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Gold/Mining/Energy : Pacific North West Capital Corporation-PFN on Alberta -- Ignore unavailable to you. Want to Upgrade?

To: John Trudeau who wrote (2145)	10/6/2003 4:58:33 AM
From: VAUGHN	Respond to of 2255

Thanks John I have a nice piece of ITF as well but while I am sure sampling and perhaps other news may be exciting this fall, their drilling is no where near as advanced on their two potential elephants as it is on PFN's RV claims. I am looking forward to seeing what comes out at the PFN AGM as their advanced River Valley drilling and proven/probable reserves have to interest the professional community, which means near term anticipation of a mining decision/takeover. This fall's news and buying should be very interesting... Regards Vaughn

To: John Trudeau who wrote (2145)	10/6/2003 4:11:11 PM
From: VAUGHN	Respond to of 2255

Good Afternoon John Not sure if HB did a great job promoting at the Calgary show, if there's some news coming out, or if the market is just starting to take notice, but PFN took a nice 12% bump today on modest volume. That always makes my day but I would love to see trading spike a bit more. When houses start deepening their positions this fall I am sure that volume will be significantly higher despite any quiet accumulation that might be attempted. I have successfully speculated and invested in the junior mining markets for more than a few decades now and I have never been more confident of impending appreciation. Increased institutional investment is about as sure a thing in this case as there could be in this game, given the extent of proven reserves, Anglo's deep involvement/ongoing investment, PFN continuing to report increasing grades and mineralization open to depth, ongoing drilling well into the fall indicating strike measured in miles, a qualified work force, proximity to infrastructure and a commodity in significant demand. All that spells long term low cost mining potential. All the pieces are in place. Have a good one. Vaughn

To: John Trudeau who wrote (2145)	10/6/2003 4:38:58 PM
From: VAUGHN	Read Replies (1) \| Respond to of 2255

This just out: Minews Story Date : October 7, 2003 New Resource Estimate for Pacific North West’s River Valley PGM Joint Venture With Amplats Expected Shortly. For several months now the focus has been on gold, but there was a change on Friday when platinum took centre stage, while gold went into free fall. How long this will last is difficult to tell on the evidence of a single day’s trading on New York after London closed, but the situation in platinum is interesting. It is said that the metal reached a fresh 23 year peak of US$726/oz on speculation about shortages of supply resulting from Anglo American Platinum, the world’s biggest platinum producer, failing to hit its 50 per cent expansion target. The truth of the matter seems to be that the strength of the rand and the threat of a 4 per cent royalty on platinum production is making life difficult in South Africa, as Cluff Mining pointed out recently, and South Africa produces 74 per cent of the world’s platinum. The problems in South Africa must add to the attraction of exploring for platinum elsewhere in the world with the price at current levels and John Royall of the Canadian company Pacific Northwest Capital has been ensuring that investors in London do not overlook the potential of his company. Pacific Northwest is involved in two joint ventures with Anglo American Platinum in the Sudbury region of Ontario as well as another with Lonmin in Alaska. Pacific Northwest is operator on all three projects and the aim of the company is to become North America’s third producer of platinum group metals. Ahead of it are Stillwater Mining which is now controlled by Russia’s Norilsk Nickel and North American Palladium which produces at the Lac Des Isles mine near Thunder Bay. The River Valley and Agnew Lake projects, which are the Amplats joint ventures, lie either side of Sudbury which gives them access to major infrastructure as well as two smelters. The River Valley project covers 13 kms of the prospective northern contact of the River Valley intrusion and the platinum group metals are found in magmatic breccias close the intrusive contact. The initial drilling discovery was made back in the winter of 2000 and since than 232 holes totalling 47,000 metres have been drilled, mostly in the Dana Lake and Lismer’s Ridge areas. As a result a resource of 1,026,500 ounces of platinum, palladium and gold was calculated, but another figure should be published shortly once all the results of the C$5.3 million Phase 6 drilling have been assessed. This 145,000 ft drilling programme focused on 8 secondary target areas, but this still leaves around 70 per cent of the property unexplored. The Agnew Lake project is about 60 kms west of Sudbury and covers around 15 kms of the prospective contact of the Agnew Lake intrusion so the platinum group metal mineralisation is in a similar geological setting to that at River Valley. The exploration is not as advanced as at River Valley as Amplats has committed half as much money to date, but it can earn a 49.5 per cent interest by spending C$6 million by the end of next year. The attraction to Amplats of both these projects is that they have the potential to be open pittable. At the moment the intersections are encouraging from the point of view of size, but the grade of 1 to 1.5 g/t is on the thin side. The partners are working on the theory that there can be high grade zones within these intervals which would transform the projects. Towards the end of last year Pacific North West agreed an earn-in with its sister company Freegold Ventures to acquire a 50 per cent interest in the Union Bay PGM prospect in Alaska . This prospect sits on the Alexander platinum belt and the results of previous government surveys indicated values of up to 19 g/t platinum in pan concentrates. This is supported by 6 zones of platinum and palladium mineralisation identified in outcrop and drill core which have graded up to 11.2 g/t. Earlier this year Lonmin, the platinum producer in South Africa which is well known in London, entered a joint venture with the two companies on Union Bay. US$815,000 is being spent this year and Lonmin can earn a 70 per cent interest by taking the project through feasibility. Current work involves drilling several known outcropping targets and defining further drill targets. There seems little doubt that the imminent update will increase the resource at River Valley significantly as one hole to the north intersected 57.4 feet grading 5.1 g/t Pt, Pd and gold and it included 11.5 feet of 7.3 g/t. This confirms the theory of high grade zones and validates the decision by Amplats to increase its exploration budget from C$2.3 million in 2002 to C$5.3 million this year. Somehow the potential of Pacific North West with its backing from two of the biggest platinum producers in the world seems to have escaped the notice of the investment world. Maybe the announcement of the new resource will focus attention back again on a very interesting bulk tonnage project. Regards Vaughn