Nanika Receives Assay Results for Remainder of First Drill Hole completed on
the Sweeney Property in 2010

VANCOUVER, March 16 /CNW/ - Nanika Resources Inc. (TSX-V: NKA and FSE: C7X) today announces that it has received assay results for the remainder of hole S10-1 drilled on its 100% owned Sweeney claims located 115 kilometres by road south of Houston, British Columbia.

The latest assay results for hole S10-1 included the following core intervals: 8.53 to 248.53 metres, 266.53 to 332.53 metres and 353.53 to 389.53 metres. The best result was from 23.53 to 44.53 metres which averaged 403 ppm Copper, 301 ppm Lead, 2653 ppm Zinc and 9 ppm Silver (9 grams per tonne). Results for the intervening intervals, which were submitted on a rush basis, were announced in a February 22, 2010 news release. When the results for the entire hole are combined, the overall Copper grade is 270 ppm (0.027%) over 441.46 metres.

The low grade copper mineralization encountered in hole S10-1 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.

Based on the anomalous Copper values encountered in hole S10-1, Nanika has decided to proceed with the splitting and sampling of hole S10-2.

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.

    
    -------------------------------------------------------------------------
      Hole No. Easting   Northing  Elev(m)  Azimuth  Inclin  Length(m)
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       S10-1    620651    5952484    970      270     -45     441.46
    -------------------------------------------------------------------------
       S10-2    620651    5952484    970      215     -45     276.76
    -------------------------------------------------------------------------
    

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.

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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