PACIFIC NORTH WEST CAPITAL ANNOUNCES ASSAYS, UP TO 4.33% LITHIUM OXIDE ON THE LITHIUM ONE PROJECT, SOUTHEAST MANITOBA

  • Samples from the Silverleaf Pegmatite yielded assays up to 4.33% Li2O, 2.08% Rb2O and 0.04% Ta2O5
  • Numerous other Pegmatites and Pegmatitic Granite sites sampled
  • Drilling slated for early 2017

December 8, 2016 Vancouver, British Columbia — Pacific North West Capital Corp. (“PFN”) (TSXV: PFN OTCQB: PAWEF FSE: P7J) is pleased to announce that its 100% owned subsidiary, Lithium Canada Developments, has received the assay results of its Phase One Exploration Review of the Lithium One Project.

The Lithium One Project (April 21st, 2016 News Release) is located 125 kilometres northeast of Winnipeg, Manitoba, in the Cat Lake-Winnipeg River Pegmatite Field. This Pegmatite Field is host to the world-class Tanco Pegmatite, which has been mined since 1969. Historically, the project area is known for the presence of numerous surface Pegmatites, of various dimensions and compositions.

The Company carried out a Phase One Exploration Program, whereby several of the known Lithium-bearing Pegmatite were prospected and sampled, including the Greer Lake Pegmatitic Granite. The purpose of the exploration program was to obtain modern-day assay analyses of the Pegmatites and to ground proof the historic Pegmatite locations. Numerous Pegmatites and Pegmatite swarms were not sampled, due to access difficulties and will be prospected at a later time.

The Silverleaf Pegmatite is a zoned complex Lithium-bearing Pegmatite, with a surface exposure of approximately 80 metres x 45 metres. It was the largest Pegmatite reviewed. Samples taken from the Lepidolite-Spodumene Zone yielded assays from 1.30% to 2.43% Li2O, 0.15% to 2.08% Rb2O and 104 ppm to 447 ppm Ta2O5. This zone is approximately 50 metres x 20 metres in size and extends into a historic excavated open pit. The open pit originates from the late 1920s, when a bulk sample of Spodumene was mined from the southwest side of the Silverleaf Pegmatite. Large scale mining operations were not undertaken at the time, due to changes in the market conditions and commodity prices. A sample from the historically mined Spodumene rock pile returned values up to 4.33% Li2O.

Figure 1: Lithium One Project Location Map

The Annie Pegmatite is exposed on surface, for an approximate area of 15 metres x 90 metres. Samples returned assays of 0.10% to 0.64% Li2O and 0.21% to 0.81% Rb2O. Other Pegmatites returned elevated levels of Lithium. Due to the zoned nature of some of the Pegmatites, additional Lithium-rich zones may exist, but are not exposed on surface. It is recommended that a Program of Mapping and Sampling be carried-out, over the southern margin of the Greer Lake Pegmatite Granite, during the 2017 summer field season, in addition to mapping and prospecting the Pegmatites that were not examined, this field season. A Drill Program of 3000 metres is proposed for 2017, in order to test several of the surface exposed Pegmatites.

Figure 2: Lithium One Project Pegmatite Map

Table 1: Pegmatite Field Assays — Lithium One Project

To date, the Company has approximately 6,318 hectares (15,612 acres) of mineral claims, with Lithium Mineral Potential, in the Cat Lake-Winnipeg River Pegmatite Field, of SE Manitoba. PFN is the Largest Mineral Claim Holder, in the Pegmatite Field. As part of the Company’s Prospector Generator Model, negotiations are currently ongoing, with interested 3rd parties, for possible Option/Joint Ventures and other Exploration Initiatives.

PEGMATITE SAMPLE PROCEDURES

The Pegmatite samples were sent to the Activation Laboratories facility, in Ancaster, Ontario for analysis. Samples were prepared, using the lab’s Code RX1 procedure. Samples are crushed, up to 95% passing through a 10 mesh, riffle split, and then pulverized, with mild steel, to 95%, passing 105 μm. Analyses were completed, using the lab’s Ultratrace 7 Package; a Sodium Peroxide fusion which allows for total metal recovery and is effective for analysis of Sulphides and refractory minerals. Assay Analyses are carried out, using ICP‐OES and ICP‐MS instrumentation. Due to the reconnaissance and prospecting nature of the Phase One Program, independent standards, or blanks, were not submitted with the samples. However, Activation Laboratories followed their own internal QA/QC procedures. It is recommended that for future detailed mapping/sampling programs and for drilling, a full QA/QC program of standards, duplicates and blanks be implemented.

About PFN’s Lithium Division

PFN’s flagship project is its 100% owned River Valley PGM Project, (PFN Website — River Valley Project) in the Sudbury Mining District of NW Ontario (60 kilometres due east of Sudbury, Ontario). Presently the River Valley Project has Measured + Indicated resources of 91 million tonnes @ 0.58 g/t* Palladium, 0.22 g/t Platinum, 0.04 g/t Gold, at a cut-off grade of 0.8 g/t for a PdEq of 2,463,000 ounces PGM plus Gold. River Valley PGM-Copper-Nickel Sulphide mineralized zones remain open to expansion and are undergoing continued exploration. Results are expected from the Fall Drill Program, in the next few weeks.

QUALIFIED PERSON

The contents contained herein that relate to Exploration Results, or Mineral Resources, is based on information compiled, reviewed, or prepared, by Dr. Bill Stone, Principal Consulting Geoscientist for Pacific North West Capital Corp. Dr. Stone is a Qualified Person, as defined by National Instrument 43-101 and has reviewed and approved the technical content.

On behalf of the Board of Directors

Harry Barr

Harry G. Barr
Chairman and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.