Nanika abandons Polaris Gold property

VANCOUVER, April 23, 2012 /CNW/ – Nanika Resources Inc. (TSXV-NKA and FSE-C7X) announces that it will not be proceeding with the agreement to acquire, by option, the Polaris Gold Property, which is located five kilometres northeast of Aiken Lake, approximately 250 kilometres north of Fort St. James in British Columbia. The agreement entered into was made subject to acceptance by the TSX Venture Exchange. Details of the agreement were announced by Nanika in its news release dated October 19, 2011. Nanika has withdrawn its submission to the TSX Venture Exchange for acceptance of the agreement. The property was being acquired from a group that included a minority interest held by a company director.

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.

For further information:
Nanika Resources Inc. at 604-638-0699 or Toll Free at 1-866-580-0699