Nikos Explorations Ltd. Appoints Leo Karabelas to Its Board of Directors
Vancouver, October 19, 2017 - Nikos Explorations Ltd. (TSXV: NIK) (OTC: NKOSF) ("Nikos" or the "Company") is pleased to announce that Leo Karabelas has been appointed a director of the Company. Mr. Karabelas has more than 12 years of diverse experience in the mining industry, including the last 10 years as president of a Toronto based corporate communications and investor relations firm. Throughout his career Mr Karabelas has assisted numerous junior mining companies with corporate development and capital markets initiatives culminating in over two hundred million dollars worth of capital for his clientele. His diverse knowledge and understanding of the natural resources sectors has led to greater visibility and market attention from the investing community.
Throughout Mr. Karabelas' career, he has built and maintained countless relationships with the North American and global investment community. Mr Karabelas is currently an officer and VP of Corporate Communications for TSX-V listed Novo Resources Corp.
Mr. Karabelas holds a business degree from Ryerson University with a major in Business Management and Enterprise Development.
"We are delighted to have Leo join our board as the Company embarks on exploring its exciting gold projects in Labrador," said Roger Moss, Chief Executive Officer of Nikos Explorations. "His mining industry experience and extensive knowledge of capital markets will undoubtedly serve the Company well going forward."
About Nikos Explorations:
Nikos Explorations is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in the Americas. Nikos recently signed a Letter of Intent under which the Company has the option to acquire 100% of the 740 square kilometre (km2) Ashuanipi property in northwest Labrador as well as a right of first refusal for the Nain (503 km2) and Hopedale Greenstone (458 km2) properties in central Labrador.
The Ashuanipi gold project is located just 35km from the historical iron ore mining community of Schefferville, which is linked by rail to the port of Sept Iles, Quebec in the south. The claim blocks cover large lake sediment gold anomalies that, with the exception of local prospecting, have not seen a systematic modern day exploration program. Recent regional geological mapping in the area by the Newfoundland and Labrador Geological Survey has highlighted the gold potential of the region and historical work 30km north on the Quebec side led to gold intersections of up to 2.23 grams per tonne (g/t) Au over 19.55 metres (not true width). Gold in both areas appears to be associated with metamorphosed iron formation.
The Nain gold project comprises three claim blocks, two of which lie along the Nain-Churchill terrane boundary. One of the claim blocks, Sneegamook, has the largest and most intense gold in lake sediment anomaly in Labrador, but no known gold exploration has taken place in the area.
The Hopedale greenstone properties cover much of the Hunt River and Victoria Lake greenstone belts that stretch over 80km. The belts are typical of greenstone belts around the world, but have been underexplored by comparison. Historical exploration did result in a gold showing of up to 7.5 g/t Au, but no significant gold exploration has been undertaken since the discovery.
The company has 25,684,225 shares issued and outstanding and trades on the TSX Venture Exchange under the symbol NIK.
Roger Moss, PhD., P.Geo., is the qualified person responsible for all technical information in this release.
For more information please contact:
Roger Moss, President and CEO Tel: 416-704-8291
Or visit our website at: www.nikosexplorations.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.