| | | Pacific North West Capital Corp. Commences Trading on the U.S. OTCQX Market Tier | | |
PFN NEWS - OCt 26 2010
October 26, 2010, Vancouver, Canada
-- Pacific North West Capital Corp. ("PFN" or the
"Company") (PFN:TSX, OTCQX:PAWEF, FSE:P7J) is pleased to
announce that its common shares have commenced trading on the
Pink OTC Market's prestigious OTCQX market tier under the symbol
"PAWEF", effective at the market open on Tuesday, October
26, 2010. PFN's
common shares will continue to trade on the Toronto Stock
Exchange (TSX) under the symbol "PFN". Listing on OTCQX will
provide Pacific North West Capital with greater access to the
U.S. capital markets, increased U.S. investor visibility and an
opportunity to diversify its shareholder base.
The New York based law firm, Berns & Berns will serve as the
Pacific North West Capital's Principal American Liaison ("PAL")
on OTCQX regulatory matters and Moody Capital LLC will serve as
the Company's exclusive OTCQX financial consultant/advisor for
marketing the Company to U.S. investors and monitoring trading
activity.
"We are pleased to be able to better serve the growing number
of U.S. investors following Pacific North West Capital with the
enhanced U.S.-based trading platform offered by OTCQX and the
advisory services offered by Moody Capital LLC," said PFN's
President and CEO, Harry Barr. "The OTCQX has earned a strong
reputation for providing U.S. investors with improved liquidity,
transparency, superior information, and easy access through
their U.S. regulated broker-dealers. We believe that listing on
the OTCQX is in the best interest of the shareholders and will
better enable the Company to raise additional capital to further
develop its projects and provide additional market liquidity."
About OTCQX
The OTCQX marketplace is the premier tier of the U.S.
Over-the-Counter market. Investor-focused companies use the
quality controlled OTCQX listing platform to offer investors
transparent trading, superior information, and easy access
through their regulated U.S. broker-dealers. The innovative
OTCQX platform offers companies and their shareholders a level
of marketplace services formerly available only on a U.S.
exchange. For more about OTCQX, visit
www.otcqx.com.
OTCQX provides a gateway to U.S. securities markets for
international companies that are listed on a qualified non-U.S.
exchange. More importantly, OTCQX distinguishes reputable
international issuers from the other 9,000 over-the-counter
(OTC) securities traded in the U.S. Only leading companies that
have substantial operating businesses and provide ongoing,
credible disclosure to the public are eligible for inclusion on
the premium-tier OTCQX, which commenced trading on March 5,
2007. For more about OTCQX, visit
www.otcqx.com.
About Pacific North West Capital Corp:
Pacific North West Capital Corp. 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, Alto Ventures
and is a major shareholder of Fire River Gold Corp. (www.firerivergold.com)
About the River Valley PGM Project
The River Valley project is a 50/50 joint venture between PFN
and the world's largest PGM producer, Anglo Platinum Limited.
Anglo Platinum can increase its ownership interest to 60% by
completing a positive feasibility study, and to 65% by advancing
the project through to production. To date, Anglo Platinum has
expended approximately $22.5 million on the project. A
43-101-compliant resource estimate by Geosim Services Inc. (see
PFN press release dated March 27 2006) outlined measured and
indicated resources of 30.5 million tonnes grading 0.06 grams
per tonne (g/t) gold, 0.34 g/t platinum and 0.97 g/t palladium,
and inferred resources of 2.39 million tonnes grading 0.05 g/t
gold 0.31 g/t platinum and 0.87 g/t palladium. The resource
estimates used a cut-off grade of 0.7 g/t (platinum+palladium).
The other four PGM (osmium, iridium, ruthenium and rhodium) were
not included in any of the resource calculations due to
insufficient assay data.
About the Destiny Gold Project
The Destiny Project is under option from Alto Ventures Ltd.
Under the terms of the option agreement, PFN can earn a 60%
interest in the property over a four year period by completing
$3.5 million in exploration expenditures, paying $200,000 and
providing a total of 250,000 PFN shares to Alto. The property is
located approximately 100 km by road north of the city of
Val-d'Or. Drilling conducted by the Companies in 2009-2010
revealed a massive sulphide mineralized zone adjacent to the
gold mineralization (see news releases dated
February 18 and
April 12, 2010). Drill hole DES10-137 returned 0.73 Cu, 6.4%
Zn, 0.3 g/t Au and 18 g/t Ag over a one metre interval. Previous
hole DES06-94 returned 5.79% Cu, 3.42% Zn, 1.21 g/t Au and 118.0
g/t Ag over a 0.7 m interval. A $350,000 2010 exploration
program is currently underway and will focus primarily on high
resolution airborne magnetic surveys, borehole electromagnetic
surveying and drilling.
About the Rock and Roll Polymetallic 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). A $150,000, 2010 exploration program is currently underway
and is focusing primarily on re-sampling previous drill core,
and geological mapping / prospecting that will investigate
airborne geophysical survey conductors, and geological and
geochemical targets.
Ongoing Aggressive Acquisition Program
The Company is well funded and is currently looking to acquire
advanced stage, Platinum Group Metals, Gold and base metal
projects on an international scale.
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On behalf of the Board of Directors
"Harry Barr"
Harry Barr, President & CEO
For further information, please contact our Investor Relations
Department at Toll Free 1-800-667-1870
The Toronto Stock Exchange have not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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. Not to be construed as an offer to buy or sell
securities of this company.
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| | You can view the Next News Releases item: Thu Dec 16, 2010, Pacific North West Capital Commences Drill Program on Destiny Gold Project, Québec
You can view the Previous News Releases item: Thu Oct 14, 2010, Pacific North West Capital Commences Exploration Program on the Destiny Gold Project, Québec Drill Program Slated for November 2010
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