Pacific Rim Mining Announces Fiscal 2014 First Quarter Results

Pacific Rim Mining Corp. ("Pacific Rim" or "the Company") (TSX:PMU)(OTCQX:PFRMF)
reports its financial and operating results for the first quarter ended July 31,
2013. Details of the Company's financial results are provided in its interim
consolidated financial statements and Management's Discussion and Analysis
("MD&A") that will be publicly filed and made available to shareholders shortly.
Shareholders are strongly encouraged to review these documents. All monetary
amounts are expressed in United States ("US") dollars unless otherwise stated. 


Pacific Rim is a mineral exploration company focused on high grade,
environmentally clean gold deposits in the Americas and committed to excellence
in environmental stewardship and social responsibility. Pacific Rim's primary
asset is the advanced-stage, vein-hosted El Dorado gold deposit in El Salvador,
where the Company also owns several grassroots gold projects. 


All references to "Pacific Rim" or "the Company" encompass the Canadian
corporation, Pacific Rim Mining Corp, its U.S. subsidiaries (Pac Rim Cayman LLC
("PacRim"), Pacific Rim Exploration Inc., and Dayton Mining (U.S.) Inc.), and
Salvadoran subsidiaries (Pacific Rim El Salvador, S.A. de C.V. ("PRES") and
Dorado Exploraciones, S.A. de C.V. ("DOREX"), inclusive.


During Q1 2014 the Company, on behalf of its US subsidiary PREx, informed
Corazon Gold Corp. of its intent not to proceed further with its option
agreement to acquire a 65% joint venture interest in the Hog Ranch property
("Hog Ranch" or the "Property") in Nevada, described more fully in the Company's
Q1 2014 MD&A.


The Company's business activity is primarily focused at present on resolving the
El Dorado project permitting impasse. The El Dorado project is the subject of an
arbitration claim (the "Arbitration") (more thoroughly described in the
Company's Q1 2014 MD&A and Fiscal 2013 MD&A) being heard at the International
Center for the Settlement of Investment Disputes ("ICSID") at the World Bank.
Notwithstanding the ongoing legal action, the Company continues to seek a
negotiated resolution to the El Dorado permitting impasse in order to resume its
advancement of the El Dorado project.


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.


Overall Financial Performance

Pacific Rim is an exploration company that relies on cash and cash equivalents
to fund its exploration and general and administrative expenses. 


The Company recorded a net loss of $(0.7) million or $0.00 per share for the
three months ended July 31, 2013, which was $0.1 million higher than for Q1 2013
($(0.6) million or $0.00 per share). While the Company's operating loss for Q1
2014 was slightly lower than for Q1 2013 ($(0.6) million and $(0.7) million
respectively) as a result of slightly lower expenses quarter over quarter, a
small gain on derivative liability booked during Q1 2013 partially offset the
operating loss for that quarterly period.


During Q1 2014 the Company's cash and cash equivalents decreased by $0.4 million
from $0.9 million at April 30, 2013 to $0.5 million at July 31, 2013. Short-term
investments decreased from $0.5 million at April 30, 2013 to $nil at July 31,
2013. As a result of these decreases in cash and cash equivalents and short-term
investments, current assets decreased by $0.9 million during Q1 2014, from $1.5
million at April 30, 2013 to $0.6 million at July 31, 2013. This decrease
reflects the redemption of short term investments and the subsequent
expenditures of cash on general and administrative costs associated with
maintaining a public company, exploration project-related expenses, and expenses
related to the Arbitration action.


At July 31, 2013 the Company had current liabilities of $1.7 million, $0.3
million lower than the April 30, 2013 balance of $2.0 million, which reduction
is due to a decrease in accounts payable and accrued liabilities. The $0.9
million decrease in current assets combined with the small decrease in current
liabilities, resulted in a $0.6 million decrease in working capital from $(0.5)
million at the end of fiscal 2013 to $(1.1) million at the end of Q1 2014.


Outlook

Exploration

While no substantial exploration programs are envisioned at this time for fiscal
2014, the Company will undertake work and make various expenditures required to
keep all of its exploration projects in good standing. The Company will continue
to curtail its exploration programs and expenditures in El Salvador until such
time as PRES receives the El Dorado environmental permit and exploitation
concession. The Company remains hopeful that it will either receive the El
Dorado permit and mining concession or that it will be appropriately
compensated. 


(The foregoing paragraph contains forward-looking statements regarding the
Company's exploration plans and anticipated costs during fiscal 2014 and beyond,
its efforts to settle the El Dorado permit impasse, and its requirements for
additional funding. See Forward-Looking Information.)


General and Administrative and Legal

As a result of recently adopted measures aimed at reducing its staffing costs,
the Company's general and administrative costs are expected to be marginally
reduced during fiscal 2014. Additional working capital (likely through equity
financing) will be required in the near-term and future to fund ongoing general
and administrative costs. Expenditures related to the Arbitration claim are
expected to be substantial as the case proceeds through the final phase. Though
the Company has signed a service and fee agreement with its Arbitration legal
counsel, ancillary Arbitration-related expenses such as expert witnesses, court
costs, etc. are less certain and likely to be substantial. 


The Arbitration action is expected to proceed during fiscal 2014 and beyond.
Having submitted its Memorial in late fiscal 2013, the Company and its legal
counsel are currently awaiting the GOES's submission of its Counter-Memorial
anticipated in January 2014. This submission will be followed by oral testimony
by both parties before the Tribunal. Based on these submissions and testimonies,
the Tribunal will determine whether El Salvador has breached Salvadoran and
international law by refusing to issue the necessary mining licenses for the El
Dorado Mine. They will also determine El Salvador's monetary liability for
breaching the investment protections owed to a foreign investor as per in its
own laws. The final phase of the Arbitration case is expected to continue
through fiscal 2014 and potentially beyond.


(The foregoing paragraph contains forward-looking statements regarding
anticipated general and administrative and legal expenses during fiscal 2014;
anticipated schedule of events through the final phase of the Arbitration; and
management's expectations regarding expected Arbitration costs and its ability
to manage these expenses. See Forward-Looking Information.)


Key Issues

Important corporate and technical issues facing the Company in the coming months
(and beyond) include: the Company's ability to secure adequate future financing
for general working capital purposes, ongoing Arbitration-related costs, and
exploration project-related expenses including maintenance of the El Salvador
properties; developments related to the Arbitration action; ongoing efforts to
reach a resolution to the El Dorado permitting impasse with the GOES;
developments related to the potential signing of a formal option agreement to
acquire the Remance project and the subsequent undertaking of an exploration and
drilling program at Remance if, as, and when it is formally acquired; and, the
continued search for additional exploration project opportunities. The Company
has been successful in raising funds through equity financing in the past but
there can be no assurance that such financing will be available in the future,
or if so, available under favourable terms. The Company is currently exploring
strategic alternatives to secure necessary financing. Readers are strongly
encouraged to review the information provided in Sections 6 and 13. Readers are
strongly encouraged to review the information provided in Section 13 - Risks and
Uncertainties of the Q1 2014 MD&A and more thoroughly detailed in Section 14 of
the Company's fiscal 2013 MD&A.


(The foregoing paragraph contains forward-looking statements regarding
management's assessment of the key issues facing the Company during fiscal 2014
and the requirement for additional financing. See Forward-Looking Information.)


On behalf of the board of directors,

Thomas C. Shrake, President and CEO

Forward-Looking Information

The information contained herein contains "forward-looking statements" within
the meaning of Section 21E of the United States Securities Exchange Act of 1934
(as amended) and applicable Canadian securities legislation. Forward-looking
statements relate to analyses and other information that are based on forecasts
of future results, estimates of amounts not yet determinable and assumptions of
management. Any statements that express predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or performance are
not statements of historical fact and may be "forward-looking statements."
Statements concerning reserves and mineral resource estimates may also be deemed
to constitute forward-looking statements to the extent that they involve
estimates of the mineralization that will be encountered if the property is
developed, and in the case of mineral reserves, such statements reflect the
conclusion based on certain assumptions that the mineral deposit can be
economically exploited.


This report contains forward-looking statements regarding:



--  the Company's future financing requirements and the use of funds that
    may be raised. These assumptions are based on management's estimate of
    working capital requirements and past expenditures. There are no
    guarantees that future financing will be available to the Company under
    acceptable terms and conditions. Readers are cautioned that without
    additional financing the Company's ongoing exploration plans may not be
    carried out as anticipated and its ability to continue its business may
    be at risk. 
--  the Company's assessment of expected legal costs associated with the
    Arbitration and its ability to meet these costs based on current cash
    and cash equivalent balances, as well as management's assessment that
    unanticipated Arbitration costs may arise for which additional financing
    may be required. The Company's expectation that it can meet the expected
    legal expenses during the final phase of the Arbitration is based on its
    understanding of costs laid out in the service and fee agreement with
    its legal counsel as well as its understanding of potential additional
    costs. Arbitration-related costs not covered by the service and fee
    agreement will be incurred, and other unanticipated costs related to the
    Arbitration may cause these assumptions to change, either or both of
    which may necessitate the Company to secure additional financing in
    order to complete the Arbitration. There can be no guarantee that
    additional financing will be available to the Company under acceptable
    terms and conditions. 
--  the scope of exploration and generative work programs management plans
    to undertake during fiscal 2014 and in the foreseeable future. These
    expectations are based on various assumptions including but not limited
    to: the Company's ability to secure financing; the Company and/or its
    subsidiary's signing of a Formal Agreement to acquire the Remance
    project; the Company and/or its subsidiaries' continued title and access
    to the El Dorado, Santa Rita and Zamora-Cerro Colorado properties; the
    availability and accessibility of projects the Company may be interested
    in acquiring; the ability to procure adequate experienced staff; the
    availability of contractors; and other risks and uncertainties. Should
    any of these assumptions prove incorrect or requirements not be met, the
    Company's project generation and exploration for fiscal 2014 and beyond
    may not occur as planned. 
--  the Company's exploration plans and anticipated costs for fiscal 2014
    and beyond . The anticipated exploration expenditures reflect
    estimations made by management based on current levels of expenditure
    and anticipated work programs as described previously. Should unexpected
    costs arise, exploration expenditures may differ from those currently
    anticipated. 
--  the Company's intent to forego significant exploration work at the El
    Salvador projects until certain permits are granted, the implication
    being that if and when these permits are granted increased investments
    in exploration will be made in El Salvador. Readers are cautioned that
    this statement conveys management's intent but that resumption of a
    large-scale exploration program at the El Salvador projects is dependent
    on not only the PRES's receipt of the El Dorado permit but also the
    availability of adequate financing, the ability to procure adequate
    experienced staff, the availability of contractors, and other risks and
    uncertainties. Should any of these assumptions prove incorrect or
    requirements not be met, the Company's project generation and
    exploration plans for fiscal 2014 may not occur as planned. 
--  anticipated general and administrative, and legal expenses and the
    requirement for additional financing to fund general working capital
    expenses and potential, unanticipated legal costs. These statements are
    based on management's assumption the Arbitration action will continue
    through fiscal 2014 and the expected costs of pursuing this action, plus
    the Company's anticipated burn rate for general and administrative
    costs. Should PRES receive the El Dorado permits at any time, the
    necessity to continue the Arbitration action may be averted and the
    anticipated impact on general and administrative costs may not
    materialize.



Forward-looking statements are subject to a variety of risks and uncertainties,
which could cause actual events or results to differ from those reflected in the
forward-looking statements, including the risks and uncertainties outlined above
and other risks and uncertainties related to the Company's prospects, properties
and business detailed in its Fiscal 2013 MD&A, in the Company's Annual
Information Form for the year ended April 30, 2013 and in the Company's most
recent Annual Report on Form 20F filed with the US Securities and Exchange
Commission. 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. The
Company does not undertake to update any forward-looking statements that are
incorporated by reference herein, except in accordance with applicable
securities laws. 


National Instrument 43-101 Disclosure

Mr. William Gehlen, Vice President Exploration, supervises Pacific Rim's
exploration work on the El Dorado project. Mr. Gehlen is a Certified
Professional Geologist with the AIPG (No. 10626), an employee of the Company and
a Qualified Person as defined in NI 43-101. 


Mr. David Ernst, Chief Geologist, supervises the Company's project generation
initiatives and conducted due diligence geological investigations and
confirmatory sampling at the Remance Project . 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. 


Pacific Rim's sampling procedures follow the Exploration Best Practices
Guidelines outlined by the Mining Standards Task Force and adopted by The
Toronto Stock Exchange. 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 Mining Corp.


The TSX has neither reviewed nor accept responsibility for the adequacy or
accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pacific Rim Mining Corp.
[phone]
[phone] (FAX)
[e-mail]
www.pacrim-mining.com