VANCOUVER, July 15

Canada NewsWire

Pacific Minerals Inc. (PMZ.V) announces that it is mobilizing crew to commence a 5,000-metre diamond drilling program on the 217 Gold Project (see Press Release of April 11, 2002) located in Inner Mongolia, China. The drill program is designed jointly by the technical team of Ivanhoe Mines Ltd. and the Company and is part of the US$1,000,000 expenditure required under the participation agreement with Ivanhoe Mines Ltd.(IVN.TO) The program will test the main Northeast Gold Zone (NGZ) situated between section lines 9800E and 10800E comprising 4300 meters in 24 holes. The NGZ (1,600 metres long and up to 200 metres wide) forms part of a larger mineralized zone which has been traced in outcrop for at least 4,000 metres. An additional 700 meters of drilling in 4 holes has been allocated to test a number of newly identified significant geophysical targets situated immediately to the south of the NGZ. It is expected that the drilling will start by the end of July 2002.

The 217 Gold Project is covered by a 36-square-kilometre exploration permit that is situated near the southeastern border of Mongolia. Access to the Project is by way of a series of paved and gravel roads linking the city of Baotou, which is served by daily scheduled flights to Beijing. The project has excellent local infrastructures with an ample supply of electricity, several large freshwater lakes and access to a rail line found 60 kilometers to the east. The 217 Gold Project is also located 160 kilometers south of Ivanhoe Mines Ltd.'s new copper-gold discovery at Turquoise Hill, southern Mongolia.

Pacific Minerals Inc. also announces that it has appointed Gary J. Artmont, formerly a director of the company, as Vice President of exploration responsible for the company's exploration activities in China.

Mr. Artmont has 28 years international experience in the mining industry and is familiar with all aspects of mineral exploration projects ranging from grassroots to feasibility. During the last 20 years, Mr. Artmont has worked principally in Australasia with Kennecott, Freeport McMoran and several junior companies involved in precious metal and copper projects. From 1989 until 1995, he was chief geologist for Freeport responsible for regional exploration over the 57,000-square-kilometre block surrounding the world-class Grasberg Cu- Au deposit. From 1995 until 1997, Mr. Artmont was vice-president of exploration for South Pacific Ltd. and supervised its exploration programs in Kalimantan, Indonesia. From 1997 until 2000, Mr. Artmont operated as an independent consultant for Gold Fields Ltd. and a number of junior mining companies including Pacific Minerals. Mr. Artmont holds a BSc. Honours degree in geology from the University of Waterloo.

Pacific Minerals is continuing its 3,000-metre-underground infill drilling in Adit PD-1339 of JBS Pt-Pd-Ni deposit, to test the continuity of the K1 and K2 zones. Nine underground in-fill diamond drill holes from two cross-sections have been completed and the cores have been split and crushed, and the samples are assayed at the ACME Laboratory in Vancouver, B.C. It is anticipated that the assay results will be available in 2 weeks.

Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward- looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.