Statement Filed in Arbitration Case Against El Salvador; PacRim Seeks Damages of US $315 Million

Statement Filed in Arbitration Case Against El Salvador; PacRim Seeks Damages 
of US $315 Million 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/01/13 -- Pacific
Rim Mining Corp. (TSX:PMU)(OTCQX:PFRMF) ("Pacific Rim" or the
"Company") announces that its US subsidiary PacRim Cayman, LLC
("PacRim") has now filed the statement of claim (the "Memorial") in
its arbitration case (the "Arbitration") against the Government of El
Salvador. The Arbitration, now in its final, merits-based phase, is
being heard under the Salvadoran Investment Law by a Tribunal of
three members at the World Bank's International Centre for Settlement
of Investment Disputes ("ICSID") in Washington, DC.  
In this final phase of the Arbitration, the merits of PacRim's claims
as outlined in the Memorial will be addressed. The Tribunal will
determine whether El Salvador has breached the Salvadoran Investment
Law by refusing to issue the necessary mining licences for the El
Dorado gold project. They will also determine El Salvador's monetary
liability for breaching the investment protections owed to a foreign
investor under these laws. The Memorial is supported by detailed
statements of multiple expert witnesses in the fields of economic
geology, mine financing, environmental science and international
mining law.  
Based on a March 28, 2013 valuation (the "Valuation") performed by an
independent expert, PacRim is seeking compensation in the amount of
US$ 315 Million (including prejudgment interest) for its losses
caused by the Government of El Salvador's breaches of the Salvadoran
Investment Law. Additional information regarding the Valuation is
provided below.  
Tom Shrake, President & CEO, states, "The filing of the Memorial
represents a significant milestone in the Arbitration. We are very
confident in the merits of our case and our ability to receive
fair-value for our expropriated assets. Unfortunately, we are not
alone. Because of a pattern of mistreatment of foreign investors by
the Government of El Salvador, the country is now the single worst
jurisdiction in all of Latin America in attracting foreign investment
and the slowest growing economy in Central America for the eighth
consecutive year. Poverty has skyrocketed to 47.5% of the population,
an increase of approximately 10%, over the same eight-year period. We
continue to reach out to the Government of El Salvador to end this
dispute to allow our Salvadoran employees to get back to work." 
The El Dorado Mine, as designed and submitted to the Salvadoran
authorities eight years ago, set new precedents for environmental
protection in all of the Americas and exceeds current Canadian and US
environmental standards. Preservation of water quality and quantity
is a key component of the industry-leading El Dorado mine design.
Water for ore processing is to be collected in a reservoir in the
subtropical ecosystem and not drawn from local water supplies. The
water used by the operation will be extensively recycled and any
water discharged from the reservoir will be processed by a water
treatment plant. Water leaving the reservoir will be significantly
cleaner than it was when it arrived on site and will provide a clean
water source for local villages.  
Had El Salvador followed its own laws, the El Dorado Mine would be in
operation today, employing thousands of Salvadorans in one of the
poorest regions of the country. The El Dorado operation would be the
single greatest taxpayer in El Salvador.  
For background information regarding the Arbitration, readers are
referred to Pacific Rim news releases # 12-05, #11-06, #10-07, #09-08
and #09-03 available at www.pacrim-mining.com and to the Company's
20-F and AIF filings. 
On behalf of the board of directors, 
Thomas C. Shrake, President and CEO 
Forward-Looking Information 
This news release contains forward-looking statements that are
subject to a variety of risks and uncertainties, any of which could
cause actual events or results to differ from those reflected in the
forward-looking statements, including, without limitation: risks
related to the outcome of these legal proceedings; risks related to
financing; risks related to development of mining operations in El
Salvador and the economic impact of those operations; environmental
risks; and other risks and uncertainties related to the Company's
prospects, properties and business detailed in the Company's most
recent quarterly and annual report and AIF filings. Should one or
more of these risks and uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those described in forward-looking statements.
Investors are cautioned against attributing undue certainty to
forward-looking statements.  
Valuation Details  
The March 28, 2013 Valuation included in PacRim's Memorial submitted
to ICSID on March 29, 2013 was prepared on behalf of PacRim by Mr.
Howard Rosen and Ms. Jennifer Vanderhart of FTI Consulting Inc., a
firm independent of and arms-length to Pacific Rim Mining Corp. and
all of its subsidiaries. Both Mr. Rosen and Ms. Vanderhart are
considered experts in the field of economic analysis, valuation, and
the quantification of damages, and both authors have experience
providing witness testimony in arbitration proceedings similar to
PacRim's Arbitration. 
The Valuation was prepared in conformity with the Practice Standards
of the Canadian Institute of Chartered Business Valuators ("CICBV")
and the Practice Standards applicable to Valuation Reports as defined
by CICBV. The damages quantified in the Valuation represent the
authors' opinion as to the fair market value of PacRim's El Salvador
mineral properties as at March 10, 2008, being the date immediately
preceding the notification issued by the Government of El Salvador on
March 11, 2008 indicating that the country was suspending all mining
activity. The Valuation was prepared using multiple approaches and
economic analyses. 
The TSX has neither reviewed nor accept responsibility for the
adequacy or accuracy of this release. 
Contacts:
Pacific Rim Mining Corp.
Thomas C. Shrake
President and CEO
604-689-1976
www.pacrim-mining.com
 
 
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