New Age Metals Inc (NMTLF)

[Major_Bankz]

Pacific North West Capital Announces 2.5 million ounces PGM+Gold Measured and Indicated Resources for its 100% Owned River Valley Project, Sudbury, Ontario
Pacific Northwest Capital Corp.
PAWEF | 5/1/2012 9:24:00 AM
Pacific North West Capital Announces 2.5 million ounces PGM+Gold Measured and Indicated Resources for its 100% Owned River Valley Project, Sudbury, Ontario
TSX: PFN OTCQX: PAWEF Frankfurt: P7J
www.pfncapital.com

River Valley Measured + Indicated resources: 91 million tonnes @ 0.58 g/t* palladium, 0.22 g/t platinum, 0.04 g/t gold at a cut-off grade of 0.8 g/t PdEq** for 2,463,000 ounces PGM*** plus gold
River Valley Inferred resources: 36 million tonnes @ 0.36 g/t palladium, 0.14 g/t platinum, 0.03 g/t gold at a cut-off grade of 0.8 g/t PdEq for 614,000 ounces PGM plus gold
On a PdEq basis, the Measured + Indicated resources contain 3,944,000 ounces PdEq and the Inferred resources contain 1,201,000 ounces PdEq
River Valley PGM-copper-nickel sulphide mineralized zones remain open to expansion with continued exploration
* g/t= grams per tonne, **PdEq = palladium equivalent, *** PGM=Platinum Group Metals

VANCOUVER, May 1, 2012 /CNW/ - Pacific North West Capital Corp. (TSX: PFN; OTCQX: PAWEF; Frankfurt: P7J) is very pleased to announce that the estimated NI43-101 compliant Measured and Indicated mineral resources at a cut-off grade of 0.80 g/t PdEq have increased by >400% from the previous NI43-101 compliant mineral resource estimate (May 2006) to 91,339,500 tonnes grading 0.84 g/t Pd+Pt+Au, 0.06% copper, and 0.02% nickel. The compliant Inferred mineral resources have increased by >1000% to 35,911,000 Mt grading 0.53 g/t Pd+Pt+Au, 0.06% copper, and 0.03% nickel. The River Valley PGM Project is located 100 km from the world-renown Sudbury Ni-Cu-PGM Mining Camp, has excellent infrastructure support, and is 100% owned by PFN.
Detailed Results
The detailed results of the new mineral resources estimate for the River Valley PGM Project are presented in Table 1. This NI43-101 compliant mineral resource estimate was completed by Tetra Tech, Sudbury. The new estimate incorporates the 13,140 metres in 46 holes drilled in the Dana North and Dana South Zones since the May 2006 estimate. All 462 holes were drilled at a sectional spacing of 25 metres to 100 metres on the eight separate mineralized zones shown in Figure 1.
Dr. William Stone, President & COO, comments, "The large increase in the estimated mineral resources confirms that River Valley is one of the largest undeveloped primary PGM Projects in North America. The strategy of including all the mineralized zones and the full value of the metal suite in the mineral resource estimation produced a very positive result. It greatly increases PFN's confidence in River Valley as the project is advanced toward a Preliminary Economic Assessment Study. The Company plans to further expand the PGM resources and to discover new resources with more drilling at the River Valley Project and its adjacent properties."
The mineral resources were estimated using Datamine Studio3© software and are reported at a cut-off grade of 0.8 g/t PdEq (Table 1). The 0.8 g/t PdEq cut-off was used pending future assessment of the economics and development potential of River Valley as an open pit mining project. The Company considers the 0.8 g/t cut-off value to be appropriate because: 1) the PdEq grade is 1.38 g/t for Measured and Indicated and 1.07 g/t for Inferred resources; and 2) rhodium and silver are not included in the PdEq calculation. The mineral resources are listed at a range of PdEq cut-off values in Table 2.
Comparisons are made above to the previous NI43-101 compliant River Valley mineral resource estimate of May 2006 (Technical Report by GeoSIMS available on PFN's SEDAR profile at www.sedar.com and on the Company's website). The large increase in the mineral resources reported herein is explained by the combined effects of: 1) incorporation of the 2011 resource drilling results; 2) inclusion of three mineralized zones that were previously overlooked (Figure 1); 3) use of PdEq rather than Pd+Pt cut-off grades; and 4) use of a length-weighted average Specific Gravity value of 2.94 measured for River Valley rather than the previous value of 2.89.
Figure 1. Location of the eight mineralized zones in the Breccia Unit at the base of the River Valley Intrusion, Sudbury area, Ontario. The Banshee, Azen and Razor PGM-Cu-Ni mineralized zones were not included in the previous NI43-101 compliant mineral resource estimation (May 2006).
Harry Barr, Chairman & CEO, states, "In only one year since regaining 100% ownership of the River Valley PGM Project, I want to congratulate our team for completion of a major milestone by delivering a very positive resource statement. Our aggressive exploration and development strategy aims to unlock the true potential of River Valley. Going forward, our plans are to continue exploration to expand the resource, drill test new targets, and complete a preliminary economic assessment in the next 2 years."
Table 1. NI43-101 Compliant Mineral Resources for the River Valley PGM Project, Sudbury, Ontario

Measured Contained Metal
Zone PdEq Cut-off TONNES Pd Pt Rh Au Ag Cu Ni Co PdEq PGM+Au PdEq
(g/t) (g/t) (g/t) (g/t) (g/t) (g/t) (%) (%) (%) (g/t) (oz) (oz)
Azen 0.80 - - - - - - - - - - - -
Banshee 0.80 - - - - - - - - - - - -
Dana North 0.80 9,622,180 0.66 0.24 0.023 0.05 0.70 0.07 0.02 0.003 1.56 295,747 468,612
Dana South 0.80 5,980,550 0.79 0.26 0.027 0.05 0.56 0.06 0.01 0.003 1.68 210,735 313,237
Lismer 0.80 9,982,120 0.50 0.20 0.018 0.04 0.40 0.05 0.02 0.003 1.24 235,646 386,598
Lismer Extension 0.80 - - - - - - - - - - - -
Razor 0.80 - - - - - - - - - - - -
Varley 0.80 - - - - - - - - - - - -
Total Measured 25,584,850 0.63 0.23 0.022 0.04 0.55 0.06 0.02 0.003 1.46 742,127 1,168,447

Indicated Contained Metal
Zone PdEq Cut-off TONNES Pd Pt Rh Au Ag Cu Ni Co PdEq PGM+Au PdEq
(g/t) (g/t) (g/t) (g/t) (g/t) (g/t) (%) (%) (%) (g/t) (oz) (oz)
Azen 0.80 - - - - - - - - - - - -
Banshee 0.80 - - - - - - - - - - - -
Dana North 0.80 14,076,300 0.60 0.22 0.021 0.04 0.52 0.07 0.02 0.003 1.45 392,562 635,796
Dana South 0.80 8,040,000 0.70 0.24 0.024 0.04 0.59 0.05 0.01 0.003 1.49 252,029 373,248
Lismer 0.80 16,300,300 0.48 0.19 0.018 0.04 0.05 0.06 0.02 0.003 1.25 371,212 638,230
Lismer Extension 0.80 13,690,300 0.57 0.23 0.021 0.04 0.12 0.06 0.02 0.002 1.37 365,153 586,774
Razor 0.80 - - - - - - - - - - - -
Varley 0.80 13,647,800 0.53 0.21 0.019 0.03 0.17 0.05 0.01 0.002 1.27 339,978 540,424
Total Indicated 65,754,700 0.56 0.21 0.020 0.04 0.26 0.06 0.02 0.002 1.35 1,720,935 2,774,470

Measured+Indicated Contained Metal
Zone PdEq Cut-off TONNES Pd Pt Rh Au Ag Cu Ni Co PdEq PGM+Au PdEq
(g/t) (g/t) (g/t) (g/t) (g/t) (g/t) (%) (%) (%) (g/t) (oz) (oz)
Azen 0.80 - - - - - - - - - - - -
Banshee 0.80 - - - - - - - - - - - -
Dana North 0.80 23,698,480 0.63 0.23 0.022 0.04 0.59 0.07 0.02 0.003 1.49 688,309 1,104,408
Dana South 0.80 14,020,550 0.74 0.25 0.025 0.04 0.58 0.05 0.01 0.003 1.57 462,764 686,484
Lismer 0.80 26,282,420 0.49 0.19 0.018 0.04 0.18 0.06 0.02 0.003 1.25 606,858 1,024,827
Lismer Extension 0.80 13,690,300 0.57 0.23 0.021 0.04 0.12 0.06 0.02 0.002 1.37 365,153 586,774
Razor 0.80 - 0.00 0.00 - 0.00 0.00 0.00 0.00 - 0.00 - -
Varley 0.80 13,647,800 0.53 0.21 0.019 0.03 0.17 0.05 0.01 0.002 1.27 339,978 540,424
Total Measured+Indicated 91,339,550 0.58 0.22 0.021 0.04 0.34 0.06 0.02 0.002 1.38 2,463,062 3,942,917

Inferred Contained Metal
Zone PdEq Cut-off TONNES Pd Pt Rh Au Ag Cu Ni Co PdEq PGM+Au PdEq
(g/t) (g/t) (g/t) (g/t) (g/t) (g/t) (%) (%) (%) (g/t) (oz) (oz)
Azen 0.80 16,095,000 0.37 0.15 0.014 0.03 0.08 0.05 0.03 0.001 1.11 285,081 559,956
Banshee 0.80 3,320,000 0.35 0.19 0.015 0.03 - 0.05 0.01 - 1.00 61,659 103,387
Dana North 0.80 - - - - - - - - - - - -
Dana South 0.80 - - - - - - - - - - - -
Lismer 0.80 303,000 0.31 0.13 0.012 0.03 - 0.06 0.02 0.002 0.92 4,584 8,747
Lismer Extension 0.80 - - - - - - - - - - - -
Razor 0.80 16,163,000 0.36 0.12 0.013 0.02 0.16 0.06 0.03 0.003 1.05 262,468 528,164
Varley 0.80 30,000 0.30 0.15 0.012 0.03 - 0.07 0.01 0.002 0.94 459 882
Total Inferred 35,911,000 0.36 0.14 0.014 0.03 0.11 0.06 0.03 0.002 1.07 614,252 1,201,137

Note: due to rounding, some totals may not appear to total properly
Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing, or other relevant issues.

Notes to Mineral Resources in Table 1
The mineral resource estimates in this press release use the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by CIM Standing Committee on Reserve Definitions and adopted by CIM Council on November 27, 2010. The mineral resource estimates provided in this report are classified as "measured", "indicated", or "inferred" as defined by CIM. According to the CIM definitions, a Mineral Resource must be potentially economic in that it must be "in such form and quantity and of such grade or quality that it has reasonable prospects for economic extraction".
For the River Valley project, a palladium equivalent (PdEq) cut-off grade was assigned based on economic assumptions from comparisons to other projects, and was used in the resource estimations. Resources reported in this press release use a cut-off of 0.80 g/t PdEq. Grades have assumed 100% recoveries. The parameters used to generate the PdEq value are provided below:

PdEq=( (Au grade*$Au*Factor1)+(Pt grade*$Pt*Factor1)+(Pd grade*$Pd*Factor1)+(Ni grade*$Ni*Factor2)+(Cu grade*$Cu*Factor2)
+(Co grade*$Co*Factor3))/($Pd*Factor1)

$Au = US$1271 per oz.
$Pt = US$1885 per oz.
$Pd = US$896 per oz.
$Ni = US$ 9.74 per lb.
$Cu = US$3.00 per lb.
$Co = US$15.90 per lb.
Factor1 = 0.0321508 (converts ounce per tonne to grams per tonne)
Factor2 = 22.04622 (converts pounds to grade percent)
Factor3 = 0.002205 (converts pounds to ppm)

The mineral resources were estimated using a block model with parent blocks of 10m x 10m x 5m and using ordinary kriging (OK) methods for grade estimation. A total of eight individual mineralized domains were identified. The determination technique of the mineral resource is based on the combination of geological modelling, geostatistics and conventional block modelling using the OK method of grade interpolation. The block model resource estimate prepared by the Tetra Tech, was based on more than 96,980 metres of diamond drilling in 462 diamond drill holes. The assay data was reviewed and a composite interval of 2.0 metres was used. Statistical and Variogram analyses were performed to determine the "nugget effect".
Rhodium grades were not estimated by the OK methodology. Rhodium values were determined using a regression formula based on the platinum and palladium grades. Rhodium values are not incorporated into the PdEq value. The PdEq value also does not include silver.
The QAQC protocols and corresponding sample preparation and shipment procedures for the River Valley Project have been reviewed and approved by Tetra Tech.
An NI43-101 compliant technical report will be filed on SEDAR within 45 days.
Table 2. River Valley Resource Tonnage at Selected PdEq Cut-Off Grades

Measured
PdEq CUT-OFF TONNES Pd (g/t) Pt (g/t) Rh (g/t) Au (g/t) Ag (g/t) Cu (%) Ni (%) Co (%) PdEq (g/t)
0.30 52,189,120 0.40 0.16 0.015 0.03 0.47 0.04 0.01 0.003 0.99
0.50 40,576,180 0.48 0.18 0.017 0.03 0.49 0.05 0.01 0.003 1.16
0.80 25,584,850 0.63 0.23 0.022 0.04 0.55 0.06 0.02 0.003 1.46
1.00 18,785,450 0.74 0.26 0.026 0.05 0.58 0.07 0.02 0.003 1.67
1.20 13,791,240 0.85 0.30 0.029 0.05 0.62 0.07 0.02 0.003 1.87
1.40 10,202,730 0.96 0.33 0.032 0.06 0.65 0.08 0.02 0.003 2.08
1.60 7,614,580 1.07 0.36 0.036 0.07 0.68 0.08 0.02 0.003 2.28
1.80 5,569,280 1.19 0.39 0.039 0.07 0.71 0.09 0.02 0.003 2.49
2.00 4,145,280 1.31 0.42 0.043 0.08 0.73 0.09 0.02 0.003 2.69

Indicated
PdEq CUT-OFF TONNES Pd (g/t) Pt (g/t) Rh (g/t) Au (g/t) Ag (g/t) Cu (%) Ni (%) Co (%) PdEq (g/t)
0.30 141,557,300 0.36 0.15 0.014 0.03 0.20 0.04 0.01 0.002 0.93
0.50 114,501,900 0.42 0.16 0.016 0.03 0.22 0.05 0.01 0.002 1.05
0.80 65,754,600 0.56 0.21 0.020 0.04 0.26 0.06 0.02 0.002 1.35
1.00 43,959,900 0.68 0.25 0.024 0.04 0.29 0.07 0.02 0.002 1.58
1.20 30,943,200 0.78 0.29 0.027 0.05 0.32 0.07 0.02 0.002 1.78
1.40 21,704,500 0.89 0.32 0.031 0.06 0.35 0.08 0.02 0.002 1.99
1.60 15,202,500 1.01 0.36 0.034 0.06 0.38 0.08 0.02 0.002 2.20
1.80 10,991,500 1.11 0.39 0.038 0.07 0.41 0.09 0.02 0.002 2.40
2.00 7,811,200 1.22 0.43 0.041 0.07 0.43 0.09 0.02 0.002 2.60

Inferred
PdEq CUT-OFF TONNES Pd (g/t) Pt (g/t) Rh (g/t) Au (g/t) Ag (g/t) Cu (%) Ni (%) Co (%) PdEq (g/t)
0.30 130,872,000 0.22 0.09 0.009 0.02 0.08 0.04 0.02 0.002 0.70
0.50 96,299,000 0.26 0.11 0.010 0.02 0.08 0.04 0.02 0.002 0.80
0.80 35,910,000 0.36 0.14 0.014 0.03 0.11 0.06 0.03 0.002 1.07
1.00 17,803,000 0.44 0.17 0.016 0.03 0.13 0.06 0.03 0.002 1.26
1.20 8,021,000 0.53 0.20 0.019 0.04 0.10 0.07 0.04 0.002 1.46
1.40 3,703,000 0.63 0.22 0.022 0.04 0.10 0.08 0.04 0.001 1.67
1.60 1,889,000 0.72 0.23 0.024 0.05 0.09 0.09 0.05 0.001 1.83
1.80 895,000 0.78 0.26 0.027 0.06 0.08 0.10 0.05 0.000 1.99
2.00 322,000 0.85 0.30 0.029 0.06 0.02 0.10 0.05 0.000 2.16

Note: due to rounding, some totals may not appear to total properly
Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing, or other relevant issues.

Qualified Persons Statement
The mineral resource estimate was prepared by Tetra Tech of Sudbury, Ontario under the supervision of Todd McCracken, Principal Geologist. Mr. McCracken is an independent qualified person as defined by NI43-101. The effective date of the resource is May 1st, 2012.
The quality control, technical information and all aspects of the 2011 exploration program were supervised by Ali Hassanalizadeh, Vice President, Exploration of PFN and a Qualified Person under NI43-101. The information in this release was prepared under the direction of Dr. William Stone, President & COO of PFN and a Qualified Person as defined by NI43-101.
About River Valley Project
In January 2011, Pacific North West Capital Corp. successfully negotiated the 100% acquisition of the River Valley PGM Project from Anglo Platinum Limited. The River Valley Project is one of North America's most advanced primary PGM deposits. The project has excellent infrastructure support and is located 100 km from the city of Sudbury, Ontario, Canada's largest nickel-copper-PGM mining and metal recovery centre.
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, and an option to joint venture a base metal project in northwestern BC's Golden Triangle region. The Company continues to evaluate PGM and nickel-copper properties and projects in North America for potential acquisition opportunities.
On behalf of the Board of Directors
(signed)
Harry Barr
Chairman and CEO
Disclaimer: 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.


please visit PFN's website at www.pfncapital.com or send requests to:
Harry Barr
Chairman & CEO
Pacific North West Capital Corp.
Tel: [phone]
Email: [e-mail]

Bill Stone
President & COO
Pacific North West Capital Corp.
Tel: [phone]
Email: [e-mail]
Canada Newswire
May 1, 2012 - 9:24 AM EDT

[Major_Bankz]

PAWEF 0.127

[futrcash]

News March20,2012-

http://pfncapital.com/s/NewsReleases.asp?ReportID=513395&_Type=News-Releases&_Title=Pacific-North-West-Capital-Announces-High-Grade-PGM-Results-at-Depth-in-Dan...

futr

[futrcash]

Good Article Explaining what PAWEF is proving up-

http://www.pfncapital.com/i/pdf/KoenigNewsletterJune2011.pdf

futr

[eom7]

I think their is a more recent one at a lower PPS.

[futrcash]

Seeing as how the most recent PP was @ .30- back on June23,11-

I'm thinking this one looks good down here-


http://www.babelation.com/feed/pacific-north-west-capital-corp-pawef-otc-linkfinra-bb-2100000-non-brokered-private-placement

thanks 'socialmediainvesting' for posting this link-

futr

[socialmedia investing]

PAWEF private placement
http://www.babelation.com/feed/pacific-north-west-capital-corp-pawef-otc-linkfinra-bb-2100000-non-brokered-private-placement

[socialmedia-investme]

PAWEF news
http://www.babelation.com/feed/pacific-north-west-capital-corp-pawef-otc-linkfinra-bb-home-country-news-release

[eom7]

Starting to look like a Monsta

[futrcash]

Hit .36 today-

[eom7]

Always the way... lol

[futrcash]

Knew I should have bought more-

Could go MUCH Higher-

imo

futr

[eom7]

And the beat goes on .255

[futrcash]

Strong Move Today-Should be interesting tomorrow-

Wish I had added Friday! lol

imo

futr

ps GDVXF has been on the move-

[MWM]

No I didn't but it's making a nice move back up to test the highs...

[eom7]

You pick up shares here?

[eom7]

Nice action here... looking fro new 52 week high!

[eom7]

Looking great!

[Mr. Zen]

There is some value in this news>>

Pacific North West Capital Acquires 100% Interest in the River Valley Platinum Group Metals (PGM) Project, ON

Pacific Northwes Cap (OTCBB:PAWEF)
Intraday Stock Chart
Today : Monday 31 January 2011
Pacific North West Capital Corp. ("PFN" or "the Company") TSX: PFN; OTCBB: PAWEF; Frankfurt: P7J) is pleased to announce that an agreement to purchase the 50% ownership in the River Valley PGM project, currently owned and held in a joint venture with Anglo Platinum Limited ("Anglo Platinum"), has been completed. The transaction, subject to the approval of the TSX, will provide PFN with an undivided 100% interest in the joint venture project.

Under the terms of the agreement, Anglo Platinum will exchange its 50% interest in the unincorporated Joint Venture, for a 12% interest in PFN, based on the issued and outstanding common shares of PFN as of November 30, 2010 (67,643.008). The aggregate purchase price for the 50% interest in the River Valley PGM project is:

(a) 8,117,161 fully paid and non-assessable Common Shares; and
(b) Three year warrants exercisable to purchase 3,000,000 Common Shares at a price of Cdn$0.30 per share

PFN will issue the shares in the Company to Kaymin Resources Ltd. ("Kaymin"), a wholly owned subsidiary of Anglo Platinum Limited, in exchange for Kaymin's 50% interest in the joint venture. The all-share transaction is expected to close upon the acceptance by the Toronto Stock Exchange.

Harry Barr, President and CEO of PFN commented, "The shares issued to Kaymin will make Anglo Platinum a strategic investor in PFN. Anglo Platinum will have the opportunity to participate in the upside of the project through the future success of the Company and at the same time, PFN will be able to seek new sources of funding to advance the River Valley PGM project."

The River Valley PGM project was acquired in 1998 by PFN through a number of transactions. PFN discovered significant PGM occurrences on the property and entered into a joint venture agreement with Anglo Platinum in 1999. PFN remained operator of the joint venture and defined a NI43-101 compliant reportable resource of 8.53 million tonnes containing 353,200 ounces of palladium (1.29 g/t), 116,800 ounces of platinum (0.43 g/t) and 20,400 ounces of gold (0.07 g/t) in the "measured" category and an additional 22.02 million tonnes containing 600,700 ounces of palladium (0.85 g/t), 212,800 ounces of platinum (0.30 g/t) and 39,000 ounces of gold (0.06 g/t) in the "indicated" category and "inferred" resources of 2.39 million tonnes containing 67,000 ounces of palladium (0.87g/t), 23,800 ounces of platinum (0.31g/t) and 4,000 ounces of gold (0.05 g/t) using a 0.7 g/t cut off (pt/pd) (PFN press release March 27, 2006).

"Stand alone PGM projects are rare in North America. The PFN/Anglo Platinum agreement is the second major acquisition of its kind in recent months. It was just over 4 months ago, in October 2010, when Stillwater Mining acquired the platinum assets of the Canadian mining junior Marathon PGM in a cash and shares deal that was valued at $118 million." Spiros Cacos, Manager Investor Relations.

The Company will now focus on advancing the project further through renewed exploration activities. Prior work had left several target areas where mineralization was open to depth and along the nine kilometre strike length.

Similarly, new target areas were discovered that returned anomalous values of PGM's but due to the financial crisis of 2008, were not followed up. Induced polarization (IP) surveys were instrumental in locating and identifying mineralized zones on the property. The Company now intends to enhance the earlier work with more recent 3D technology whereby the mineralization can in principle be traced to deeper depths and contemporaneously mapped close to surface in new target areas. The Company will provide an update of the exploration strategy in the near future.

"The timing of this agreement could not be better. We expect that the enthusiasm for global PGM exploration will escalate in the coming months. The River Valley Project has many advantages over other PGM exploration and development projects, mainly a defined resource located only sixty kilometres from the nickel-copper-PGM smelting and refining activities in Sudbury, Ontario." Anthony Kovacs, VP Exploration.

Qualified Person Statement

This news release has been reviewed and approved for technical content by John Londry, a qualified person under the provisions of national instrument 43-101.

About the River Valley PGM Project

The River Valley PGM project is located in the Dana and Pardo townships of Northern Ontario, approximately 60km east of Sudbury, Ontario. The project is road accessible in Canada's premier Ni-Cu-PGM mining and smelting district which boasts perfect infrastructure and community support for mining activities.

The River Valley project mineral claims were optioned by PFN in 1998 following the discovery of highly anomalous PGM values in grab samples. The property was subsequently optioned by PFN to Anglo Platinum in 1999. Initial exploration was guided by geochemical and induced polarization surveys with subsequent drilling proving up significant mineralization at Dana Lake and Lismer's Ridge. A mineral resource estimate in accordance with the guidelines set out by NI 43-101 was published in 2006. Anglo Platinum continued to fund exploration under the terms of the option and joint venture agreement and invested over $22M in the exploration of the property for a 50% stake in the joint venture. In order for Anglo Platinum to retain their interest in the Joint Venture, they were required to fund all exploration to completion of a feasibility study, but as a result of capital expenditure reductions during the global financial crises, no new funds were allocated to the project, above and beyond the minimal holding costs.

PFN and Anglo Platinum were able to come to terms whereby PFN could acquire Anglo Platinum's 50% stake in the River Valley JV giving PFN 100% of the River Valley PGM project by offering 12% of its current outstanding shares to Anglo Platinum. This would enable PFN to seek external funding for the project while Anglo Platinum could benefit from any future success of the project through its share ownership in PFN.

There are no other encumbrances on the River Valley PGM project associated with the terms of the sale to Anglo Platinum after an 18 month early disposition period lapses. There are currently no back-in rights or off-take agreements between the two parties. The property is still subject to a 3% NSR that is payable to the underlying vendors.

Table 1. Measured and Indicated Resources Using a 1.0 g/t cut off (Pt/Pd): 19.3 million tonnes containing 733,000 ounces palladium (1.18 g/t), 245,100 ounces of platinum (0.39 g/t) and 43,600 ounces of gold (0.07 g/t) with an additional 881,000 tonnes containing 38,400 ounces of palladium (1.36 g/t), 13,100 ounces of platinum (0.46 g/t) and 2,100 ounces of gold (0.07 g/t) of Inferred Resources using a 1.0 g/t cut off (Pt/Pd).
Table 2. Measured and Indicated Resources using a 0.7 g/t cut off (Pt/Pd) of 30.5 million tonnes containing 953,900 ounces of palladium (0.97 g/t), 329,500 ounces of platinum (0.34 g/t) and 59,500 ounces of gold (0.061g/t) with an additional 2.3 million tonnes containing 67,000 ounces of palladium (0.87g/t), 23,800 ounces of platinum (0.31g/t) and 4,000 ounces of gold (0.05 g/t) of Inferred Resources using a 0.7 g/t cut off (Pt/Pd).

Table 1: 2006 River Valley PGM Resource Estimate (cut-off grade 1.0 g/t Pt+Pd)   
 Measured Resource   
 DEPOSIT  Tonnes  Au  Pt  Pd  Cu  Ni  Pt+Pd  3E  Contained Ounces (000s)   
    000s  g/t  g/t  g/t  %  %  g/t  g/t  Au  Pt  Pd  3E   
 Dana North  2,523  0.082  0.435  1.354  0.12  0.02  1.790  1.871  6.6  35.3  109.8  151.8   
 Dana South  1,495  0.100  0.626  2.122  0.16  0.03  2.748  2.848  4.8  30.1  102.0  136.9   
 Lismer's Ridge  3,976  0.064  0.368  1.018  0.10  0.02  1.385  1.449  8.2  47.0  130.1  185.3   
 Lismer North  -  -  -  -  -  -  -  -  -  -  -  -   
 Varley  -  -  -  -  -  -  -  -  -  -  -  -   
 Total  7,994  0.076  0.437  1.331  0.12  0.02  1.768  1.844  19.6  112.4  342.0  474.0   
                                         
 Indicated Resource   
 DEPOSIT  Tonnes  Au  Pt  Pd  Cu  Ni  Pt+Pd  3E  Contained Ounces (000s)   
 000s  g/t  g/t  g/t  %  %  g/t  g/t  Au  Pt  Pd  3E   
 Dana North  3,067  0.061  0.320  0.920  0.09  0.02  1.240  1.301  6.0  31.5  90.7  128.3   
 Dana South  3,304  0.072  0.389  1.266  0.11  0.02  1.655  1.727  7.6  41.3  134.5  183.4   
 Lismer's Ridge  2,140  0.054  0.302  0.824  0.09  0.02  1.127  1.180  3.7  20.8  56.7  81.2   
 Lismer North  716  0.071  0.394  1.183  0.13  0.03  1.577  1.648  1.6  9.1  27.2  37.9   
 Varley  2,082  0.075  0.448  1.224  0.09  0.02  1.671  1.747  5.1  30.0  81.9  117.0   
 Total  11,309  0.066  0.365  1.076  0.10  0.02  1.441  1.506  24.0  132.6  391.1  547.7   
 Measured + Indicated   
 DEPOSIT  Tonnes  Au  Pt  Pd  Cu  Ni  Pt+Pd  3E  Contained Ounces (000s)   
 000s  g/t  g/t  g/t  %  %  g/t  g/t  Au  Pt  Pd  3E   
 Dana North  5,590  0.070  0.372  1.116  0.11  0.02  1.488  1.558  12.6  66.8  200.6  280.0   
 Dana South  4,800  0.080  0.463  1.533  0.13  0.02  1.995  2.076  12.4  71.4  236.5  320.3   
 Lismer's Ridge  6,116  0.060  0.345  0.950  0.10  0.02  1.295  1.356  11.9  67.8  186.8  266.6   
 Lismer North  716  0.071  0.394  1.183  0.13  0.03  1.577  1.648  1.6  9.1  27.2  37.9   
 Varley  2,082  0.076  0.448  1.224  0.08  0.02  1.672  1.747  5.1  30.0  81.9  117.0   
 Total  19,303  0.070  0.395  1.181  0.11  0.02  1.576  1.646  43.6  2451  733.0  1021.7   
                                         
 Inferred   
 DEPOSIT  Tonnes  Au  Pt  Pd  Cu  Ni  Pt+Pd  3E  Contained Ounces (000s)   
 000s  g/t  g/t  g/t  %  %  g/t  g/t  Au  Pt  Pd  3E   
 Dana North  -  -  -  -  -  -  -  -  -  -  -  -   
 Dana South  104  0.053  0.276  0.819  0.09  0.02  1.094  1.147  0.2  0.9  2.7  3.8   
 Lismer's Ridge  -  -  -  -  -  -  -  -  -  -  -  -   
 Lismer North  345  0.091  0.524  1.586  0.14  0.03  2.110  2.201  1.0  5.8  17.6  24.4   
 Varley  432  0.063  0.464  1.301  0.07  0.01  1.765  1.828  0.9  6.4  18.1  25.4   
 Total  881  0.073  0.465  1.356  0.10  0.02  1.821  1.894  2.1  13.1  38.4  53.6   
  
  
 Table 2: River Valley PGM Resource Estimate (cut-off grade 0.70 g/t Pt+Pd)   
 Measured Resource   
 DEPOSIT  Tonnes  Au  Pt  Pd  Cu  Ni  Pt+Pd  3E  Contained Ounces (000's)   
 000s  g/t  g/t  g/t  %  %  g/t  g/t  Au  Pt  Pd  Pt+Pd  3E   
 Dana North  2,623  0.080  0.428  1.327  0.12  0.02  1.755  1.835  6.8  36.1  111.9  148.0  154.8   
 Dana South  1,496  0.100  0.625  2.122  0.16  0.03  2.747  2.847  4.8  30.1  102.0  132.1  136.9   
 Lismer's Ridge  4,411  0.062  0.357  0.982  0.10  0.02  1.339  1.401  8.8  50.6  139.2  189.8  198.6   
 Lismer North  -  -  -  -  -  -  -  -  -  -  -     -   
 Varley  -  -  -  -  -  -  -  -  -  -  -     -   
 Total  8,530  0.074  0.426  1.288  0.12  0.02  1.714  1.788  20.4  116.8  353.2  470.0  490.4   
                                            
 Indicated Resource   
 DEPOSIT  Tonnes  Au  Pt  Pd  Cu  Ni  Pt+Pd  3E  Contained Ounces (000's)   
 000's  g/t  g/t  g/t  %  %  g/t  g/t  Au  Pt  Pd  Pt+Pd  3E   
 Dana North  5,881  0.054  0.278  0.777  0.09  0.02  1.055  1.109  10.2  52.6  146.9  199.5  209.6   
 Dana South  3,516  0.071  0.380  1.229  0.11  0.02  1.609  1.680  8.0  42.9  138.9  181.9  189.9   
 Lismer's Ridge  7,439  0.046  0.255  0.667  0.08  0.02  0.922  0.968  11.1  61.0  159.4  220.5  231.5   
 Lismer North  1,333  0.058  0.316  0.911  0.11  0.03  1.227  1.285  2.5  13.5  39.0  52.6  55.0   
 Varley  3,855  0.059  0.345  0.939  0.07  0.02  1.283  1.342  7.3  42.7  116.3  159.1  166.3   
 Total  22,024  0.055  0.300  0.848  0.09  0.02  1.149  1.204  39.0  212.8  600.7  813.4  852.4   
                                            
 Measured + Indicated   
 DEPOSIT  Tonnes  Au  Pt  Pd  Cu  Ni  Pt+Pd  3E  Contained Ounces (000's)   
 000's  g/t  g/t  g/t  %  %  g/t  g/t  Au  Pt  Pd  Pt+Pd  3E   
 Dana North  8,504  0.062  0.324  0.947  0.10  0.02  1.271  1.333  17.0  88.6  258.9  347.4  364.4   
 Dana South  5,012  0.079  0.453  1.496  0.13  0.02  1.949  2.028  12.8  73.0  241.1  314.1  326.8   
 Lismer's Ridge  11,850  0.052  0.293  0.784  0.09  0.02  1.077  1.129  19.9  111.7  298.6  410.3  430.2   
 Lismer North  1,333  0.058  0.316  0.911  0.11  0.03  1.227  1.285  2.5  13.5  39.0  52.6  55.0   
 Varley  3,855  0.059  0.345  0.939  0.07  0.02  1.283  1.342  7.3  42.7  116.3  159.1  166.3   
 Total  30,554  0.061  0.335  0.971  0.10  0.02  1.306  1.367  59.5  329.5  953.9  1283.3  1342.8   
                                            
 Inferred   
 DEPOSIT  Tonnes  Au  Pt  Pd  Cu  Ni  Pt+Pd  3E  Contained Ounces (000's)   
 000's  g/t  g/t  g/t  %  %  g/t  g/t  Au  Pt  Pd  Pt+Pd  3E   
 Dana North  41  0.035  0.209  0.559  0.07  0.02  0.769  0.803  0.0  0.3  0.7  1.0  1.1   
 Dana South  552  0.047  0.229  0.648  0.08  0.02  0.876  0.923  0.8  4.1  11.5  15.5  16.4   
 Lismer's Ridge  330  0.039  0.219  0.529  0.08  0.02  0.748  0.788  0.4  2.1  5.1  7.2  7.7   
 Lismer North  546  0.073  0.419  1.224  0.12  0.03  1.644  1.717  1.3  7.4  21.5  28.9  30.2   
 Varley  948  0.050  0.326  0.925  0.07  0.02  1.251  1.301  1.5  9.9  28.2  38.1  39.6   
 Total  2,389  0.053  0.309  0.873  0.09  0.02  1.182  1.235  4.0  23.8  67.0  90.8  94.9

About Pacific North West Capital Corp:

Pacific North West Capital Corp. (TSX: PFN; OTCQX: PAWEF; Frankfurt: P7J.F) is a mineral exploration company focused on the exploration and development of one of Canada's largest primary Platinum Group Metals (PGM) deposits, the River Valley PGM Project located in the Sudbury region of Ontario. In addition, the Company has an active gold exploration program near Val d'Or, Québec, one of the world's most famous gold and base metal producing regions. The Company is also advancing a polymetallic project in the Iskut River region of British Columbia. Pacific North West Capital Corp. is also a significant shareholder of Fire River Gold Corp (FAU:TSX.V) who is developing the Nixon Fork Gold Mine in Alaska.

Pacific North West Capital Corp. is well funded and plans to use management's technical, financing and negotiating skills to acquire additional platinum group metals, base metals and precious metals projects on an international scale.

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. Pacific North West Capital Corp. is a member of the International Metals Group of Companies (www.internationalmetalsgroup.com).

On behalf of the Board of Directors

(signed)

Harry Barr President & C.E.O.


Disclaimer: 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.

[MWM]

Still water huh? nice

[eom7]

Cheep down here IMO!

[futrcash]

I still have 5k shares of this -thanks for reminding me lol

Might have to increase that #

Always liked having Stillwater as a partner

futr

[MWM]

On watch

[eom7]

Also Phase 3 drill results have not been reported yet and are pending.

[eom7]

Crazy under $10MM MKT CAP, See Investor Fact sheet: http://www.pfncapital.com/i/pdf/PFN_factsheet.pdf

[eom7]

Also have 6.5MM shares of Fire River (FVGCF) .497

[eom7]

Updated NI43-101 Mineral Resource Estimate Reports Significant Increase in Contained Ounces of Gold for the Destiny Gold Project near Val-d'Or, Québec

Jan 24, 2011 8:00:00 AM
Close Ad

Indicated Resource contains approximately 364,000 ounces gold
Inferred Resource contains approximately 247,000 ounces gold
DAC Deposit occurs at surface and is open in both strike and dip
Awaiting assay results from the Phase 3 drilling program
TSX: PFN OTCQX: PAWEF FSE: P7J

VANCOUVER, Jan. 24 /CNW/ - Pacific North West Capital Corp. ("PFN") TSX: PFN; OTCBB: PAWEF; Frankfurt: P7J and Alto Ventures Ltd. ("ATV") TSX-V: ATV (together "the Companies") are pleased to announce receipt of a draft of an NI43-101 Technical Report (the Report) including a new Mineral Resource Estimate for the DAC Gold Deposit on the Destiny Project located near Val d'Or, Quebec. The Report was prepared by Wardrop, a Tetra Tech Company (Wardrop) and incorporates over 7,600 m of additional drilling that was completed on the deposit subsequent to an earlier NI43-101 compliant resource estimate calculated by W. A. Hubacheck Consultants Ltd and filed on SEDAR in 2007.

Indicated and Inferred resources have been determined for the DAC Deposit. The deposit is made up of narrow high grade gold-bearing quartz veins occurring within five parallel alteration zones (Figures 1 and 2). These alteration zones carry gold at lower grades than the quartz veins but are significantly wider. The Wardrop report indicates that the additional drilling has expanded the DAC Deposit and significantly increased the contained ounces of gold. "We have far exceeded our objectives for this project over the past year. Our initial goal was to double the previous resource on the DAC deposit and now we see the potential for something much bigger." Harry Barr, President and CEO of PFN.

At a cut-off grade of 0.5 g/t gold and using the Inverse Distance Squared (ID2) estimation method, the five gold zones contain an Indicated Resource of about 10.8 million tonnes with an average grade of 1.05 g/t gold (364,000 contained ounces). In addition, the Inferred Resource totals 8.3 million tonnes with an average grade of 0.92 g/t gold (247,000 contained ounces). Table 1 summarises the Resource Estimate at the 0.5 g/t cut-off.

Table 1- DAC Resource Estimation Summary (using ID2 method)

Class Zone Capping

Grade

(g/t) Tonnes

Above

Capped

Grade Average

Grade

(g/t) Average

True

Width (m) Au

Ounces
Indicated 1 7.53 1,395,600 0.84 16 37,760
2 19.63 2,942,700 1.19 30 112,644
3 6.66 1,370,700 0.99 12 43,675
4 10.80 3,542,600 1.06 21 121,221
5 14.00 1,573,900 0.97 15 49,231
Total 10,825,500 1.05 364,530
Inferred 1 7.53 971,900 0.70 16 21,724
2 19.63 1,841,100 1.06 30 62,487
3 6.66 725,500 0.93 12 21,759
4 10.80 3,085,300 0.89 21 88,767
5 14.00 1,706,600 0.96 15 52,854
Total 8,330,400 0.92 247,590
Table 2- Cut-off Sensitivities for the DAC Deposit Resource Estimate

Class ID2 Cut-off

(Au g/t) Tonnes Average Grade

(Au g/t) Contained

Ounces Au
Indicated