Pacific Iron Ore Corp.
TSX VENTURE : POC

Pacific Iron Ore Corp.

November 17, 2009 18:05 ET

Pacific Iron Ore Corporation Increases Previously Announced Financing

CALGARY, ALBERTA--(Marketwire - Nov. 17, 2009) - Pacific Iron Ore Corporation (TSX VENTURE:POC) ("POC" or the "Corporation") is pleased to announce that its previously announced $3.0 million financing (see press release of October 21, 2009) has been over-subscribed. Due to this strong demand, POC has determined that it would be in the best interests of the Corporation to increase the subject offering from $3.0 million to a maximum of $3.6 million. This increase is subject to receipt of regulatory approval.

The Corporation is currently in the midst of a 12 drill hole exploration program evaluating the St. Anthony's gold project located near Kenora, Ontario. POC is also completing data compilation on the recently completed drill program on the Bugaboo Creek iron ore deposits located near Port Renfrew, B.C.

For further information, please refer to the Corporation's profile on SEDAR which can be accessed at www.sedar.com, or 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
    CEO
    (403) 228-0607
    (403) 262-4860 (FAX)
    or
    Pacific Iron Ore Corporation
    Leonard Cornez
    Chief Financial Officer
    (403) 218-0294 or Toll Free: 1-866-682-5812
    (403) 265-2887 (FAX)
    or
    Pacific Iron Ore Corporation
    Jeffery Austin, P.Eng.
    (250) 763-4892
    (403) 265-2887 (FAX)
    www.pacificironorecorp.com