NIKOS Announces Results of VTEM Survey Over Borden Lake Extension Project, Chapleau, Ontario

Nikos Explorations Ltd. (TSX VENTURE:NIK) ("Nikos") is pleased to announce the
results of the high-resolution VTEM (Versatile Time-Domain Electromagnetic
System) and magnetic airborne survey recently completed over the Borden Lake
Extension by Geotech Ltd. A total of 391 line kilometers were flown to cover the
Property. The VTEM and magnetic surveys were completed in order to identify
electromagnetic and magnetic anomalies that may be associated with gold
mineralization and to help in the geological interpretation of this
underexplored area. 


Results of the surveys indicate electromagnetic and/or magnetic anomalies in
four areas of interest (see map at
http://nikosexplorations.com/projects/borden_lake/) described below in order of
priority for follow up:


1. Several magnetic lineaments, one of which is interpreted to be a fault,
intersect near the boundaries of claims 4260529 and 4260530. Such lineaments can
reflect structures that are known to be important in the transport of gold-rich
fluids. A north-east south-west lineament, apparent on a shaded relief map of
the region, also crosses the Nikos claims in this area giving further reason for
follow up. 


2. Cross cutting NNW-SSE and NE-SW trending positive magnetic anomalies in claim
4259808 may represent major structures. There are also coincident weak
electromagnetic anomalies that could indicate the presence of sulphide.


3. Similar cross-cutting magnetic anomalies and electromagnetic anomalies seven
to eight hundred metres east of 2, but not as strong.


4. This area in the east of the property is characterised by a small positive
magnetic anomaly with a coincident electromagnetic anomaly. 


Nikos is planning a follow up program of mapping, sampling and prospecting to
investigate the cause of the anomalies.


About Borden Lake Extension:

The Borden Lake Extension property lies immediately east of Probe Mines' Borden
Lake gold property 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. 


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 44,475,406 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.


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