POC Pacific Iron Ore Corporation

Pacific Iron Ore Corporation (TSX VENTURE:POC), announces that drilling activity
on the Bugaboo Creek project is now complete for the 2010 exploration season.
The drilling activity has been focused on the exploration of massive magnetite
skarns found in the Bugaboo Creek area near Port Renfrew, B.C. In late 2008,
Pacific Iron Ore Corporation announced an inferred resource of 7.8 million
tonnes of approximately 63 percent magnetite. 


An updated resource estimate for the Bugaboo Creek deposits is expected late in
2010 or early 2011, this is being completed by Wardrop Engineering Ltd. of
Vancouver. This estimate will incorporate drilling results from both 2010 and
from 2009. The 2009 drilling program was interrupted by severe weather and not
completed, nor was a resource update completed with these partial results at the
end of 2009.


A total of 32 HQ holes were completed in the 2010 exploration campaign totaling
approximately 9,100 metres of core. It is expected that core logging and
assaying will be completed in late October and that drilling results will be
available to Wardrop Engineering Ltd. in November, 2010. 


A total of 16 holes were completed in the 2009 exploration campaign totaling
approximately 4,700 metres of HQ core. 


Analysis of sample material from the drilling program on the Bugaboo Creek
project is being completed by ALS Chemex of North Vancouver, B.C., with high
grade iron samples being re-analzyed by the University of British Columbia for
magnetically recoverable iron content. 


The Bugaboo Creek deposits are being explored and developed with the intent of
exporting iron concentrate to the worldwide steel industry. 


Corporate Direction and Strategy 

Pacific Iron Ore Corporation is dedicated to the development of its strategic
mineral deposits, located in the Port Renfrew area of Vancouver Island, British
Columbia, as well as, in the Kenora area of Ontario. 


Jeffrey B. Austin, P.Eng. is the qualified person for Pacific Iron Ore
Corporation and responsible for the content of this news release. 


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.

Pacific Iron Ore (TSXV:POC)
Historical Stock Chart
From Jun 2024 to Jul 2024

Pacific Iron Ore (TSXV:POC)
Historical Stock Chart
From Jul 2023 to Jul 2024