|By Marketwired .||
|February 28, 2014 05:00 PM EST|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/28/14 -- Nikos Explorations Ltd. (TSX VENTURE:NIK) ("Nikos" or the "Company") is pleased to announce that the Company's board of directors has approved the grant of 750,000 stock options to the Company's directors and officers pursuant to the Company's Stock Option Plan. The options are exercisable at $0.05 per share, and if not exercised, expire February 27, 2019, subject to earlier expiration in accordance with the Stock Option Plan and the applicable policies of the TSX Venture Exchange.
About Borden Lake Extension:
The Borden Lake Extension Project 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. 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 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.
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.
Nikos Explorations Ltd.