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The following are important notices for all investors regarding the information contained on this website. Please read these Cautionary Notes carefully and thoroughly.
Forward-Looking Statements
This discussion contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 concerning the Company's plans for its properties, operations and other matters. These 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. 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. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." 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, without limitation:
· risks related to gold price and other commodity price fluctuations;
· risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits;
· risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses;
· results of initial feasibility, prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations;
· mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in production;
· the potential for delays in exploration or development activities or the completion of feasibility studies;
· the uncertainty of profitability based upon the Company's history of losses;
· risks related to failure to obtain adequate financing on a timely basis and on acceptable terms;
· risks related to environmental regulation and liability;
· risks related to hedging activities;
· political and regulatory risks associated with mining and exploration; and
· other risks and uncertainties related to the Company's prospects, properties and business strategy.
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. Forward looking statements are made based on management's beliefs, estimates and opinions on the date the 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. Investors are cautioned against attributing undue certainty to forward-looking statements.
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 statements. Pacific Rim Mining Corp.'s actual results, programs and financial position could differ materially from those expressed in or implied by these forward-looking statements, and accordingly, no assurance can be given that the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits Pacific Rim will derive therefrom.
Cautionary Note Regarding the Minita Pre-feasibility Study
The Minita pre-feasibility study was prepared to broadly quantify the Minita deposit's capital and operating cost parameters, and to further the development of the El Dorado gold project. It was not prepared for use as a valuation of the Minita deposit, nor should it be considered to be a final feasibility study. The information contained in the Minita pre-feasibility study reflects various technical and economic conditions at the time of writing. These conditions can change significantly over relatively short periods of time. The achievability of life of mine plans, budgets and forecasts are inherently uncertain. There can be no assurance that the potential results contained in the Minita pre-feasibility study will be realized. Readers are cautioned that the assumptions used in the preparation of the Minita pre-feasibility study, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on them.
Cautionary Note Regarding Resource Estimates
The terms "measured resource", "indicated resource" and "inferred resource" used on this website are Canadian mining terms as defined in NI 43-101 and CIM Standards on Mineral Resources and Mineral Reserves. Mineral resources that are not mineral reserves have not been demonstrated to be economically and legally extractable. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. It should not be assumed that all or any part of a resource will ever be converted to a reserve. These mineral resource estimates include inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred resources will be converted to measured and indicated resource categories through further drilling, or into mineral reserves once economic considerations are applied.
The term "bankable" in reference to a feasibility study is defined as a comprehensive analysis of a project's economics and is used by the banking industry for financing purposes.
Cautionary Note to US Investors
Pacific Rim advises U.S. investors that this website may contain the terms "inferred", "indicated" and "measured" "resources", which are recognized and required by NI 43-101 under Canadian regulations, but not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "inferred resource" will ever be upgraded to a higher category. Under Canadian rules, estimates of 'inferred resources" may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part of all of an inferred resource exists, or is economically or legally mineable. U.S. Investors are also cautioned not to assume that any part or all of mineral deposits in the "measured" or "indicated" resource categories will ever be converted into reserves. Mineral reserves have been calculated in accordance with NI 43-101 as required by Canadian securities regulatory authorities. For United States reporting purposes, SEC Industry Guide 7 (as interpreted by the staff of the Securities and Exchange Commission) applies different standards for the disclosure of reserves. U.S. investors are cautioned that the reserves presented in this document, while in compliance with Canadian standards and regulations, do not meet the following requirements of reserve disclosure under SEC guidelines: the Minita reserves are based on a pre-feasibility level study (as allowed under Canadian regulations) rather than a "final" or "bankable" level feasibility study as required by the SEC; and, the Minita reserves are calculated using current industry standard gold and silver prices of $350 and $5.00, respectively, rather than the historic three year average prices required by the SEC (which as at January 21, 2005, the date of the Minita reserve calculation, would have been a $360.94 gold price and $5.38 silver price). This website may also contain information about adjacent properties on which we have no right to explore or mine. We advise US investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. US investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
Cautionary Note Regarding Third Party Links
Pacific Rim has provided links from this website to several other websites arms length to the Company. The viewer should be aware that in linking to these outside websites, he or she is leaving the Pacific Rim website and that Pacific Rim Mining Corp. is not responsible for any aspect of the content of the other site.
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