Nikos Explorations Ltd. (NIK: TSX-V) announces the second and final batch of results from the stripping and trenching program , completed during November 2004, on the Island Copper Property in Ontario.

Values of 1.53% copper, 0.25 g/tonne gold and 1 g/tonne silver over five metres, including a two metre length grading 2.82% copper, 0.57 g/tonne gold and 1.4 g/tonne Ag were obtained from the Hilltop area. At trench area 1E, approximately 150 metres east of the Hilltop, a 3.06 metre channel assayed 1.72% copper, 0.24 g/tonne gold and 1.7g/tonne silver within a longer 5.11 metre interval of 1.18% copper, 0.16 g/tonne gold and 1.6 g/tonne silver. Trench area 3, located approximately 400 metres northeast of the Hilltop, returned 1.03% Cu, 0.11 g/tonne gold and 0.7 g/tonne silver over 1.62 metres. A summary of results for all channel samples in this batch is given in the table below. Sample location maps can be viewed at www.nikosexplorations.com.

During the work program a total of 168 samples in 30 channels were taken from six stripped areas. The copper content of the individual samples ranged from 17 ppm to 8.98%, and 33 of the samples contained more than 1% copper. All samples were cut by rock saw and typically measured between 0.5 metres and 1 metre in length. The sampling was supervised by Mr. D. Tortosa, M.Sc., P.Eng. and Dr. Roger Moss, P.Geo. who is the qualified person for the project.

Detailed mapping indicates that the mineralization is structurally controlled and that the highest grades are found at zones of intersecting structures, such as observed at the hilltop occurrence. Chalcopyrite is the main copper mineral, with lesser bornite and rare azurite and malachite, and occurs together with specular hematite and pyrite as clusters, veinlets, disseminated grains and stockworks in altered rock. Granitic and gneissic microbreccia host rocks have been altered to varying degrees. The main style of alteration is albitization (sodium -rich), which is particularly intense in areas of high grade mineralization. Lesser red potassic feldspar alteration forms discrete zones within the microbreccia throughout the project area.

The target of exploration on the Island Copper property is an iron-oxide copper gold (IOCG) deposit. The strong association of copper and gold mineralization with iron oxide (in this case specular hematite), and the presence of sodic and potassic alteration are consistent with this exploration model. Other characteristics of IOCG deposits found at Island Copper include:

1. The replacement of magnetite by hematite – magnetite occurs within the core of some hematite grains at Island Copper reflecting possible replacement.
2. An association with brecciated rocks – granitic and gneissic microbreccia hosts the mineralization at Island Copper.
3. The presence of major, crustal scale faults – the Highway Fault, in the south of the property separates the Archean – aged Gros Cap granite and gneiss from Proterozoic - aged sedimentary rocks of the Huronian Supergroup.
4. Magnetic, gravity and chargeability anomalies – Coincident chargeability and residual gravity anomalies extend more than a kilometre west of known mineralization at Island Copper, and a sub-parallel magnetic high occurs immediately to the south.

The results of the mapping and stripping programs will be used, together with results of previous geophysical and geochemical surveys, to plan future work on the property.

Nikos is earning a 55% interest in the Island Copper Property from Falconbridge Limited.

Nikos Explorations Ltd. is an exploration company focused on the acquisition, exploration and development of copper-gold projects in the Americas and is currently exploring three Ontario properties for their iron-oxide copper gold potential.

For more information please contact:
Roger Moss, President
Tel: 416-516-6050

Or visit our website at: www.nikosexplorations.com

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

Island Copper channel sampling results (second of two batches)

Area	Sample Length	Cu	Au	Ag
	m	%	g/tonne	g/tonne
Hilltop	5	1.53	0.25	1
	including 2	2.82	0.57	1.4
	8	0.31	0.08	1.1
	including 1	1.90	0.33	0.8
	5	0.08	0.04	0.7
	4	0.50	0.26	6.2
	including 1	1.05	0.38	1.2
	6	0.10	0.08	0.5
	8	0.31	0.08	1.1
	including 1	1.90	0.33	0.8
	2.15	0.01	<0.01	0.4
	1.8	0.20	0.28	0.7
	3.78	0.02	0.09	0.5
	2.88	0.20	0.03	0.4
	2.5	0.03	0.12	0.2
	1	0.05	0.03	11.6
	1	0.06	0.00	0.4
	5	0.03	0.01	0.4
	3.57	0.19	0.10	0.9
	2.19	0.10	0.03	0.5
Trench 1E	5.4	0.98	0.05	1.4
	including 1.4	2.75	0.06	3.5
	5.11	1.18	0.16	1.6
	including 3.06	1.72	0.24	1.7
	5.47	0.07	0.03	0.6
	4.67	0.04	0.16	0.4
	3.08	0.19	0.02	0.6
Trench 3	1.62	1.03	0.11	0.7
	1.98	0.01	0.00	0.4
	2.00	0.14	0.02	0.5
	2.54	0.01	0.00	0.2
	1.68	0.89	0.07	0.7
	1.91	0.09	0.01	0.2
	1.00	0.37	0.11	0.3
Trench 6	2.66	0.01	<0.01	0.2

All samples were analyzed at Activation Laboratories of Ancaster, Ontario. Copper and silver were analyzed by ICP-OES and gold by INAA. Samples with values over 0.5% Cu and 1 g/tonne Au were re-analyzed by AA and FA – Grav, respectively.