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Re: 2008 News Releases - Friday, February 29, 2008
Pacific Rim Closes Private Placement Financing
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Pacific Rim Mining Corp. ("Pacific Rim" or "the Company") is pleased to
announce that it has closed its previously announced private placement
financing. A total of CDN $7,046,550 was raised through the issuance
of 6,711,000 units ("Units"), consisting of one common share (a
"Share") and one share purchase warrant ("Warrant"), with each Warrant
exercisable into one Share for a period of 18 months at an exercise
price of $1.35. Further details of the terms of the financing are
available in the Company's news releases # 08-03 and 08-04 dated
February 6 and February 19, 2008 respectively.

The Company has also issued 350,350 warrants ("Finder's Warrants") and
paid an aggregate of $367,867.50 in cash to certain finders in
connection with the private placement. Each Finder's Warrant is
exercisable into one Share for a period of 18 months at an exercise
price of $1.11.

The Shares, Warrants, Finder's Warrants are subject to a four-month
hold period as required under applicable Canadian securities law,
expiring June 30, 2008. The common shares underlying the Warrants and
Finder's Warrants will also be subject to a hold period expiring June
30, 2008 if the Warrants and Finder's Warrants, as applicable, are
exercised prior to that date.

The proceeds of the financing will be used to fund the Company's El
Dorado and Santa Rita work programs, which the Company intends to
accelerate upon the passing in El Salvador of new mining legislation
that is expected in the coming months, and for general corporate
purposes.

The Shares, Warrants, shares underlying the Warrants, and the Finder's
Warrants are not currently qualified by prospectus or registered under
the U.S. Securities Act of 1933, as amended (the "Securities Act"), or
the laws of any state, and may not be offered or sold in the United
States absent registration or an applicable exemption from the
registration requirements. The securities are subject to resale
restrictions under applicable securities laws.

About Pacific Rim Mining Corp.
Pacific Rim is a growth-oriented, revenue-generating, environmentally
and socially responsible gold exploration company with operations in
North America and exploration assets in 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. The Company's shares trade
under the symbol PMU on both the Toronto Stock Exchange ("TSX") and the
American Stock Exchange ("AMEX").

On behalf of the board of directors,

"Thomas C. Shrake"

Thomas C. Shrake
President and CEO

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Copyright (c) 2008 PACIFIC RIM MINING CORP. (PMU) All rights reserved.
For more information visit our website at
http://www.pacrim-mining.com/ or send mailto:general@pacrim-mining.com
Message sent on Fri Feb 29, 2008 at 1:37:21 PM Pacific Time
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