Pacific North West Capital Corp. Closes $3,000,000 Non-Brokered Private Placement

VANCOUVER, March 15 /CNW/ --
TSX: PFN OTCQX: PAWEF Frankfurt: P7J

VANCOUVER, March 15 /CNW/ - Pacific North West Capital Corp. (TSX: PFN) (OTCQX: PAWEF) (FSE: P7J) (the 'Company') is pleased to announce that it has closed a
non-brokered private placement, announced in its February 21, 2011 news
release, for gross proceeds of $3,000,000.

The Company placed 9,248,333 Non-Flow-Through Units at $0.30 per unit,
with each unit consisting of one fully paid and non-assessable common
share in the capital of the Company and one-half of one
non-transferable share purchase warrant, each whole warrant entitling
the holder thereof to purchase one additional common share of the
Company for one year at an exercise price of $0.35.

A total of 644,286 Flow-Through Units ('FT Unit') at $0.35 cents per
unit were also placed. Each FT Unit consists of one fully paid and
non-assessable common share in the capital of the Company and one-half
of one non-transferable share purchase warrant, each whole warrant
entitling the holder thereof to purchase one additional
non-flow-through common share of the Company at $0.45 for a period of
one year.

All common shares issued in connection with the units are subject to
regulatory hold periods expiring July 16, 2011. In connection with the
closing of the financing, the Company has paid finder's fees of $24,775
in cash. The foregoing is subject to final regulatory approval.

The proceeds from the private placement will be used for the further
development of the River Valley PGM Project located in the Sudbury
region of Ontario (see news release dated January 31, 2011); the
Destiny Gold Project, located approximately 75 km north of Val d'Or in
the Abitibi-Témiscamingue region, Québec (see news release dated
January 24, 2011); and the Rock and Roll project located in the Liard
Mining District approximately 9 km west of the Bronson airstrip and
exploration camp in northern British Columbia (see press release dated
October 27, 2010).

The project hosts precious metals rich, volcanogenic massive sulphide
mineralization in a volcano-sedimentary host rock package. The
mineralization shows similarities to the gold and silver rich
mineralization of Barrick Gold's past producing Eskay Creek mine.

Part of the proceeds from the financing will also be used for the
advancement of the additional projects that the Company currently holds
in its portfolio situated in Québec, Ontario, Saskatchewan and Alaska,
and for the acquisition of additional platinum group metals, precious
metals and base metals projects in Canada, the United States and
Africa.

About Pacific North West Capital Corp.

Pacific North West Capital Corp. (TSX: PFN; OTCQX: PAWEF; FSE: P7J) is a
mineral exploration company whose corporate philosophy is to be a
project generator, explorer and project operator with the objective of
option / joint venturing its projects through to production. The River
Valley PGM project is one of North America's newest and largest primary
platinum group metals (PGM) deposits. The project located in the
Sudbury region of Ontario.

On March 1, 2011, PFN announced the 2011 exploration program for its
100% owned River Valley PGM  Project located near Sudbury, Ontario.
Work to date at River Valley suggest that the best potential for
economic accumulations of PGM-Cu-Ni sulphide mineralization is within
the Breccia Zone. This Zone includes the main mineralized breccia or
Main Zone. The Main Zone occurs within about 20 m of the intrusive
contact with Archean gneisses. This contact zone extends for over 9 km of prospective strike length,
holds the current defined resource and is the main target of the
Company's renewed exploration efforts. Drilling and geophysical surveys
are planned to commence in the spring 2011.

On January 2011, PFN and Anglo Platinum were able to come to terms
whereby PFN could acquire Anglo Platinum's 50% stake in the River
Valley JV giving PFN 100% of the River Valley PGM project by offering
12% of its current outstanding shares to Anglo Platinum. This would
enable PFN to seek additional funding for the project while Anglo
Platinum could benefit from any future success of the project through
its share ownership in PFN.

On January 31, 2011, Pacific North West Capital successfully negotiated
the 100% acquisition of the River Valley PGM Project from Anglo
Platinum Limited, making Anglo Platinum the largest shareholder of PFN holding
approximately 12% of the Company (see news release dated January 31, 2011).

On January 24, 2011, PFN announced a new NI43-101 mineral resource
estimate on the Destiny Gold Project which is situated 75 km near
Val-d'Or, Québec (see news release dated January 24, 2011). 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 Company is also advancing a polymetallic project in
the Iskut River region of British Columbia. PFN is also a significant
shareholder of Fire River Gold Corp (FAU:TSX.V) which company is developing the Nixon Fork Gold Mine in Alaska, which is slated for production in summer of 2011.

Pacific North West Capital Corp. is well funded with an experienced
Management team and the ability to take advantage of its growing assets
based in Platinum Group Metals, gold and base metals. To that end, the
Company is in the process of adding key technical and financial people
to our management, advisory team and our board of directors. PFN has
approximately $9.1 million in working capital and securities.

Pacific North West Capital Corp. is a member of the International Metals
Group of Companies (www.internationalmetalsgroup.com).

On behalf of the Board of Directors

'Harry Barr'

Harry Barr


President and CEO

The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release

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.

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