Khalkos Exploration Inc.

Khalkos Exploration Inc.

April 24, 2012 11:31 ET

Khalkos Exploration Inc./Nanuq: New High Potential Copper-Silver-Gold Property

MONTREAL, QUEBEC--(Marketwire - April 24, 2012) - Management of KHALKOS EXPLORATION INC. ("Khalkos") (TSX VENTURE:KAS)is pleased to announce the acquisition of a new property with a high potential in copper-silver-gold, located in Nunavik, around 40 km south of Salluit, Quebec. Khalkos directly acquired the Nanuq property, totalling 150 claims (62 km2), just after the public release in March of the results of a major lake sediment sampling survey completed by the Ministry of Natural Resources and Fauna of Quebec (MRNFQ). Nearly 3,000 lakes spread out over most of the Ungava, covering a 39,000 km2 area, were sampled in 2011 by the MRNFQ. The new property, Nanuq, covers the core of a significant pluri-kilometric copper-silver (mercury, gold) anomaly, which is, according to Khalkos' geologists, the most significant result of the survey.

The anomaly, covering around 95 km2, is composed of several considerable copper grades ranging within the 99th* percentile of the MRNFQ's survey, consisting of 400 to 770 ppm** associated with significant silver and mercury grades from 690 to 1,550 ppb*** and 170 to 500 ppm respectively. Significant gold anomalies with grades between 5 and 23 ppb were also associated with the other anomalies.

Considering the geochemical signature of the lake sediment anomaly, as well as the regional geological context, Khalkos' geologists believe that the property has an excellent copper, silver and gold potential.

*99th percentile: grades greater or equal to 99% of the grades from the entire 3,000 samples

**ppm: parts per million

***ppb: parts per billion

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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