Nanika Announces Investor Relations Agreement with CHF

VANCOUVER, Feb. 17 /CNW/ - Nanika Resources Inc. (TSX-V: NKA and FSE: C7X) is pleased to announce that it has appointed CHF Investor Relations to elevate Nanika's market awareness, investor relations and corporate communication activities. CHF will initiate and maintain contact with the investment community of investors, analysts, accredited retail brokers and shareholders. Working together with Management, CHF will strategize, design, implement and track Nanika's multimedia market awareness and corporate communication programs so that outreach to brokers, private investors, analysts, portfolio managers, and media contacts is proactive. (See for more.)

Under the twelve-month Engagement Agreement (extendible beyond February 15, 2011, by mutual agreement), CHF is to receive $6,000 per month and has been granted stock options to purchase 200,000 shares of the Company at an exercise price of $0.15 per share and 200,000 shares of the Company at an exercise price of $0.20 per share. The grant of stock options is for a term of five years and shall vest pursuant to the vesting provisions, and terms and conditions of the Company's stock option plan and the policies of the TSX Venture Exchange, such that no more than 25% of the granted options may vest in any three-month period. In the event of the termination of the investor relations agreement all options would be cancelled after 30 days.

All regulatory filings required by the policies of the TSX Venture Exchange in regard to the Engagement Agreement are currently being completed.

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 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.

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

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