Pacific Rim Mining Finalizes Hog Ranch Property Joint Venture Acquisition

Pacific Rim Mining Corp. (TSX:PMU)(OTCQX:PFRMF) ("Pacific Rim" or the
"Company"), through its US subsidiary Pacific Rim Exploration Ltd. ("PREx"), has
signed a final Definitive Agreement with ICN Resources Ltd. ("ICN") and Washoe
Gold Inc. ("WGI") (collectively with the Company and PREx, the "Parties")
providing the Company with the option to acquire a 65% joint venture interest in
the Hog Ranch Property, Nevada (subject to regulatory approval, including the
approval of the TSX and the TSX Venture Exchange). The Company is now finalizing
a surface exploration and geophysical survey plan for Hog Ranch that it intends
to commence immediately. A drill program of approximately 15 Phase 1 holes is
expected to take place in early 2012.


"The Hog Ranch property is a great exploration opportunity of a similar caliber
to our outstanding asset base in El Salvador," says Tom Shrake, CEO of Pacific
Rim. "An epithermal gold system with potential for high grade underground veins,
Hog Ranch is exactly the type of deposit model that has been our sole focus for
almost a decade. These systems typically offer large operating margins and low
environmental risk. Northern Nevada hosts a number of high-grade vein-hosted
epithermal gold deposits in rocks of the same geologic age as Hog Ranch,
including the Midas, Sleeper and Ivanhoe deposits. Our technical team has
extensive experience with these types of deposits in Nevada and elsewhere and we
look forward to enhancing our understanding of the Hog Ranch system and testing
its above-average exploration potential."


As per the Definitive Agreement, PREx has been granted the option to acquire a
65% interest (the "Interest") in the Hog Ranch Property through the expenditure
of an aggregate of US$8 million in exploration expenditures and the issuance of
an aggregate of 1 million common shares of Pacific Rim, with annual extensions
dependent on results of exploration, according to the following schedule.


Exploration expenditures with respect to the property of up to US$8.0 million as
follows: 




i.  US$500,000 on or before the first anniversary of the effective date of
    the Definitive Agreement (as defined therein); 
ii. a further US$1,000,000 on or before the second anniversary of the
    effective date of the Definitive Agreement; 
iii.a further US$1,500,000 on or before the third anniversary of the
    effective date of the Definitive Agreement; 
iv. a further US$2,000,000 on or before the fourth anniversary of the
    effective date of the Definitive Agreement; 
v.  a further US$3,000,000 on or before the fifth anniversary of the
    effective date of the Definitive Agreement; and 



Share payments of up to 1.0 million shares as follows:



i.  200,000 common shares of Pacific Rim within five business days of
    receipt of approval of the Definitive Agreement by the applicable stock
    exchanges; and 
ii. 200,000 common shares of Pacific Rim on or before each of the second,
    third, fourth and fifth anniversaries of the effective date of the
    Definitive Agreement. 



Pacific Rim, through PREx, is the operator of the Hog Ranch Property. Upon PREx
earning the Interest, PREx and WGI agree to participate in a joint venture for
the further exploration and development of Hog Ranch. 


The Hog Ranch Property is located in Washoe County, Nevada, approximately 180 km
north of Reno, and consists of 465 unpatented claims and 239 hectares of fee
lands. Approximately 200,000 ounces of gold were produced at Hog Ranch from a
small heap leach mine operated by Western Goldfields and subsequently Western
Mining in the late 1980's and early 1990's. These low-grade ores were extracted
from the uppermost parts of a low-sulfidation epithermal system. Western Mining
reclaimed the mine site to regulatory approved conditions, including backfilling
the pits. 


Several companies have explored for low-grade gold mineralization and conducted
limited exploration in the deeper parts of the Hog Ranch epithermal system,
where higher grade feeder veins are likely to reside. Pacific Rim's focus is
high-grade banded epithermal veins recoverable in an underground operation. PREx
will take its usual approach of detailed geology with special attention to the
structural geology to identify these deeper drill targets.


About Pacific Rim Mining Corp.

Pacific Rim is an environmentally and socially responsible exploration company
focused exclusively on high grade, environmentally clean gold deposits in the
Americas. Pacific Rim's most advanced asset is the high grade, vein-hosted El
Dorado gold project in El Salvador, where the Company also owns several
grassroots gold projects. The Company is actively pursuing additional
exploration opportunities elsewhere in the Americas. All references to "Pacific
Rim" or "the Company" encompass the Canadian corporation, Pacific Rim Mining
Corp, and its: U.S. subsidiaries Pac Rim Cayman LLC ("PacRim"), Pacific Rim
Exploration Inc., and Dayton Mining (U.S.) Inc.; Salvadoran subsidiaries Pacific
Rim El Salvador, S.A. de C.V. ("PRES") and Dorado Exploraciones, S.A. de C.V.
("DOREX"); and, Panamanian subsidiary Minera Verde, S.A. ("Minera Verde")
inclusive. Pacific Rim's shares trade under the symbol PMU on the Toronto Stock
Exchange ("TSX") and on the OTCQX market in the US under the symbol PFRMF.


On behalf of the board of directors, 

Thomas C. Shrake, President and CEO

National Instrument 43-101 Disclosure

Mr. David Ernst, Chief Geologist, has conducted due diligence geological
investigations and confirmatory sampling at the Hog Ranch Property. Mr. Ernst is
geologist licensed by the State of Washington, an employee of Pacific Rim and a
Qualified Person as defined in NI 43-101 who is responsible for the technical
information provided herein.


Pacific Rim's sampling procedures follow the Exploration Best Practices
Guidelines outlined by the Mining Standards Task Force and adopted by the TSX.
Samples are 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 are assayed by Inspectorate America Corporation
in Reno, Nevada USA, an ISO 9002 certified laboratory, independent of Pacific
Rim.


Cautionary Note Regarding Forward-Looking Information 

Information set forth in this news release may involve forward-looking
statements under applicable securities laws. Forward-looking statements are
statements that relate to future, not past, events. In this context,
forward-looking statements often address expected future business and financial
performance, and often contain words such as "anticipate", "believe", "plan",
"estimate", "expect", and "intend", statements that an action or event "may",
"might", "could", "should", or "will" be taken or occur, or other similar
expressions. All statements, other than statements of historical fact, included
herein including, without limitation, statements about the Company's exploration
plans and timing; unforeseen legal, tenure or geological complications; and, the
ability of the Company to finance future Hog Ranch exploration plans, are
forward-looking statements. By their nature, forward-looking statements involve
known and unknown risks, uncertainties and other factors which may cause actual
results, performance or achievements, or other future events, to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include, among others,
the following risks: the need for additional financing; operational risks
associated with mineral exploration; fluctuations in commodity prices; title
matters; environmental liability claims and insurance; reliance on key
personnel; competition; dilution; the volatility of our common share price and
volume and the additional risks identified in our annual information form and
other filings with the TSX and applicable Canadian securities regulations.
Forward-looking statements are made based on management's beliefs, estimates and
opinions on the date that statements are made and the Company undertakes no
obligation to update forward-looking statements if these beliefs, estimates and
opinions or other circumstances should change, except as required by applicable
securities laws. Investors are cautioned against attributing undue certainty to
forward-looking statements.
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