Nanika Resources Inc.

Nanika Resources Inc.

October 08, 2009 16:25 ET

Nanika Commences Drilling on Indi Property North of Stewart, British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 8, 2009) - Nanika Resources Inc. ("Nanika") (TSX VENTURE:NKA)(FRANKFURT:C7X) announces a drill program on the Indi property approximately 24 kilometers north of Stewart, British Columbia with a minimum drilling budget to provide for a 1000 meter drill program. "More Core Diamond Drilling Services Ltd." of Prince George, British Columbia has been contracted to begin work immediately. The work will be supervised by Alex Walus, Professional Geologist, who was formerly with Pinnacle Mines Ltd. Mr. Walus has identified two targets for immediate drilling on the northeast portion of the Indi claims.

The property is directly contiguous to the Silver Coin property of Pinnacle Mines Ltd. (TSXV:PNL) who by news release on October 2, 2009 updated a National Instrument 43-101-compliant resource of: "488,202 ounces of gold in the measured and indicated category and 1,000,499 ounces of gold in the inferred category at an average grade of 2.317 grams per tonne (g/t) and 6,179,000 ounces of silver (grade 7.49 g/t) at cut-off grade of 0.75 g/t."

Nanika's President and CEO commented that: "The Nanika work program is in the competent hands of Alex Walus who has several years experience in this area. I am very happy to have Alex working with us."

Alex Walus, P. Geo., a qualified person under National Instrument 43-101, has reviewed and approved the technical content of 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
    Nanika Resources Inc.
    Douglas Kerr
    604-638-0699 or Toll Free: 1-866-580-0699