CORPORATE DIRECTORY

Managing Director

Simon Noon

Directors

Richard Monti (Chairman)

Peter Harold (Non-exec.)

Andrew Parker (Non-exec.)

Company Secretary

Joshua Ward

Patrick Holywell

Registered office

Level 10, 553 Hay St

Perth WA 6000

Telephone:

+61 8 6266 8642

Facsimile:

+61 8 9421 1008

Email:

info@pacificominerals.com.au

7 October 2014

Further Drilling to commence at Berrio

Pacifico Minerals Limited (“Pacifico” or “Company”) is pleased to announce upcoming

plans for further drilling and exploration at the Berrio gold project. Drilling will commence

shortly.

Highlights

• A follow-up diamond drilling program comprising up to 5,000m of triple-tube HQ

coring. The program is designed to extend known mineralisation encountered

during maiden drilling, and to test new exploration targets delineated during

recent IP and soil sampling programs.

• An underground drilling program has been commissioned to test mineralised

structures and ore shoot geometries.

• A trial RAB program will test soil Au anomalies, structure and IP anomalies.

• A high resolution Ground Penetrating Radar (“GPRplus”) geophysical survey trial

of method at Berrio will be completed.

Diamond Drill Program to Test Depth and Strike Extensions of mineralised zones

Results from the maiden drilling program defined significant mineralised zones which are

open in all directions (see ASX announcements 4 August and 14 August 2014). Initial

drilling results outlined a mineralised zone of approximately 500m x >200m x 20m

approximate true width, within which are contained an unknown number of high grade

ore shoots. Maiden drilling within this zone encountered a number of important

intercepts:

� 16.3m @ 11.2 g/t Au from 183m including 5.7m @ 29.1 g/t Au (containing 1.3m @

96.3 g/t Au and 1m @ 20.1 g/t Au) and 2m @ 4.7 g/t Au (BE14-007)

� 12.9m @ 4.1 g/t Au from 203m including 3.3m @ 10.9 g/t Au (BE14-002)

� 4.1m @ 13.6 g/t Au from 28m including 1.1m @ 47.7 g/t Au (BE14-008)

� 8.4m @ 3.8 g/t Au from 170m including 3.2m @ 8.0 g/t Au (containing 0.2m @ 68

g/t Au) and 1m @ 5.1 g/t Au (BE14-010)

� 7m @ 5.6 g/t Au from 116m including 1m @ 16.9 g/t Au and 2m @ 9.5 g/t Au

(BE14-006)

� 5.1m @ 5.0 g/t Au from 233m including 1.9m @ 8.0 g/t Au and 1m @ 7.6 g/t Au

(BE14-009)

Follow up drilling will target areas of high grade ore shoot development and also aim to

extend the dimensions of wider zones of gold mineralisation currently open in all

directions. Several geophysical trends identified by IP, plus a number of Au anomalies

discovered during a recent soil sampling program will also be tested. Drilling is expected to

commence in the next week with assay results to be received shortly thereafter and

continuing over the course of the next 4 months.

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Drilling Program to Test Geophysical and Geochemical Results, and Extend Maiden Drilling Results

Based on the exciting results from the maiden drilling program, plans for a 5,000m diamond drilling program are

underway with additional access and drill site preparations in progress. The program will expand upon results from

the maiden drilling program (see ASX announcements 4 August and 14 August 2014) by focussing in on known high

grade ore shoots within wider mineralised zones, and testing a number of new exploration targets defined by

geophysics and soil geochemistry on the property.

Ongoing geological observations define a network of structurally controlled, high grade ore shoots within a highly

sheared, folded and faulted stratigraphic sequence of sedimentary rocks hosting gold mineralisation. These ore

shoots are interpreted to be open in all directions.

Figure 1: Ore shoots defined to date, existing and planned drill holes, and modelled mineralised zones.

The Company will continue to use the same drilling contractor, using progressive changes to the drilling techniques

developed during the maiden program which will improve drilling productivity and water recirculation effectiveness.

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Underground Drill Program to Test Ore Shoot Dimensions

An underground diamond drilling program has been commissioned in one of the underground tunnels at the El Bus

prospect. A specially designed portable drill rig capable of collecting core samples for up to 50m from the

development face will be used. A fan of holes will be drilled directly into high grade mineralisation to better

understand ore shoot geometry and focus additional drilling from surface.

Drill station preparation is underway, which includes widening and opening up of an existing tunnel and the

installation of electrical lines and timbering. Drilling is expected to commence during the next two weeks once the

underground site preparation is completed, with preliminary assay results available shortly thereafter.

Figure 2: Schematic image from the 3D Berrio model showing the planned underground drilling station at the

southern end of Level 3. Drill hole lengths shown are 50m. The drill holes will test ore shoot geometry and Au

grades in several directions from a working development face in the tunnel.

High Resolution GPRplus Ground Penetrating Radar to Test Geological Structures and Mineralised Veins

The GPRplus technology uses radar pulses to image the subsurface. GPRplus uses combinations of in-field

configurations of antennas to produce geophysical sections that focus on geological events at different depths below

surface. Pacifico was invited to be the first test case in South America for this technology. If the trials are successful,

Pacifico will embark on a larger program in the near future.

Trial RAB Drilling Program to Test Geophysical and Geochemical Anomalies

A RAB drill will be arriving on site in the coming days to complete a trial RAB program at Berrio. If successful, a full

program will be completed that will be designed to test Au in soil anomalies with associated IP anomalies.

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For further information or to be added to our electronic mailing list please contact:

Simon Noon (Managing Director)

Phone: +61 (0)8 6266 8642

Email: info@pacificominerals.com.au

Competent Person Statement

The information in this announcement that relates to the Berrio Gold Project is based on information compiled by Mr

John Kieley, who is a Member of the Association of Professional Engineers and Geoscientists of Newfoundland and

Labrador (PEGNL), Canada. Mr Kieley is an employee of Pacifico Minerals Limited. Mr Kieley has sufficient experience

which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is

undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting

of Exploration Results, Mineral Resources and Ore Reserves”. Mr Kieley consents to the inclusion in this

announcement of the matters based on information in the form and context in which it appears.

About Pacifico Minerals Ltd

Pacifico Minerals Ltd (“Pacifico”) is a Western Australian based exploration company focussed on advancing the

Berrio Gold Project (“Berrio”) located in Colombia. Berrio is situated in the southern part of the prolific Segovia Gold

Belt and is characterised by a number of operational, artisanal-scale adits, tunnels, and declines. The project is 35km

from the Magdalena River which is navigable to the Caribbean Sea and has excellent infrastructure in place including

hydro power, sealed roads, an abundant water supply and telecommunications coverage. Pacifico also has an

interest in two other projects in Colombia (Natagaima and Urrao) and one project in the Northern Territory

(Borroloola West Project).

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