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NIKOS Acquires Option to Purchase Borden Lake Extension Project, Chapleau, Ontario
Published : December 19, 2012
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Keywords :   Copper | Gold | Market |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2012) - Nikos Explorations Ltd. (News - Market indicators) ("Nikos") is pleased to announce that it has entered into an option agreement to earn a 100% interest in the Borden Lake Extension Property located near Chapleau Ontario, subject to regulatory approval. The agreement is subject to the approval of the TSX Venture Exchange.

The 1,598 hectare property lies immediately east of Probe Mines' Borden Lake gold project where recent exploration has defined pit constrained indicated resources of 2,735,000 ounces of gold (81.9 M tonnes grading 1.04g/t gold) and inferred resources of 683,000 ounces of gold (22.9 M tonnes grading 0.93g/t gold) at a 0.6g/t cutoff grade. 

Nikos may earn a 100% undivided interest in the property by making an initial payment of $3,000 and issuing 250,000 common shares of Nikos upon regulatory approval of the transaction, and then funding exploration expenditures of $340,000, making further cash payments of $97,000 and issuing an additional 750,000 shares over the three year period of the agreement. The vendors retain a 2% royalty, half of which may be bought back by Nikos for $1 million at any time.

Nikos intends to contract a high-resolution VTEM airborne survey over the property early in 2013 in order to identify electromagnetic anomalies that may be associated with gold mineralization and to help in the geological interpretation of this underexplored area.

About Nikos Explorations:

Nikos Explorations is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective copper and gold projects in the Americas. The company has 44,225,406 shares issued and outstanding and trades on the TSX Venture Exchange under the symbol NIK.

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.
Roger Moss

Nikos Explorations Ltd.

ISIN : CA6539212051
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Nikos Expl. is an exploration silver and gold company based in Canada.

Nikos Expl. holds various exploration projects in Canada and in Nicaragua.

Its main exploration properties are ISLAND COPPER and COPPERCORP in Canada and NICARAGUA GOLD in Nicaragua.

Nikos Expl. is listed in Canada. Its market capitalisation is CA$ 1.2 millions as of today (US$ 868 805, € 798 605).

Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.01, and its highest recent level on April 21, 2011 at CA$ 0.50.

Nikos Expl. has 17 880 000 shares outstanding.

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Financings of Nikos Explorations Ltd.
1/21/2015Announces Private Placement
4/18/2011Announces Termination of Letter of Intent and Private Placem...
3/23/2011Enters Letter of Intent to Acquire Nicaraguan Gold Propertie...
Project news of Nikos Explorations Ltd.
3/23/2011(Nicaragua Gold)Enters Letter of Intent to Acquire Nicaraguan Gold Propertie...
5/24/2005(Island Copper)Update on Island Copper copper-gold Project
Corporate news of Nikos Explorations Ltd.
7/18/2016NIKOS Announces Positive Results of Geochemical and Geophysi...
6/8/2016Nikos Closes Second Tranche Of Private Placement
5/30/2016Nikos Announces First Tranche Closing
5/16/2016Nikos Announces Private Placement Financing
4/29/2016Nikos Stakes Additional Claims Increases Area Of Borden Lake...
4/28/2016Nikos Stakes Additional Claims Increases Area of Borden Lake...
3/29/2016Nikos Reports Visible Gold In Till From Borden Lake Extensio...
1/6/2016U.S. stocks plunge as oil, North Korea cause worry
1/4/2016NIKOS Announces Private Placement Financing
12/19/2015NIKOS announces signing of memorandum of understanding with ...
11/26/2014NIKOS announces positive results of VLF survey and staking o...
5/22/2014NIKOS Announces Positive Results of Test VLF Survey and Opti...
9/23/2013Announces Positive Results of Soil Gas Hydrocarbon Survey at...
5/28/2013Announces Results of VTEM Survey Over Borden Lake Extension ...
3/4/2013completes VTEM survey over Borden Lake Extension Project, Ch...
12/19/2012Acquires Option to Purchase Borden Lake Extension Project, C...
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