Pacific Iron Ore Corp.
TSX VENTURE : POC

Pacific Iron Ore Corp.

August 05, 2009 13:14 ET

Pacific Iron Ore Corporation Announces the Commencement of St Anthony's Exploration Program

CALGARY, ALBERTA--(Marketwire - Aug. 5, 2009) - Pacific Iron Ore Corporation (TSX VENTURE:POC), announces that this seasons field program has begun on the St. Anthony's Gold project. This project is identified as having a high potential for further development as a gold and silver prospect, is located in Ontario and is comprised of 54 mining claims and 14 leases covering 8,784 hectares.

This phase of geological work, which is estimated to cost $458,700, includes detailed channel sampling and detailed mapping of the south-eastern portion of the St. Anthony stock work near the St. Anthony mine. At the same time initial mapping and sampling of the balance of the St. Anthony stock will be undertaken. The program of site work is a precursor to diamond drilling expected to begin later this fall on this past producing gold camp.

Geological sampling is being undertaken by a private contractor, which is working under the guidance of Graeme Evans, P.Geo. It is estimated that up to 1500 surface samples will be submitted for analysis to ALS Chemex of Vancouver, B.C.

This program is expected to be completed near the middle of September of this year.

St. Anthony's Gold Project:

The St. Anthony's Gold Project contains the largest past producing gold mine in the Kenora-Patricia Mining District of Ontario. The original St. Anthony mine is located in the Sturgeon Lake Greenstone geological Belt and produced 63,310 oz. gold from 332,720 tons with an average recovered grade of 0.191 ounce gold per ton.

A technical report, compliant with National Instrument 43-101 has been prepared my Mr. Graeme Evans, P.Geo for the St. Anthony's project, and has been filed on SEDAR at www. sedar.com.

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. With the success of the 2008 Exploration Program and the existence of sufficient capital resources to undertake additional exploration activities in 2009 the Corporation is well-positioned.

Quality Control of Reported Results

The St Anthony's Gold project, exploration program is being undertaken pursuant to the recommendations contained in the independent NI 43-101 report dated June 12, 2009 entitled "Technical Report on the St. Anthony and Best/King Bay Properties" prepared by Mr. Graeme Evans, P. Geo. of Kamloops, British Columbia. A copy of the 43-101 Technical Report is available under the Corporations profile on SEDAR and can be accessed at www.sedar.com.

Mr. Graeme Evans, P. Geo of Kamloops, British Columbia, an independent geological consultant, is the Qualified Person on the St. Anthony's Project under the guidelines of NI 43-101. Mr. Evans oversees the completion of the Technical Report and has reviewed and approved the technical disclosure contained in this press release relating to that project.

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.

Neither the TSX Venture Exchange nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pacific Iron Ore Corporation
    Todd Montgomery
    Chief Executive Officer
    (403) 228-0607
    (403) 262-4860 (FAX)
    or
    Pacific Iron Ore Corporation
    Leonard Cornez
    Chief Financial Officer
    (403) 218-0294 or 1-866-682-5812
    (403) 265-2887 (FAX)
    or
    Jeffery Austin
    President
    (250) 763-4892
    (403) 265-2887
    Website: www.pacificironorecorp.com