Pacific North West Capital Terminates Destiny Gold and Rock and Roll Polymetallic Projects Option Agreements
PFN Jun3 27 2012
June 27, 2012,
Vancouver, Canada; 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 acquisition opportunities.
Please send requests
for further information to:
Chairman & CEO
Pacific North West Capital corp.
President & COO
Pacific North West Capital corp.
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.
You can view the Next News Releases item: Tue Jul 24, 2012, Pacific North West Capital Commences Metallurgical Studies of its River Valley PGM Deposit with SGS Canada Inc.
You can view the Previous News Releases item: Tue Jun 19, 2012, Pacific North West Capital Announces a New Platinum Group Metal Zone on its River Valley Project, Sudbury, Ontario
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