Pacific Comox Resources Ltd.

Pacific Comox Resources Ltd.

March 21, 2005 16:33 ET

Pacific Comox Resources Ltd.: Molybdenum Assays Reported for Ryan Lake Property


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PACIFIC COMOX RESOURCES LTD.

TSX VENTURE SYMBOL: PCM

MARCH 21, 2005 - 16:33 ET

Pacific Comox Resources Ltd.: Molybdenum Assays
Reported for Ryan Lake Property

TORONTO, ONTARIO--(CCNMatthews - March 21, 2005) - Pacific Comox
Resources Ltd. (TSX VENTURE:PCM) -

- 24 meters of chip samples in pit walls averaged 0.15% molybdenum plus
other metals

Pacific Comox Resources Ltd. (TSX VENTURE:PCM) is pleased to report
assays for the samples taken on the walls of the molybdenum open pit at
the Company's recently optioned Ryan Lake property at Matachewan,
Ontario.

Chip samples totaling 24 meters in the syenite porphyry west and north
walls of the pit averaged 0.15% molybdenum plus 0.05% copper, 0.01
g/tonne gold and 1.2 g/tonne silver.

No production or exploration has taken place in the pit area since the
1960's. This molybdenum open pit is approximately 1,000 feet north of
the underground mine which was in production during the 1950-1957 period.

For due diligence and to assist in planning the exploration program, a
series of two meter chip samples were taken on sections of the west and
north walls of the molybdenum open pit. The assays are summarized below
and the individual assays are given in Table 1.



---------------------------------------------------------------------
SUMMARY OF ASSAY RESULTS
---------------------------------------------------------------------
Sample Comment Molybdenum Copper Gold Silver
Length (%) (%) (g/tonne) (g/tonne)
(meters)
---------------------------------------------------------------------
8 west wall 0.004 0.04 Nil 0.3
in andesite
---------------------------------------------------------------------
18 west wall 0.123 0.05 0.01 0.7
in syenite
porphyry
---------------------------------------------------------------------
6 north wall 0.245 0.04 0.01 2.4
in syenite
porphyry
---------------------------------------------------------------------
Average for 24 0.153 0.05 0.01 1.2
meters in syenite
porphyry
---------------------------------------------------------------------
Sample from waste 0.83 0.79 0.03 8.8
dump on east side
of open pit
---------------------------------------------------------------------


The Ryan Lake copper-molybdenum property consists of 10 claims totaling
513 acres, located near Matachewan, Ontario. Ryan Lake Mines Ltd. staked
the property in 1947 and 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. The J. F. Ariz report dated October 20, 1978 gave
the production during the 1950-1957 period as 163,490 tons grading 1.5%
copper, 0.008 oz of gold and 0.21 oz of silver. A successor Company was
also reported to have processed 6,000 tons grading 1.3% copper and 0.4%
molybdenite in 1964. No production or significant exploration is
reported on the property since 1966.

The historical production data given above was collected prior to 1967
and therefore is not in compliance with N.I. 43-101. Pacific Comox's
geologist, James Janzen has reviewed the above mentioned reports and
supervised this sampling program. Robert Hill P. Eng. serves as the
qualified person (QP) for the sampling and exploration program under the
definitions of National Instrument 43-101. The samples were assayed by
Swastika Laboratories Ltd. at Swastika, Ontario.

Donald Empey

President

One Dundas Street West, Suite 2300, Box 13,

Toronto, Ontario Canada M5G 1Z3



---------------------------------------------------------------------
PACIFIC COMOX RESOURCES
Table 1: Ryan Lake Property:
Samples From The Walls Of The Molybdenum Open Pit
(all samples are 2 meter chip samples)
---------------------------------------------------------------------
Sample Comment Molybdenum Copper Gold Silver
Number (%) (%) (g/tonne) (g/tonne)
---------------------------------------------------------------------
Samples RL001 to 004 taken in west wall of pit
---------------------------------------------------------------------
RL001 in andesite 0.006 0.029 0.01 0.3
---------------------------------------------------------------------
RL002 in andesite 0.003 0.058 Nil 0.4
---------------------------------------------------------------------
RL003 in andesite 0.003 0.046 0.01 0.2
---------------------------------------------------------------------
RL004 in andesite 0.002 0.027 Nil 0.1
---------------------------------------------------------------------
Average for RL001-004 0.004 0.040 Nil 0.3
---------------------------------------------------------------------
Samples RL005 to 014 taken in west wall of pit
---------------------------------------------------------------------
RL005 syenite 0.105 0.020 0.01 0.2
porphyry
---------------------------------------------------------------------
RL006 syenite 0.009 0.020 0.01 0.4
porphyry
---------------------------------------------------------------------
RL008 syenite 0.044 0.061 0.01 0.5
porphyry
---------------------------------------------------------------------
RL009 syenite 0.039 0.157 0.02 1.0
porphyry
---------------------------------------------------------------------
RL010 syenite 0.130 0.048 Nil 0.8
porphyry
---------------------------------------------------------------------
RL011 syenite 0.362 0.050 0.01 0.9
porphyry
---------------------------------------------------------------------
RL012 syenite 0.082 0.037 0.01 0.6
porphyry
---------------------------------------------------------------------
RL013 syenite 0.065 0.022 0.01 0.7
porphyry
---------------------------------------------------------------------
RL014 syenite 0.268 0.047 0.01 1.6
porphyry
---------------------------------------------------------------------
Average for RL005-014 0.123 0.050 0.01 0.7
---------------------------------------------------------------------
Samples RL015 to 017 taken in north wall of pit
---------------------------------------------------------------------
RL015 syenite 0.252 0.052 Nil 2.3
porphyry
---------------------------------------------------------------------
RL016 syenite 0.455 0.029 0.01 1.0
porphyry
---------------------------------------------------------------------
RL017 syenite 0.027 0.033 0.01 4.0
porphyry
---------------------------------------------------------------------
Average for RL015-17 0.245 0.038 0.01 2.4
---------------------------------------------------------------------
Average for all syenite 0.153 0.048 0.01 1.2
porphyry samples - total
of 24 meters
---------------------------------------------------------------------
Sample RL007 taken from waste dump on east side of pit
---------------------------------------------------------------------
RL007 - 0.83 0.79 0.03 8.8
---------------------------------------------------------------------


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Contact Information

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