POC Pacific Iron Ore Corporation

Pacific Iron Ore Corporation (TSX VENTURE:POC) ("POC" or the "Company")
announces that it has engaged AltaCorp Capital Inc. to provide financial
advisory services, including assistance in identifying and evaluating strategic
alternatives aimed at enhancing shareholder value.


After a thorough review of the Company's land holdings and proximity to
infrastructure, mineral deposits, updated technical reports, and operations, the
Board has concluded that Pacific Iron Ore trades at a substantial discount to
the value of its underlying assets. In 2010, the global mining sector witnessed
a significant number of merger and acquisition transactions. Moving into 2011,
global demand continues to drive iron ore, copper, gold, rare earth and other
metal prices to record levels. Accordingly, the Board has decided to initiate a
process to identify, examine and consider a range of strategic alternatives
available to the Company with a view to enhancing shareholder value. Such
strategic alternatives may include, among other alternatives: 




--  a sale of one or more of the assets of the Company; 
--  a sale of the Company, either in one transaction or in a combination of
    transactions; 
--  a merger or other business combination; 
--  one or more joint venture transactions; 
--  an acquisition; 
--  a recapitalization. 



Notwithstanding that due consideration will be given to all alternatives, the
Board believes that a sale of one or a combination of assets is most likely to
best enhance shareholder value.


There can be no assurance that any agreement or transaction will occur, or if a
transaction is undertaken, as to its terms or timing. Pacific Iron Ore does not
intend to disclose developments with respect to this process unless and until
the evaluation has been completed or the Board has approved a definitive
transaction and the Corporation has entered into a definitive agreement for such
transaction.


The Company has not set a definitive schedule to complete its evaluation and,
notwithstanding the above, no decision on any particular alternative has been
reached at this time. Pacific Iron Ore does not intend to make any further
announcements regarding the process unless and until the Board has approved a
specific transaction or other course of action or otherwise deems disclosure of
developments is appropriate.


ALTACORP CAPITAL INC. CONTACTS:

A virtual data room has been established that contains easily accessible
information about Pacific Iron Ore. Additional proprietary technical, financial,
legal and other information is available to qualified parties upon execution of
a standard non-disclosure agreement. 


Forward Looking Statements:

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 matters such as future production, reserves potential,
exploration drilling, exploration activities and potential future events or
developments are forward looking statements. Although the Corporation believes
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 regarding 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