Pacific Iron Ore Corp.
TSX VENTURE : POC

Pacific Iron Ore Corp.

August 26, 2009 18:58 ET

Pacific Iron Ore Corporation Commencement of 2009 Exploration Program for Port Renfrew Project

CALGARY, ALBERTA--(Marketwire - Aug. 26, 2009) - Pacific Iron Ore Corporation (TSX VENTURE:POC) announces that it has commenced its 2009 diamond drilling program for 2009. Mr. Jeffery Austin, President of Pacific Iron Ore Corporation stated that "the Corporation intends to drill approximately 30 diamond drill core holes focusing 40% of these on the Bugaboo Creek area with the intention of expanding the resource previously identified in the Engineering Study and resource estimate previously prepared by Wardrop Engineering Inc., of Vancouver, British Columbia". Mr. Austin also stated "the remainder of the drill program will focus the Corporation's exploration efforts on targets identified in the 2008 Fugro airborne geophysics study and subsequent follow-up ground mapping.

Pearson Project Update:

During the first half of 2009, the Corporation focused its efforts on interpreting the results of its 2008 Exploration Program, evaluating geophysics data from Fugro, completing resource estimates and completing a 1:5000 scale geological mapping, starting on the Bugaboo area. This area has now been mapped with sufficient detail for the creation of a geological interpretation map in order to shed light on the geological setting and controls on magnetite skarn mineralization. The purpose of this mapping, with the addition of the diamond drill program in the Bugaboo Creek area is to try to expand the previously defined resources. Management's view is that the David-Sirdar-Elijah historical showings exhibit potential for additional resources being added to the project.

Regional mapping was also completed on the Granite creek (1:5000 scale mapping) with five definitive targets identified and mapped to a 1:1000 scale. All five of these show massive magnetite outcrops with large, well-defined aerial and ground magnetic anomalies. Skarn mineralization in the Granite Creek area typically are copper rich when compared to the Bugaboo iron skarns. Mapping of the P12 area has revealed magnetite along the marble-intrusive contact. Additional diamond drilling of approximately 20 holes is scheduled for the fall of 2009 and should assist in further defining the potential of these anomalies.

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.

Quality Control of Reported Results

Mr. Garry Payie, P. Geo of Victoria, British Columbia, an independent geological consultant, is the Qualified Person on the Pearson Project under the guidelines of NI 43-101. Mr. Payie oversees the Corporation's exploration program with respect to the Pearson Project and has reviewed and approved the technical disclosure contained in this press release relating to that project. Wardrop Engineering Inc., has also reviewed and approved the disclosures in this press release related to their report dated June 4, 2009. Dr. Gilles Arsenault, P Geo. supervised the preparation of the Technical Report on behalf of Wardrop.

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
    CEO
    (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
    Pacific Iron Ore Corporation
    Jeffery Austin
    President
    (250) 763-4892
    (403) 265-2887 (FAX)
    Website: www.pacificironorecorp.com