Nikos Announces Termination of Letter of Intent and Private Placement

   Nikos Explorations Ltd. ("Nikos" or the "Company") (TSX VENTURE: NIK) announces that, further to its news release dated March 22, 2011 announcing the entering of the letter of intent (the "LOI") with Sirocco Advisory Services Ltd. and JAT Metconsult Ltd. to acquire all of the issued and outstanding shares of Fortress de Nicaragua S.A. ("Fortress"), the parties have entered into a termination and release agreement to terminate the LOI and their respective obligations thereunder. No securities of the Company were issued and no cash was paid by the Company in connection with the LOI or its termination.

Company Profile

Nikos Explorations Ltd. is an exploration company focused on the acquisition, exploration and development of copper-gold projects.

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.

Contacts: Nikos Explorations Ltd. Roger Moss President 416-516-6050 www.nikosexplorations.com