Pacific North West Capital and First Nickel Announce New PGM Zone on Raglan Hills Joint Venture Property



    TSX: PFN OTCBB: PAWEF Frankfurt: P7J.F

    VANCOUVER, Aug. 5 /CNW/ - Pacific North West Capital Corp. ("PFN") (TSX:
PFN; OTCBB: PAWEF; Frankfurt: P7J) and First Nickel Inc. ("First Nickel")
(TSX: FNI) are pleased to report the discovery of a new zone of Pt and Pd
mineralization and the confirmation of Ni and Cu mineralization on the Raglan
Hills property. The Raglan Hills project is a joint venture between First
Nickel and PFN, the details of which were announced in a press release dated
December 11, 2007.
    First Nickel has tested 7 airborne electromagnetic targets with 29 drill
holes (4,616 metres) between February and May, 2009. Targets were selected
based on the presence of coincident magnetic and electromagnetic anomalies and
known Ni-Cu sulphide mineralization. Assay results from 19 of the 29 diamond
drill holes completed on the Raglan Hills property have now been received.
    First Nickel has discovered a new zone of Pt and Pd mineralization hosted
in a previously unexplored mafic intrusive body within Raglan Township. The Pt
and Pd mineralization has been identified in two separate zones within the
mafic intrusion, close to the contacts with the host sediments. Drill hole
FNB009 intersected 5.05 metres grading 0.762 grams per tonne (gpt) Pt and
1.216 gpt Pd, and hole FNB010 intersected 2.7 metres grading 0.659 gpt Pt and
1.052 gpt Pd. A table of significant assay results from the zone is provided
below.

    
    -------------------------------------------------------------------------
                                    ML North Target
    -------------------------------------------------------------------------
    Hole ID          From       To       Width      Pt        Pd       Pt+Pd
                      (m)       (m)       (m)      (gpt)     (gpt)     (gpt)
    -------------------------------------------------------------------------
    FNB009            9.95     15.00      5.05     0.762     1.216     1.978
    -------------------------------------------------------------------------
    and              41.70     43.00     1.030     0.812     1.276     2.008
    -------------------------------------------------------------------------
    FNB010          137.90    140.60      2.70     0.659     1.052     1.711
    -------------------------------------------------------------------------
    and             144.60    150.60      6.00     0.508     0.829     1.337
    -------------------------------------------------------------------------
    FNB011          134.00    134.80      0.80     0.490     0.706     1.196
    -------------------------------------------------------------------------
    FNB012          128.00    129.40      1.40     0.420     0.675     1.095
    -------------------------------------------------------------------------
    All assay intervals reported are core length and do not represent true
    widths (defined as being measured at right angles to the direction of
    extension of the sulphide body). The true widths are undefined. All other
    assay samples are pending analysis.
    

    Paul Davis, Vice President of Exploration of First Nickel states "The
discovery of a new zone of Pt and Pd mineralization within the first phase of
our drill program demonstrates the great exploration potential of this area.
The presence of Pt and Pd mineralization indicates that the sulphide
mineralization has interacted with the mafic intrusive unit and may
potentially be a vector to more extensive Ni, Cu, Pt and Pd mineralization. We
have secured a large land package along this prospective trend and we are
confident in our continued success and further discoveries of additional Ni-Cu
and PGE mineralization in this under-explored part of Ontario."
    Drilling completed on the historic Raglan Nickel Showing, in Raglan
Township confirmed the presence of Ni and Cu sulphide mineralization below the
surface exposures. Drill hole FNB004 intersected 5.8 metres grading 0.47% Ni
and 0.64% Cu, and FNB005 intersected 1.0 metre grading 0.86% Ni and 2.50% Cu.
Sulphide mineralization is associated with a more mafic portion of the Raglan
metagabbro complex, and may be related to a feeder to the main intrusive body.

    

    -------------------------------------------------------------------------
                                 Raglan Nickel Showing
    -------------------------------------------------------------------------
    Hole ID    From     To     Width    Ni      Cu      Pt      Pd     Pt+Pd
                (m)     (m)     (m)     (%)     (%)    (gpt)   (gpt)   (gpt)
    -------------------------------------------------------------------------
    FNB004     24.00   29.80    5.80    0.47    0.64   0.037   0.168   0.205
    -------------------------------------------------------------------------
    FNB005     19.40   20.40    1.00    0.86    2.50   0.020   0.315   0.335
    -------------------------------------------------------------------------
    All assay intervals reported are core length and do not represent true
    widths (defined as being measured at right angles to the direction of
    extension of the sulphide body). All other assay samples are pending.
    

    Borehole UTEM geophysical surveys have been completed by Lamontagne
Geophysics Ltd on all of the holes drilled by the Joint Venture on the Raglan
Hills property. First Nickel has submitted the data to an independent
geophysical consultant for interpretation. A follow-up exploration program
will be designed after receipt of all assays and a review of the borehole
geophysical interpretation.
    The diamond drilling program was designed and carried out under the
supervision of First Nickel's Senior Geologist, Scot Halladay, P.Geo. a
"qualified person" as defined by National Instrument 43-101. The information
in this release was prepared under the direction of Paul Davis, P.Geo., Vice
President of Exploration for First Nickel Inc., a "qualified person" as
defined by National Instrument 43-101. First Nickel Inc. follows a rigorous
QA/QC protocol on all of its exploration projects. Drill core of interest (NQ
size) is sawn in half, with one half retained for future reference and one
half sent to a commercial laboratory, SGS Laboratories in Lakefield, Ontario.
A rigorous quality assurance/quality control program is employed which
includes the insertion of standards and blanks for each batch of samples.

    About First Nickel Inc:

    First Nickel is a Canadian mining and exploration Company. Its current
activities are primarily focused on the Sudbury Basin in northern Ontario, the
location of the company's redevelopment stage property (the Lockerby Mine) and
two of its exploration properties. First Nickel also has exploration
properties in the Timmins region of northern Ontario and the Belmont region of
Eastern Ontario. First Nickel's shares are traded on the TSX under the symbol
FNI.

    About Pacific North West Capital Corp:

    Pacific North West Capital Corp. (TSX: PFN; OTCBB: PAWEF; Frankfurt:
P7J.F) is a mineral exploration company focused on Platinum Group Metals
(PGM), precious 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 and junior mining companies through
to production. To that end, Pacific North West Capital's current option/joint
ventures agreements are with Anglo Platinum, First Nickel, Kinbauri Gold and
Fire River Gold. Pacific North West Capital Corp. is well funded with an
experienced management team and the ability to take advantage of the
tremendous opportunities that are available in the mining sector today. Our
focus will be to acquire advanced stage precious metals projects, continue to
expand our PGM and base metals division and to look for special situations and
under-funded projects in the resource sector.
    Pacific North West Capital Corp. has approximately $4.8 million in
working capital and securities.

    
    On behalf of the Board of Directors

    (signed)

    Harry Barr

    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: info@pfncapital.com, or visit www.pfncapital.com, 2303 West 41st
Avenue, Vancouver, B.C., Canada, V6M 2A3

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