Vancouver, BC - July 10th, 2012
PacificOre Mining Corp.(TSX.V: "PC"), (U.S.A. OTCQX: "APAFF"), and (Frankfurt Symbol: "NWN"), and its subsidiary Prestige Mining Corporation are pleased to announce the results of the pre-drill field program executed on its 100% owned Lac Dore Vanadium-Iron-Titanium Project. The Lac Dore Project comprises 42 claims (672 Ha), including the 18 claims awarded in 2011 which cover the main Lac Dore Zone. The project is located approximately 80 km (50 miles) from the mining centre of Chibougamau, Quebec. The property contains a very important and integral part of the well-known Lac Dore Vanadium-Iron-Titanium deposit, which has been developed over more than 40 years, historically as a crown asset of the "Minist�re des Ressources naturelles et de la Faune" of Quebec.
In April 2012, the consulting firm Les Consultants Aurus Inc. (Aurus) from Chibougamau surveyed the old McKenzie Bay International Limited (MKBY)base line and the various stripped areas over the Lac Dore deposit. The work was carried out in cooperation with PacificOre's own geological team which, at the same time, was in the field searching for and locating the historic drill sites and recording their locations utilizing current GPS techniques. It is noted that the previous work carried out by the Quebec Government was made using the Imperial measuring system. PacificOre's consultants noted several discrepancies in the surveying of MKBY's historic base line, which have since been corrected, and the appropriate database updated to current standards. In addition, the consultants were commissioned to establish three permanent bench marks linked to the Canadian Spatial Reference System (CSRS) which provides fundamental reference values for latitude, longitude, height and gravity, GPS/GNSS products and services for reliable, consistent positioning as well as useful geodetic calculators. In fact, Aurus installed five permanent bench marks, of which, three of them are located on the base line.
All the surveying work has now been completed. The PacificOre/Prestige geological/prospecting team assisted the surveyors and searched for the historic diamond drill hole locations. Each historic drill-hole identified, has now been accurately recorded with GPS and the coordinates will be used to update the Lac Dore database. Several of the historic drill-hole casings were found in place; some of them were partially destroyed during a 1989 timber cutting operation.
The two casings left by SNC Lavalin Inc. during the course of their Lac Dore study for McKenzie Bay Resources Ltd. (MKBY) in 2001have been located intact. They correspond to holes 2001-05 and 2001-06. Those particular two holes were drilled along the NE extension of main deposit. Holes 2001-05 and 2001-06 will be twinned during the initial diamond drilling program planned by PacificOre/Prestige.
It has been reported in filings with the Minist�re des Ressources naturelles of Quebec that historic drill-hole 2001-05 returned two mineralized intersections which are as follows:
1) 1.13% V2O5, 9.54% TiO2 and 25.11% oxides over 6.70 metres;
2) 1.21% V2O5, 9.81% TiO2 and 35.93% oxides over 29.35 metres.
Also in the Minist�re des Ressources naturelles of Quebec files, historic drill-hole 2001-06 returned several mineralized zones which have been grouped in a composite intersection. Results were as follows:
1.26% V2O5, 7.52% TiO2 and 24.34% oxides over 148 metres.
Note: V2O5 and TiO2, at the time of the historic drilling on Lac Dore, were assayed on a concentrate obtained from a Davis Tube concentrator.
The above information is provided for reference purposes only. The historic results do not conform to the requirements of National Instrument 43-101 and should not be relied upon for any other purposes. The Company cautions that a qualified person has not done sufficient work on the Lac Dore Deposit to confirm the above noted assays, or to classify any historical estimates and therefore historical pre NI 43-101 information should not be relied upon on as an indicator of actual resource or reserve estimates, and should be construed only as conceptual in nature.
The old MKBY grid was re-established and refreshed during the Pacificore/Prestige 2012 field program. Many transversal lines of the eastern area have now been extended to the Northwest and Southeast. A total of 42 km of lines were cut, picketed and surveyed with a GPS. This grid will be used for a new magnetic survey which will be started as soon as possible, and for other field work.
During May and June 2012, the field geological team was employed to channel sample several previous MKBY stripping areas in order to confirm the intersections of the mineralization and their grades. This most recent phase of the 2012 pre-drill program involved channel sampling several previous high priority MKBY stripping areas. This new channel sampling has the distinct purpose of confirming the previous intersections of the mineralization and their grades; and very importantly, can be considered as a horizontal twin hole. To date, a total of 480 samples representing a total length of 720 metres have been delivered from the field. The sample bags will be shipped to a certified laboratory for analysis.
This press release has been reviewed by Dr. Christian Derosier, P. Geo., Consulting Geologist and Qualified Person for the Lac Dore Project under National Instrument NI 43-101.
Additional information, as it is available, will be contained on the Company's website at www.pacificoremining.com or the company can be contacted at 604-683-8990.
ON BEHALF OF THE BOARD OF DIRECTORS OF PACIFICORE MINING CORP.
"Patrick D. O'Brien"
Patrick D. Brien, ICD.D - Chairperson
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