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Gold/Mining/Energy : SUDBURY AREA AND THE PGM PLAY -- Ignore unavailable to you. Want to Upgrade?

To: Brumell who wrote (325)	10/23/2000 12:29:50 PM
From: RICK	Read Replies (1) \| Respond to of 349

Pacific North West Capital Corp. (PFN) is pleased to report a significant new Platinum Group Metals (PGM) discovery on the River Valley Property in the Lismer's Ridge Area located, approximately 1.5 km southeast of the main mineralised target at Dana Lake. PGM-bearing mafic magmatic breccias, comparable in width and grade to those exposed on surface at the Dana Lake Area, have now been exposed intermittently along the intrusive contact in the Lismer's Ridge area over an 800 m strike length. Mineralised breccias have already been delineated along the same intrusive contact near Dana Lake, intermittent over a 900 m strike length and to depths of more than 190 m. The results of the stripping and sampling programs at the Dana Lake Area and Lismer's Ridge, the only two areas of the 10 km long prospective River Valley Intrusive contact area on the property where stripping has been carried out to date, indicate that the prospective PGM-bearing breccia units are much more extensive than previously thought and extend, at least semi-continuously, along the contact for 2-3 km. In addition, the extensive mineralised strike length at Lismer's Ridge and similarities to the Dana Lake Area, suggests the mineralisation may extend to depth. This new discovery is therefore significant because the strike length and depth extent of the mineralised breccia presents large tonnage opportunities. Drill holes RV-38, RV-39 and RV-40 were completed as part of the Phase 3 drill program as an initial test of the Lismer's Ridge mineralisation. Assay results from these drill holes will be reported in the coming week. The following surface sample assay information is given only to provide a general impression of the range and extent of PGM values in this area (see attached map). Additional stripping and sampling will be required in order to ascertain the boundaries of the mineralisation. Sample Summary from Exposed Mineralized Breccia Zones - Lismer's Ridge -------------------------------------------------------------------------- Line* Est. Dimensions Area Samples Range in PGM Average Pd:Pt Highest -------------------------------------------------------------------------- S.E. Wdth Lgth (m2) Samp. From To (g/t) (g/t) PGM (g/t) S.E. (m) (m) (g/t) (g/t) 12+75 10 10 100 15 0.02 0.72 0.18 2.2 1.01 13+25 10 10 100 17 0.13 1.27 0.48 2.2 1.27 13+75 25 10 250 40 0.08 3.40 0.68 2.4 3.40 14+50 15 7.5 113 16 0.04 3.54 0.57 2.5 3.54 16+75 20 8 160 35 0.02 2.66 0.50 2.2 2.66 18+00 20 90 1800 173 0.01 6.86 0.88 2.0 6.86 19+75 12 10 120 25 0.01 5.00 0.60 2.0 5.00 20+25 25 30 750 57 0.04 9.30 1.52 2.4 9.30 -------------------------------------------------------------------------- grid lines are oriented at 45 degrees east of north *previously reported on September 26th, 2000 As previously reported, the Company, in its capacity as program operator, has recently laid out a proposal for consideration whereby exploration on the property will be greatly expanded over the next 14 months with the objective of accelerating exploration along the favourable contact. This will include systematic drilling along the contact to intersect the breccia unit at depths of up to 300 m or more. Funding for exploration on the River Valley Property is provided by Anglo American Platinum Corporation (Amplats) the largest producer of platinum group metals in the world. Amplats may earn up to a 65% interest in the property by funding it through to commercial production. Amplats has already contributed Can $2 million in exploration funding to the property, in addition to making PFN a Can $300,000 cash payment. On behalf of the Board of Directors Harry Barr, President The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.