Pacific North West Capital Corp. and First Nickel Inc. Sign Joint Venture on Raglan Hills Project

TSX: PFN OTCBB: PAWEF Frankfurt: P7J

    VANCOUVER, Dec. 11 /PRNewswire-FirstCall/ - Pacific North West Capital
 Corp. ("PFN") (TSX: PFN) and First Nickel Inc. (TSX: FNI) ("First Nickel")
 are pleased to report that they have entered into a Joint Venture agreement
 to undertake exploration on the Raglan Hills Project. The Raglan Hills
 Project is situated northeast of Bancroft in the Province of Ontario and
 comprises 21 claim blocks totalling 2,752 hectares.
 
     The Raglan Hills Project is located over the northeastern portion of
 the Raglan Hills Intrusive Complex. The Complex is a differentiated mafic
 intrusive composed primarily of meta-gabbro with lesser proportions of
 meta-pyroxenite. The more mafic, pyroxenitic units host historical, nickel
 and copper sulphide showings and may represent the feeder system to the
 Intrusive Complex. Minimal exploration has occurred since the late 1980's
 and the property has potential to host economic nickel-copper sulphide
 zones within this feeder system. The exploration program will be designed
 to identify and test priority areas within the property boundaries.
 
     Pacific North West Capital and First Nickel have entered into a 50% -
 50% Joint Venture Agreement whereby both Companies agree to bear all
 expenditures and participate in a single purpose unincorporated Joint
 Venture for the purpose of carrying out all Mineral exploration
 
     First Nickel will act as Operator for the project and will be
 responsible for carrying out all exploration activities.
 
     About First Nickel:
 
     First Nickel is a Canadian mining and exploration company. Its current
 activities are primarily focused on the Sudbury Basin in northern Ontario,
 the location of the company's producing property (the Lockerby Mine) and
 four of its exploration properties. First Nickel also has two exploration
 properties in the Timmins region of northern Ontario. First Nickel's shares
 are traded on the TSX under the symbol FNI.
 
     About Pacific North West Capital Corp:
 
     Pacific North West Capital Corp. (TSX.PFN OTCBB.PAWEF Frankfurt.P7J) is
 a mineral exploration company focused on Platinum Group Metals (PGMs) and
 Base Metals. Management's corporate philosophy is to be Project Generator,
 Explorer and Project Operator with the objective of option/joint venturing
 projects with major mining companies through to production. To that end,
 Pacific North West Capital's current option/joint ventures agreements are
 with Anglo Platinum, Stillwater Mining Company, Xstrata Nickel and SOQUEM.
 The company has $8 Million in working capital and securities with no debt.
 
 

     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.
 
     CONTACT: Tel: (604) 685-1870, Fax: (604) 685-8045, Email:
 info@pfncapital.com, or visit www.pfncapital.com, 2303 West 41st Avenue,
 Vancouver, B.C., Canada, V6M 2A3
 
 
 

SOURCE Pacific North West Capital Corp.