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 years ended
December 31, 2011 and 2010. These documents are now available on SEDAR.


2011 Results

During 2011 the Corporation generated interest revenue of $8,518 (2010- $4,704)
and incurred a net loss of $1,126,541 or $0.02 per common share (2010-
$1,218,125 or $0.02 per common share). Its major expenses included: operating
expenses of $141,572 (2010- $163,350); general and administrative costs of
$295,508 (2010- $355,497); stock based compensation expenses of $154,160 (2010-
$372,989); the write-down of mineral properties of $312,667 (2010- $39,323). The
Corporation also received the benefit of recognizing future income tax
recoveries of $172,421 (2010- $215,850) during the year.


Operating expenses totaled $141,572 in 2011 as compared to $163,350 in 2010, a
decrease of $21,778. In 2011, the major categories of expenditure were as
follows:




--  Amortization of equipment of $41,872 ($51,629 in 2010). 
--  Consulting costs of $53,200 ($49,200 in 2010) relating to operational
    management services provided to the Corporation which did not pertain to
    exploration or financial services. 
--  Part XII taxes of $6,327 ($20,400 in 2010) incurred on deferred
    exploration program costs renounced by the Corporation. 
--  Travel costs of $10,097 ($18,417 in 2010) incurred in transporting
    staff, advisors and investors to the Corporation's principal mining
    properties. 
--  Office, rent and utility expenses of $20,025 ($22,361 in 2010). 
--  Automotive related costs of $5,243 ($7,236 in 2010). 
--  Insurance costs $10,359 ($14,370 in 2010). 
--  Exploration costs expensed of $242,034 ($119,209 in 2010) as the
    Corporation expensed incidental costs incurred on minor projects in
    2011. 



General and administrative expenses totaled $295,508 in 2011 as compared to
$355,497 in 2010, a decrease of $59,989. In 2011, the major categories of
expenditure included: 




--  Legal and accounting fees $228,028 ($284,263 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 totaling $51,556 ($50,102 in 2010). 
--  Insurance costs of $14,342 ($12,517 in 2010). 
--  Interest expenses and bank charges totaled $2,773 ($2,476 in 2010). 



Write downs of mineral properties totaled $312,667 in 2011 as compared to
$39,323 in 2010. After accessing the preliminary results of the 2008 to 2011
Exploration Programs, the remaining financial resources of the Corporation, the
ability to raise additional capital and management's belief of the future
potential of certain mining claims in British Columbia and Ontario, the
Corporation wrote off the deferred costs associated with certain claims.


Stock based compensation expense totaled $154,160 ($372,989 in 2010) and arises
from the issuance of stock options and broker warrants during the period. 


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 or contact Todd Montgomery.


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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