July 3, 2008
Pacific North West Capital and Benton Resources Complete Helicopter-Borne Magnetic and VTEM Survey on the Swayze Nickel Project, ON
VANCOUVER, July 3 /PRNewswire-FirstCall/ -- Pacific North West Capital Corp. ("PFN") (TSX: PFN) and Benton Resources Corp. (TSX.V : BTC) ("Benton") are pleased to announce that a helicopter-borne magnetic and electromagnetic (VTEM) survey has been completed over the Tooms Twp claim block of the Swayze JV Project located west of Timmins, Ontario.
See map attachment: http://www.pfncapital.com/s/NewsReleases.asp?ReportID=310035
The Swayze JV was formed to explore for nickel-copper-platinum-palladium deposits in the ultramafic rocks of the Swayze Greenstone Complex, centered 80 km southwest of Timmins. Land holdings include three claim blocks totaling 670 units located in Tooms, Heenan and Kenogaming Townships. The Tooms property is host to several nickel showings with historic values including drill core values of up to 0.83% Ni over 7.3 meters including 2.5% Ni over 1.6 meters (MNDM assessment files). On the Heenan Twp. Claim block, a 20 km grid has been cut and ground magnetic and induced polarization surveys have been completed over a new gold-bearing zone discovered by prospectors John Hussey and Armand Aube of Timmins. Initial surface grab samples from the zone have returned up to 4.3 gpt Au.
Mapping and prospecting crews are currently active on the Heenan and Kenogaming claim blocks and will be dispatched to the Tooms property when results from the airborne survey have been compiled.
Benton Resources Corp. and Pacific North West Capital are participating in a 50% - 50% Joint Venture 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. Benton is the Operator for the project and will be responsible for carrying out all exploration activities.
About Benton Resources Corp:
Benton Resources Corp. is a mineral exploration company listed on the TSX Venture Exchange under the symbol BTC. Benton's aggressive and experienced management team is focused on base and precious group metal exploration. The Company's diverse property portfolio includes Canadian projects which are highly prospective for gold, uranium, platinum, palladium, nickel and copper. The Company currently has approximately $20 million in working capital.
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 a 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, Benton Resources, First Nickel and SOQUEM.
Pacific North West Capital Corp. has approximately $9.5 million in working capital and securities.
On behalf of the Board of Directors (signed) Harry Barr President & 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: [email protected], or visit http://www.pfncapital.com/; 2303 West 41st Avenue, Vancouver, B.C., Canada, V6M 2A3
Pacific North West Capital Corp.
CONTACT: Tel: (604) 685-1870; Fax: (604) 685-8045; Email:[email protected], or visit http://www.pfncapital.com/; 2303 West 41st Avenue,Vancouver, B.C., Canada, V6M 2A3