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| | June 22, 2010
Nanika Announces Ground Acquisition at Bulldog Creek, Stewart B.C.
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| | June 22, 2010 - Nanika Resources Inc. (TSXV-NKA and FSE-C7X) is pleased to announce it has acquired additional property in the prolific Stewart Mining Camp. Nanika has acquired eleven mineral claims in the Stewart, British Columbia area with total ground of 5,341.48 acres, of which six claims comprising 3,321.37 acres are adjacent to Nanika's existing Big Gold claim on Bulldog Creek approximately 10 kilometers south of Stewart, B. C.
The remaining five Stewart area claims acquired are in areas near current projects like:
- the Premier project on which 2009 drilling reported 11.0 metres grading 50.51 grams per tonne gold by Ascot Resources Inc. (TSXV-AOT),
- or the Clone project on which 2009 drilling reported 12.8 metres grading 44.75 grams per tonne gold by Canasia Industries Inc. (TSXV-CAJ),
- or the Red Cliff project on which 2009 drilling reported 24.7 metres grading 20.87 grams per tonne gold by Decade Resources Inc. (TSXV-DEC).
Nanika has commenced a work program on the Bulldog Creek project that will include extensive prospecting, mapping and sampling as well as on Nanika's other properties in the Stewart area. It should be noted that, at this time, there is no certainty that similar mineralization to the above reported grades will be found on Nanika's newly acquired claims. Nanika's program is being supervised by consulting geologist, Alex Walus, PGeo. who is currently on site in Stewart for the program.
Nanika has agreed to pay $10,000 and issue 100,000 shares in consideration for 100% of the 11 mineral claims acquired. There is no royalty payable. The purchase agreement is subject to TSX Venture Exchange approval.
About Nanika Resources Inc.
Nanika Resources Inc. is a TSX Venture listed mineral exploration and development company focusing on the advancement of its mineral properties, all of which are located within Canada.
On Behalf of the Board
James D. Jacuta
Chairman, President and CEO
For further information contact:
CHF Investor Relations
416-868-1079
Christopher Haldane
Account Manager - ext. 237
chris@chfir.com
Chelsea Jones
IR Associate - ext. 246
chelsea@chfir.com
Or visit: www.nanikaresources.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release. |
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