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PACIFIC RIM MINING CORP. (the "Corporation")

MAJORITY VOTING POLICY

The Board of Directors believes that each director should have
the confidence and support of the shareholders of the Corporation. To this end,
the Board of Directors has unanimously adopted this Majority Voting Policy.
Future nominees for election to the Board of Directors will be required to
confirm that they will abide by this Majority Voting Policy.

In an uncontested election of directors of the Corporation:

| | (a) | nominees shall be listed individually and shareholders
      shall be allowed to vote for each director individually; and                                                                                                                   
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                             
| | (b) | any nominee in respect of whom a greater number of votes
      "withheld" than votes "for" are validly cast will promptly submit his or
      her offer of resignation for the consideration of the Nominating Committee
      of the Board.

Promptly following receipt of an offer of resignation arising
from the foregoing circumstances, the Nominating Committee will meet to review
the matter and make a recommendation to the Board of Directors after reviewing
the matter. In considering the resignation offer, the Nominating Committee and
the Board of Directors will consider all factors they deem relevant, including,
but not limited to, any stated reasons why shareholders "withheld" votes from
the election of the director, the length of service and the qualifications of
the director, the director's contributions to the Corporation and the Board, and
the effect any such resignation may have on the Corporation's ability to comply
with any applicable laws or governance rules or policies. The decision of the
Board of Directors regarding whether to accept or reject a resignation offer
will be disclosed to the public. A director who offers his or her resignation
pursuant to this Majority Voting Policy will not participate in any meeting of
the Board of Directors or the Nominating Committee at which the offer of
resignation is considered.

This Majority Voting Policy does not apply in circumstances
involving contested director elections.

This Majority Voting Policy was initially adopted by the Board
of Directors on June 7, 2013.

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|Pacific Rim Mining Corp. 
|-------------------------
|(the
      "Corporation")

ADVANCE NOTICE POLICY

INTRODUCTION

The Corporation is committed to: (i) facilitating an orderly
and efficient process for holding annual general meetings and, when the need
arises, special meetings of its shareholders; (ii) ensuring that all
shareholders receive adequate advance notice of the director nominations and
sufficient information regarding all director nominees; and (iii) allowing
shareholders to register an informed vote for directors of the Corporation after
having been afforded reasonable time for appropriate deliberation.

PURPOSE

The purpose of this Advance Notice Policy (the "Policy")
is to provide shareholders, directors and management of the Corporation with a
clear framework for nominating directors of the Corporation. This Policy fixes a
deadline by which director nominations must be submitted to the Corporation
prior to any annual or special meeting of shareholders and sets forth the
information that must be included in the notice to the Corporation for the
notice to be in proper written form in order for any director nominee to be
eligible for election at any annual or special meeting of shareholders.

It is the position of the board of directors of the Corporation
(the "Board") that this Policy is in the best interests of the
Corporation, its shareholders and other stakeholders. This Policy will be
subject to an annual review by the Board, which shall revise the Policy if
required to reflect changes by securities regulatory authorities or stock
exchanges, and to address changes in industry standards from time to time as
determined by the Board.

NOMINATIONS OF DIRECTORS

|1. | Only persons who are qualified to act as directors under
      the Business Corporations Act(British Columbia) (the "Act")
      and who are nominated in accordance with the following procedures shall be
      eligible for election as directors of the Corporation. At any annual
      meeting of shareholders, or at any special meeting of shareholders at
      which directors are to be elected, nominations of persons for election to
      the Board may be made only:
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | a.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | b.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | c.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  

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|   | d.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | by any person (a "Nominating Shareholder")
    who:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | (i)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | (ii)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|2. | In addition to any other requirements under applicable
      laws, for a nomination to be validly made by a Nominating Shareholder in
      accordance with this Policy, the Nominating Shareholder must have given
      notice thereof that is both timely (in accordance with paragraph 3 below)
      and in proper written form (in accordance with paragraph 4 below) to the
      Corporate Secretary of the Corporation at the principal executive offices
      of the Corporation.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|3. | To be timely, a Nominating Shareholder's notice to the
      Corporate Secretary of the Corporation must be made:                                                                                                                                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   | a.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | in the case of an annual meeting of shareholders, not
      less than thirty (30) days nor more than sixty-five (65) days prior to the
      date of the annual meeting of shareholders; provided, however, that in the
      event that the annual meeting of shareholders is to be held on a date that
      is less than fifty (50) days after the date (the "Notice Date") on
      which the first public announcement (as defined below) of the date of the
      annual meeting was made, notice by the Nominating Shareholder may be given
      not later than the close of business on the tenth (10th) day
      following the Notice Date; and
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   | b.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | in the case of a special meeting (which is not also an
      annual meeting) of shareholders called for the purpose of electing
      directors (whether or not called for other purposes), not later than the
      close of business on the fifteenth (15th) day following the
      day on which the first public announcement of the date of the special
      meeting of shareholders was made.                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   | The time periods for the giving of a Nominating
      Shareholder's notice set forth above shall in all cases be determined
      based on the original date of the applicable annual meeting and/or special
      meeting of shareholders, and in no event shall any adjournment or
      postponement of a meeting of shareholders, or the reconvening of any
      adjourned or                                                                                                          

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|   | postponed meeting of shareholders, or the announcement
      thereof, commence a new time period for the giving of a Nominating
      Shareholder's notice as described above.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|4. | To be in proper written form, a Nominating Shareholder's
      notice must be addressed to the Corporate Secretary of the Corporation,
      and must set forth:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   | a.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   | b.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   | c.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   | The Corporation may require any proposed nominee to
      furnish such other information as may reasonably be required by the
      Corporation to determine the eligibility of such proposed nominee to serve
      as a director of the Corporation or that would reasonably be expected to
      be material to a reasonable shareholder's understanding of the experience,
      independence and/or qualifications, or lack thereof, of such proposed
      nominee. As soon as practicable following receipt of a Nominating
      Shareholder's notice (and such other information referred to above, as
      applicable) that complies with this Policy, the Corporation shall publish
      the details of such notice through a public announcement.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|5. | No person shall be eligible for election as a director of
      the Corporation unless nominated in accordance with the provisions of this
      Policy; provided, however, that nothing in this Policy shall be deemed to
      preclude discussion by a shareholder (as distinct from the nomination of
      directors) at a meeting of shareholders of any matter in respect of which
      such shareholder would have been entitled to submit a proposal pursuant to
      the provisions of the Act or at the discretion of the Chairman. The
      Chairman of the meeting shall have the power and duty to determine whether
      a nomination was made in                                                                                           

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|   | accordance with the procedures set forth in the
      provisions of this Policy and, if the Chairman determines that any
      proposed nomination was not made in compliance with this Policy, to
      declare that such defective nomination shall be disregarded.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|6. | For purposes of this Policy:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   | a.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   | b.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|7. | Notwithstanding any other provision of this Policy,
      notice given to the Corporate Secretary of the Corporation pursuant to
      this Policy may only be given by personal delivery, facsimile transmission
      or by email (at such email address as may be stipulated from time to time
      by the Corporate Secretary of the Corporation for purposes of this
      notice), and shall be deemed to have been given and made only at the time
      it is served by personal delivery to the Corporate Secretary at the
      address of the principal executive offices of the Corporation, sent by
      facsimile transmission (provided that receipt of confirmation of such
      transmission has been received) or received by email (at the address as
      aforesaid); provided that if such delivery or electronic communication is
      made on a day which is not a business day or later than 5:00 p.m. (Pacific
      Time) on a business day, then such delivery or electronic communication
      shall be deemed to have been made on the next business day.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|8. | Notwithstanding the foregoing, the Board may, in its sole
      discretion, waive any provision or requirement of this
  Policy.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            

GOVERNING LAW

This Policy shall be interpreted and enforced in accordance
with the laws of the Province of British Columbia and the federal laws of Canada
applicable therein.

EFFECTIVE DATE

This Policy was approved and adopted by the Board on June 7,
2013 and is and shall be effective and in full force and effect in accordance
with its terms and conditions from and after such date, provided that if this
Policy is not ratified and approved by an ordinary resolution of shareholders of
the Corporation at the Corporation's next shareholder meeting following the
effective date of this Policy, the Policy shall, from and after the date of such
shareholder meeting, cease to be of any force and effect.

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