Pacific North West Capital Corp. - Phase I Nickel Acquisition Completed Saskatchewan - PFN Acquires Nickel Plats Project



    
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    -  Acquisition of historical Nickel deposit

    -  PFN expanding Nickel & PGM Divisions

    -  3,000 meter drill program in progress adjacent to Xstrata Nickel's
       Montcalm mine Timmins, ON

    -  Management currently finalizing Nickel Acquisition in Labrador

    -  2007 Exploration Program underway on 5 Platinum Group Metal projects

    -  $5 million 2007/2008 Exploration Budget
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    TSX: PFN  OTCBB: PAWEF  Frankfurt: P7J
    

    VANCOUVER, June 14 /CNW/ - Pacific North West Capital Corp. (TSX: PFN
OTCBB: PAWEF Frankfurt: P7J) has completed its first phase of property
acquisitions and has optioned the Nickel Plats Property, approximately 50 km
north of LaRonge Saskatchewan. The property covers a nickel-copper occurrence
within a sulphide rich (pyrrhotite, chalcopyrite and pyrite) gabbro intrusive
plug. Exploration work in the mid sixties (23 drill holes 15 inclined, 8
vertical) proved an open pit resource of 4.2 million tons grading 0.30% Ni and
0.08% Cu. In the late 1980s, additional definition drilling (6 inclined holes)
indicated an underground resource of 1.7 million tons grading 0.74% combined
nickel-Copper (Non-43-101 compliant). Pacific North West Capital's objective
is to update the geological model, bring the initial resource to a 43-101
compliant status and expand it by step-out drilling. A geological program is
planned to be followed up by a fall 2007 drill program. Furthermore, the
region is also being evaluated for other intrusive targets, through
compilation of government data bases. PFN's management plans to acquire
several Nickel/Base Metals and PGM projects.
    PFN's aggressive acquisition program will continue through 2007 in order
to position the Company and its shareholders for what it believes will be the
largest expansion in Nickel and PGM exploration since the 1990s. Harry Barr,
President & CEO of Pacific North West Capital stated, "Our objective is to
significantly expand our Nickel/Base Metals & PGM portfolios in North
America." PFN's Vancouver and Ontario based technical teams is currently
guiding the acquisition process and preparing for summer and fall exploration
programs.

    Terms of Agreement
    ------------------

    Under the terms of agreement, Pacific North West Capital may acquire a
100% interest in the Property, by committing up to $750,000 of exploration
expenditures in three instalments over a three year period; make a total cash
payment of up to $90,000 in four instalments in a two year period, and issue a
total of up to 300,000 common shares over a three year period. Upon the
Optionee vesting with 100% interest in the Property, the Optionor shall retain
2% NSR on all future mineral production from the Property. The Optionee shall
have the right to purchase a 1% NSR from the Optionor for $750,000. Advanced
Royalty payments to the Optionor of $40,000 may be paid in a year for 3 years
for a total of up to $120,000. This acquisition is subject to regulatory
approval.

    About Pacific North West Capital Corp.
    --------------------------------------

    Pacific North West Capital Corp. is a North American industry leader in
the search for Platinum Group Metals (PGMs) and Nickel.
    PFN is currently in the most aggressive acquisition phase of the
company's history and is committed to advancing its existing projects and
acquiring new projects via self-funding or option/joint venture agreements
with major mining companies. The company has over $8 million in working
capital and securities.
    In late 2004 PFN established a Nickel Division that is rapidly growing
and today has an Option/Joint Venture in the Timmins Mining District with
Xstrata Nickel with further announcements pending on other projects. An
extensive geophysical and ground proofing exploration program has been
completed. PFN has expended approximately $1.4 million on the project to date.
In May, a diamond drill program commenced to evaluate EM conductors to depths
of 200 meters south of the Montcalm Mine claims, Timmins, Ontario. The targets
are within the strike extension of the interpreted mine stratigraphy of the
Montcalm Intrusive Complex (MIC). The program was expanded to 3000 meters in
June 2007.
    Stillwater Mining Company (NYSE:   SWC), the largest producer of palladium
and platinum in the Western hemisphere, recently purchased 11% of PFN and is a
strategic partner in the search for new platinum group metal discoveries in
North America. PFN and Stillwater have entered into a non-binding Letter
Agreement pertaining to ongoing exploration of the Goodnews Bay Platinum
Project. The Letter Agreement also provides for Stillwater to fund
reconnaissance on other Alaskan PFN exploration projects with the provision
for Stillwater to enter into option/joint venture agreements on the Goodnews
Bay Project and 1 or more of the reconnaissance projects.
    Under the terms of the Letter Agreement, Stillwater will spend $4 million
to earn 50% of GBPP by December 31, 2010. Stillwater may elect to increase its
interest to 60% by incurring an additional $8 million in exploration
expenditures within an additional two year period or upon completion of a
Feasibility Study, whichever occurs first. Stillwater may increase its
interest to 65% by arranging for 100% of the project financing required to
place the Property into Commercial Production within an additional three
years.
    Under the Reconnaissance portion of the Letter Agreement, Stillwater will
expend $500,000 in 2007 which will allow it to inspect several of PFN's
proposed projects. In event Stillwater elects to continue participating in one
or more projects, they will automatically be able to enter into one or more
agreements identical to the Goodnews Bay. Pacific North West Capital is the
project operator.
    In addition, PFN is exploring the River Valley Project, located near
Sudbury, Ontario, joint ventured 50/50 with Anglo Platinum Limited ("Anglo
Platinum"), the world's largest primary producer of platinum. Anglo Platinum
has committed over $19 million to the River Valley Project to date and may
earn a 60% interest in the project by completing a feasibility study and a 65%
interest by funding it through to production.
    Current measured and indicated resources: 30.5 million tonnes containing
953,900 ounces of palladium (0.97 g/t), 329,500 ounces of platinum (0.34 g/t)
and 59,500 ounces of gold (0.061 g/t) with an additional 2.3 million tonnes
containing 67,000 ounces of palladium (0.87 g/t), 23,800 ounces of platinum
(0.31 g/t) and 4,000 ounces of gold (0.05 g/t) of Inferred Resources using a
0.7 g/t cut off (pt/pd). The objective of the 2006 $1.1 million Phase 9A
budget was to extend the new Platinum Group Metal mineralized horizons
discovered during the 2005 fieldwork and to better understand the structural
controls on the mineralization. Management recently presented Anglo Platinum
with the 2007 work program and budget.
    In 2006, PFN signed a Cooperation Agreement with SOQUEM Inc., a wholly
owned subsidiary of the Société Générale de Financement du Québec ("SGF"),
mandated to put new mines into production. Under the terms of the Agreement,
PFN and SOQUEM are participating in a 50/50 joint venture with the objective
of identifying viable PGM and base metal properties for further exploration.
PFN and SOQUEM recently announced a Phase Two 2007 budget of $460,000 to
advance work on reconnaissance properties in Quebec. The summer exploration
program has begun on this project.
    PFN management is currently negotiating and acquiring several new PGM and
Nickel/Base Metals projects throughout North America more specifically in
Labrador, Quebec, Ontario, Manitoba, Saskatchewan, British Columbia, North
West Territories and Alaska.

    The company has over $8 million in working capital and securities.

    The Qualified Person for this release is John W. Londry, M.Sc, P. Geo, VP
Exploration, Pacific North West Capital.

    To view map attachment please visit www.pfncapital.com
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    On behalf of the Board of Directors

    (signed)
    Harry Barr
    President and 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: ir@pfncapital.com, or visit www.pfncapital.com; 2303 West 41st Avenue,
Vancouver, B.C., Canada, V6M 2A3

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