PCM Fund Inc V.PCM

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Pacific Comox Reports Assay Results - HOLE 67 INTERVAL OF 24 FEET GRADING 0.19% OR 3.7 LBS/TON MOLYBDENUM - HOLE 68 INTERVAL OF 72 FEET GRADING 0.14% OR 2.7 LBS/TON INCLUDING 11 FEET OF 0.37% OR 7.4 LBS/TON MOLYBDENUM TORONTO, ONTARIO--(CCNMatthews - June 14, 2007) - Pacific Comox Resources Ltd. (TSX VENTURE:PCM) reports the assays for an additional 2 diamond drill holes testing the area of the former producing underground copper mine (the South Zone) at its Ryan Lake copper/molybdenum property at Matachewan, Ontario. Hole 67 reported an interval of 24 feet grading 0.19% (3.7 lbs/ton) molybdenum, 0.3% copper, plus gold and silver starting at 124 feet. Hole 68 reported an interval of 72 feet grading 0.14% (2.7 lbs/ton) molybdenum, 0.3% copper, plus gold and silver starting at 118 feet, and including an interval of 11 feet grading 0.37% (7.4 lbs/ton) molybdenum, 0.5% copper, plus gold and silver starting at 179 feet. The assay results for the 2 holes are summarized in Table 1 in addition to the 5 holes reported on June 6, 2007. Hole 66B (June 6 news release) reported an interval of 68 feet grading 0.13% (2.7 lbs/ton) molybdenum, 0.2% copper, plus gold and silver starting at 122 feet, and including an interval of 19 feet grading 0.38% (7.5 lbs/ton) molybdenum, 0.3% copper, plus gold and silver starting at 161 feet. In the current program additional holes will be drilled both north and south of the completed holes on many of the sections to extend the 700 foot North-South dimension of the drill tested areas and the 638 feet East-West length of the current drill tested area will be extended both to the East and West. Most of the 35 reported holes do not exceed a vertical depth of 300 feet. The current program will also test the indicated mineralized zones to a depth of about 500 feet. The mill which is currently processing barite is expected to be a major asset going forward to facilitate the resumption of copper/molybdenum production on the property. Robert Hill P. Eng. serves as the qualified person (QP) for the sampling and exploration program under the definitions of National Instrument 43-101, reviewed this release and supervised the drilling program. The geologists on this program were Dan Crossley P. Eng. and Robert Van Ingen P. Eng.. The split NQ core samples were assayed by AA at Swastika Laboratories Ltd. Swastika Ontario, an accredited laboratory. Donald Empey, President For further information: please contact Donald Empey at tel: [phone], fax: [phone], email [e-mail], view the Company web site at www.pacificcomox.com or the Company filings on SEDAR at www.sedar.com. /T/ -------------------------------------------------------------- PACIFIC COMOX RESOURCES LTD. -------------------------------------------------------------- Table 1: Diamond Drill Assays From Ryan Lake Project -------------------------------------------------------------- South Zone - Former Underground Mine Area -------------------------------------------------------------- -------------------------------------------------------------- Hole # From To Length Copper Mo Mo -------------------------------------------------------------- (ft) (ft) (ft) (%) (%) (lbs/ton) -------------------------------------------------------------- -------------------------------------------------------------- PC-07-62 Section 10376E, Northing 10063, Length 410 ft., Azimuth 350 degrees, Dip -45 degrees -------------------------------------------------------------- 15 410 395 0.12 0.008 0.16 -------------------------------------------------------------- Including 87 107 20 0.26 0.045 0.90 -------------------------------------------------------------- Including 197 221 24 0.29 0.017 0.34 -------------------------------------------------------------- Including 282 292 10 0.57 0.036 0.72 -------------------------------------------------------------- -------------------------------------------------------------- PC-07-63 Section 10387E, Northing 10161, Length 370 ft., Azimuth 0 degrees, Dip -45 degrees -------------------------------------------------------------- 71 138 67 0.18 0.042 0.84 -------------------------------------------------------------- -------------------------------------------------------------- PC-07-64 Section 10326E, Northing 10113, Length 341 ft., Azimuth 0 degrees, Dip -51 degrees -------------------------------------------------------------- 16 341 325 0.17 0.012 0.24 -------------------------------------------------------------- Including 38 67 29 0.07 0.054 1.08 -------------------------------------------------------------- Including 130 193 63 0.43 0.022 0.44 -------------------------------------------------------------- -------------------------------------------------------------- PC-07-65 Section 10276E, Northing 10389, Length 489 ft., Azimuth 113 degrees, Dip -45 degrees -------------------------------------------------------------- 105 143 38 0.35 0.021 0.42 -------------------------------------------------------------- 256 281 25 0.36 0.023 0.46 -------------------------------------------------------------- 370 448 78 0.07 0.041 0.82 -------------------------------------------------------------- -------------------------------------------------------------- PC-07-66B Section 10376E, Northing 10000, Length 538 ft., Azimuth 0 degrees, Dip -50 degrees -------------------------------------------------------------- 122 190 68 0.17 0.133 2.66 -------------------------------------------------------------- Including 161 180 19 0.26 0.375 7.50 -------------------------------------------------------------- 277 303 26 0.19 0.073 1.46 -------------------------------------------------------------- 392 474 82 0.23 0.005 0.10 -------------------------------------------------------------- Including 411 439 28 0.35 0.003 0.06 -------------------------------------------------------------- -------------------------------------------------------------- PC-07-67 Section 10526E, Northing 9938, Length 482 ft, Azimuth 0 degrees, Dip -56 degrees -------------------------------------------------------------- 124 471 347 0.08 0.023 0.46 -------------------------------------------------------------- 124 148 24 0.27 0.185 3.70 -------------------------------------------------------------- -------------------------------------------------------------- PC-07-68 Section 10607E, Northing 9938, Length 430 ft, Azimuth 0 degrees, Dip -45 degrees -------------------------------------------------------------- 118 430 312 0.18 0.050 1.00 -------------------------------------------------------------- Including 118 190 72 0.34 0.137 2.74 -------------------------------------------------------------- Including 179 190 11 0.47 0.370 7.40 -------------------------------------------------------------- 306 353 47 0.20 0.014 0.28 -------------------------------------------------------------- 386 425 39 0.14 0.063 1.26 -------------------------------------------------------------- -------------------------------------------------------------- Gold and silver assays results not material -------------------------------------------------------------- 'June 14, 2007, Holes PC-07-62 to PC-07-66B previously reported on June 6, 2007 -------------------------------------------------------------- /T/ -30- FOR FURTHER INFORMATION PLEASE CONTACT: Pacific Comox Resources Ltd. Donald Empey President [phone] [phone] (FAX) Email: [e-mail] Website: www.pacificcomox.com The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.