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
six months ended June 30, 2010 and 2009. These documents are now available on
SEDAR.


2010 Exploration Update

The Corporation has continued to further explore the Bugaboo Creek area located
near Port Renfrew on Vancouver Island and has completed the drilling of a
further 22 diamond core holes in 2010. The results from these and the 28 core
holes drilled in 2009 have be provided to Wardrop Engineering Inc, of Vancouver,
British Columbia to update the 2008 engineering study. Mr. Austin stated "we are
very pleased with the assays and iron intercepts achieved in the 2009 and 2010
Exploration Program and look forward to receiving an updated resource estimate
from Wardrop. The previously estimate was an inferred resource of 7.8 million
tonnes, grading 63% magnetite and was based on the 2008 Exploration Program. We
believe our exploration efforts over the past two years have significantly
increased the known size of the ore body. Mr. Austin also stated that "once
drilling on the Bugaboo Creek prospect is complete the Corporation will return
to the St Anthony's Gold Project in Ontario to complete approximately 10 diamond
core holes with further assays on core samples to follow. Our initial work in
2009 has strongly encouraged us to expand our exploration efforts in an attempt
to identify additional gold resources."


In June 2010, the Corporation negotiated the sale of its Separation Project to
Mega Graphite Inc., in exchange for 990,901 common shares of the purchaser. The
arrangement is conditional upon a number of factors including the obligation for
the purchaser to gain a public listing on a Canadian exchange prior to May 19,
2011. The Corporation continues to hold the Separation Project in its mineral
property accounts until the final conditions of the sale are satisfied.


2010 Results

During the first six months of 2010 the Corporation generated interest revenue
of $1,685, incurred a net loss before income taxes of $423,039 and generated a
net loss of $340,556 or $0.01 per common share. During the three month period
ended June 30, 2010 the Corporation generated interest revenue of $1,119,
incurred a net loss before income taxes of $171,553 and generated a net loss of
$149,622 or $0.01 per common share.


Its major expenses included general and administrative costs of $271,837, stock
based compensation expenses of $78,512 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 $82,483 during the
quarter.


General and administrative costs totaled $271,837 in 2010 as compared to
$202,658 in 2009, an increase of $69,179. The increase can be mainly attributed
to the addition of a corporate President for the full period ($17,500);
accounting costs ($9,660); legal costs ($5,833); amortization ($9,323); and
investor and community relations charges incurred during the period. These
expenditures are incurred in respect to the ongoing general administrative
activities 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 six months ended June 30, 2010 the Corporation incurred $954,895 in
investing activities as compared to $507,036 for the same period in 2009. In
2010 the Corporation incurred $93,848 ($161,336 in 2009) with respect to
acquisition, staking, recording and filing costs associated with its British
Columbia and Ontario properties and $680,655 ($285,442 in 2009) on deferred
exploration costs, principally in British Columbia. Miscellaneous equipment
purchases in 2010 accounted for $10,904 ($13,912 in 2009). The funding of
deposits on future exploration activity and working capital changes account for
the remaining expenditures.


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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