POC Pacific Iron Ore Corporation

Pacific Iron Ore Corporation (TSX VENTURE:POC), announces that it has filed its
Financial Statements and Management Discussion and Analysis for the three and
six months ended June 30, 2011. These documents are now available on SEDAR. 


2011 Drilling Activity 

During the first six months of 2011 POC has drilled an additional 17 diamond
drill core holes on the Port Renfrew Project. The locations for which were
determined in consultation with Wardrop Engineering Inc., of Vancouver, British
Columbia ("Wardrop"). Also in January 2011 Wardrop updated its 2009 resource
estimate for the Bugaboo Creek Area located within the Pearson Project, to
assess the results of the 2008 Exploration Program and provided recommendations
for additional diamond drilling to be completed in 2011. In their report,
Wardrop estimated that the Bugaboo Creek deposits which comprises a small
component of the Port Renfrew Block, contain inferred resources of 14.2 million
tonnes, grading 60% magnetite prior to any update required for the 2011
Exploration Program. See press release of April 6, 2011 for further details in
this regard.


2011 Results 

During the first six months of 2011 the Corporation incurred a net loss of
$663,531 or $0.01 per common share as compared to a net loss of $703,814 or
$0.01 per common share in the first six months of 2010. 


The net loss for the three months ended June 30, 2011 amounted to $100,453 as a
result of the individual items set out above as compared to a net loss of
$196,249 in the same period in 2010.


Its major expenses inured in the six month period included:

Operating expenses totaled $75,965 in 2011 as compared to $83,412 in 2010 an
decrease of $7,447. In 2011, the major categories of expenditure were as
follows:




--  Amortization of equipment of $19,779 ($17,760 in 2010). 
--  Consulting costs of $31,200 ($31,200 in 2010) relating to operational
    management services provide to the Corporation which did not pertain to
    exploration or financial services 
--  Travel costs of $4,746 ($9,735 in 2010) incurred in transporting staff,
    advisors and investors to the Corporation's principal mining properties.
--  Office, rent and utility expenses of $10,458 ($11,197 in 2010). 
--  Automotive related costs of $4,872l ($6,952 in 2010). 
--  Insurance costs of $4,610 ($6,468 in 2010).



Mineral property acquisition costs and exploration costs expensed during the
period totaled $101,616 as compared to $96,624 in 2010 due to higher costs
associated with maintaining access to claims where significant exploration costs
had not be incurred.


General and administrative expenses totaled $156,245 in 2011 as compared to
$163,575 in 2010, a decrease of $7,330. In 2011, the major categories of
expenditure included:




--  Legal and accounting fees $104,487 ($117,054 in 2010). The costs are
    associated with annual audit, adoption of International Financial
    Accounting Standards ("IFRS") and review procedures, filing of tax
    returns, consulting services provided in the preparation of interim
    statements and regulatory filings and general corporate advisory
    services. Also see disclosures with respect to related party
    transactions. 
--  Advertising, Investor relations, corporate communication and security
    exchange fees totalling $43,568 ($19,254 in 2010).  
--  Insurance costs of $7,171 ($7,906 in 2010).



Write downs of mineral properties totaled $nil in both 2011 and 2010 as a result
of changes associated with the adoption of IFRS. 


Stock based compensation expense totaled $155,883 ($78,512 in 2010) and arises
from the issuance of stock options and broker warrants during the period. 


Net financial expenses during the period totaled $2,846 as compared to $22,312
in the prior period. Financial income consists of interest earned on invested
cash deposits. Cash deposits are comprised solely of bank investment
certificates with a maturity date of less than one month and are on deposit with
a Canadian Chartered Bank. Financial expenses are comprised interest and bank
charges and accruals for Part XII taxes.


Income taxes during the year amounted to $170,976 as compared to a recovery of
$259,379 in the prior year principally as a result of recognizing the deferred
income taxes on flow through share obligations offset by the future benefit of
discretionary income tax deductions and net operating losses carried forward for
income tax purposes. 


During 2011, subject to maintaining sufficient capital resources to support its
activities, the Corporation anticipates spending approximately $1,500,000 on
exploration activities to fulfill its flow through expenditure commitments.
Limited amounts will be spent on the acquisition of mineral properties and
equipment. During 2011, the Corporation will focus its efforts on the Port
Renfrew property in British Columbia and the St. Anthony Project in Ontario.
These expenditures will be financed with the Corporation's existing working
capital balances. Should equity markets permit, the Corporation will consider
the issuance of additional equity to finance these activities.


Corporate Direction and Strategy 

Pacific Iron Ore Corporation is dedicated to the development of its strategic
mineral deposits, located in the Port Renfrew area (iron resources) of Vancouver
Island, British Columbia, as well as, in the Kenora area (gold resources) of
Ontario. With the success of the previous exploration and the existence of
sufficient capital resources to undertake additional exploration activities in
2011, the Corporation is well-positioned to continue its exploration efforts. 


It is the objective of Pacific Iron Ore Corporation to delineate 20 million
tonnes of high-grade iron ore in the existing deposits and complete a
pre-feasibility study for the production of iron concentrates to be sold
directly to the Far East. It is believed that the high-grade nature of the
deposits, proximity to tide-water, and the existence of Port Facilities such as
the Port of Naniamo Duke Point facility, will significantly benefit the
potential projects economics along with the current high demand and pricing for
iron concentrates. The Corporation has set an objective to identify sufficient
resources to allow for a production capacity of 2 million tonnes per year of
iron concentrates from the site.


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.

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