Pacific Iron Ore Corporation Announces the Initial Exploration Results of St. Anthony's Exploration Program

    CALGARY, Aug. 31 /CNW/ - Pacific Iron Ore Corporation (TSX.V: POC)
announces that the initial channel sample results have been received on the
St. Anthony's Gold project. The St. Anthony's project has the potential to
host gold resources, is located in Ontario and is comprised of 54 mining
claims and 14 leases covering 8,784 hectares.
    Mr. Jeffery Austin, President of Pacific Iron Ore Corporation reports
that, "Phase 1 of the previously announced work program on the St. Anthony's
project is proceeding well, with encouraging results having already been
received from sampling along the No.1 zone". This zone was previously mined
from 1905 to 1941 and produced 63,310 ounces gold from 331,069 tons. Initial
exploration results have identified quartz veining in mineralized quartz
feldspar porphyry and demonstrate both the potential for narrow high grade
gold values contained within vein structures, and the potential for finding
gold values outside the traditional veining. Channel sampling has been
restricted to outcrop exposures at right angles to quartz veining provided the
following results:

    -   Channel No.12: East end UTMs: 666612E, 5552843N - 17.95 gpt Au over
        7.5 m's
    -   Channel No.16 :East end UTMs: 666635E, 5552879N -1.0 gpt Au over
        14.9 m's
    -   Channel No.20: East end UTMs: 666638E, 5552885N - 0.91 gpt Au over
        30.0 m's
    -   Channel No.22: East end UTMs: 666626E, 5552944N - 2.46 gpt Au over
        11.8 m's

    Mr. Austin stated that "these results confirm historic gold values and
will better outline the distribution of gold in the various rock types within
the prospect. Additionally, prospecting samples gathered over a larger area
have continued to return encouraging results". Assays are pending for a large
number of samples submitted to ALS Chemex.

    St. Anthony's Gold Project:

    The St. Anthony's Gold Project contains the largest past producing gold
mine in the Kenora-Patricia Mining District of Ontario. The original St.
Anthony mine is located in the Sturgeon Lake Greenstone geological Belt and
produced 63,310 oz. gold from 332,720 tons with an average recovered grade of
0.191 ounce gold per ton.

    Quality Control of Reported Results

    The St Anthony's Gold project, exploration program is being undertaken
pursuant to the recommendations contained in the independent NI 43-101 report
dated June 12, 2009 entitled "Technical Report on the St. Anthony and
Best/King Bay Properties" prepared by Mr. Graeme Evans, P. Geo. of Kamloops,
British Columbia. A copy of the 43-101 Technical Report is available under the
Corporations profile on SEDAR and can be accessed at
    Mr. Graeme Evans, P. Geo of Kamloops, British Columbia, an independent
geological consultant, is the Qualified Person on the St. Anthony's Project
under the guidelines of NI 43-101. Mr. Evans oversees the completion of the
Technical Report and has reviewed and approved the technical disclosure
contained in this press release relating to that project.
    The rock samples were provided to ALS Chemex, an ISO 9001 and ISO 17025
accredited facility located in North Vancouver, British Columbia, for analysis
and processing. The samples taken were analyzed for 33 elements by induction
coupled plasma mass spectroscopy (ICP-AES) and for gold by ore grade fire
assay on a 50 g sample with a atomic absorption spectroscopy (AA) finish.

    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

    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.

For further information:

For further information: please refer to the Corporations profile on
SEDAR which can be accessed at, visit our website at or contact: Todd Montgomery, Chief Executive
Officer, Telephone: (403) 228-0607, Facsimile: (403) 262-4860; Leonard Cornez,
Chief Financial Officer, Telephone: (403) 218-0294 or 1-866-682-5812,
Facsimile: (403) 265-2887; Jeffery Austin, President, Telephone: (250)
763-4892, Facsimile: (403) 265-2887

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