Nikos Explorations Ltd.
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NIKOS Closes Private Placement Financing

Vancouver, February 4, 2016. Nikos Explorations Ltd. (TSX-V: NIK) (“Nikos” or the “Company”) announced today that it has closed its previously announced non-brokered private placement offering (See News Release dated December 24, 2015).

The Company raised $35,000 through the sale of 1,400,000 units comprised of one common share and one share purchase warrant of the company. A further $10,100 was raised through the sale of 336,666 flow through units (“FT Unit”) comprised of one flow through common share ("FT Share") and one non-flow through share purchase warrant of the Company ("Warrant")

All securities issued in connection with the Private Placement are subject to a hold period of four months plus one day from the date of closing.

The net proceeds from the Private Placement will primarily be used to keep the Company's Borden Lake Extension property in good standing, to continue work on the property and for general working capital purposes.

About Borden Lake Extension:

The Borden Lake Extension Project covers an area of 36 square kilometres and lies approximately 5 km southeast of Goldcorp’s Borden Lake high grade gold zone where exploration has defined underground constrained indicated resources of 1.6 MMoz grading 5.39g/t Au and inferred resources of 0.4 MMoz grading 4.37 g/tAu. This zone remains open along strike to the southeast. In addition, a lower grade pit constrained indicated resource of 2.3 MMoz grading 1.03g/t gold has been defined. Exploration carried out by Nikos is the first known work on the property, which is located in the Kapuskasing Structural Zone. Nikos holds an option to earn a 100% interest in the property.

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. The company has 13,895,074 shares issued and outstanding and trades on the TSX Venture Exchange under the symbol NIK.

Roger Moss, PhD., P.Geo., is the qualified person for all technical information in this release.

For more information please contact: Roger Moss, President Tel: 416-704-8291

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adequacy or accuracy of this release.