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NX

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Share Name Share Symbol Market Type
TSXV:NX TSX Venture Common Stock
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Western Athabasca Syndicate Receives Drill Permits for the Preston Lake Uranium Project in SW Athabasca Basin, Saskatchewan

27/02/2014 11:00am

Marketwired Canada


Noka Resources Inc. (TSX VENTURE:NX)(FRANKFURT:2NK) ("Noka") is pleased to
announce the Western Athabasca Syndicate has received drill permits for its
flagship Preston Lake Uranium Property (the "Property"). The diamond drill
program is slated to commence in the second week of March and will test several
highly prospective targets identified by the extensive 2013-2014 fieldwork. 


The 246,643 hectare Preston Lake Property is the largest land package proximal
to Fission Uranium Corp.'s Patterson Lake South ("PLS") high-grade uranium
discovery, as well as the recent discovery ("Arrow Prospect") made by NexGen
Energy (TSX VENTURE:NXE) on the Rook 1 Project (see NexGen's news release dated
Feb. 19th, 2014). The Syndicate holds title to an extensive and geologically
prospective property package in the southwest Athabasca Basin region including
properties strategically located in all directions around the PLS and NexGen
discoveries.


Preston Lake Property Map and Regional Exploration Corridors:
http://nokaresources.com/images/NX_Regional_Corridors.jpg


Noka and its Syndicate partners are currently carrying out a ground EM survey to
further refine conductor trends and drill pad locations. Additional details of
the upcoming drill program will be provided when drill hole locations are
finalized. To date, the 2013-2014 exploration expenditures on the Property total
approximately $2.1 million and have delineated numerous geological, geophysical
and geochemical targets associated with eight prospective exploration corridors.
The Syndicate continues to employ a systematic, proven exploration methodology
that has led to numerous uranium discoveries in the region and throughout the
Athabasca Basin. This has been very effective in identifying numerous
high-quality targets at Preston with similar geological features and exploratory
indicators as those at the nearby PLS and NexGen discoveries, as well as other
deposits in the Athabasca Basin. 


Preston Lake Property - Gravity Survey Coverage:
http://nokaresources.com/images/NX_Feb2014_Exploration.jpg


The Western Athabasca Syndicate has a booth at the upcoming PDAC Conference in
Toronto from March 2 - 5. The booth number is 2740 and all four companies
comprising the Syndicate will be present. We invite you to stop by to meet
management and get a full update on the progress being made by the Syndicate on
its projects in the Patterson Lake region of the Athabasca Basin.


About the Western Athabasca Syndicate:

The Western Athabasca Syndicate is a strategic partnership formed between
Skyharbour, Athabasca Nuclear, Lucky Strike, and Noka to explore and develop a
287,130 hectare suite of uranium properties that is the largest land position
along the highly prospective margin of the Western Athabasca Basin controlled by
a single group. Under the terms of the agreement, each of the four companies has
an option to earn 25% of the five uranium properties comprising the Western
Athabasca Syndicate Partnership by making a series of cash payments, share
payments, and incurring their pro-rata amount of the total $6,000,000 in
exploration expenditures over the two-year earn-in term of the agreement. The
properties were acquired for their proximity to the PLS discovery and
interpreted favourable geology for the occurrence of PLS style uranium
mineralization. The bulk of the Syndicate land package is bisected by
all-weather Highway 955 which runs north through the PLS discovery on to the
former Cluff Lake uranium mine. 


The Athabasca Basin of Saskatchewan hosts the world's largest and richest
high-grade uranium deposits which have grades substantially higher than the
world average grade of about 0.1% U3O8. The Patterson Lake area has received
escalating exploration attention and claim acquisition activity as a result of
the new, near surface discoveries made by Fission which includes the recently
reported drill interval of 38.49% U3O8 over 10.5 metres in drill hole PLS14-129.
Consistent high-grade, near surface U3O8 assays from Fission demonstrate the
potential for high-grade uranium mineralization on the geologically prospective
yet underexplored margins of the western side of the Athabasca Basin.


Qualified Person:

Athabasca Nuclear Director, Charles C. (Chuck) Downie, P.Geo., is the Qualified
Person as defined by National Instrument 43-101 and has approved the technical
information in this release.


About Noka Resources Inc.:

Noka Resources Inc. is a junior exploration company with a focus on uranium in
the prolific Athabasca Basin, Northern Saskatchewan. Noka's exploration strategy
is focused in relatively underexplored areas of the Athabasca Basin Region,
targeting favourable geology and structure amenable to near surface,
unconformity-style uranium mineralization.


With a total land position of 488,463 hectares, Noka holds one of the largest
geologically prospective land packages in the region through a 100% interest in
the Clearwater (which includes the Carpenter Lake) and Athabasca North group of
properties, as well as a 25% interest in the Western Athabasca Syndicate group
of properties.


For further information, please visit www.nokaresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Nav Dhaliwal, President and CEO

Neither 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.

This release includes certain statements that may be deemed to be
"forward-looking statements". All statements in this release, other than
statements of historical facts, that address events or developments that
management of the Company expects, are forward-looking statements. Although
management believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance, and actual results or developments may differ
materially from those in the forward-looking statements. The Company undertakes
no obligation to update these forward-looking statements if management's
beliefs, estimates or opinions, or other factors, should change. Factors that
could cause actual results to differ materially from those in forward-looking
statements, include market prices, exploration and development successes,
continued availability of capital and financing, and general economic, market or
business conditions. Please see the public filings of the Company at
www.sedar.com for further information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Noka Resources Inc.
Nav Dhaliwal
President and CEO
(604) 678-5308
(604) 678-5309 (FAX)
nav@nokaresources.com
www.nokaresources.com

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