Pacific Iron Ore to Delay Filings Under CSA Instrument Governing Relief Under COVID-19 Duress

Toronto, Ontario--(Newsfile Corp. - October 1, 2020) -  Pacific Iron Ore Corporation. (the "Company" or "Pacific Iron Ore") announces that, further to its news release dated August 27, 2020, the Company is expecting to file its unaudited interim financial statements and related management discussion and analysis for the period ended June 30, 2020 by the extension date of October 13, 2020, pursuant to Canadian Securities Administrators and Blanket Order 51-517 - Temporary Exemption from Certain Corporate Finance Requirements (Alberta). The Company continues to work diligently with its auditors to prepare to file the interim filings by the said date.

The Company is relying on the exemption with respect to the delay in interim filings in accordance with BC Instrument 51-515 - Temporary Exemption from Certain Corporate Finance Requirements, and Blanket Order 51-517 - Temporary Exemption from Certain Corporate Finance Requirements (Alberta). Accordingly, the Company discloses the following:

• the Company's management and other insiders will be subject to a trading black-out that reflects the principles in Section 9 of National Policy 11-207 - Failure-to-File Cease Trade Orders until its unaudited interim financial statements and related management discussion and analysis for the period ended June 30, 2020 are filed;

• the Company expects to file its unaudited interim financial statements and related management discussion and analysis for the period ended June 30, 2020 on or about October 13, 2020; and,

• since the Company's first news release regarding its delayed filings on August 27, 2020, there have been no material business developments.
  
  

On behalf of the Board of Directors,

PACIFIC IRON ORE CORPORATION

Binyomin Posen
CEO, CFO, and Director
T: 416 481-2222 (ext. 246)

Cautionary Statement and Forward-Looking Information: This news release may contain forward-looking statements including, but not limited to, the anticipated dates on which the Company expects to file its unaudited interim financial statements and related management discussion and analysis for the period ended June 30, 2020. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement. Accordingly, readers should not undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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