Mr. Roger Moss reports

NIKOS ANNOUNCES NEW DIRECTOR AND GRANTING OF OPTIONS

It is with sadness and regret that Nikos Explorations Ltd. announces the passing of Michael Kuta, a director of the company. Mr. Kuta provided valuable advice to the company for over nine years and will be sorely missed. Nikos's thoughts are with his family during this difficult time.

Dr. Trevor Boyd, PhD, PGeo, will replace Mr. Kuta as a director of the company. Dr. Boyd is a professional geologist with over 30 years of experience in the mining industry working as a qualified person, officer and director with both private and public companies. During the last 12 years, he has worked as a self-employed consultant most recently in an affiliation with Caracle Creek International Consulting. Dr. Boyd is a member of the Association of Professional Geologists of Ontario and a qualified person as defined by National Instrument 43-101. Dr. Boyd was a director and vice-president of exploration of Reliant Gold Corp. until January, 2016. He presently acts as president of private corporation Asia New Energy Corp., and remains the qualified person for Adex Mining Inc., and private company Canadian North Resources and Development Corp.

"I would like to welcome Dr. Boyd to the Nikos board of directors and believe that his experience in exploration, especially with Reliant Gold in the Borden Lake area, will be a significant benefit to Nikos as we continue to explore our Borden Lake Extension project this year," said Roger Moss, Nikos president and chief executive officer.

The company also announces the grant of 700,000 share purchase options to directors, officers and consultants in accordance with the company's stock option plan. The options will vest over one year, with 25 per cent vesting every three months, have a price of six cents and a five-year term to Feb. 9, 2021.

About Borden Lake Extension

The Borden Lake Extension project covers an area of 36 square kilometres and lies approximately five km southeast of Goldcorp's Borden Lake high-grade gold zone, where exploration has defined underground constrained indicated resources of 1.6 million ounces grading 5.39 grams per tonne gold and inferred resources of 400,000 ounces grading 4.37 g/t Au. This zone remains open along strike to the southeast. In addition, a lower-grade pit constrained indicated resource of 2.3 million ounces grading 1.03 g/t gold has been defined. Exploration carried out by Nikos is the first known work on the property, which is located in the Kapuskasing structural zone. Nikos holds an option to earn a 100-per-cent interest in the property.

Roger Moss, PhD, PGeo, is the qualified person for all technical information in this release.