Pacific Comox Resources Ltd.
TSX VENTURE : PCM

Pacific Comox Resources Ltd.

October 16, 2006 00:05 ET

Pacific Comox Resources Ltd.: Near Surface Intersection Of 0.17% '3.4 lbs/ton' Molybdenum & 0.11% Copper Over 18 Feet

TORONTO, ONTARIO--(CCNMatthews - Oct. 16, 2006) - Pacific Comox Resources Ltd. (TSX VENTURE:PCM) reports the assays for ten diamond drill holes testing the area of the past producing molybdenum open pit (the North Zone) at its optioned Ryan Lake copper/molybdenum property at Matachewan, Ontario. The current diamond drill program follows on the fourteen holes completed in 2005-06 and previously reported. The assays for the current program are given below in Table 1. A resource estimate is being prepared for the North Zone drill intersected mineralization.

Of the 20 holes completed in the North Zone, 12 holes have reported a total of 15 intervals with an average grade of 3.3 lbs/ton or 0.16 % molybdenum. The average length of the intervals was 11 metres or 37 feet starting at 16 metres or 52 feet in the core. The average copper grade in the intervals was 0.12%.

The North Zone is located about 1,000 feet north of the past producing underground copper/molybdenum mine and the mill. After preliminary testing of two other areas on the property diamond drilling is now concentrated in the area of the former underground copper/molybdenum mine where five holes were previously drilled and reported encouraging results.

The optioned Ryan Lake copper-molybdenum property consists of 10 claims totaling 513 acres. 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 Dan Crossley P. Eng.. The samples were assayed by Swastika Laboratories Ltd. at Swastika, Ontario.

Donald Empey, President

View the Company filings on SEDAR at www.sedar.com.



PACIFIC COMOX RESOURCES LTD.
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Table 1:SUMMARY OF2006 NORTH ZONE DRILLING RESULTS
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Drill Hole From To Length Length Cu Cu Mo Mo
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PC-06- (m) (m) (m) (feet) (%) (lbs/ton) (%) (lbs/ton)
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20 UTM 17T 522514, 5313671, Length 125m (410 ft),
Azimuth 300(degrees), Dip -50(degrees)
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4.0 37.9 34 111 0.04 0.7 0.06 1.20
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Including 13.0 19.0 6 20 0.02 0.5 0.10 1.96
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Including 28.0 37.0 9 30 0.07 1.3 0.11 2.10
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41.5 64.5 23 75 0.03 0.6 0.06 1.14
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Including 50.5 62.5 12 39 0.01 0.3 0.08 1.56
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21 UTM 17T 522548, 5313650, Length 92m (302 ft),
Azimuth 300(degrees), Dip -50(degrees)
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31.4 38.0 7 22 0.01 0.1 0.02 0.36
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50.0 70.5 21 67 0.01 0.2 0.08 1.56
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Including 53.0 69.5 17 54 0.01 0.2 0.10 1.96
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22 UTM 17T 522502, 5313677, Length 76m (249 ft),
Azimuth 300(degrees), Dip -50(degrees)
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1.0 7.0 6 20 0.01 0.2 0.02 0.34
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12.5 17.4 5 16 0.06 1.2 0.02 0.45
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23 UTM 17T 522499, 5313683, Length 101m (331 ft),
Azimuth 220(degrees), Dip -50(degrees)
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2.1 8.8 7 22 0.02 0.4 0.01 0.18
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17.0 45.7 29 94 0.02 0.4 0.01 0.28
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24 UTM 17T 522500, 5313685, Length 104m (341 ft),
Azimuth 40(degrees), Dip -50(degrees)
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32.5 34.2 2 6 0.56 11.1 0.03 0.54
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44.0 66.5 23 74 0.06 1.1 0.04 0.84
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25 UTM 17T 522507, 5313717, Length 101m (331 ft),
Azimuth 40(degrees), Dip -50(degrees)
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9.2 12.0 3 9 1.08 21.6 0.07 1.44
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42.0 48.0 6 20 0.04 0.8 0.03 0.58
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26 UTM 17T 522519, 5313679, Length 94m (308 ft),
Azimuth 220(degrees), Dip -50(degrees)
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1.8 30.8 29 95 0.03 0.6 0.04 0.88
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Including 1.8 8.0 6 20 0.05 1.0 0.11 2.18
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27 UTM 17T 522517, 5313676, Length 81m (266 ft),
Azimuth 40(degrees), Dip -50(degrees)
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1.8 50.0 48 158 0.04 0.7 0.072 1.44
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Including 1.8 14.8 13 43 0.06 1.2 0.101 2.02
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Including 27.5 39.5 12 39 0.04 0.9 0.136 2.72
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53.0 75.5 23 74 0.01 0.3 0.02 0.34
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28 UTM 17T 522522, 5313672, Length 49m (161 ft),
Azimuth 300(degrees), Dip -50(degrees)
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9.5 30.0 21 67 0.06 1.1 0.08 1.68
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Including 24.4 30.0 6 18 0.11 2.1 0.17 3.42
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29 UTM 17T 522531, 5313682, Length 96m (315 ft),
Azimuth 300(degrees), Dip -50(degrees)
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1.8 23.1 21 70 0.03 0.5 0.02 0.44
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Including 10.5 16.5 6 20 0.06 1.2 0.08 1.50
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45.0 57.0 12 39 0.03 0.6 0.04 0.70
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64.4 71.0 7 22 0.01 0.2 0.02 0.48
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Gold and silver values returned not significant.
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October 6, 2006
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