PennyStockPayCheck.com Rss

Featured Posts

Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

Read more

Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

Read more

Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

Read more

Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

Read more

UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

Read more

Pacific North West Capital Corp. (PAWEF: OTC Link/FINRA BB) | Pacific North West Capital Corp. Options Glitter Lake Property, Quebec

Category : World News

May 2, 2012, Vancouver, BC — Pacific North West Capital Corp. (“PFN” or the “Company”) (TSX: “PFN”; OTCQX: PAWEF; Frankfurt: P7J) is pleased to announce that it has entered into an agreement with El Condor Minerals Inc. (“El Condor”) (TSX.V: LCO) to which El Condor has the option to earn a 100% interest in the Glitter Lake Property in the James Bay lowlands region of Quebec.

El Condor can earn a 100% interest in the Property by paying an initial $50,000 and issuing 350,000 common shares to PFN upon regulatory approval of the Agreement, by making additional cash payments totaling $100,000 and issuing an additional 650,000 common shares of El Condor to the Company on or before the second anniversary of the Agreement, and by maintaining the Glitter Lake Claims in good standing for the 2-year term of the Agreement. A 2% net smelter return royalty has been granted to the Company, of which 1% may be purchased by El Condor for $1,000,000. The Property is also subject to a pre-existing aggregate 2% royalty payable to various royalty holders. The Agreement is subject to regulatory approval.

About Pacific North West Capital Corp:

PFN is a mineral exploration company whose philosophy is to be a project generator, explorer and project operator in order to option/joint venture its projects through to production. PFN is focused on the discovery, exploration and development of PGM and nickel-copper sulphide deposits in geologically prospective regions in North America, particularly Canada. The Company’s key asset is its 100% owned River Valley PGM Project in the Sudbury region of northern Ontario. PFN also has PGM and nickel-copper projects and properties in northwest Ontario, Quebec, Saskatchewan, and Alaska, and an option to joint venture a base metal project in northwestern BC’s Golden Triangle region. The Company continues to evaluate PGM and nickel-copper properties and projects in North America for potential acquisition opportunities.

On behalf of the Board of Directors

“Harry Barr”

Harry Barr
Chairman and CEO

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.

Read more from the original source: Pacific North West Capital Corp. (PAWEF: OTC Link/FINRA BB) | Pacific North West Capital Corp. Options Glitter Lake Property, Quebec

Penny Stock Picks

Post to Twitter

Post a comment