POC Pacific Iron Ore Corporation

Pacific Iron Ore Corporation (TSX VENTURE:POC) announces that it has
renegotiated its option agreement to acquire 3 mineral claims and 14 leases
covering approximately 720 hectares referred to as the "Best property". 


The Best property will be combined with the Corporation's "King Bay" and "St.
Anthony" properties to form the "St. Anthony's Project". The St. Anthony's
Project is located in Ontario and includes 54 mining claims and 14 leases
covering a combined 8,784 hectares. Management believes these properties exhibit
the potential for gold, silver and copper. It is anticipated that a 43-101
compliant Technical Report on the St. Anthony's Project will be submitted for
filing in the immediate future and will be available on SEDAR at www.sedar.com.


In renegotiating the option agreement, the Corporation received a two thirds
reduction in the applicable net smelter royalty ("NSR") contained in the
original option agreement, from 3% down to 1%, and the elimination of its annual
commitment for expenditures on the Best property of approximately $45,000 per
year. The Corporation also received the right to further reduce the NSR at its
option by paying the sum of one million dollars for every one-half of one
percent reduction it elects to take in the future. In order to exercise its
option to acquire a 100% working interest in the Best property, the Corporation
must issue 200,000 common shares ("Common Shares") of Pacific Iron Ore
Corporation to the owner as set out below:


1. 30,000 Common Shares upon execution of the Agreement;

2. 30,000 Common Shares on or before the first anniversary of the date of the
Agreement; and


3. 140,000 Common Shares on or before the second anniversary of the date of the
Agreement.


The current owner of the Best property is arm's length to the Corporation. Upon
the Corporation issuing the 200,000 Common Shares as aforesaid, the Corporation
shall have exercised its option and acquired a One Hundred (100%) working
interest in the subject mining claims and leases. Completion of the transaction
remains subject to receipt of all required regulatory approvals.


Company Contacts:

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


Forward Looking Statements:

The TSX.V Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release. 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 beliefs 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 registered filings which are available at www.sedar.com.

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