Nanika Receives Assay Results for Drill Hole S10-2 on the Sweeney Property

VANCOUVER, May 3 /CNW/ - Nanika Resources Inc. (TSX-V: NKA and FSE: C7X) today announces that it has received assay results for hole S10-2 drilled on its 100% owned Sweeney claims located 115 kilometres by road south of Houston, British Columbia.

Diamond drill hole S10-2 was drilled at azimuth 215 and inclination -45 degrees from the same drill site as hole S10-1. Results for hole S10-1 were announced in a March 16, 2010 news release. The entire length of hole S10-2 (276.76 metres) had weakly anomalous copper concentrations with the highest value of 1493 ppm (0.149%) Cu occurring between 107.53-110.54 metres. The low grade copper mineralization encountered in hole S10-2 is similar to that encountered in the upper part of hole S10-1 (see news release issued on March 16, 2010). In both holes mineralization occurs in a chlorite-epidote-magnetite-pyrite altered lapilli tuff. This style of alteration and mineralization is typical of the propylitic zone that is often found peripheral to a porphyry copper deposit. Other indications of a possible porphyry deposit at depth include a nearby mineralized breccia pipe and small intrusions of granodiorite.

Drill holes S10-1 and S10-2 are located approximately 3 kilometres due north of the Huckleberry open pit. Huckleberry produces copper and molybdenum concentrates and is operated by Huckleberry Mines Ltd., a subsidiary of Imperial Metals Corporation (50%) and a Japanese consortium.

A total of 718.22 metres of NQ diamond drilling in two holes, both from the same drill collar, have now been completed on the Sweeney claims. The following table gives the location, azimuth, inclination and length of these holes.

    
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    Hole No.    Easting   Northing  Elev(m)   Azimuth   Inclin    Length (m)

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    S10-1        620651    5952484    970       270      -45        441.46

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    S10-2        620651    5952484    970       215      -45        276.76

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Don MacIntyre, Ph.D,. P.Eng., a qualified person under National Instrument 43-101, is supervising Nanika's work program on the Sweeney property and has reviewed and approved the technical disclosure in this news release.

Other News

Nanika has recently staked a number of new mineral claims in the area between Newcombe and Nadina Lake and in the southeastern Shelford Hills. These new claims are centered 25 kilometres north and 45 kilometres northeast of the Sweeney Lake property respectively. The mineral tenures were staked to cover potentially prospective ground in an area of known mineralization and alteration. Nanika plans to do grassroots prospecting and geological mapping on these mineral tenures in 2010. Please see the Nanika website for a map of the claims at www.nanikaresources.com .

Nanika also announces that John Busswood has replaced Ross Blusson as Chief Financial Officer and Secretary. Ross Blusson has indicated he would like to reduce his time commitment and obligations with Nanika. Both remain as directors of Nanika Resources Inc.

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

To receive Company news via email please contact chelsea@chfir.com and mention "Nanika Resources News" in the subject line.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.

%SEDAR: 00005736E

SOURCE NANIKA RESOURCES INC.

For further information: For further information: CHF Investor Relations at (416) 868-1079, Christopher Haldane, Account Manager, at ext. 237, chris@chfir.com; Jeanny So, Director of Operations, at ext. 225, jeanny@chfir.com; Or Nanika Resources Inc. at (604) 638-0699 or Toll Free at 1-866-580-0699, http://www.nanikaresources.com

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NANIKA RESOURCES INC.

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