining.com Neither the TSE nor the VSE has reviewed nor accepts responsibility for the adequacy or accuracy of this release. NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: PACIFIC RIM MINING CORP. SEC FILE 82-3611 TSE, VSE SYMBOL: PFG APRIL 2, 1998 Pacific Rim Finalizes Agreement to Acquire Fantasma Claims From Corriente VANCOUVER, BRITISH COLUMBIA--Pursuant to the news release issued on January 30, 1998, Pacific Rim Mining Corp. is pleased to announce that it has finalized its agreement to acquire 100 percent of the Fantasma Claims (600 Ha) and the Nunez Cateo (6000 Ha), in the Salta Province of Argentina, from Corriente Resources Inc. Under the Option Agreement, Pacific Rim is to issue to Corriente a maximum of 400,000 common shares, 100,000 of which were issued upon execution of the formal Option Agreement. The properties lie adjacent to the 30 percent Pacific Rim owned Diablillos property in northwestern Argentina, currently being explored under the supervision of Barrick Gold. The proximity of Fantasma to Diablillos is both strategically and geologically important to Pacific Rim as the claims cover a portion of a large fault block that hosts the Oculto deposit. Most of this block is covered by wind blown sand on the Fantasma Property. The Oculto deposit is controlled by a northeast striking fault zone that continues onto the Fantasma claims. The Oculto mineralization is open along strike to the southwest toward the Fanstasma property along this fault although widths are diminished. The most obvious target on Fanstasma is the continuation of the northeast fault zone, especially where the fault zone intersects a major north- south fault zone. Immediate plans for the project are to prepare the project for drilling. A July, 1997 resource calculation by Mine Development Associates of Reno, Nevada indicated that the Oculto zone hosts 91.3 million ounces of silver and 286,000 ounces of gold. The strike length of the deposit has been increased by 30 to 40 percent since that time, and an updated scoping study will be undertaken by MDA during the summer. During March, one million non-transferable warrants were exercised at $0.75 each netting Pacific Rim $C 750,000, bringing working capital to approximately $C 10.6 million Pacific Rim Mining Corp. is a precious metal exploration company concentrating on high quality exploration opportunities in Latin America. Its portfolio includes the advanced stage Diablillos property in northwestern Argentina, and a portfolio of grass-roots properties in northwestern Argentina. The addition of the Fantasma claims solidifies PFG's strategic land position surrounding the Diablillos concession. On behalf of the board of directors, Catherine McLeod-Seltzer, President