Pacific North West Capital Corp. Acquires Option on Destiny Gold Project, Québec



    
    TSX: PFN OTCBB: PAWEF Frankfurt: P7J.F

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    -   Option to earn 60% interest in the Destiny Gold Project
    -   Property hosts high grade gold mineralization in quartz veins and
        alteration zones
    -   NI 43-101 compliant indicated resource of 166,863 tonnes grading
        6.88 grams per tonne (g/t) gold and an inferred resource of
        444,753 tonnes grading 4.46 g/t gold
    -   Open along strike and at depth
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    VANCOUVER, Sept. 1 /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 with Alto Ventures Ltd. (TSX.V: ATV) on the
Destiny Gold Project (formerly the Despinassy Project) located approximately
75 km north of Val d'Or in the Abitibi-Témiscamingue region of Québec. The
property is road accessible, and excellent mining infrastructure and support
facilities are available in nearby Val d'Or. The property consists of 175
mining claims totalling 7260 ha.
    The Destiny Gold property is underlain by Archean metavolcanic and
metasedimentary rocks of the Abitibi Greenstone Belt. A regional scale
structure, the Despinassy shear zone, transects the property. High grade gold
mineralization occurs in quartz veins and alteration zones associated with
this structure. Mineralization has been identified in several locations along
the Despinassy shear zone on the property over a strike distance of about 4
km.
    The main area of mineralization, the DAC zone, occurs over a strike
length of about 600 metres. In this area, four to five identifiable intervals
of quartz veining and shear-related alteration zones carry high grade gold
mineralization, with drill intersections ranging up to 178.5 g/t gold over a
drill width of 1.0 metres. The DAC zone hosts a NI 43-101 compliant indicated
resource of 166,863 tonnes grading 6.88 g/t gold (36,892 ounces) and an
inferred resource of 444,753 tonnes grading 4.46 g/t gold (63,839 ounces) as
calculated by W.A. Hubacheck Consultants Ltd. in 2007 (see "A Resource
Estimate of the DAC Gold Deposit, Despinassy Twp., Val d'Or, Quebec" dated
January 9, 2007). The DAC zone is open along strike and at depth. The
occurrence of high grade mineralization at the Darla and 20 and 21 zones to
the east clearly indicates that the mineralizing system occurs across a
significant portion of the property.

    Terms of Agreement

    Under the terms of the Option Agreement with Alto Ventures Ltd, PFN will
pay Alto $200,000, provide Alto with 250,000 common shares of PFN, and
complete a total of $3,500,000 in exploration expenditures over a four year
period to earn a 60% interest in the Destiny Gold property. Subsequent to
vesting of its interest, PFN will form a joint venture with ATV to further
develop the project. Certain claims comprising the property are subject to
underlying net smelter return royalties ranging from 1% to 3.5%, with varying
buy-back provisions.

    2009 Work Program

    PFN has allocated a $600,000 budget to the Destiny Gold Project for 2009.
The majority of the work to be completed will be infill and step-out drilling
to expand the known resources at the DAC zone. This will be followed by an
updated resource estimate to be completed in late 2009 or early 2010. The work
program will be managed by Alto Ventures Ltd.
    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 Alto Ventures Ltd:

    Alto Ventures Ltd. is a gold exploration and development company with a
portfolio of highly prospective properties in the Canadian Shield. Alto's
Management and Board of Directors have a long and successful track record of
creating shareholder value through systematic exploration, acquisitions and
discovery. The Company is currently active in Québec where it is focussed on
the Destiny Gold project in the Abitibi Greenstone Belt and in Ontario in the
Beardmore and Shebandowan gold districts.

    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

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