Pacific Rim Mining Signs Letter of Intent to Acquire Majority Interest in Hog Ranch Property, Nevada

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 Letter of Intent ("LOI") with ICN Resources Ltd. ("ICN") and Washoe
Gold Inc. ("WGI") (collectively with the Company and PREx, the "Parties") to
acquire a 65% interest in the Hog Ranch Property located in Washoe County,
Nevada.


"The Hog Ranch Property offers an excellent opportunity for the discovery of
high-grade gold mineralization in a pro-mining jurisdiction," says Tom Shrake,
President and CEO of Pacific Rim. "We are extremely excited to have this
opportunity to apply our unique technical perspective exploring the feeder zones
of low-sulfidation epithermal gold systems, where we have had significant past
successes. Hog Ranch has been historically mined for bulk mineable,
near-surface, heap-leachable deposits. Our focus will be on Hog Ranch's
high-grade underground deposit potential. Our exploration strategy is to seek
out exploration projects with the best odds of success. We are thrilled to have
identified another project that meets our high standards of above-average
exploration potential combined with low environmental risk. We look forward to
completing our due diligence and moving forward exploring Hog Ranch with an
outstanding partner at our side."


As per the LOI, the Parties intend to enter into a Definitive Agreement on or
before June 1, 2011 (subject to approval of the board of directors of Pacific
Rim and ICN, and regulatory approval, including the approval of the TSX and the
TSX Venture Exchange), which will provide for the grant to PREx of an 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 our 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 in the LOI); 
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 TSX Venture
    Exchange; 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, will be 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 early1990'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
some 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.


A 30-day due diligence period is now underway, during which Pacific Rim will
conduct a final review of legal, land tenure and geological information on the
Hog Ranch Property and generate an exploration plan for advancing the property.


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

For further information visit www.pacrim-mining.com.

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 outcome of the
Company's due diligence investigations; issues that may influence the signing of
the Definitive Agreement such as 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.
Icn Resources Ltd. (TSXV:ICN)
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