Nikos Explorations Ltd. ("Nikos" or the "Company") (NIK: TSX-V) announces that the Board of Directors of the Company has today approved the issuance of options to purchase a total of 450,000 shares in the capital stock of the Company to certain members of its Board of Directors pursuant to its stock option plan. The options are exercisable at a price of $0.29 and expire in five years.

With the grant of these options, Nikos now has options outstanding to purchase a total of 800,000 shares. Nikos Explorations Ltd. is an exploration company focused on the acquisition, exploration and development of gold projects in the former Soviet Union.

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.