Nanika Resources Inc.
TSX VENTURE : NKA
FRANKFURT : C7X

Nanika Resources Inc.

November 26, 2009 15:11 ET

Nanika Announces Drilling on Ted Property Adjacent to Huckleberry Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2009) - Nanika Resources Inc. (TSX VENTURE:NKA)(FRANKFURT:C7X) ("Nanika" or the "Company") is pleased to announce that drilling has commenced on its 100% owned Ted claims located 115 kilometres by road south of Houston, British Columbia.

Nanika's Ted Property is north of and immediately adjacent to the operating Huckleberry Mine. Huckleberry Mines Ltd. also has an interest in three mineral claims on a property 8 km north of the Huckleberry Mine known as Whiting Creek. The first Nanika drill site is located at a target of interest approximately 5.3 kilometres north of the Huckleberry Mine.

The initial exploration program on the Ted claims will involve 1000 to 1500 meters of NQ2 size diamond drilling in three or more drill holes. The drilling will target an east-west trending electromagnetic conductor that was detected in an airborne geophysical survey of the area. Drilling is being done by More Core Diamond Drilling Services Ltd. of Stewart, B.C.

Huckleberry is an open-pit mine that produces copper and molybdenum concentrates. Production in 2008 totaled 6 million tonnes ore milled producing 37.2 million lbs copper and over 3,000 oz gold, 245,000 oz silver and 188,000 lbs molybdenum. Planned production for 2009 includes 40 million lbs copper, 2,400 oz gold and 195,000 oz silver. The mine is operated by Huckleberry Mines Ltd. which is owned by Imperial Metals Corporation (50%) and a Japanese consortium (50%) consisting of Mitsubishi Materials Corporation, Marubeni Corporation, Dowa Mining Co. Ltd. and Furukawa Co. (From imperialmetals.com).

Don MacIntyre, Ph.D, P.Eng., a qualified person under National Instrument 43-101 is supervising Nanika's work program on the Ted property and has reviewed and approved the technical disclosure in this news release.

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

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Nanika Resources Inc.
    Matthew Emery
    604-638-0699 or Toll Free: 1-866-580-0699
    or
    Nanika Resources Inc.
    Douglas Kerr
    604-638-0699 or Toll Free: 1-866-580-0699
    www.nanikaresources.com