NEWS RELEASE October 18, 1999
ASE Trade Symbol: PFN
DRILL PROGRAMS BEGIN
SUDBURY, ONTARIO PLATINUM/PALLADIUM PROJECTS
Pacific North West Capital Corp. ("PFN") is pleased to report that diamond
drilling will commence October 19 on the Sargesson Lake and Davis-Kelly
copper+nickel/Platinum Group Metal projects located 50 km northeast of
Sudbury, Ontario. These exploration programs are funded by an option/joint
venture agreement with Consolidated Venturex Holdings Ltd (CVA-VSE).
Platinum Group Metals, or "PGM"s, are defined as platinum+palladium+gold.
Platinum and palladium, produced mainly in South Africa and Russia, have
experienced strong price increases in recent years due to growing global
demand.
Grab samples from Sargesson Lake have returned highly anomalous PGM and
copper+nickel values such as 2.81 g/t PGM, 0.07% Cu and 0.04% Ni (south
exploration grid) and 2.10 g/t PGM, 0.76% Cu and 0.32% Ni (north
exploration grid). Drilling will test the extent of mineralization along
strike and down-dip of the surface showings.
Several grab samples taken from the immediate area of the main showing on
the Davis-Kelly project have assayed as high as 6.3 g/t PGM, 0.29% Cu and
0.15% Ni. Drilling at Davis-Kelly will test the extent of the sulphide
mineralization along strike and down-dip of the main surface showing.
The PFN/CVA properties are part of a large Sudbury region land holding,
highly prospective for PGM/Cu+Ni mineralization, that is controlled by PFN.
Other properties in this holding are being explored in conjunction with
AMPLATS, the Anglo American Platinum Corporation Ltd, which is the world's
largest platinum producer. New information on the PFN/AMPLATS properties
will be released shortly.
Pacific North West Capital Corp.'s website, www.augoldgroup.com, has
available a buy recommendation dated October 18, 1999, written by a
Canadian mining analyst. This new report is accessible through the
"newsletters" button on the web site.
ON BEHALF OF THE BOARD OF DIRECTORS
Harry Barr, President
For further information call: Investor Relations at
1-800-667-1870 or by email: pfn@info-mine.com
S.E.C. 12g(3) exemption # 82-4828
The Alberta Stock Exchange has neither approved nor disapproved the
information contained herein.
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