POC Pacific Iron Ore Corporation

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED
STATES NEWS SERVICES.


Pacific Iron Ore Corporation (TSX VENTURE:POC) (the "Corporation") is pleased to
announce that on November 26, 2009 it closed an equity offering of common shares
for aggregate gross proceeds of $3,505,875.15.


The Corporation completed the brokered financing through Blackmont Capital Inc.
and Acumen Capital Finance Partners Limited (the "Agents"), on a syndicated
basis, involving the sale of an aggregate of 7,311,167 common shares in the
capital of the Corporation ("Common Shares") to raise gross proceeds of
$3,505,875.15. The 7,311,167 Common Shares are comprised of 4,317,000 shares
sold on a "flow through" basis at $0.50 per share and 2,994,167 additional
shares sold at $0.45 per share. The Agents were paid commissions and recovered
expenses equal to an aggregate of $220,661.75 and received 76,100
non-transferable broker warrants (the "Broker Warrants"), with each Broker
Warrant entitling the holder to acquire one Common Share at $0.45 per Common
Share exercisable until May 26, 2011. In accordance with applicable law, such
securities are not subject to any hold period.


Proceeds from the financing will primarily be used in to fund the Corporation's
ongoing exploration efforts, for working capital and for general corporate
purposes.


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, investors are cautioned that 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. For more information on Pacific Iron Ore Corporation, Investors
should review the Corporation's public filings which are available at
www.sedar.com.


The Common Shares have not and will not be registered under the United States
Securities Act of 1933 as amended (the "US Securities Act") or any state
securities laws and may not be offered or sold in the United States or to any US
Person except in certain transactions exempt from the registration requirements
of the US Securities Act and applicable state securities laws.

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