Nirek Resources Inc.

January 21, 2008 16:00 ET

Nirek Resources Inc. Announces Letter of Intent for Eby-Otto Fault Zone Gold Property

ONTARIO, CANADA--(Marketwire - Jan. 21, 2008) - Nirek Resources Inc. ("Nirek") (FRANKFURT:3N6)(WKN:A0MTW5) and Gold Warrant (FRANKFURT:CA6546411175)(WKN:A0SW7M) is pleased to announce that they have signed a letter of intent (LOI) to acquire the Eby-Otto Fault Zone gold property. The LOI has an option to earn 100% interest over a 3-year period. The Eby-Otto Fault Zone gold property is located 13 km southwest of Kirkland Lake, Ontario and 3 km southeast of Lake Kenogami or 4 km west of Otto Lake in Otto and Eby Townships.

General Geology

The property lays along the Eby-Otto Fault Zone a southwest splay fault off the Larder Lake break. The property lies to the north of the Otto Stock within an area of mafic volcanics, minor sediments and komatitic basalts. The Eby-Otto Fault Zone crosses the property in a west-southwest direction. This fault marks the boundary between graphitic metasediments and diorite to the north and tholeiitic volcanics to the south. The fault is marked by a 200 metre wide alteration zone (Robinson 1995) consisting of iron carbonate, silicification, pyritization, quartz veining and fuchsite alteration.

Previous Exploration

According to Frederick James Sharpley who signed the Certificate of Qualification, anomalous gold values are associated with quartz veins, silicification and disseminated pyrite over a strike length of 1.6 km. Based on historical data, significant gold values from 7 diamond drill holes as detailed below:

- Quartz Porphyry: well mineralized by cp

- Quartz Porphyry: disseminated sulphides

- 0.7 5 oz Ag / ton; core to 391 feet

- 0.13 oz Au/ton in quartz vein; mineralized by molybdenite.

- 8 oz Au/ton in heavy sulphides;

- 4 oz Au/ton in vein matter, quartz stringers, fine sulphides, heavy pyritefree gold at 441'.

Recommended Exploration Program

An exploration program on the exploration targets is recommended
as follows: to complete 12 km of line cutting, to complete a 8 km I.P. survey, 6 km magnetometer and geological survey, fill-in I.P survey on the central grid, extend grid to cover claims 511329, 511579 and 511580 to the east and west. Also will complete channel sampling in trenches on claim 511329. And also, NQ-diamond drilling of six holes totaling 2000 metres.

The company is well financed to continue its exploration program in 2008.

About Nirek Resources Inc.

Nirek Resources Inc. ("NIREK") is a Canadian exploration company focused on exploring for precious and base metals in US and Canada. Its goal is to become one of Canada's major gold and precious metals producers through a series of joint ventures, mine and property acquisitions. It is the company's ambition to fulfill drilling requirements necessary to estimate a NI 43-101 compliant resource.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

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