Pacific North West Capital Corp fka PFN

[sumisu]

Pacific North West Capital Doubles Drill Program on West Timmins Nickel Project, adjacent to Xstrata's Montcalm Mine, Ontario

Friday June 15, 11:07 am ET

http://biz.yahoo.com/cnw/070615/pfn_timminsni_drillng.html?.v=1

VANCOUVER, June 15 /CNW/ - Pacific North West Capital Corp. (PFN) (TSX: PFN OTCBB: PAWEF Frankfurt: P7J) is pleased to announce that the diamond drill program that commenced on May 11, 2007 has doubled to evaluate additional geophysical and geological targets along with the deep EM conductors (200 metres). The meterage has been increased to 4000 meters to test earlier indicated targets south of the Montcalm Mine as well as others within the Montcalm Intrusive Complex (MIC).

The PFN drill program is continuing to evaluate deep conductive targets, identified from a Pulse EM survey, with coincident magnetic signatures similar to those identified over the Montcalm Mine mineralization. These drill targets are also supported by the identification of a geological environment from previous drill results in 2005, to the south-west of the Montcalm Mine, similar to that hosting the ore mineralization (Cu-Ni) in the Montcalm Mine. Off-hole EM conductors identified in 2005 drill holes as well as some of the defined AeroTem conductors will also be tested with this added drilling meterage. Additionally, all of the 2007 drill holes are being probed with down-hole pulse surveys to determine if the best parts of the conductors have been intersected. The West Timmins Nickel Project was obtained by an Option/Joint Venture with Xstrata Nickel, whereby PFN may earn a 100% interest in the Project. The West Timmins Project covers 355 km2 (26,928 hectares), some 60 km west of Timmins, Ontario. To view location figure, please visit: www.pfncapital.com.

Numerous other anomalies, in the MIC, delineated by airborne EM (AeroTEM), downhole geophysics, and geochemical techniques (MMI survey) will still remain to be drill tested. Other geological target areas within the MIC have to be evaluated by ground reconnaissance surveys. These follow-up programs are expected to be initiated later in the year.

The West Timmins project is located adjacent to Xstrata Nickel's Montcalm deposit. The deposit contains a Proven Mineral Reserve of 4.1 million tonnes (at) 1.38% Ni, 0.64% Cu as of December 31, 2006. Ore is transported 108 km east from the Montcalm Mine to the Kidd Creek Metallurgical Complex to be processed. To view Location Figure, please visit: www.pfncapital.com.

About Pacific North West Capital Corp.

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Pacific North West Capital Corp. is a North American industry leader in the search for Platinum Group Metals (PGMs) and Nickel.

PFN is currently in the most aggressive acquisition phase of the company's history and is committed to advancing its existing projects and acquiring new projects via self-funding or option/joint venture agreements with major mining companies. The company has over $8 million in working capital and securities.

In late 2004 PFN established a Nickel Division that is rapidly growing and today has an Option/Joint Venture in the Timmins Mining District with Xstrata Nickel with further announcements pending on other projects. An extensive geophysical and ground proofing exploration program has been completed. PFN has expended approximately $1.69 million on the project to date. In May, a diamond drill program commenced to evaluate EM conductors to depths of 200 meters south of the Montcalm Mine claims, Timmins, Ontario. The targets are within the strike extension of the interpreted mine stratigraphy of the Montcalm Intrusive Complex (MIC). The program was expanded to 3000 meters in June 2007.

Stillwater Mining Company (NYSE: SWC - News), the largest producer of palladium and platinum in the Western hemisphere, recently purchased 11% of PFN and is a strategic partner in the search for new platinum group metal discoveries in North America. PFN and Stillwater have entered into a non-binding Letter Agreement pertaining to ongoing exploration of the Goodnews Bay Platinum Project. The Letter Agreement also provides for Stillwater to fund reconnaissance on other Alaskan PFN exploration projects with the provision for Stillwater to enter into option/joint venture agreements on the Goodnews Bay Project and 1 or more of the reconnaissance projects.

Under the terms of the Letter Agreement, Stillwater will spend $4 million to earn 50% of GBPP by December 31, 2010. Stillwater may elect to increase its interest to 60% by incurring an additional $8 million in exploration expenditures within an additional two year period or upon completion of a Feasibility Study, whichever occurs first. Stillwater may increase its interest to 65% by arranging for 100% of the project financing required to place the Property into Commercial Production within an additional three years.

Under the Reconnaissance portion of the Letter Agreement, Stillwater will expend $500,000 in 2007 which will allow it to inspect several of PFN's proposed projects. In the event Stillwater elects to continue participating in one or more projects, they will automatically be able to enter into one or more agreements identical to the Goodnews Bay. Pacific North West Capital is the project operator.

In addition, PFN is exploring the River Valley Project, located near Sudbury, Ontario, joint ventured 50/50 with Anglo Platinum Limited ("Anglo Platinum"), the world's largest primary producer of platinum. Anglo Platinum has committed over $19 million to the River Valley Project to date and may earn a 60% interest in the project by completing a feasibility study and a 65% interest by funding it through to production.

Current measured and indicated resources: 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 (0.061 g/t) with an additional 2.3 million tonnes containing 67,000 ounces of palladium (0.87 g/t), 23,800 ounces of platinum (0.31 g/t) and 4,000 ounces of gold (0.05 g/t) of Inferred Resources using a 0.7 g/t cut off (pt/pd). The objective of the 2006 $1.1 million Phase 9A budget was to extend the new Platinum Group Metal mineralized horizons discovered during the 2005 fieldwork and to better understand the structural controls on the mineralization. Management recently presented Anglo Platinum with the 2007 work program and budget.

In 2006, PFN signed a Cooperation Agreement with SOQUEM Inc., a wholly owned subsidiary of the Société Générale de Financement du Québec ("SGF"), mandated to put new mines into production. Under the terms of the Agreement, PFN and SOQUEM are participating in a 50/50 joint venture with the objective of identifying viable PGM and base metal properties for further exploration. PFN and SOQUEM recently announced a Phase Two 2007 budget of $460,000 to advance work on reconnaissance properties in Quebec. The summer exploration program has begun on this project.

PFN management is currently negotiating and acquiring several new PGM and Nickel/Base Metals projects throughout North America more specifically in Labrador, Quebec, Ontario, Manitoba, Saskatchewan, British Columbia, Northwest Territories and Alaska.

The company has over $8 million in working capital and securities.

The Qualified Person for this release is John W. Londry, M.Sc, P. Geo, VP Exploration, Pacific North West Capital.


On behalf of the Board of Directors

(signed)

Harry Barr
President and CEO


The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.


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.
For further information

Tel: [phone], Fax: [phone], Email: [e-mail], or visit www.pfncapital.com
2303 West 41st Avenue, Vancouver, B.C., Canada, V6M 2A3



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Source: Pacific North West Capital Corp.