Pacific Rim Receives NYSE Amex Notification

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Thu Nov 12, 2009 4:28pm EST

  VANCOUVER, BRITISH COLUMBIA, Nov 12 (MARKET WIRE) -- 
Pacific Rim Mining Corp. ("Pacific Rim" or the "Company") (TSX: PMU)(NYSE
Amex: PMU) has received notice from the NYSE Amex LLC ("NYSE Amex" or the
"Exchange") that, based on their review of the Company's fiscal 2010
first quarter results, the Company is not in compliance with Section
1003(a)(iii) of the Company Guide, having at July 31, 2009 stockholders'
equity of less than $6,000,000 while sustaining losses from continuing
operations and net losses in its five most recent fiscal years.

    In order to maintain listing of the Company's common shares on the NYSE
Amex, the Company must submit a plan to the Exchange by December 11, 2009
addressing how it intends to regain compliance with Section 1003(a)(iii)
by May 11, 2011.

    The Company will submit a plan (the "Plan") before the deadline of
December 11, 2009. If the Exchange accepts the Plan, then the Company may
be able to continue its NYSE Amex listing during the Plan period, up to
May 11, 2011, during which time the Company will be subject to periodic
review to determine whether it is making progress consistent with the
Plan. If the Company fails to submit a Plan acceptable to the Exchange,
or even if accepted, if the Company is not in compliance with the
continued listing standards at the end of the Plan period or the Company
does not make progress consistent with the Plan during the period, then
the Exchange may initiate delisting proceedings.

    "We intend to do everything in our power to rectify our non-compliance
issue and maintain our NYSE Amex listing," states Tom Shrake, President
and CEO of Pacific Rim. "Our current Exchange non-compliance is yet
another damage the Company has suffered due to the failure of the
Government of El Salvador to follow Salvadoran law and international law.
Our U.S. subsidiary, which holds our El Salvador assets, has filed a
claim against El Salvador under the Dominican Republic-Central
America-United States Free Trade Agreement and under El Salvador's
Investment Law, and this claim remains pending. We continue to seek a
resolution to the El Dorado permitting impasse and have been in regular
communication with the Government of El Salvador over the past several
months. We are hopeful that a resolution can be reached, and Technical
Secretary Alex de Segovia of the newly-elected Funes administration has
publicly stated the same. Upon resolution of the El Dorado permitting
issue, the Company intends to become an environmentally cutting-edge,
low-cost gold producer in El Salvador with significant exploration upside
in its numerous high-grade epithermal systems along the Central American
Mineral Belt."

    The Company's common shares continue to trade on the NYSE Amex under the
symbol "PMU" but will shortly become subject to the trading symbol
extension "BC" to denote non-compliance with the Exchange's continued
listing standards. The Company's common shares also continue to be listed
on the Toronto Stock Exchange ("TSX") in Canada under the symbol "PMU"
and that listing is not expected to be affected by the NYSE Amex
notification.

    About the Company

    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 primary asset and focus of its
growth strategy is the high grade, vein-hosted El Dorado gold project in
El Salvador. The Company owns several similar grassroots gold projects in
El Salvador and is actively seeking additional assets elsewhere in the
Americas that fit its project focus. All references to "Pacific Rim" or
"the Company" encompass the Canadian corporation, Pacific Rim Mining
Corp, and its U.S. and Salvadoran subsidiaries, Pac Rim Cayman LLC,
Pacific Rim El Salvador, S.A. de C.V., and Dorado Exploraciones, S.A. de
C.V., inclusive.

    On behalf of the board of directors,

    Thomas C. Shrake, President and CEO

    Forward-Looking Information

    Information set forth in this document may involve forward-looking
statements. By their nature, forward-looking statements are subject to
numerous risks and uncertainties, some of which are beyond Pacific Rim's
control, including: the submission of a Plan to regain compliance with
NYSE Amex listing standards on or before the deadline for such
submission; the acceptance of the Plan by the Exchange; the assessment by
the Exchange that adequate progress is being made in achievement of the
Plan; the ability of the Company to comply with NYSE Amex listing
maintenance standards in the future; the ongoing listing of the Company
on the Exchange; the outcome of any ongoing discussions with the
Government of El Salvador, aimed at securing the necessary permits for
the El Dorado project, in which the Company is involved; the outcome of
the Company's legal action against the Government of El Salvador; and the
ability of the Company to attain its goal of becoming a low-cost gold
producer in El Salvador. Readers are cautioned that the assumptions used
in the preparation of such information, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward-looking information. Pacific
Rim's actual results, programs and financial position could differ
materially from those expressed in or implied by these forward-looking
statements. Readers are urged to thoroughly review the Company's Risks
and Uncertainties as outlined in its 2009 Annual Report.

    The TSX and the NYSE Amex have neither reviewed nor accept responsibility
for the adequacy or accuracy of this release.

Contacts:
Pacific Rim Mining Corp.
Barbara Henderson
604-689-1976 or 1-888-775-7097
604-689-1978 (FAX)
general@pacrim-mining.com
www.pacrim-mining.com

Copyright 2009, Market Wire, All rights reserved.

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