Pacific North West Capital Corp. announces acquisition of the Nixon Fork gold mine in central Alaska



    TSX: PFN  OTCBB: PAWEF  Frankfurt: P7J.F

    VANCOUVER, Feb. 17 /CNW/ - Pacific North West Capital Corp. (PFN) (TSX:
PFN; OTCBB: PAWEF; Frankfurt: P7J.F) is pleased to announce it has exercised
the option to acquire from St. Andrew Goldfields Ltd. (TSX: SAS) all of the
outstanding shares of Mystery Creek Resources, Inc. (MCR), a wholly owned
Alaskan subsidiary of St Andrew Goldfields Ltd. MCR's assets include the Nixon
Fork gold mine, located 56 kilometres northeast of McGrath, Alaska. The sale
of the MCR shares to PFN was completed on February 12, 2009, under the terms
indicated in the Company's press release of December 18, 2008.
    PFN is in the process of conducting a comprehensive re-evaluation of mine
reserves/resources, metallurgy, exploration targets, and mining scenarios. The
Project is fully permitted and bonded to re-initiate operations. Furthermore,
an updated financial analysis of the mine is underway. The conclusion of these
studies will form the basis for a re-start of mining operations. PFN believes
the current resource is not fully explored and is reviewing the project data
with the objective of outlining an exploration program to further define any
additional resources. Management is currently determining the appropriate
strategy to continue the development of the project.
    Dr. Greg Myers P.Geo., Vice President of Business Development for PFN, is
the qualified person responsible for this press release. Dr. Myers is a
specialist in skarn deposits, such as the Nixon Fork Deposit, and was part of
the Nixon Fork discovery team in 1984-85 while employed by Battle Mountain
Gold.

    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 mining companies through to
production. To that end, Pacific North West Capital's current option/joint
ventures agreements are with Anglo Platinum, Xstrata Nickel, Benton Resources,
First Nickel and SOQUEM. 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 today. Our focus will be to
acquire advanced stage precious metals projects, continue to expand our
Platinum Group Metals and base metals division.
    Pacific North West Capital Corp. has approximately $6.9 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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Pacific North West Capital Corp.

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