TSX: PFN OTCBB: PAWEF Frankfurt: P7J
VANCOUVER, July 3 /CNW/ - Pacific North West Capital Corp. ("PFN")
(TSX: PFN) and Benton Resources Corp. (TSX.V : BTC) ("Benton") are pleased to
announce that a helicopter-borne magnetic and electromagnetic (VTEM) survey
has been completed over the Tooms Twp claim block of the Swayze JV Project
located west of Timmins, Ontario.
See map attachment:
The Swayze JV was formed to explore for nickel-copper-platinum-palladium
deposits in the ultramafic rocks of the Swayze Greenstone Complex, centered
80 km southwest of Timmins. Land holdings include three claim blocks totaling
670 units located in Tooms, Heenan and Kenogaming Townships. The Tooms
property is host to several nickel showings with historic values including
drill core values of up to 0.83% Ni over 7.3 meters including 2.5% Ni over
1.6 meters (MNDM assessment files). On the Heenan Twp. Claim block, a 20 km
grid has been cut and ground magnetic and induced polarization surveys have
been completed over a new gold-bearing zone discovered by prospectors
John Hussey and Armand Aube of Timmins. Initial surface grab samples from the
zone have returned up to 4.3 gpt Au.
Mapping and prospecting crews are currently active on the Heenan and
Kenogaming claim blocks and will be dispatched to the Tooms property when
results from the airborne survey have been compiled.
Benton Resources Corp. and Pacific North West Capital are participating
in a 50% - 50% Joint Venture whereby both Companies agree to bear all
expenditures and participate in a single purpose unincorporated Joint Venture
for the purpose of carrying out all Mineral exploration. Benton is the
Operator for the project and will be responsible for carrying out all
About Benton Resources Corp:
Benton Resources Corp. is a mineral exploration company listed on the TSX
Venture Exchange under the symbol BTC. Benton's aggressive and experienced
management team is focused on base and precious group metal exploration. The
Company's diverse property portfolio includes Canadian projects which are
highly prospective for gold, uranium, platinum, palladium, nickel and copper.
The Company currently has approximately $20 million in working capital.
About Pacific North West Capital Corp:
Pacific North West Capital Corp. (TSX.PFN OTCBB.PAWEF Frankfurt.P7J) is a
mineral exploration company focused on Platinum Group Metals (PGMs) and Base
Metals. Management's corporate philosophy is to be a Project Generator,
Explorer and Project Operator with the objective of option/joint venturing
projects with major mining companies through to production. To that end,
Pacific North West Capital's current option/joint ventures agreements are with
Anglo Platinum, Stillwater Mining Company, Xstrata Nickel, Benton Resources,
First Nickel and SOQUEM.
Pacific North West Capital Corp. has approximately $9.5 million in
working capital and securities.
On behalf of the Board of Directors
President & CEO
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
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 Securities
Commission and the United States Securities & Exchange Commission.
For further information:
For further information: Tel: (604) 685-1870; Fax: (604) 685-8045;
Email: firstname.lastname@example.org, or visit www.pfncapital.com; 2303 West 41st
Avenue, Vancouver, B.C., Canada, V6M 2A3