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UPDATE: Pacific Rim teams with OceanaGold to pursue El Dorado mine in El Salvador

A Pacific Rim media release today states, “(Vancouver-based) Pacific Rim Mining Corp. and (Melbourne-based) OceanaGold Corporation are pleased to announce … OceanaGold will purchase 42,150,000 common shares of Pacific Rim… Closing of the financing is expected to take place on or before October 3, 2012… Tom Shrake, President and CEO of Pacific Rim (says) ‘OceanaGold is a very solid mining group with the proven ability to efficiently build and operate mines in challenging jurisdictions… Importantly, this strategic financing enables Pacific Rim to move forward with the final stage of the El Dorado arbitration case. We remain optimistic the Government of El Salvador will see the economic benefits of our precedent-setting environmental design for the El Dorado mine…’ …Upon closing of the transaction, OceanaGold will own and control approximately 19.98% of Pacific Rim’s issued and outstanding share capital.” For more on Pacific Rim and the El Dorado mine, please see http://canadians.org/blog/?p=15555.