Vancouver, BC (ToenWave Media) January 31, 2007 -- Pacific North West Capital Corp. www.pfncapital.com ('PFN') (TSX: PFN; OTCBB: PAWEF; Frankfurt: P7J), is pleased to announce exploration results from its Goodnews Bay platinum project in southwest Alaska (Figure 1 & 2). See: http://301url.com/Goodnews_Bay_Exploration.
Field exploration efforts in 2006 focused on the Goodnews Bay ultramafic intrusion in the Susie Mt. area (Figure 3) of the project where historical exploration resulted in discovery of +1 gram per tonne platinum in rock and soil samples. The 2006 evaluation program consisted of power auger basal soil samples, pan concentrate samples and rock samples in addition to reconnaissance scale prospecting. See: http://301url.com/Goodnews_Bay_Exploration.
According to Harry Barr, President and CEO of Pacific North West Capital Corp., “Results from the 2006 programs returned anomalous Pt values in the basal soil layer on the southwest flank of Susie Mountain with Pt values as high as 268 ppb.”
The anomalous values are underlain by clinopyroxene dominated rocks which are believed to host potential lode occurrences of platinum. The approximate 600,000 ounces of placer platinum recovered from the Salmon River (Figure 3) likely originated from Red Mountain. The potential to find equivalent platinum at source remains good in the geological units on Susie Mountain.
All sample preparation was conducted for the Goodnews Bay project in 2006 by Alaska Assay Laboratories in Fairbanks, Alaska. All sample geochemical analyses conducted for the Goodnews Bay project in 2006 were completed by ALS Chemex in Vancouver, British Columbia.
The qualified person responsible for this Pacific North West Capital Corp www.pfncapital.com news release is Curt Freeman, M.Sc. P. Geo.
On behalf of the Board of Directors
"Harry Barr"
Harry Barr, President & CEO
For further information, please contact our Investor Relations Department at Toll Free 1-800-667-1870
The Toronto Stock Exchange have not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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. Not to be construed as an offer to buy or sell securities of this company.
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