Pacific Iron Ore Corp. Announces Change to Its Board of Directors and Management October 23, 2019

CALGARY, Oct. 23, 2019 - Pacific Iron Ore Corp. (the "Corporation") announces the resignation of R.A.N. Bonnycastle as Chief Executive Officer, President, and director, and thanks him for his years of dedicated leadership. The Corporation further announces the resignations of Alexander S. Harvey and Peter Vanderplaat as directors, and thanks them for their service to the Corporation. The following individuals have been appointed to fill the vacancies created by these resignations:

Joel Freudman, President, Chief Executive Officer, and Director: Mr.Freudman is the President of Resurgent Capital Corp., a Toronto-based merchant bank that works exclusively with high-potential Canadian micro-capitalization public and pre-public companies. He is also President, Chief Executive Officer, and a director of each of Trius Investments Inc. (TRU.H) and IM Exploration Inc. (IM). Mr. Freudman started his career in private practice as a securities and mergers and acquisitions lawyer before transitioning in-house as legal counsel to various wealth management businesses at two major Canadian financial institutions. Mr. Freudman is a member of the Law Society of Ontario, and holds a Juris Doctor degree from Western University and a Bachelor of Commerce degree from the University of Toronto.

Damian Lopez, Director: Mr. Lopez is a corporate lawyer with extensive mergers and acquisition and corporate finance experience. Mr. Lopez is currently a legal consultant to various Toronto Stock Exchange and TSX Venture Exchange listed companies in various sectors including mining, cannabis, financial services, agriculture and technology. Mr. Lopez is currently the Chief Executive Officer of Wolf Acquisition Corp (WOLF.P), Chairman of Trius Investments Inc. (TRU.H) and also acts as the Corporate Secretary of various Toronto Stock Exchange and TSX Venture Exchange listed companies. Mr. Lopez began his legal career as a corporate law associate at Stikeman Elliott LLP. Mr. Lopez holds a Bachelor of Commerce from Rotman Commerce, University of Toronto and a J.D. from Osgoode Hall Law School.



Company Contacts:

For further information please refer to the Corporation's profile on SEDAR which can be accessed at www.sedar.com or contact:

Joel Freudman, Chief Executive Officer
Pacific Iron Ore Corp.
Telephone: (647) 880-6414