VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 11, 2006) - Pacific Rim Mining Corp. ("Pacific Rim" or "the Company") (TSX:PMU)(AMEX:PMU) is pleased to announce the latest drill results from the El Dorado project. Follow-up drilling is currently focusing on extending two significant new drill hits. Drill hole P06-459 intersected 2.7 meters averaging 17.41 g/t gold in the Deep Minita vein zone between the Minita and South Minita deposits. Hole P06-448 drilled through the Nueva Esperanza resource into the Los Jobos vein to the east, which averaged 15.84 g/t gold over a width of 1.15 meters. Los Jobos is a N-NE striking vein that splays off the main Minita vein zone and has high grades over potentially mineable widths on the surface.
Recently drill activity has focused on exploration in and around the main development site as well as geotechnical data collection (oriented core and materials characterization tests for infrastructure sites) and tailings site condemnation drilling. The data collected will be used in the Company's feasibility study currently in progress that is focusing on expanding the operation proposed in the January 2005 pre-feasibility study to include both the Minita and South Minita deposits. The following table outlines the latest results from this ongoing drill program. A complete list of drill results from the El Dorado gold project is available on the Company's website www.pacrim-mining.com.
Latest El Dorado Project Drill Results
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Drill
hole
UTM azi- From To Inter- True
Vein North- muth/ (met- (met- sec- Wid-
or ing/ dip ers ers tion th Sil-
Hole System East- (degr- down down met- (met- Gold ver
No. Tested ing ees) hole) hole) ers) ers) (g/t) (g/t)
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P06-443 South 300300/ 261/
Minita 534420 68 153.65 154.65 1.00 1.00 9.217 228
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P06-444 South 300240/ 268/
Minita 534388 74 277.25 278.45 1.20 0.90 13.392
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P06-445 South
Minita 300377/ 270/
534328 65 260.70 261.15 0.45 0.45 40.164
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305.95 308.25 2.30 1.80 9.682
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331.45 336.15 4.70 4.25 7.738
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P06-446 South 300493/ 274/
Minita 534304 62 227.30 229.20 1.90 1.55 7.386 43
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284.75 285.95 1.20 1.20 10.010 96
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300.45 300.65 0.20 0.20 18.333 176
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317.95 320.35 2.40 2.00 17.013 143
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includes 317.95 319.20 1.25 1.05 26.312 229
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P06-447 South 300415/ 256/
Minita 534210 68 173.50 175.40 1.90 1.90 7.042
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includes 175.20 175.40 0.20 0.20 37.038
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256.70 259.30 2.60 2.40 11.030 134
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includes 257.45 258.20 0.75 0.73 23.123 297
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265.10 265.25 0.15 0.10 49.641 569
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281.75 282.15 0.40 0.35 7.034 86
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323.65 324.35 0.70 0.70 9.686 46
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438.05 438.20 0.15 0.15 19.444 178
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443.05 443.25 0.20 0.20 28.133 331
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P06-448 Nueva 302575/ 090/
Esperanza 534165 50 62.25 64.30 2.05 2.00 9.170 67
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includes 62.25 62.55 0.30 0.30 11.428 81
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and 63.45 63.65 0.20 0.20 30.139 185
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and 64.00 64.30 0.30 0.30 16.091 182
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66.05 66.90 0.85 0.75 8.233 4
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69.40 70.10 0.70 0.60 11.373 19
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237.20 238.60 1.40 1.15 15.843 84
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includes 237.20 237.90 0.70 0.55 26.659 146
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P06-449 Rosa-
rio
Veta 301170/ 240/
Grande 534579 45 101.30 101.50 0.20 0.20 12.354 138
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101.65 102.40 0.75 0.60 9.771 54
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186.25 186.40 0.15 0.15 33.471 140
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P06-450 Cancha 300655/ 270/
Zone 534110 50 NO SIGNIFICANT RESULTS
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P06-451 Rosa-
rio
Veta 240/
Grande 65 137.35 137.75 0.40 0.35 14.946 101
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175.20 178.15 2.95 2.30 7.224 57
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P06-452 Nueva 533956/ 90/
Esperanza 302572 65 NO SIGNIFICANT RESULTS
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P06-453 Cancha 533975/ 270/
Zone 300905 50 NO SIGNIFICANT RESULTS
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P06-454 Rosa-
rio
Veta 534579/ 240/
Grande 301170 45 143.45 144.70 1.25 1.20 9.184 31
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167.25 168.20 0.95 0.70 33.668 163
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174.35 174.75 0.40 0.30 14.799 90
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P06-455 Rosa-
rio
Veta 301170/ 240/
Grande 534579 60 10.60 12.10 1.50 1.50 6.031 11
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162.80 163.05 0.25 0.20 13.048 127
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163.75 163.95 0.20 0.15 9.569 61
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P06-456 Cancha 301105/ 090/
533775 50 NO SIGNIFICANT RESULTS
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P06-457 Nueva 302848/ 072/
Esperanza 533997 66 247.40 250.15 2.75 2.20 6.896 36
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P06-458 Guada- 300640/ 232/
lupe 534635 50 NO SIGNIFICANT RESULTS
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P06-459 Deep 301239/ 090/
Minita 533895 50 442.50 446.80 4.30 2.70 17.471 151
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P06-460 Condem-
nation NO SIGNIFICANT RESULTS
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P06-461 Guada- 300835/ 250/
lupe 534839 52 84.90 85.05 0.15 0.15 10.905 88
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P06-462 Guada- 300716/ 227/
lupe 534560 70 128.30 128.50 0.20 0.20 25.711 334
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P06-463 Nueva 303012/ 090/
Esperanza 534047 45 NO SIGNIFICANT RESULTS
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P06-464 Deep 301299/ 090/
Minita 534036 67 316.65 318.00 1.35 0.90 8.392 57
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342.30 343.75 1.45 1.45 4.215 4
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346.65 346.85 0.20 0.20 13.265 84
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P06-465 Rampa 300621/ 250/
Vein 534889 52 RESULTS PENDING
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P06-466 Nueva 303012/ 110/
Esperanza 534044 75 NO SIGNIFICANT RESULTS
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P06-468 Rampa 300705/ 250/
Vein 534869 52 358.20 361.90 3.70 3.40 4.270
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Upcoming Plans
Pacific Rim has completed the geotechnical drilling and is currently drilling in and around the two new drill hits at Deep Minita and Los Jobos to test the resource potential for these new discoveries. A handful of delineation drill holes are also required in the South Minita resource area for input to the feasibility study. One drill rig will be dedicated to this effort once the drill hole locations have been received by the Company's feasibility consultants.
The Company awaits the approval of the exploration drilling permit for its high-priority south El Dorado targets, which is expected to be granted shortly. Once approved, the exploration drilling program will begin to test the numerous high-priority targets defined in the south El Dorado district over the past months including: the southern extension of the Minita vein system, the high-grade Nance Dulce vein system, the Hacienda vein and the Gallardo vein. At the nearby Santa Rita project, the Company is constructing an access road and is currently negotiating surface rights agreements with the local land owners. The Trinidad vein on the Santa Rita project hosts high grade gold over a roughly 500 meter strike length (between 6.4 g/t gold and 118.3 g/t gold over widths of 1-2 meters - see news release # 05-15 dated September 12, 2005) and represents a exciting high-grade gold target with considerable blue sky potential.
About Pacific Rim Mining Corp.
Pacific Rim is a growth-oriented, revenue-generating, environmentally and socially responsible gold exploration company with operational and exploration assets in North, Central and South America. The Company is expanding and developing its advanced-stage, high grade El Dorado gold project in El Salvador and is actively exploring a pipeline of grassroots gold projects. Pacific Rim's goal is to become a low cost, intermediate level gold producer.
On behalf of the board of directors,
Thomas C. Shrake, President and CEO
NI 43-101 Disclosure
Pacific Rim's exploration work on the El Dorado project is supervised by William Gehlen a Certified Professional Geologist with the AIPG (No. 10626), an employee of Pacific Rim and a Qualified Person as defined in NI 43-101. Mr. Gehlen has verified that the drill results presented above have been accurately summarized from the official assay certificates provided to the Company. Pacific Rim's drill sampling procedures follow the Exploration Best Practices Guidelines outlined by the Mining Standards Task Force and adopted by The Toronto Stock Exchange. Samples have been assayed using fire assay with a gravimetric finish on a 30-gram split. Quality control measures, including check- and sample standard-assaying, are being implemented. Samples were assayed by Inspectorate America Corporation in Reno, Nevada USA, an ISO 9002 certified laboratory, independent of Pacific Rim Mining Corp.
The July 2006 El Dorado resource estimate was prepared by Mr. Steve Ristorcelli, P.Geo. of Mine Develoment Associates, Reno, Nevada. Mr. Ristorcelli is an independent Qualified Person as defined in NI 43-101. The resource estimate conforms to current CIM Standards on Mineral Resources and Reserves. A technical report in support of the updated El Dorado resource estimate presented above was filed with SEDAR on July 31, 2006. The report was co-authored by Mr. Steve Ristorcelli, P.Geo. and Mr. Peter Ronning, P.Eng., each of whom are independent Qualified Persons as defined in NI 43-101.
The January 2005 El Dorado pre-feasibility study is supported by a technical report prepared for Pacific Rim Mining Corp. by SRK Consulting (US) Inc. of Denver Colorado, entitled "Pre-Feasibility Study, El Dorado Project, El Salvador", dated January 21, 2005 and publicly available on SEDAR (www.sedar.com). The primary author of the report is Mr. William F. Tanaka, a Qualified Person independent of Pacific Rim, as defined in NI 43-101. Mr. Tanaka is a member of the Society of Mining Engineers (SME) and the Australasian Institute of Mining and Metallurgy (mAUSIMM).
Cautionary Note Regarding Forward-Looking Information
Information set forth in this document includes forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Pacific Rim's control, including but not limited to: anticipated drilling plans for the El Dorado project; the eventuality and timing of receipt of drilling permits for the south El Dorado claims; the eventuality and timing of surface rights and access agreements at Santa Rita; statements of the Minita deposit's economic potential; information included in the pre-feasibility study such as capital and operating costs, projected production summaries, gold and silver prices and financial analysis; the impact of the South Minita gold zone on the project's economics; the timing and nature of economic analyses at the El Dorado project; the execution and outcome of current or future exploration activities; significant fluctuations in metal prices; general market and industry conditions; and other factors detailed in the Company's filings with Canadian regulatory agencies and the U.S. Securities and Exchange Commission.
Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Pacific Rim's actual results, programs and financial position could differ materially from those expressed in or implied by these forward-looking statements.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. This news release may include such terms as "measured," "indicated," and "inferred" "resources" that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 001-31328, which may be secured from us, or from the SEC's website at www.sec.gov/edgar.shtml.
FOR FURTHER INFORMATION PLEASE CONTACT:
Pacific Mining Corp.
Thomas C. Shrake
President and CEO
(604) 689-1976 or Toll Free: 1-888-775-7097
(604) 689-1978 (FAX)
info@pacrim-mining.com
www.pacrim-mining.com
