Pacific North West Capital Corp. acquires option 100% of Rock & Roll Property, British Columbia



    
    TSX: PFN OTCBB: PAWEF Frankfurt: P7J.F

    -------------------------------------------------------------------------
    -   Option to acquire 100% of advanced stage polymetallic project
    -   Historical resource of 580,544 tonnes at 2.4 g/t gold,
        335.9 g/t silver, 0.64% copper, 0.79% lead, and 3.1% zinc
    -   Historic drilling to depths of only 160 meters
    -   Drilling slated fall 2009
    -------------------------------------------------------------------------
    

    VANCOUVER, Aug. 19 /CNW/ - Pacific North West Capital Corp. (PFN) (TSX:
PFN; OTCBB: PAWEF; Frankfurt: P7J.F) is pleased to announce that it has
entered into an option agreement (the Agreement") with Misty Creek Ventures
Ltd, First Fiscal Enterprises Ltd. and Pamicon Developments Ltd. (collectively
the "Vendors") on the Rock & Roll property (the "Property"), located in the
Liard Mining District approximately 9 km west of the Bronson airstrip and
exploration camp in northern British Columbia. To view a map of the Property
please visit: http://www.pfncapital.com/i/maps/map_attachment_Aug192009.jpg

    About the Rock and Roll Project

    The Rock & Roll Property hosts precious metals rich, volcanogenic massive
sulphide (VMS) mineralization in a volcano-sedimentary host rock package of
Triassic age. As such, the mineralization shows similarities to the gold and
silver rich mineralization of Barrick Gold's past producing Eskay Creek mine
(reserves at Eskay Creek as of January 1, 1999 were estimated at 1,355,965
tonnes grading 57.7 grams per tonne (g/t) gold and 2492.57 g/t silver;
Government of BC, MINFILE No 104B 008).
    Known mineralization on the Rock and Roll Property occurs in multiple
stacked sulphide lenses in two zones, the Black Dog and SRV zones, over a
strike length of approximately 950 m. A total of approximately 14,000 m of
core drilling in 110 drill holes was completed on the property from 1991 to
1997. Only six drill holes tested the host stratigraphy outside of the known
mineralization, but at least 5 km of strike length of the prospective
lithologies is present on the Property. Historic drilling has tested the known
mineralization down to depths of only about 160 m. Thus there is the potential
for additional mineralization along strike and at depth.
    The Black Dog zone hosts an historic, non-NI 43-101 compliant, indicated
resource of 580,544 tonnes grading 2.4 g/t gold, 335.9 g/t silver, 0.64%
copper, 0.79% lead, and 3.1% zinc (Government of BC, MINFILE No 104B 377).
This resource is historic in nature, has not been verified by the Company, and
should not be relied upon.
    Selected historic drill results that were included in this historic
resource estimate are tabulated below. These results have not been verified by
the Company and are included only to illustrate the nature of mineralization
on the Property.

    
    -------------------------------------------------------------------------
    Hole      Drill Width       Au (g/t)    Ag(g/t)    Cu%     Pb(%)     Zn%
    -------------------------------------------------------------------------
    RR90-001        9.7 m          2.74      881.0    0.50     2.07     5.30
    -------------------------------------------------------------------------
    RR90-015        2.3 m          2.09      521.4    1.10     0.88     4.60
    -------------------------------------------------------------------------
    RR91-022        1.1.m          2.30     1333.5    0.31     0.68     1.59
    -------------------------------------------------------------------------
    RR91-036        6.0 m          2.74      687.3    1.08     2.16     6.41
    -------------------------------------------------------------------------
    RR91-065       10.0 m          3.19      396.3    1.09     1.09     5.07
    -------------------------------------------------------------------------
    RR91-065        4.5 m          2.98      425.8    0.53     0.95     3.28
    -------------------------------------------------------------------------
    RR91-064        6.5 m          3.57      521.7    0.50     0.86     2.73
    -------------------------------------------------------------------------
    True widths are unknown, and the drill widths reported above are
    therefore apparent widths. g/t = grams per tonne.
    

    Harry Barr, President and CEO of Pacific North West Capital Corp. stated:
"We are very pleased to have the opportunity to acquire an option on this
significant advanced stage project. The similarity of the Black Dog and SRV
mineralization to that of the Eskay Creek deposit, one of the world's most
precious metal-rich VMS deposits, is an exciting aspect of this project. With
the Rock & Roll Property, PFN has added another advanced stage precious metals
project to its expanding portfolio of high value assets."

    Terms of Agreement

    Under the terms of the Agreement, PFN can earn a 100% interest in the
Property over a four year period by completing $2,000,000 in exploration
expenditures, paying the Vendors $130,000 and providing the Vendors with a
total of 600,000 PFN shares. The Vendors will retain a 2% NSR, of which 1% can
be purchased for $3,000,000. The Property is also subject to an underlying NSR
of 2%, and an underlying NPI of 15%, both of which are payable to Prime
Equities International Corporation, and both of which are purchasable in their
entirety for $1,500,000 each. The Agreement is subject to regulatory approval.

    2009 Work Program

    PFN has embarked on an ambitious 2009 work program on the Rock & Roll
Property. A 350 line kilometre AeroTem3 helicopter-borne
magnetic/electromagnetic survey covering the property was completed in early
August by Aeroquest Limited. Following interpretation of the airborne survey,
a crew will be mobilized to ground truth anomalies. The crew will also
complete re-sampling and partial re-logging of the existing core to evaluate
historic results and interpretations. The core is stored at the Bronson
airstrip, 9 km from the Property. Upon receipt of permits, a drill will be
mobilized to the Property to complete infill drilling on the known areas of
mineralization and to test anomalies identified by the airborne survey.
Drilling is expected to commence in mid-September. The work will be managed by
Equity Exploration Consultants Ltd., a highly respected consulting company
with extensive exploration experience in this part of British Columbia.
    Jon Findlay, Ph.D, P.Geo, PFN's Vice President of Exploration, is the
Qualified Person as defined under NI-43-101 for this press release.

    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 $4.6 million in
working capital and securities.

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

Organization Profile

Pacific North West Capital Corp.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890