POC Pacific Iron Ore Corporation

Pacific Iron Ore Corporation ("Pacific Iron" or the "Corporation") (TSX
VENTURE:POC) announces the acquisition of a royalty interest, the election of
the Corporation's board of directors and the issuance of stock options.


Acquisition of Royalty Interest

On May 26, 2010 the Corporation entered into an arm's length agreement with
Stares Contracting Corp. ("Stares"), a corporation incorporated under the
Business Corporations Act (Ontario), to acquire certain royalty interests. 


Pursuant to an option agreement dated May 27, 2002 between Stares and the
Corporation's predecessor in interest (the "Option Agreement"), the Corporation
acquired from Stares certain mining claims located in Patricia Mining Division
30 in the Province of Ontario (the "Mining Claims"). In accordance with the
terms of the Option Agreement, Stares presently holds a 3% net smelter returns
royalty over the Mining Claims (the "Royalty"). Pursuant to the terms of a
royalty purchase and termination agreement between the Corporation and Stares
dated May 26, 2010 (the "Royalty Purchase Agreement") the Corporation agreed to
acquire the Royalty in exchange for consideration consisting of a total of
400,000 listed common shares (the "Common Shares") of the Corporation. Upon the
issuance of the 400,000 Common Shares, the Corporation will acquire all of the
interest Stares holds in the Mining Claims, including the Royalty, and the
Option Agreement will be terminated. 


Stares, the current owner of the Royalty, is arm's length to the Corporation.
Completion of the transaction remains subject to receipt of all regulatory
requirements, including the approval of the TSX-V.


Election of Board of Directors

The Corporation announces that on May 26, 2010, at its annual general meeting,
the shareholders elected Messrs. R.A.N. Bonnycastle, Todd Montgomery, Brent
Walter, Ronald Netolitzky and Jeff Austin to the Corporation's Board of
Directors. Mr. Leonard Cornez did not stand for re-election as a director of
Pacific Iron though he remains as the Corporation's Chief Financial Officer. The
Corporation expresses its gratitude to Mr. Cornez for his numerous contributions
to Pacific Iron in his capacity as a director of the Corporation. 


Mr. Montgomery is currently the Chief Executive Officer of the Corporation and
Mr. Austin is the Corporation's President. With the election of the current
Board of Directors, the majority of the Board is independent of the management
of the Corporation.


Issuance of Options

The Corporation announces that, under the formal stock option plan approved by
shareholders, it has granted incentive stock options to purchase a total of
1,175,000 Common Shares to employees, consultants, officers and directors of the
Corporation. Terms of the options include: an exercise price of equal to the
closing price of the Common Shares on June 3, 2010; vesting of all of the
options over a three year period; and an expiry date of June 3, 2015.


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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