Pacific Comox Resources Ltd.

Pacific Comox Resources Ltd.

January 11, 2005 15:21 ET

Pacific Comox Resources Ltd.: News Release


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PACIFIC COMOX RESOURCES LTD.

TSX VENTURE SYMBOL: PCM

JANUARY 11, 2005 - 15:21 ET

Pacific Comox Resources Ltd.: News Release

TORONTO, ONTARIO--(CCNMatthews - Jan. 11, 2005) - Pacific Comox
Resources Ltd. (TSX VENTURE:PCM) reports C$200,000 is been raised
through a number of private placements. The financing is in the form of
units consisting of one share and one warrant exercisable for one share
at C$0.08 for two years from closing. Each unit is priced at C$0.06. The
securities will be subject to a four month hold period from the date of
closing. A finder's fee of 10% in units is payable where applicable.

A Director of the Company is subscribing for C$50,000 of the financing.
This financing will increase the number of shares outstanding by
3,333,333 to 66,886,225.

The funds raised will be used to advance the resource estimate on the
Mabel property, sampling in the mined areas of the Pepa de Oro property,
and for working capital.

The financing is subject to regulatory approval.

Donald Empey

President



Pacific Comox Resources Ltd.
One Dundas Street West, Suite 2300, Box 13,
Toronto, Ontario Canada M5G 1Z3



-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Pacific Comox Resources Ltd.
    Donald Empey or James Janzen
    (416) 977-4653
    (416) 977-8335 (FAX)
    dempey@pacificcomox.com
    www.pacificcomox.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.