TSX: PFN OTCQX: PAWEF Frankfurt: P7J
VANCOUVER, June 27, 2012 /CNW/ - Pacific North West Capital Corp. (TSX: "PFN" OTCQX: PAWEF; Frankfurt:
P7J has elected to terminate its option Agreements with Alto Ventures Ltd.
("Alto") (TSX.V:ATV) and Equity Exploration Consultants Ltd, First
Fiscal Enterprises Ltd. and Pamicon Developments Ltd. (collectively the
"Vendors") on the Destiny Gold Project in Val d'Or, Quebec and Rock &
Roll Polymetallic Project, British Columbia, respectively.
Pacific North West Capital Corp. decided it would be in the best
interest of the company to not pursue additional exploration on these
properties and to concentrate efforts on advancing its 100% owned River
Valley PGM project, near Sudbury, Ontario. The River Valley Project is
one of North America's most advanced primary PGM deposits with
excellent infrastructure support and is located only 100 km from the
city of Sudbury, Ontario, Canada's largest nickel‐copper‐PGM mining and
metal recovery centre. River Valley is one of the largest undeveloped
primary PGM Projects in North America
On behalf of the Management of Pacific North West Capital Corp., I would
like to thank Alto Ventures Ltd. ("Alto") (TSX.V:ATV), Next Gen Metals
Inc. ("Next Gen"), Equity Exploration Consultants Ltd. along with the
other Vendors and underlying lease owners for their time and efforts
during the term of the option agreements.
Qualified Person Statement
This news release has been reviewed and approved for technical content
by Ali Hassanalizadeh M.Sc. P.Geo, Vice President, Exploration for PFN,
a Qualified Person under the provisions of National Instrument 43-101.
About Pacific North West Capital Corp.
PFN is a mineral exploration company whose philosophy is to be a project
generator, explorer and project operator in order to option/joint
venture its projects through to production. PFN is focused on the
discovery, exploration and development of PGM and nickel‐copper
sulphide deposits in geologically prospective regions in North America,
particularly Canada. The Company's key asset is its 100% owned River
Valley PGM Project in the Sudbury region of northern Ontario. PFN also
has PGM and nickel‐copper projects and properties in northwest Ontario,
Saskatchewan, and Alaska. The Company continues to evaluate PGM and
nickel‐copper properties and projects in North America for potential
On behalf of the Board of Directors
Chairman and CEO
Disclaimer: Neither the TSX nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release.
Forward Looking Statements: Certain information presented, including discussions of future plans and
operations, contains forward-looking statements involving substantial
known and unknown risks and uncertainties. These forward-looking
statements are subject to risk and uncertainty, many of which are
beyond control of company management. These may include, but are not
limited to the influence of general economic conditions, industry
conditions, fluctuations of commodity prices and foreign exchange rate
conditions, prices, rates, environmental risk, industry competition,
availability of qualified staff and management, stock market
volatility, timely and cost effective access to sufficient working
capital or financing from internal and external sources. Actual
results, performance, or achievements may differ materially from those
expressed or implied by these forward looking statements.
SOURCE Pacific North West Capital Corp.
For further information:
Please send requests for further information to:
Chairman & CEO
Pacific North West Capital corp.
President & COO
Pacific North West Capital corp.
Tel: 416-368-5268 E