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 months
ended March 31, 2010 and 2009. These documents are now available on SEDAR. 


2009 Results

During the first three months of 2010 the Corporation generated interest revenue
of $566, incurred a net loss before income taxes of $251,486 and generated a net
loss of $190,934 or $0.00 per common share. The net income arose as the
Corporation was able to recognize the future income tax benefit of income tax
losses carried forward to offset future income tax liabilities arising during
the period.


Its major expenses included general and administrative costs of $148,747, stock
based compensation expenses of $28,930 and the write-down of mineral properties
surrendered by the Corporation of $74,375. The Corporation also received the
benefit of recognizing future income tax recoveries of $60,552 during the
quarter. 


General and administrative expenses totaled $148,747 in the first three months
of 2010 as compared to $53,325 in the same period of 2009. The major categories
of expenditure included:




--  Corporate, legal and accounting fees $59,146 ($12,482 in 2009). The
    increase in these expenses were associated with the addition of
    corporate personnel to manage the Corporation and perform daily
    accounting activities, filing of tax returns, consulting services
    provided in the preparation of interim statements and regulatory filings
    and general corporate advisory services. Also see disclosures with
    respect to related party transactions. 
--  Investor relations, corporate communication and security exchange fees
    totalling $22,347 ($6,837 in 2009). These charges relate to increased
    regulatory compliance, community support charges for First Nations and
    shareholder communications. 
--  Travel costs of $4,169 ($1,082 in 2009) incurred in transporting staff,
    advisors and investors to the Corporation's principal mining properties.
--  Consulting costs of $22,200 ($9,000 in 2009) relating to general
    management services provide to the Corporation which did not pertain to
    exploration or financial services. Lower activity in 2010 resulted in
    more charges being expensed in the period. 
--  Office, insurance, rent and utility expenses of $17,510 ($10,163 in
    2009) which increased as a result of establishing a site office in Port
    Renfrew, British Columbia as well as in Kenora, Ontario. 
--  Interest expenses and bank charges (including Part XII tax) totalled
    which $7,578 ($8,304 in 2009). Included in interest charges is $nil with
    respect to related parties ($1,038 in 2009). 
--  Amortization of equipment of $8,880 ($4,218 in 2009). 
--  Other costs of $6,917 ($1,239 in 2009) related to the administration of
    the Corporation 



During 2010 and 2009, the Corporation determined that insufficient work was
being completed on certain claims or the Corporation had decided to relinquish
its interest in certain other mineral claims which did not exhibit significant
potential for mineral deposits. In accordance with the Corporation's accounting
policy for mineral properties and deferred exploration costs were written off
during the period.


During the three months ended March 31, 2010 the Corporation incurred $114,862
in capital expenditures as compared to $261,158 for the same period in 2009. In
2010 the Corporation incurred $33,114 ($160,675 in 2008) with respect to
acquisition, staking, recording and filing costs associated with its British
Columbia and Ontario properties and $81,748 ($87,790 in 2009) on deferred
exploration costs, principally in British Columbia. Miscellaneous equipment
purchases in 2009 accounted for the remaining $12,693 in capital expenditures.
No such expenditures were incurred in 2010. 


During 2010, subject to maintaining sufficient capital resources to support its
activities, the Corporation anticipates spending approximately $2,000,000 on
exploration activities to fulfill its flow through expenditure commitments.
Limited amounts will be spent on the acquisition of mineral properties and
equipment. During 2010, the Corporation will focus its efforts on the Port
Renfrew property in British Columbia and the St. Anthony Project in Ontario.
These expenditures will be financed with the Corporation's existing working
capital balances. Should equity markets permit, the Corporation will consider
the issuance of additional equity to finance these activities.


Corporate Direction and Strategy

Pacific Iron Ore Corporation is dedicated to the development of its strategic
mineral deposits, located in the Port Renfrew area (iron resources) of Vancouver
Island, British Columbia, as well as, in the Kenora area (gold resources) of
Ontario. With the success of the previous exploration and the existence of
sufficient capital resources to undertake additional exploration activities in
2010, the Corporation is well-positioned to continue its exploration efforts. 


It is the objective of Pacific Iron Ore Corporation to delineate 20 million
tonnes of high-grade iron ore in the existing deposits and complete a
pre-feasibility study for the production of iron concentrates to be sold
directly to the Far East. It is believed that the high-grade nature of the
deposits, proximity to tide-water, and the existence of Port Facilities such as
the Port of Naniamo Duke Point facility, will significantly benefit the
potential projects economics along with the current high demand and pricing for
iron concentrates. The Corporation has set an objective to identify sufficient
resources to allow for a production capacity of 2 million tonnes per year of
iron concentrates from the site.


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:

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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