Pacific North West Announces $3,000,000 Private Placement To Fund Projects

Toronto Stock Exchange listed Pacific North West Capital Corp.on Tuesdayannounced a non-price for gypsum production line machinerybrokered private placement of up to 10,000,000 units at a purchase price of $0.30 per unit for gross proceeds of up to $3,000,000. Each unit will consist of one common share in the company's capital and one-half of one share purchase warrant, each whole Warrant entitling the holder thereof to purchase one additional common share of the company for one year at a price of $0.35.

A portion of all the units may be flow-through units and will be priced a $0.35 cents per unit. Each unit will consist of one common share in the capital of the company and one-half of one share purchase warrant, each whole Warrant entitling the holder thereof to purchase one additional non flow-through common share of the Company at $0.45 for a period of one year.

The proceeds from the private placement received from the sale of the units will be used for the further development of the River Valley PGM Project located in the Sudbury region of Ontario; the Destiny Gold Project, located approximately 75 km north of Val d'Or in the Abitibi-Témiscamingue region, Québec; and the Rock and Roll project located in the Liard Mining District approximately 9 km west of the Bronson airstrip and exploration camp in northern British Columbia. The project hosts precious metals rich, volcanogenic massive sulphide mineralization in a volcano-sedimentary host rock package.

The mineralization shows similarities to the gold and silver rich mineralization of Barrick Gold's past producing Eskay Creek mine; Part of the proceeds from the financing will also be used for the advancement of the additional projects that the Company currently holds in its portfolio situated in Québec, Ontario, Saskatchewan and Alaska, and for the acquisition of additional platinum group metals, precious metals and base metals projects in Canada, the United States and Africa.