NIK

Nikos Explorations Ltd. (TSX VENTURE:NIK) ("Nikos" or the "Company") announced
today its intention to complete a non-brokered private placement offering (the
"Private Placement") of one million units ("Units") at a price of $0.10 per
Unit, with each Unit consisting of one share of the Company ("Share") and one
warrant ("Warrant") entitling the holder thereof to purchase one additional
Share at a price of $0.15 for a period of 24 months.


Nikos President Roger Moss comments, "The continued success of Probe Mines'
Borden Lake exploration has demonstrated the gold discovery potential of the
Kapuskasing Structural Zone. Nikos' Borden Lake Extension project is well
located to the southeast of Probe's discovery and along the western extension of
the Ridout shear zone that hosts the Cote Gold Project of IAMGOLD." 


The Private Placement is subject to regulatory approval, including approval of
the TSX Venture Exchange. For further details, please contact the Company. All
securities issued in connection with the Private Placement will be subject to a
hold period of four months from the date of closing. The net proceeds from the
Private Placement will be used to finance the Company's continuing Borden Lake
area exploration program and for general working capital purposes.


The securities offered pursuant to the Private Placement have not been and will
not be registered under the U.S. Securities Act of 1933, as amended, or
applicable state securities laws, and may be not be offered or sold in the
United States absent registration or an exemption from such registration
requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful.


About Borden Lake Extension:

The Borden Lake Extension Project lies approximately 5 kilometres southeast of
Probe Mines' Borden Lake gold discovery where recent exploration has defined pit
constrained indicated resources of 3,686,000 ounces of gold (112,844 M tonnes
grading 1.02g/t gold) and inferred resources of 625,000 ounces of gold (18,036 M
tonnes grading 1.08g/t gold) at a 0.5g/t cut-off grade. Exploration carried out
by Nikos is the first known work on the property, which is located in the
Kapuskasing Structural Zone. Nikos holds an option to earn a 100% interest in
the property. Note that mineralization on the Probe Mines property may not be
representative of mineralization that may be found on the Nikos Property, nor is
there any guarantee that economic mineralization will be identified on the Nikos
Property.


About Nikos Explorations:

Nikos Explorations is a Canadian based mineral exploration company focused on
the acquisition and exploration of prospective gold projects in the Americas.
The company has 10,665,081 shares issued and outstanding and trades on the TSX
Venture Exchange under the symbol NIK.


Roger Moss, PhD., P. Geo., is the qualified person for all technical information
in this release.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Nikos Explorations Ltd.
Roger Moss
President
416-516-6050
www.nikosexplorations.com

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