CALGARY, ALBERTA--(Marketwire - Feb. 16, 2011) - Atikwa Resources Inc. ("Atikwa" or the "Company") (News - Market indication) announced that it is undertaking a private placement to raise up to $1,000,000 (the "Offering"). Atikwa intends to privately place up to 15,384,615 Units (each a "Unit") of the Company at a price of $0.065 per Unit. Each Unit will consist of one common share of the Company and one common share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder to acquire one common share at an exercise price of $0.10 for a period of 12 months from closing (the "Expiry Date"). The term of the Warrants is subject to an acceleration clause that can be triggered in the event that the common shares of the Company are traded on the TSX Venture Exchange at a daily volume weighted average price of $0.14 or more for 15 trading days out of any 20 consecutive trading days prior to the Expiry Date. The Warrant will expire on the earlier of the Expiry Date and the date which is 30 calendar days after the Company provides notice to the holders of the Warrants that an acceleration event has occurred, provided that such notice may not be given prior to four months after the Closing.

In connection with the Offering, the Company may pay an agency fee or sales commission of up to 8% of aggregate gross proceeds. Depending on market conditions, the Company reserves the right to expand the Offering for additional gross proceeds of up to $500,000.

The offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities. All securities issued under the Offering will be subject to a four-month hold period.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws and, until, so registered, may not be offered or sold in the United States or any state or to, for the account of, U.S. persons absent registration or an applicable exemption from the registration requirements. This release does not constitute an offer in the United States.

This news release contains forward‐looking statements relating to the Company's plans and other aspects of the Company's anticipated future operations, strategies, financial and operating results and business opportunities. Forward‐looking statements typically use words such as "anticipate", "believe", "project", "expect", "plan", "intent" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future, or consists of statements regarding estimates of future production, operating costs or other expectations, beliefs, plans, objectives, assumptions or statements about future events or performance. Statements regarding reserves are also forward‐looking statements, as they reflect estimates as to the expectation that the deposits can be economically exploited in the future. Although the Company believes that the expectations represented in such forward‐looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. As a consequence, actual results may differ materially from those anticipated in the forward‐looking statements and you should not unduly rely on forward‐looking statements. The forward‐looking statements contained in this news release are made as the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A conversion ratio for gas of 6 mcf: 1 boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.