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Pacific Minerals Changes Name to Jinshan Gold Mines Inc. Jay Chmelauskas Appointed as New President.


March 8, 2004
Beijing, China --- The Board of Directors of Pacific Minerals (PMZ / TSXV) announced today that shareholders have approved the changing of the company's name to Jinshan Gold Mines Inc. The new name, which means Gold Mountain in Chinese, was chosen to more accurately reflect the company's focus on mineral exploration, development and production in China.
The Board also announced the appointment of Jay Chmelauskas as President effective immediately. Mr. Chmelauskas replaces Daniel Kunz, who will remain a director and executive advisor to the company.Â

"This will be an important year for the company to develop its prospects and I believe it is the appropriate time to turn the day-to-day management of the company to a full-time president," said Mr. Kunz. "With several years of international experience as an engineer and financial analyst in the resource sector and gold mining industry, Mr. Chmelauskas brings strong operating and entrepreneurial management talents to this leadership role."

Mr. Chmelauskas holds a Geological Engineering degree from the University of British Columbia as well as an MBA from Queens University in Kingston, Ontario. For the past year, Mr. Chmelauskas has been managing business development and other corporate finance activities for Pacific Minerals from Beijing.Â

"We have assembled a strong technical team of Western and Chinese geologists and engineers," said Mr. Chmelauskas. "This team has been aggressively acquiring quality assets targeting gold, copper/gold and platinum group metals. We have a strong cash position and one of the largest exploration budgets of any mining company exploring in China. With Ivanhoe Mines as our partner, we are leading the search for strategic metals that we believe are vital for China's continued growth."Â

Jinshan Gold Mines is a Canadian company focused on the exploration and development of precious and base metals (gold, copper and platinum group metals) in the People's Republic of China and Mongolia. The company has two advanced projects proceeding through scoping studies --- the JBS Platinum & Palladium Project in Yunnan Province and the 217 Gold Project in Inner Mongolia.Â


Investors: Bill Trenaman/ Media: Bob Williamson: +1.604.688.5755
Email: [email protected] Website: www.pacific-minerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The company does not assume the obligation to update any forward-looking statement.