Vancouver, BC – Nikos Explorations Ltd. (the “Company”) announces that it has completed the debt settlement referred to in its news release dated January 14, 2004. The Company settled debts aggregating $174,606.86 by issuing 1,746,068 shares to the creditors at a deemed price of $0.10 per share. The shares issued on the settlement on the debts are subject to a four month hold period expiring August 22, 2004.

ON BEHALF OF THE BOARD OF DIRECTORS OF
NIKOS EXPLORATIONS LTD.

“Peter Dunfield”
Peter Dunfield,
President and Director

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