Mr. Richard Bonnycastle reports

PACIFIC IRON ORE CORPORATION ANNOUNCES RELEASE OF JUNE 30, 2015 FINANCIAL STATEMENTS AND MANAGEMENT DISCUSSION AND ANALYSIS AND RETURN OF CHIEF FINANCIAL OFFICER

Pacific Iron Ore Corp. has filed its financial statements and management's discussion and analysis for the six months ended June 30, 2015. These documents are now available on SEDAR.

Second quarter 2015 results

During the first six months of 2015, the corporation incurred a net loss of $254,550, or four cents per common share, as compared with a net loss of $261,476, or four cents per common share, in the first six months of 2014.

Its major expenses incurred in the three-month period included:

Operating expenses totalled $52,275 in 2015 as compared with $74,593 in 2014, a decrease of $22,318.

Mineral property acquisition costs and exploration costs expensed during the period totalled $89,648 as compared with $108,775 in 2014.

General and administrative expenses totalled $103,009 in 2015 as compared with $82,436 in 2014, an increase of $20,573.

Net financial income during the period totalled $3,454 as compared with $4,468 in the prior period. Financial income consists of interest earned on invested cash deposits and unrealized gains or losses on marketable securities. Cash deposits comprise solely bank investment certificates with a maturity date of less than one month and are on deposit with a Canadian chartered bank. Financial expenses comprised interest and bank charges, fair value adjustments on assets held for sale, and accruals for Part XII taxes.

Liquidity

At June 30, 2015, cash and short-term deposits totalled $2,258,998 and non-cash working capital was $39,692 for the current period.

Chief financial officer

Effective today, the corporation announces the return of Carlyn Dahl to the offices of chief financial officer and corporate secretary, and extends its appreciation to Robert Tedford for his interim services.

We seek Safe Harbor.