Pacific North West Capital Corp. Closes First Tranche Of Private Placement

Pacific North West Capital Corp. announced that further to its news release of October 13, 2011, the Company has completed the first tranche of its non-brokered private placement and has issued an aggregate of 8,075,452 Flow-Through Units (FT Units) at $0.22 per FT Unit for gross proceeds of $1,776,600.00. All securities issued pursuant to this first tranche closing are subject to a Canadian hold period expiring February 27, 2012. The proceeds from this tranche of the private placement will be used to evaluate and continue the exploration drill program at the River Valley PGM Project located in the Sudbury region of Ontario.