CALGARY, AB / ACCESSWIRE / November 26, 2018 / Pacific Iron Ore Corporation (TSX.V: POC)
announces that it has filed its Financial Statements and Management Discussion and Analysis for the nine months ended September 30,
2018. These documents are now available on SEDAR.
2018 Third Quarter Results
During the first nine months of 2018 the Corporation incurred a net loss of $318,185 or ($0.05) per common share as compared to
a net loss of $286,189 or ($0.04) per common share in the first nine months of 2017.
Its major expenses incurred in the three-month period included:
Operating expenses totaled $73,111 in 2018 as compared to $57,137 in 2017, an increase of
$15,974.
Mineral property acquisition costs and exploration costs expensed in 2018 totaled $31,454 as
compared to $103,704 in 2017.
General and administrative expenses totaled $209,945 in 2018 as compared to $124,375 in 2017, an
increase of $85,570.
Net financial (expenses) income during the period totaled ($3,675) as compared to $3,602 in the
prior period. Financial income consists of interest earned on invested cash deposits and unrealized gains or losses on marketable
securities. Cash deposits are comprised solely of bank investment certificates with a maturity date of less than one month and are
on deposit with a Canadian Chartered Bank. Financial expenses are comprised interest and bank charges, fair value adjustments on
assets held for sale and accruals for Part XII taxes.
Liquidity - At September 30, 2018 Cash and short-term deposits totaled $627,951 and working capital
of $541,302 for the current period.
Company Contacts:
For further information please refer to the Corporations profile on SEDAR which can be accessed at www.sedar.com, visit our website at www.pacificironorecorp.com or contact:
R. A. N. Bonnycastle, Chief Executive Officer
Telephone: (403) 269-6795
Facsimile: (403) 265-2887
Forward Looking Statements:
The TSX.V Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This
release includes certain statements that may be deemed "forward looking statements". All statements in this release, other than
statements of historical facts that address future production, reserves potential, exploration drilling, exploration activities and
events or developments that the Corporation expects are forward looking statements. Although the Corporation beliefs the
expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees
of future performance and actual results or developments may differ materially from those in the forward looking statements.
Factors that could cause results to differ materially from those in the forward looking statements include, but are not limited to:
market prices; exploitation and exploration successes; continued availability of capital, financing and personnel; government
regulation and laws; the Corporations relationship with First Nations; environmental developments; and general economic, market or
business conditions. Investors are cautioned that such statements are not guarantees of future performance and those actual results
or developments may differ materially from those projected in the forward looking statements. For more information on Pacific Iron
Ore Corporation, Investors should review the Corporation's registered filings which are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provide (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Pacific Iron Ore Corporation
