TSX: PFN OTCBB: PAWEF Frankfurt: P7J.F
VANCOUVER, Feb. 25 /CNW/ - Pacific North West Capital Corp. ("PFN") (TSX: PFN) (OTCBB: PAWEF) (FSE:
P7J.F) is pleased to announce the appointment of Mr. Gordon Chunnett, B.Sc.
(Hons) to its Advisory Board. Mr. Chunnett has extensive global
experience in platinum group metal (PGM) operations, exploration and
mine development, with particular emphasis on Southern Africa. He has
served with Anglo Platinum Limited for approximately 31 years as Head
of Platinum Geology and Exploration. Mr. Chunnett has unparalleled
experience in the Bushveld and Great Dyke, which served well for the
exploration projects that he headed up in Brazil, Canada, Russia,
China, Zimbabwe and elsewhere.
Harry Barr, President and CEO stated "We are extremely pleased to have Mr. Chunnet join our Advisory Board.
Due to scarcity of PGMs in the world, experienced PGM geologists are
also a rare commodity. Furthermore, he has been involved in the
discovery of millions of ounces of PGMs through his former capacity of
Head of Geology and Exploration with Anglo Platinum and most
importantly for our Company, Mr. Chunnett has been involved with our
River Valley PGM Project in Sudbury from its inception. We look forward
to working with Gordon and regard him as a vital addition to our
expanding technical team".
Mr. Chunnett will join a growing team of professionals with a wealth of
experience in all aspects of the mining industry including geologists,
engineers, and corporate finance advisors who have spent their careers
guiding mineral exploration companies from grass roots exploration
through to production with a specific emphasis on PGMs.
About Pacific North West Capital Corp
Pacific North West Capital Corp. (TSX: PFN; OTCQX: PAWEF; Frankfurt:
P7J.F) is a mineral exploration company whose corporate philosophy is
to be a project generator, explorer and project operator with the
objective of option / joint venturing its projects through to
production. The River Valley PGM Project is one of North America's
newest and largest primary platinum group metals (PGM) deposits. The
project located in the Sudbury region of Ontario.
On January 31, 2011, Pacific North West Capital successfully negotiated
the 100% acquisition of the River Valley PGM Project from Anglo
Platinum Limited, making Anglo Platinum the largest shareholder of PFN holding
approximately 12% of the Company (see news release dated January 31, 2011).
The Company is also advancing the Rock and Roll Polymetallic Project in
the Iskut River region of British Columbia (see press release dated
October 27, 2010). The project hosts precious metals rich, volcanogenic
massive sulphide mineralization in a volcano-sedimentary host rock
package. The mineralization shows similarities to the gold and silver
rich mineralization of Barrick Gold's past producing Eskay Creek mine.
PFN has contracted for a NI43-101 report to be completed on this
project and expects the report within the next 30 days. The Company
also has an expanding project portfolio in PGM, gold and base metal
projects in Québec, Ontario, Saskatchewan and Alaska. In addition, PFN
is a significant shareholder of Fire River Gold Corp (FAU:TSX.V) which company is developing the Nixon Fork Gold Mine in Alaska, which is slated for production in summer of 2011.
Pacific North West Capital Corp. is well funded with an experienced
management team and the ability to take advantage of its growing assets
based in Platinum Group Metals, gold and base metals. To that end, the
Company is in the process of adding key technical and financial people
to our management, advisory team and our board of directors. PFN has
approximately $6.6 million in working capital and securities.
Pacific North West Capital Corp. is a member of the International Metals
Group of Companies (www.internationalmetalsgroup.com).
On behalf of the Board of Directors
President and CEO
Disclaimer: This news release may contain certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, included herein are forward-looking
statements that involve various risks and uncertainties. There can be
no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations are
disclosed in the Company's documents filed from time to time with The
Toronto Stock Exchange, British Columbia
SOURCE Pacific North West Capital Corp.
For further information:
Tel: +1.604.685.1870 Fax: +1.604.685.8045
Email: firstname.lastname@example.org, or visit www.pfncapital.com
2303 West 41st Avenue, Vancouver, B.C., Canada, V6M 2A3