POC Pacific Iron Ore Corporation

Pacific Iron Ore Corporation (TSX VENTURE:POC), announces that it has filed its
interim financial statements and management discussion and analysis for the
three and nine months ended September 30, 2008. These documents are available
under the Corporations profile on SEDAR and can be accessed at www.sedar.com.


Mr. Todd Montgomery, President of Pacific Iron Ore Corporation stated that "We
are very pleased with the Corporation's achievements during the first nine
months of 2008. During this period the Corporation completed the amalgamation of
Emerald Fields Resource Corporation and Klondike Capital Corp, issued 8,979,000
flow through shares and 5,221,000 common shares for gross proceeds of $6,577,900
and commenced the 2008 Exploration program." The Exploration Program consists of
a diamond drill program and aerial magnetic survey pursuant to the
recommendations contained in the independent qualifying report dated October 31,
2007 and revised on February 13 and March 11, 2008 entitled "Technical Report -
Pearson Project, British Columbia" (the "Qualifying Report") prepared by an
independent geologist, Mr. George Owsiacki, P. Geo. of Victoria, British
Columbia. The Qualifying Report was prepared in contemplation of the
requirements of National Instrument 43-101. A copy of the 43-101 Technical
Report is available under the Corporations profile on SEDAR and can be accessed
at www.sedar.com.


The Corporation has completed 53 diamond drill holes to date, with the assay
results received and reported on 41 diamond drill holes, and had completed 7,783
line kilometers or 57% of the airborne geophysical survey ("the Survey") being
conducted by Fugro Airborne Surveys Corp. of Mississauga, Ontario ("Fugro").
"The preliminary results of these activities are very encouraging" stated Mr.
Montgomery. The current drilling program has covered significant areas of
interest within Bugaboo Creek and has identified a number of significant drill
intersections of iron skarn mineralization. One specific example of the strong
results achieved is hole DDH-08-38B which intersected intermittent masses of
magnetite (iron oxide) from 25.3 metres to 259.8 metres depth, giving a
cumulative thickness of magnetite totaling 127.5 metres in core length. The
combined magnetite intersections from this hole yielded an average Fe value of
55.6%. Mr. Montgomery further stated that "though we are waiting for the assay
results from 12 diamond drill holes, Davies Tube test results and the detailed
report from Fugro, we have identified a number of holes with both significant
intersections of iron skarn mineralization and high Total Fe content. The
combination of the preliminary findings of the Survey and the diamond drill
results has enabled the Corporation to focus its immediate exploration efforts
on claims located in the Port Renfrew area and to maintain claims with respect
to its other mining properties."


Outlook and Future Activity

As at September 30, 2008 the Corporation had working capital of $3.0 million,
including $2.7 million in cash and short term deposits, available to fund the
completion of the Survey, finalize its diamond drill program and prepare a
detailed analysis of the combined data. The Corporation believes its current
cash position will enable it to complete its planned activities and fund its
exploration efforts for the fourth quarter of 2008 and first nine months of
2009. Field activity will be significantly reduced during the period from
November 15, 2008 to February 28, 2009 as a result of poor weather conditions
which will reduce visibility and prohibit the safe operation of the helicopters
needed to complete the Survey. Field activity will recommence in March 2009
focusing on geological mapping, diamond core drilling and data correlation. The
Survey is expected to recommence in the spring of 2009 when weather patterns
improve. The Corporation intends to use the winter time period to assimilate
data, complete assays and Davies Tube testing, and prepare its 2009 Exploration
Program. The Corporation also intends to investigate the potential for exploring
sand, gravel and clay deposits, also located in the Port Renfrew area, to
provide a source of additional working capital to fund its exploration program
should equity markets continue to be unfavorable.


Qualified Person

Mr. Garry Payie, P. Geo of Victoria, British Columbia, an independent geological
consultant, is the Qualified Person under the guidelines of NI 43-101. Mr. Payie
oversees the Corporation's exploration program with respect to the Pearson
Project and has reviewed and approved the technical disclosure contained in this
press release.


Corporate Direction and Strategy

Pacific Iron Ore Corporation is dedicated to the development of its iron ore
deposits, located in the Port Renfrew area of Vancouver Island, British
Columbia. The work program for the British Columbia property (BCP-1, Pearson)
includes a planned airborne magnetometer and EM geophysical surveys over its
mineral claims; geological mapping with corresponding stream sediment sampling
and analyses; line cutting; assaying and analytical work; diamond drilling; and
possibly bulk sampling. The Corporation's total mineral claim holdings on
Vancouver Island, British Columbia consist of approximately 297,313 hectares.


Company Contacts:

For further information please refer to the Corporations profile on SEDAR which
can be accessed at www.sedar.com, visit our website at
www.pacificironorecorp.com.


Forward Looking Statements:

This release includes certain statements that may be deemed "forward looking
statements". All statements in this release, other than statements of historical
facts, that address future production, reserves potential, exploration drilling,
exploration activities and events or developments that the Corporation expects
are forward looking statements. Although the Corporation believes the
expectations expressed in such forward looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance
and actual results or developments may differ materially from those in the
forward looking statements. Factors that could cause results to differ
materially from those in the forward looking statements include, but are not
limited to: market prices; exploitation and exploration successes; continued
availability of capital, financing and personnel; government regulation and
laws; the Corporations relationship with First Nations; environmental
developments; and general economic, market or business conditions. Investors are
cautioned that such statements are not guarantees of future performance and
those actual results or developments may differ materially from those projected
in the forward looking statements. For more information on Pacific Iron Ore
Corporation, Investors should review the Corporation's public filings which are
available at www.sedar.com.

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