Pacific Iron Ore Corporation ("Pacific Iron" or the "Corporation") (TSX
VENTURE:POC) announces that it is amending the terms of its previously announced
(November 1, 2010) non-brokered private placement. The offering (the "Offering")
will now consist of the sale of up to 11,764,705 common shares for gross
proceeds of up to $4,000,000. The 11,764,705 common shares will be comprised of
a combination of common shares to be sold on a "flow through" basis at $0.38 per
share and common shares to be sold at $0.34 per share. All other terms of the
Offering remain as disclosed in the Corporation's press release of November 1,
2010.


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.
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