======================================================================= Re: News Releases - Monday, January 24, 2011 Updated NI43-101 Mineral Resource Estimate Reports Significant Increase in Contained Ounces of Gold for the Destiny Gold Project near Val-dOr, Qu�bec ======================================================================= - Indicated Resource contains approximately 364,000 ounces gold - Inferred Resource contains approximately 247,000 ounces gold - DAC Deposit occurs at surface and is open in both strike and dip - Awaiting assay results from the Phase 3 drilling program Pacific North West Capital Corp.

("PFN") TSX: PFN; OTCBB: PAWEF; Frankfurt: P7J and Alto Ventures Ltd.

("ATV") TSX-V: ATV (together "the Companies") are pleased to announce receipt of a draft of an NI43-101 Technical Report (the Report) including a new Mineral Resource Estimate for the DAC Gold Deposit on the Destiny Project located near Val dOr, Quebec.

The Report was prepared by Wardrop, a Tetra Tech Company (Wardrop) and incorporates over 7,600 m of additional drilling that was completed on the deposit subsequent to an earlier NI43-101 compliant resource estimate calculated by W.

A.

Hubacheck Consultants Ltd and filed on SEDAR in 2007. Indicated and Inferred resources have been determined for the DAC Deposit.

The deposit is made up of narrow high grade gold-bearing quartz veins occurring within five parallel alteration zones (Figures 1 and 2).

These alteration zones carry gold at lower grades than the quartz veins but are significantly wider.

The Wardrop report indicates that the additional drilling has expanded the DAC Deposit and significantly increased the contained ounces of gold.

"We have far exceeded our objectives for this project over the past year.

Our initial goal was to double the previous resource on the DAC deposit and now we see the potential for something much bigger." Harry Barr, President and CEO of PFN. At a cut-off grade of 0.5 g/t gold and using the Inverse Distance Squared (ID2) estimation method, the five gold zones contain an Indicated Resource of about 10.8 million tonnes with an average grade of 1.05 g/t gold (364,000 contained ounces).

In addition, the Inferred Resource totals 8.3 million tonnes with an average grade of 0.92 g/t gold (247,000 contained ounces).

Table 1 summarises the Resource Estimate at the 0.5 g/t cut-off. A cut off grade of 0.5 g/t gold was selected to tabulate the total resources based on the results of similar gold projects located in Ontario and Quebec.

In addition, the following parameters were considered; 4:1 stripping ratio, operating costs of $14.30/tonne at 10,000 tonnes per day, long term gold price of $US973/troy ounce, $US to $Cdn conversion of 1.02 and gold recovery of 94%.

The resources block considers the mineralization to start at approximately 15 m below surface down to a depth of 400m for the deepest zone (Zone 5). Mineral Resources are not Mineral Reserves and by definition do not demonstrate economic viability. Resource Classification and Description Block Model Several factors were considered in the definition of a resource classification including: National Instrument 43-101 requirements, Canadian Institute of Mining, Metallurgy and Petroleum guidelines, the report authors experience with Archean and Proterozoic gold deposits, and spatial continuity based on variography of the assays within the drill holes. Individual block models were established in Datamine for all five zones using one parent model as the origin.

Drill hole spacing varies, with the majority of the drilling tightly spaced at 25 m.

A block size of 5 x 2x 5 m was selected in order to accommodate the more closely spaced drilling and the narrow nature of the mineralization.

Sub-celling of the block model was used to allow the parent block to be split once in each direction to more accurately fill the volume of the wireframes, thus more accurately estimate the tonnes in the resource. The interpolations of the five zones were completed using the Inverse Distance Squared (ID2) estimation method.

The global block model statistics for the ID2 model were compared to the Nearest Neighbour (NM) model and the Ordinary Kriging (OK) model.

In general there is agreement between the three models and larger discrepancies were reflected as a result of lower drill density in some portions of the model.

A copy of the final Report will be filed on SEDAR within 45 days of the date of this news release. Figure 1 & 2, Table 1 & 2 can be viewed at the following hyperlink: http://www.pfncapital.com/s/NewsReleases.asp?ReportID=439125 Table 1- DAC Resource Estimation Summary (using ID2 method) Table 2- Cut-off Sensitivities for the DAC Deposit Resource Estimate Figure 1- Cross Section comparison of block model grades with composite grades for the five gold zones making up the DAC Deposit Figure 2 - Plan View comparison of block model grades with composite grades for the five gold zones making up the DAC Deposit. Qualified Person Statement Todd McCracken, P.Geo, is a Qualified Person ("QP") for purposes of NI 43-101.

He is responsible for preparing the Report and the Resource Estimate disclosed in the Report.

Mr McCracken is an employee of Wardrop, and independent from the Companies as described in section 1.4 of NI 43-101.

He has read and approved the technical disclosure in this press release.

About the Destiny Gold Project 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 property consists of 177 claims totalling 7,421 ha and is located approximately 100 km by road north of the city of Val-dOr.

The property is accessible by provincial highway 397 which passes through the property. Pacific North West Capital has fulfilled its obligations for the first two years of the option term as outlined in the agreement. About Alto Ventures Ltd Alto Ventures Ltd.

is an exploration and development company with a portfolio of highly prospective Canadian gold properties.

The Company is active in Quebec in the Abitibi greenstone belt where it has a number of projects including the Alcudia and Destiny gold properties. In Ontario, the Company is exploring in the Beardmore-Geraldton gold belt and the Coldstream project in the Shebandowan gold district.

In the Chilcoten Plateau of British Columbia, the Company is exploring the Chilko project nearby the Newton gold deposit.

For more details regarding the Companys projects, please visit http://www.altoventures.com.

About Pacific North West Capital Corp: Pacific North West Capital Corp.

is a mineral exploration company focused on Platinum Group Metals (PGM), precious and base metals. Managements corporate philosophy is to be a project generator, explorer and project operator with the objective of option/joint venturing projects with major and junior mining companies through to production.

To that end, Pacific North West Capitals current option/joint ventures agreements are with Anglo Platinum, First Nickel, Alto Ventures.

In addition, Pacific North West Capital is a major shareholder of Fire River Gold Corp.

http://www.firerivergold.com Pacific North West Capital is a member of the International Metals Group of Companies.

http://www.internationalmetalsgroup.com. On behalf of the Board of Directors, "Harry Barr" Harry Barr, President & CEO
For further information, please contact our Investor Relations Department at Toll Free 1-800-667-1870 The Toronto Stock Exchange have 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 Companys expectations are disclosed in the Companys documents filed from time to time with The Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.

Not to be construed as an offer to buy or sell securities of this company. ======================================================================= Copyright (c) 2011 PACIFIC NORTH WEST CAPITAL CORP.

(TSX:PFN - OTCBB:PAWEF) All rights reserved.

For more information visit our website at http://www.pfncapital.com/ or send mailto: Message sent on Mon Jan 24, 2011 at 5:46:20 AM Pacific Time =======================================================================