|
Vancouver, Canada -- December 11, 2007: Pacific North West
Capital Corp. ("PFN") (TSX: PFN)
and First
Nickel Inc. (TSX : FNI) ("First Nickel") are pleased to
report that they have entered into a Joint Venture agreement
to undertake exploration on the Raglan Hills Project. The
Raglan Hills Project is situated northeast of Bancroft in
the Province of Ontario and comprises 21 claim blocks
totalling 2,752 hectares.
The Raglan
Hills Project is located over the northeastern portion of
the Raglan Hills Intrusive Complex. The Complex is a
differentiated mafic intrusive composed primarily of meta-gabbro
with lesser proportions of meta-pyroxenite. The more mafic,
pyroxenitic units host historical, nickel and copper
sulphide showings and may represent the feeder system to the
Intrusive Complex. Minimal exploration has occurred since
the late 1980's and the property has potential to host
economic nickel-copper sulphide zones within this feeder
system. The exploration program will be designed to
identify and test priority areas within the property
boundaries.
Pacific
North West Capital and First Nickel have entered into a 50%
- 50% Joint Venture Agreement whereby both Companies agree
to bear all expenditures and participate in a single purpose
unincorporated Joint Venture for the purpose of carrying out
all Mineral exploration
First Nickel
will act as Operator for the project and will be responsible
for carrying out all exploration activities.
About
First Nickel:
First Nickel is a Canadian mining and
exploration company. Its current activities are primarily
focused on the Sudbury Basin in northern Ontario, the
location of the company's producing property (the Lockerby
Mine) and four of its exploration properties. First Nickel
also has two exploration properties in the Timmins region of
northern Ontario. First Nickel's shares are traded on the
TSX under the symbol FNI.
About
Pacific North West Capital Corp:
Pacific
North West Capital Corp. (TSX.PFN OTCBB.PAWEF Frankfurt.P7J)
is a mineral exploration company focused on Platinum Group
Metals (PGMs) and Base Metals. Management's corporate
philosophy is to be 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,
Stillwater Mining Company, Xstrata Nickel and SOQUEM. The
company has $8 Million in working capital and securities
with no debt.
|
