Pacific Comox Resources Ltd.
TSX VENTURE : PCM

Pacific Comox Resources Ltd.

March 27, 2006 03:00 ET

Pacific Comox Reports Near Surface Intersection of 0.13% or 2.6lbs/Ton Molybdenum Plus Copper Over 25 Feet

TORONTO, ONTARIO--(CCNMatthews - March 27, 2006) - Pacific Comox Resources Ltd. (TSX VENTURE:PCM) reports the assays for three diamond drill holes testing the area adjacent to the past producing molybdenum open pit at its optioned Ryan Lake copper/molybdenum property. This open pit is located about 1,000 feet north of the past producing underground copper/molybdenum mine and the currently operating mill. The assays for the three new holes and the eleven previously reported holes drilled in the area of the past producing molybdenum open pit in this campaign are given below in Table 1. Results for two holes on a copper/molybdenum showing about one mile north were anomalous in copper and molybdenum and will be followed up in the next drilling program.

Mineralized intersections in holes PC-05-15 and PC-05-16, which were previously reported, and holes PC-05-17 to PC-05-19 are summarized in the following table. Holes #15 & #16 were collared on the floor of the pit drilling a scissors section. Holes #17  were collared to the southwest of the pit and drilled to the northwest. Hole #19 was collared 7 meters south of hole #17 and was drilled at the same azimuth and inclination. Hole #18 was collared to the northeast of the pit and drilled to the southwest.

Hole #17 was mineralized for almost its entire length returning an intersection of 120 meters (393 feet) from 5 meters (16 feet) grading 0.04% (0.82 lbs/ton) molybdenum and including an intersection of 8 meters (25 feet) from 17 meters, grading 0.13% (2.63 lbs/ton) molybdenum and 0.07% (1.3 lbs/ton copper).



SUMMARY OF INTERSECTIONS IN HOLES PC-05-15 TO PC-05-19
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Intersection In Hole Molyb- Molyb-
Hole Start Length Length Copper Copper denum denum
Number (meters)(meters) (feet) (%) (lbs/ton) (%) (lbs/ton)
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PC-05-15 1.5 17 54 0.11 2.1 0.30 6.04
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Including 9.0 8 25 0.19 3.8 0.60 11.92
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27.0 29 93 0.04 0.8 0.09 1.77
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Including 27.0 14 44 0.05 1.0 0.16 3.20
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PC-05-16 1.5 20 64 0.33 6.7 0.33 6.57
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Including 9.0 9 30 0.52 10.3 0.58 11.62
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54.0 8 26 0.06 1.2 0.04 0.85
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PC-05-17 5 120 393 0.03 0.6 0.04 0.82
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Including 5 12 39 0.04 0.8 0.04 0.84
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17 8 25 0.07 1.3 0.13 2.63
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25 45 148 0.03 0.7 0.04 0.89
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101 18 59 0.01 0.2 0.06 1.17
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PC-05-18 53 21 69 0.02 0.5 0.04 0.89
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PC-05-19 14 20 64 0.05 0.9 0.03 0.66
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The above results augment the assays reported on January 26, 2006 where 6 holes intersected near surface mineralization with an average grade of 0.10% (2.0 lbs/ton) molybdenum and 0.14% (2.7 lbs/ton) copper over an average length of 14 meters (47 feet) starting from 4.5 meters (15 feet) from surface.

The results to-date indicate the drill intersected mineralization extends 100m NE-SW, 65m NW-SE and to a depth of at least 80 meters (262 feet) in the area of the open pit. Hole #17 intersected mineralization with a grade of 0.06% (1.17 lbs/ton) molybdenum at a vertical depth of 91 meters (298 feet). The potential remains open in all directions and at depth.

With these results in the past producing open pit molybdenum mine area and the previously reported 5 holes drilled in the area of the former underground copper/molybdenum mine, Pacific Comox has reported drill intersected mineralization in both areas. Pacific Comox plans further work on both areas. The zones extending 1,000 feet south from the molybdenum open pit to the underground copper/molybdenum mine area and 1,000 feet north from the molybdenum open pit are both highly prospective. A previous operator reported significant drill intersected molybdenum mineralization about 300 feet north of the molybdenum open pit.

The optioned Ryan Lake copper-molybdenum property consists of 10 claims totaling 513 acres, located near Matachewan, and Kirkland Lake, Ontario. The property was put it into production in 1950 at a 150 ton/day rate with a shaft sunk to 459 feet with development on 4 levels. The development extended for 1,000 feet on an east-west direction and about 500 feet north-south. No production or significant exploration is reported on the property since 1966.

As previously reported Comox also has an option to acquire the mill on the property which is currently processing barite. The mill has crushing and grinding capacity of several hundred tonnes per day and would be a major asset going forward to facilitate the resumption of copper/molybdenum production on the property.

Robert Hill P. Eng. serves as the qualified person (QP) for the sampling and exploration program under the definitions of National Instrument 43-101, reviewed this release and supervised the drilling program. The geologist on this program was James Janzen V.P. exploration for Pacific Comox. The samples were assayed by Swastika Laboratories Ltd. at Swastika, Ontario.


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PACIFIC COMOX RESOURCES LTD
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Table 1:SUMMARY OF NORTH ZONE DRILLING RESULTS
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Drill Hole From To Length Length Cu Cu Mo Mo
PC-05- (m) (m) (m) (feet) (%) (lbs/ton) (%) (lbs/ton)
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6 UTM 17TO522526, 5313673, Length 46.5m (153 ft),
Azimuth 315 degrees, Dip -50 degrees
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4.0 16.0 12 39 0.03 0.7 0.10 1.97
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20.5 46.5 26 85 0.05 1.0 0.06 1.15
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7 UTM 17TO522526, 5313673, Length 46.6m (153 ft),
Azimuth 225 degrees, Dip -50 degrees
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7.5 25.5 18 59 0.06 1.3 0.07 1.32
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25.5 30.5 5 16 0.04 0.8 0.02 0.34
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30.5 39.5 9 30 0.12 2.3 0.14 2.70
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9 UTM 17TO522512, 5313680, Length 94.9m (311 ft),
Azimuth 320 degrees, Dip -50 degrees
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4.5 28.5 24 79 0.02 0.4 0.08 1.60
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49.5 70.5 21 69 0.02 0.5 0.08 1.62
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10 UTM 17TO522531, 5313695, Length 66.9m (219 ft),
Azimuth 320 degrees, Dip -50 degrees
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1.5 62.0 61 198 0.04 0.9 0.04 0.89
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Including 3.0 12.0 9 30 0.14 2.9 0.15 2.92
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12.0 27.0 15 49 0.03 0.7 0.04 0.84
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31.5 39.0 8 25 0.01 0.3 0.03 0.51
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45.0 49.5 5 15 0.02 0.5 0.09 1.78
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11 UTM 17TO522506, 5313702, Length 103.0m (338 ft),
Azimuth 320 degrees, Dip -70 degrees
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6.0 16.5 11 34 0.18 3.6 0.09 1.72
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16.5 48.5 32 105 0.08 1.7 0.03 0.54
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70.5 93.0 23 74 0.01 0.2 0.04 0.72
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12 UTM 17TO522500, 5313706, Length 82.9m (272 ft),
Azimuth 140 degrees, Dip -50 degrees
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2.1 14.5 12 41 0.37 7.4 0.11 2.19
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23.5 56.5 33 108 0.04 0.8 0.03 0.60
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13 UTM 17TO522500, 5313706, Length 115.9m (380 ft),
Azimuth 220 degrees, Dip -50 degrees
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35.0 98.0 63 207 0.05 1.1 0.03 0.69
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14 UTM 17TO522500, 5313706, Length 82.9m (272 ft),
Azimuth 40 degrees, Dip -50 degrees
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14.0 53.5 40 130 0.06 1.2 0.03 0.53
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15 UTM 17TO522531, 5313695, Length 88.9m (291 ft),
Azimuth 220 degrees, Dip -50 degrees
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1.5 18.0 17 54 0.11 2.1 0.30 6.04
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Including 9.0 16.5 8 25 0.19 3.8 0.60 11.92
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27.0 55.5 29 93 0.04 0.8 0.09 1.77
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Including 27.0 40.5 14 44 0.05 1.0 0.16 3.20
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16 UTM 17TO522517, 5313689, Length 88.9m (291 ft),
Azimuth 40 degrees, Dip -50 degrees
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1.5 21.0 20 64 0.33 6.7 0.33 6.57
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Including 9.0 18.0 9 30 0.52 10.3 0.58 11.62
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54.0 62.0 8 26 0.06 1.2 0.04 0.85
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17 UTM 17TO522531, 5313659, Length 124.9m (410 ft),
Azimuth 320 degrees, Dip -50 degrees
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5.0 124.9 119.9 393 0.03 0.6 0.04 0.82
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Including 5.0 17.0 12 39 0.04 0.8 0.04 0.84
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17.0 24.5 8 25 0.07 1.3 0.13 2.63
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24.5 69.5 45 148 0.03 0.7 0.04 0.89
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101.0 119.0 18 59 0.01 0.2 0.06 1.17
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18 UTM 17TO522552, 5313688, Length 100.9m (331 ft),
Azimuth 220 degrees, Dip -50 degrees
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52.5 73.5 21 69 0.02 0.5 0.04 0.89
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19 UTM 17TO522532, 5313652, Length 100.9m (331 ft),
Azimuth 320 degrees, Dip -50 degrees
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13.5 33.0 20 64 0.05 0.9 0.03 0.66
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No gold and silver values were returned
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Hole # 8 did not return significant values.
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Holes # 6 io #16 were previously reported.
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March 20, 2006
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