Vancouver, BC – Nikos Explorations Ltd. (the “Company”) is pleased to announce that it has completed the private placement and property transactions referred to in its news release dated January 14, 2004. The Company issued:

• 5,000,000 units at $0.10, each unit consisting of one share and one warrant exercisable at $0.20 for two years and 200,000 common shares (as a finder’s fee) on the private placement;
  
  
• 5,000,000 common shares to Amerigo Resources Ltd. regarding the property transactions;
  
  
• 150,000 units comprised of one common share of the Company and one common share purchase warrant, where each warrant entitles the holder to purchase one additional common share in the capital of the Company for a price of $0.30 for a period of two years to Falconbridge Limited regarding the Island Copper Property; and
  
  
• 300,000 units comprised of one common share of the Company and one-half share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share of the Company for a price of $0.30 for a period of two years to the Batchawana Group regarding the Coppercorp Property.

The shares issued on the private placement and property transactions are subject to a four month hold period expiring September 27, 2004.

The Exchange has provided their final acceptance of the above-noted transactions and the Company has graduated to a Tier 2 issuer and will trade under the symbol “NIK” effective June 4, 2004.

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

“Peter Dunfield”
Peter Dunfield,
Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.