POC Pacific Iron Ore Corporation

Pacific Iron Ore Corporation ("Pacific Iron" or the "Corporation") (TSX
VENTURE:POC) is pleased to announce that it intends to complete, by way of a
non-brokered private placement, the sale of of up to 10,052,632 common shares
for gross proceeds of up to $4,000,000 (the "Offering"). The 10,052,632 common
shares will be comprised of up to 9,000,000 shares to be sold on a "flow
through" basis at $0.40 per share and up to 1,052,632 additional common shares
to be sold at $0.38 per share. 


It is expected that insiders of the Corporation will subscribe for approximately
one half of the shares sold under the Offering. Pacific Iron may pay a finder's
fee of 8% cash to certain arm's length parties in respect of investors
introduced to the Corporation. All of the shares sold under the Offering will be
subject to a four-month hold period.


The Offering is expected to close on or before November 30, 2010. Closing of the
Offering is subject to receipt of applicable regulatory approvals, including the
approval of the TSX-Venture Exchange.


The proceeds of the Offering will be used to fund ongoing exploration on the
Company's mineral properties, including drilling programs on the Pearson iron
ore property in British Columbia and on the St. Anthony's gold property on
Ontario, as well as for working capital and general corporate purposes.


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 or see contact information.


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 Corporation's 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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