PACIFIC NORTH WEST CAPITAL CORP. COMMENCES TRADING ON THE U.S. OTCQX MARKET TIER

TSX: PFN OTCQX: PAWEF FSE: P7J

VANCOUVER, Oct. 26 /PRNewswire/ – Pacific North West Capital Corp. (“PFN” or the “Company”) (PFN:TSX,
OTCQX:PAWEF, FSE:P7J) is pleased to announce that its common shares have commenced trading on
the Pink OTC Market’s prestigious OTCQX market tier under the symbol “PAWEF”, effective at the market open on Tuesday, October 26, 2010. PFN’s common
shares will continue to trade on the Toronto Stock Exchange (TSX) under
the symbol “PFN”. Listing on OTCQX will provide Pacific North West
Capital with greater access to the U.S. capital markets, increased U.S.
investor visibility and an opportunity to diversify its shareholder
base.

The New York based law firm, Berns & Berns will serve as the Pacific
North West Capital’s Principal American Liaison (“PAL”) on OTCQX
regulatory matters and Moody Capital LLC will serve as the Company’s
exclusive OTCQX financial consultant/advisor for marketing the Company
to U.S. investors and monitoring trading activity.

“We are pleased to be able to better serve the growing number of U.S.
investors following Pacific North West Capital with the enhanced
U.S.-based trading platform offered by OTCQX and the advisory services
offered by Moody Capital LLC,” said PFN’s President and CEO, Harry Barr. “The OTCQX has earned a strong reputation for providing U.S. investors
with improved liquidity, transparency, superior information, and easy
access through their U.S. regulated broker-dealers. We believe that listing on the OTCQX is in the best interest of the
shareholders and will better enable the Company to raise additional
capital to further develop its projects and provide additional market
liquidity.”

About OTCQX

The OTCQX marketplace is the premier tier of the U.S. Over-the-Counter
market.  Investor-focused companies use the quality controlled OTCQX
listing platform to offer investors transparent trading, superior
information, and easy access through their regulated U.S.
broker-dealers. The innovative OTCQX platform offers companies and
their shareholders a level of marketplace services formerly available
only on a U.S. exchange.  For more about OTCQX, visit www.otcqx.com.

OTCQX provides a gateway to U.S. securities markets for international
companies that are listed on a qualified non-U.S. exchange. More
importantly, OTCQX distinguishes reputable international issuers from
the other 9,000 over-the-counter (OTC) securities traded in the U.S.
Only leading companies that have substantial operating businesses and
provide ongoing, credible disclosure to the public are eligible for
inclusion on the premium-tier OTCQX, which commenced trading on March
5, 2007. For more about OTCQX, visit www.otcqx.com.

About Pacific North West Capital Corp:

Pacific North West Capital Corp. is a mineral exploration company
focused on Platinum Group Metals (PGM), precious 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 and junior mining companies through to
production. To that end, Pacific North West Capital’s current
option/joint ventures agreements are with Anglo Platinum, First Nickel,
Alto Ventures and is a major shareholder of Fire River Gold Corp. (www.firerivergold.com)

About the River Valley PGM Project

The River Valley project is a 50/50 joint venture between PFN and the
world’s largest PGM producer, Anglo Platinum Limited. Anglo Platinum
can increase its ownership interest to 60% by completing a positive
feasibility study, and to 65% by advancing the project through to
production. To date, Anglo Platinum has expended approximately $22.5
million on the project. A 43-101-compliant resource estimate by Geosim
Services Inc. (see PFN press release dated March 27 2006) outlined
measured and indicated resources of 30.5 million tonnes grading 0.06
grams per tonne (g/t) gold, 0.34 g/t platinum and 0.97 g/t palladium,
and inferred resources of 2.39 million tonnes grading 0.05 g/t gold
0.31 g/t platinum and 0.87 g/t palladium. The resource estimates used a
cut-off grade of 0.7 g/t (platinum+palladium). The other four PGM
(osmium, iridium, ruthenium and rhodium) were not included in any of
the resource calculations due to insufficient assay data. 

About the Destiny Gold Project

The Destiny Project is under option from Alto Ventures Ltd. Under the
terms of the option agreement, PFN can earn a 60% interest in the
property over a four year period by completing $3.5 million in
exploration expenditures, paying $200,000 and providing a total of
250,000 PFN shares to Alto. The property is located approximately 100
km by road north of the city of Val-d’Or. Drilling conducted by the
Companies in 2009-2010 revealed a massive sulphide mineralized zone
adjacent to the gold mineralization (see news releases dated February 18 and April 12, 2010). Drill hole DES10-137 returned 0.73 Cu, 6.4% Zn, 0.3 g/t Au and 18 g/t
Ag over a one metre interval. Previous hole DES06-94 returned 5.79% Cu,
3.42% Zn, 1.21 g/t Au and 118.0 g/t Ag over a 0.7 m interval. A
$350,000 2010 exploration program is currently underway and will focus
primarily on high resolution airborne magnetic surveys, borehole
electromagnetic surveying and drilling.

About the Rock and Roll Polymetallic Project

The Rock & Roll Property hosts precious metals rich, volcanogenic
massive sulphide (VMS) mineralization in a volcano-sedimentary host
rock package of Triassic age. As such, the mineralization shows
similarities to the gold and silver rich mineralization of Barrick
Gold’s past producing Eskay Creek mine (reserves at Eskay Creek as of
January 1, 1999 were estimated at 1,355,965 tonnes grading 57.7 grams
per tonne (g/t) gold and 2492.57 g/t silver; Government of BC, MINFILE
No 104B 008).  A $150,000, 2010 exploration program is currently
underway and is focusing primarily on re-sampling previous drill core,
and geological mapping / prospecting that will investigate airborne
geophysical survey conductors, and geological and geochemical targets.

Ongoing Aggressive Acquisition Program

The Company is well funded and is currently looking to acquire advanced
stage, Platinum Group Metals, Gold and base metal projects on an
international scale.

On behalf of the Board of Directors

(signed)

Harry Barr

President & C.E.O.

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.

SOURCE Pacific North West Capital Corp.