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PFN ACQUIRES STRATEGIC & ADJACENT PGM PROJECT, NEAR SUDBURY, ONTARIO'S RIVER VALLEY, ADDING 4km TO CORE PGM PROJECT

• PFN's property acquisition increases strike length of mineralization from 12 km to 16 km

• Mineralized drill core, surface grab samples and historic showings

• Surface grab samples grading up to 10 g/t Platinum Group Metals (PGM)

• Drill core samples grading up to 2.2 g/t PGM over 4.5m from 60.5m downhole

• PFN's property position at River Valley increased to a total of 64 km2 or 16,000 acres

• Summer Surface Exploration Program underway to guide planned Fall Drill Program

• PFN's River Valley Project is Canada's Largest Undeveloped Primary Platinum Group Metal Project, with 2.5 Moz PGM, in near-surface Measured and Indicated Resources, within 100 km of Sudbury

• Excellent Infrastructure Support, with Year-Round Road Access and nearby Rail, Power and Communities and 100 km from Sudbury Metallurgical Complex

• New 100% owned Lithium Division, with Pegmatite Projects in Manitoba and Brine Projects in Nevada and Summer/Fall Exploration Programs In Progress

August 4th, 2016 Vancouver, BC, Canada - Pacific North West Capital Corp. ("PFN", the "Company") (TSXV: PFN; OTCQB: PAWEF; FSE: P7J; announces that it has signed an agreement with Mustang Minerals Corp. (TSXV: MUM) to acquire 100% interest in 6, Strategic, Mineralized Claims, of Mustang's River Valley Platinum Group Metal (PGM) property, near Sudbury, Ontario (Figure 1). The River Valley PGM Extension Claims are adjacent to, and south of, PFN's current River Valley PGM Project mining leases. The acquisition increases the size of PFN's project footprint to more than 64 km2 (16,000 acres), mainly on the highly PGM mineralized River Valley Intrusion. The six acquired claims overlay a 4 km long PGM mineralized trend, which is

the southward continuation of the River Valley PGM Deposit, on PFN's mining leases to the north. With the acquisition, the total strike length of the River Valley PGM Deposit increases to 16 km, on PFN's property. Mustang's work on the property included Mapping, Prospecting, Geophysical Surveys and Diamond Drilling. Surface grab samples returned assays of up to 10 g/t PGM. A total of 57 diamond holes were drilled, for more than 16,000m. Highlights of the drilling include: 1.42 g/t PGM over 9.0m in hole MR02-59, 4.0 g/t PGM over 2.1m in hole MR02-62, and 2.2 g/t PGM over 4.5m in hole MR02-64. The Main Mineralized Zone remains open at depth. Ground Geophysical Survey Results and Structural Geology Interpretation of the property, reveal Priority Exploration Targets, in under-explored areas, which resemble the high-grade T2 Discovery and other similar targets on the adjacent PFN mining leases (Figures 2 & 3) (see PFN press release dated March 11, 2015).

The recently announced Surface Exploration Program for PFN's River Valley PGM Project (see PFN press release dated June 15th, 2016), will be expanded to cover the newly acquired claims from Mustang Minerals Corp.

The six claims were acquired from Mustang Minerals Corp., for $50,000 cash and shares of PFN. The shares are subject to a regulatory hold of 4 months and 1 day, and TSX Venture Exchange approval of the Transaction. Mustang Minerals Corp. retains a 1% Net Smelter Return (NSR) on any production from the six claims. The NSR can be purchased by PFN at any time for

$500,000. The six claims were acquired from Mustang Minerals Corp. for $50,000 cash and shares of PFN.

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River Valley PGM Deposit

PFN's River Valley PGM Project

Mining Leases

Newly Acquired Property

River Valley PGM Extension

River Valley Intrusion

Figure 1: Geological map showing the location of the PGM exploration property acquired from Mustang Minerals Corp. The acquired property is south and adjacent to PFN's Mining Leases, covering the River Valley PGM Project. The acquisition increases the strike length of the PGM deposit, to 16 km, 64 km2, or 16,000 acres, on PFN property.

Azen-Spade Zone

Figure 2: River Valley location (inset) and Property Geology Maps, showing the position of the Target T2 Discovery, at the north end of the PGM Deposit, between the Dana North Zone to the east and the Pardo Zone to the north. Note location of the Spade Zone, discovered in 2012 but never followed up.

Figure 3: Map showing location of three T2-like Drill Targets, at the north end of the River Valley PGM Deposit, on PFN's Mining Leases.

About PFN's Platinum Group Metals Division

River Valley is Canada's Largest Undeveloped Primary PGM Deposit.

Achievements to date and Future Plans for River Valley are outlined below as follows:

1. PFN currently has 100% ownership in the River Valley Project, subject to a 3% NSR, with Options to Buy Down

2. Completed Exploration and Development Programs, on the River Valley Property:

   Include more than 600 holes drilled, since year 2000, and several Mineral Resource Estimates and Metallurgical Studies;

3. Results for the current (2012) Mineral Resource Estimate are below;

4. 2015 Drill Program confirms New High Grade T2 Discovery

5. Exploration and Development Plans outlined for 2016

6. Ongoing Strategic Partner Search for River Valley Project

7. Results for the most recent Mineral Resource Estimate are summarized below:

   • Prepared by Tetra Tech (Wardrop)

   • High Confidence: Measured plus Indicated = 72% of total

   • Reported on PdEq basis: Pd=40% & Pt=20% of the payable metals

   • Pd to Pt ratio = 2.5:1; Cu to Ni ratio = 3:1

   • High Grade Potential: particularly in the north part of River Valley Deposit

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