Pacific North West Capital Corp. Forms New Lithium Division - Lithium Canada Inc.
April 14, 2016 / TheNewswire / Vancouver, Canada - Pacific North West Capital Corp. ("PFN", the "Company" and "Lithium Canada Inc.") (TSX.V: PFN; Frankfurt: P7J.F; OTCQX: PAWEF announces that it has formed a wholly owned subsidiary called Lithium Canada Inc.
The directors and management of PFN have decided to add an additional mineral division to its project portfolio. A new Lithium and Rare Earth Division has been formed. The Company's management believes that adding an additional "green metal" to its existing Platinum group metals (PGM's) division is warranted. These new age metals, Lithium, PGM's and Rare Earths, have robust macro trends with surging demands and limited supply. Going forward, this new division will explore for the minerals needed to fuel the demand for energy storage and other core 21st Century Technologies. This new direction will involve the acquisition of new projects and adding to our existing technical team.
Lithium and Platinum group metal prices have improved dramatically in recent months. Lithium supplies remain in deficit relative to their demand. Both metals groups are used for the expanding worldwide automobile industry (conventional and electric). In the case of PGM's, demand is increasing for autocatalysts, a key component for reducing toxic emissions for automotive, gasoline and diesel engines. In regards to Lithium, there is an ever increasing demand for batteries in cellphones, laptops, electric cars, solar storage, wireless charging and renewable energy products.
Lithium Canada Inc. will focus on the acquisition, exploration and development of Lithium Projects in Canada. In the United States the company will use its wholly owned U.S.A subsidiary to acquire and develop projects in active mining camps in Nevada, Arizona and California.
About Pacific North West Capital Corp.
PFN is a junior company utilizing the Prospector Generator Model and is focused on acquisition, exploration and development of Lithium and Platinum group metal projects in Canada and U.S.A. Its flagship project is the River Valley PGM Project near Sudbury, Ontario (See PFN's press release dated April 6th, 2016 and www.pfncapital.com). River Valley is a primary PGM deposit, like the Lac des Iles and Stillwater Mine deposits of Canada and USA, respectively. This means that the majority of potential payable metal from a possible mining operation at River Valley would be palladium plus platinum rather than nickel plus copper. Primary PGM deposits are rare outside of South Africa and Russia. River Valley is the largest undeveloped primary PGM deposit in Canada. Sudbury is one of the top five nickel-copper-PGM sulphide mining and processing centres globally. Part of our 2016 plan is to partner with a Major mining company, mine finance company or a Private Equity firm to help PFN further develop the River Valley project.
QUALIFIED PERSON
The contents contained herein that relates to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Dr. Bill Stone, Principal Consulting Geoscientist for PFN. Dr. Stone is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content.
Further Information: Tel: +1.604.685.1870 Fax: +1.604.685.8045
Email: info@pfncapital.com, or visit www.pfncapital.com
Suite 101 - 2148 West 38th Ave., Vancouver, BC, V6M 1R9
On behalf of the Board of Directors
Harry 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.
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