SOURCE: Pacific Energy & Mining Co.

September 05, 2007 13:49 ET

Pacific Energy & Mining Company Acquires Mineral Lease

RENO, NV--(Marketwire - September 5, 2007) - Pacific Energy & Mining Co. (PINKSHEETS: PEMC) is pleased to announce that it has obtained a mineral lease covering approximately 635 acres in Boxelder County, Utah.

The mineral lease is for the exploration and development of Flagstone. The market for Flagstone is in the Salt Lake City Area. Current retail price in the Salt Lake City area is approximately $200 per ton. The lease terms require that the Company pay 12.5% of gross proceeds from the sale of Flagstone to the mineral owners.

Flagstone is a type of flat stone, usually used for paving slabs, but also for making fences or roofing. This is a sedimentary rock which is cut or split in layers for walkways and patios. It contains feldspar which gives it the blue color. Flagstone is a sandstone which makes the rock essentially quartz. The material that binds flagstone is usually composed of silica, calcium, or iron oxide. The color of the rock usually comes from the cementing material. Typical colors of flagstone are red, blue, buff, and there are exotic colors like chocolate. It is often used for patios, walkways, steps, fences, housing, fireplaces, and many construction projects.

The company expects to commence exploration during the last quarter of this year.

About Pacific Energy & Mining:

Pacific Energy is a diversified company that operates oil and gas leases throughout Utah. It also has non-operated interests in Utah and Oklahoma and owns a 7% working interest in Brennan Bottoms. The Company is in the process of unitizing the field with offset leaseholders, the largest of which is Questar Company. Additionally the Company owns a 16.67% interest in Mar/Reg Investments, a General Partnership, through which it holds working interest in oil wells in Altamont Bluebell Oil Field in Utah.

The Company would also like to welcome all shareholders to visit our website at www.pemc.us for detailed information.

Disclaimer

The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or further changes make it clear that any projected results (expressed or implied) will not be realized.

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