POC Pacific Iron Ore Corporation

Pacific Iron Ore Corporation (TSX VENTURE:POC), announces that it has filed its
Financial Statements and Management Discussion and Analysis for the three and
nine months ended September 30, 2009. These documents are now available on
SEDAR.


Pacific Iron Ore Corporation also announces that it is proceeding with its
diamond core drilling program and the construction of site access roads on the
St. Anthony's Project and has completed the 2009 diamond core drilling program
on the Pearson project in British Columbia. The Corporation has sent the core
samples gathered to ALS Chemex for further analysis. Mr. Montgomery, CEO of
Pacific Iron Ore Corporation stated that "the 2009 drilling program has been
very successful and the Corporation looks forward to releasing the assays and
technical updates on these projects in the near future". Furthermore, the
Corporation is now seeking potential partners to further its exploitation of the
Separation Lake project. The current status of each is as follows:


Pearson Project:

POC has recently completed a 33 hole diamond drill program focusing on the
Bugaboo Creek and Granite areas located within the Pearson Project. Initial
results remain promising and the Corporation is focusing its efforts on
expanding the initial iron ore resource estimates obtained from the 2008
Exploration program and further defining the large layered mafic/ultramafic
intrusive which was identified in the Granite area. The Corporation believes
this may exhibit disseminated magmatic sulphides consisting of pyrrhotite and
chalcopyrite.


St. Anthony's Project:

Initial prospecting and mapping is well underway with channeling and grab sample
collection completed. The Corporation has now commenced a 12 hole diamond drill
coring program and has started the construction of site access roads. Management
believes this project exhibits potential for gold, silver, minor copper, zinc
and lead.


Separation Project:

The Corporation is now receiving expressions of interest from third parties to
joint venture this property. If successful a joint venture would enable
exploration of this project to commence earlier than originally planned and
would preserve the Corporation's capital. Management believes it may exhibit the
potential for the rare metal pegmatite of Petalite (lithium), tantalum and tin.


Results for the nine months ended September 30, 2009

Revenue of $5,933 consists of interest income earned on invested cash deposits.

General and administrative expenses totaled $309,667 in 2009 as compared to
$253,759 in 2008, an increase of $55,908. These expenditures are incurred in
respect to the ongoing general administrative activities of the Corporation. The
increase in expenditures were associated with management of the corporation,
daily accounting activities, filing of tax returns, consulting services provided
in the preparation of interim statements, audit fees and regulatory filings and
general corporate advisory services. In 2008, the Corporation did not have
consultants and staff in place to perform these duties prior to April 2008. In
addition the Corporation incurred additional costs associated with investor
relations, insurance and Part XII tax which did not occur in 2008.


Write downs of mineral properties totaled $16,100 in 2009 as compared to
$124,621 in 2008. After accessing the preliminary results of the 2008
Exploration Program, the remaining financial resources of the Corporation, the
ability to raise additional capital and management's belief of the future
potential of certain mining claims, the Corporation surrendered its rights to
claims with a book value of $16,100.


Stock based compensation expense totaled $124,740 ($95,753 in 2008) and arises
from the issuance of stock options and broker warrants by the Corporation. The
Black-Scholes valuation model was applied in determining the expense for the
period.


Income taxes during the period amounted to a net recovery of $394,100 as
compared to a recovery of $125,861 in the prior year principally as a result of
recognizing the future benefit of discretionary income tax deductions and net
operating losses carried forward for income tax purposes.


The net loss for the nine months amounted to $51,599 as a result of the
individual items set out above as compared to a net loss of $317,256 in the same
period in 2008.


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. With the success of the 2008 Exploration Program and the existence of
sufficient capital resources to undertake additional exploration activities in
2009 the Corporation is well positioned to manage these difficult times. In
order to maximize the returns on future exploration activity, the Corporation
has initiated a detailed review of its claims located on Vancouver Island and in
Ontario, with the intention of identifying other areas with similar potential to
the Pearson Project.


For further information please refer to the Corporations profile on SEDAR which
can be accessed at www.sedar.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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