PCM Fund Inc V.PCM

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SEPTEMBER 19, 2005 - 06:30 ET Pacific Comox Resources Ltd. Reports the Assays for the 5 Hole Diamond Drill Program TORONTO, ONTARIO--(CCNMatthews - Sept. 19, 2005) - Pacific Comox Resources Ltd. (TSX VENTURE:PCM) - Assays reported for 5 diamond drill holes in the area of the former underground mine at the Ryan Lake copper/molybdenum property, - Hole PC-05-03 returned an intersection of 29.1ft from 199.5ft grading 0.61% copper, 0.074% (1.63 lbs/tonne) molybdenum, plus gold and silver values. Pacific Comox Resources Ltd. (TSX VENTURE:PCM) reports the assays for the 5 hole diamond drill program which tested the open pit, bulk-tonnage potential of the northern part of the area mined from underground during the 1950-62 period. The assays for the five holes are summarized below in Table 1. The results demonstrate the potential to extend the mineralized zone east and west on strike with the former underground workings and at depth. Hole PC-05-02 returned an intersection of 52ft from 95.7ft, grading 0.44% copper, 0.030% (0.66 lbs/tonne) molybdenum, 0.05g/tonne gold and 0.08g/tonne silver. Hole PC-05-03 intersected the underground workings before reaching the targeted depth. The hole returned a 29.1ft intersection from 199.5ft, grading 0.61% copper, 0.074% (1.63 lbs/tonne) molybdenum, 0.06g/tonne gold and 4.87g/tonne silver. Hole PC-05-05 returned an intersection of 61.1ft from 194.7ft, grading 0.56% copper, 0.052% (1.15 lbs/tonne) molybdenum, 0.11g/tonne gold and 4.60g/tonne silver. The optioned Ryan Lake copper-molybdenum property consists of 10 claims totaling 513 acres, located near Matachewan, and Kirkland Lake, Ontario. The property was put it into production in 1950 at a 150 ton/day rate with a shaft sunk to 459 feet with development on 4 levels. The development extended for 1,000 feet on an east-west direction and about 500 feet north-south. The J. F. Ariz report dated October 20, 1978 gave the production during the 1950-1957 period as 163,490 tons grading 1.5% copper, 0.008 oz of gold and 0.21 oz of silver. A successor Company was also reported to have processed 6,000 tons grading 1.3% copper and 0.4% molybdenite in 1964 from an open pit approximately 1,000 ft north of the underground mine. No production or significant exploration is reported on the property since 1966. As previously reported Comox also has an option to acquire the mill on the property which is currently processing barite. The mill has crushing and grinding capacity of several hundred tonnes per day and would be a major asset going forward to facilitate the resumption of copper/molybdenum production on the property. The historical production data given above is not in compliance with N.I. 43-101. 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 the above mentioned reports, and supervised the drilling program. The geologist on the program was Murray McGill P. Geo.. The samples were assayed by Swastika Laboratories Ltd. at Swastika, Ontario. Donald EmpeyPresident 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. One Dundas Street West, Suite 2300, Box 13,Toronto, Ontario Canada M5G 1Z3 --------------------------------------------------------------------- PACIFIC COMOX RESOURCES LTD. --------------------------------------------------------------------- Table 1: Diamond Drill Assays From Ryan Lake Property --------------------------------------------------------------------- Former Underground Mine Area --------------------------------------------------------------------- --------------------------------------------------------------------- Mo Hole # From To Length Copper Mo (lbs/ Gold Silver (ft) (ft) (ft) (%) (%) tonne) (g/tonne) (g/tonne) --------------------------------------------------------------------- ---------------------------------------------------------------------PC-05-01 Section 9973E, Northing 10127, Length 655.1 ft., Azimuth 0 degrees, Dip -45 degrees --------------------------------------------------------------------- 101.6 507.5 405.9 0.18 0.013 0.29 0.03 0.15 ---------------------------------------------------------------------Including 109.4 118.7 9.3 0.42 0.011 0.24 0.08 0.07 ---------------------------------------------------------------------Including 177.5 198.8 21.3 0.51 0.036 0.79 0.08 0.10 ---------------------------------------------------------------------Including 270.0 278.5 8.5 0.28 0.022 0.49 0.07 0.11 ---------------------------------------------------------------------Including 291.0 300.5 9.5 0.38 0.019 0.42 0.06 0.07 ---------------------------------------------------------------------Including 389.6 430.7 41.1 0.42 0.039 0.86 0.02 0.09 ---------------------------------------------------------------------Including 489.0 504.2 15.2 0.48 0.105 2.31 0.04 2.99 --------------------------------------------------------------------- ---------------------------------------------------------------------PC-05-02 Section 10088E, Northing 10221, Length 408.6 ft., Azimuth 0 degrees, Dip -47 degrees --------------------------------------------------------------------- 95.7 147.7 52.0 0.44 0.030 0.66 0.05 0.08 ---------------------------------------------------------------------and 281.0 338.9 57.9 0.44 0.024 0.53 0.02 2.53 --------------------------------------------------------------------- ---------------------------------------------------------------------PC-05-03 Section 10098E, Northing 10104, Length 228.6 ft., Azimuth 0 degrees, Dip -51 degrees --------------------------------------------------------------------- 199.5 228.6 29.1 0.61 0.074 1.63 0.06 4.87 --------------------------------------------------------------------- Hole intersected stope or drift at 228.6 ft. --------------------------------------------------------------------- ---------------------------------------------------------------------PC-05-04 Section 10196E, Northing 10162, Length 257.7 ft., Azimuth 0 degrees, Dip -48 degrees --------------------------------------------------------------------- 35.0 47.0 12.0 0.26 0.020 0.44 0.04 4.00 --------------------------------------------------------------------- ---------------------------------------------------------------------PC-05-05 Section 10196E, Northing 10065, Length 426.2 ft., Azimuth 0 degrees, Dip -51 degrees --------------------------------------------------------------------- 169.9 357.6 187.7 0.29 0.026 0.57 0.05 2.21 ---------------------------------------------------------------------Including 194.7 255.8 61.1 0.56 0.052 1.15 0.11 4.60 --------------------------------------------------------------------- The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT INFORMATION Pacific Comox Resources Ltd. Donald Empey President 416 977 4653 416 977 8335 (FAX) [e-mail] www.pacificcomox.com