Business NewsMarketWire • Acquisition of Common Shares of Pacific Iron Ore Corporation

Acquisition of Common Shares of Pacific Iron Ore Corporation

Acquisition of Common Shares of Pacific Iron Ore Corporation

CALGARY, ALBERTA--(Marketwire - Dec. 3, 2010) - Pursuant to the disclosure requirements of applicable securities laws, R.A.N. Bonnycastle ("Bonnycastle") reports that he indirectly acquired ownership of a total of 3,231,579 common shares ("Common Shares") in the capital of Pacific Iron Ore Corporation (the "Corporation"), including 2,631,579 Common Shares which were issued on a "flow through" basis. The Corporation issued the Common Shares from treasury to Cavendish Investing Ltd., a private corporation controlled by Bonnycastle, at a price of Cdn $0.34 per Common Share ($0.38 if issued on a flow through basis).

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