Mr. Nav Dhaliwal reports

NOKA RE-NEGOTIATES LODGE POLE POINT PROJECT

Noka Resources Inc. has renegotiated the terms of the acquisition by which the company can earn a 100-per-cent interest in the Lodge Pole Point project, which straddles the southern border of the Athabasca basin in Saskatchewan, west of the Key Lake uranium mine. The company has reduced its commitments from payments totalling $1.6-million over the next 48 months and completing $2-million in exploration expenditures on the property within four years to a one-time payment of $50,000 and an advance royalty payment of $20,000 due annually, beginning in 2016.

Regarding the new terms, Nav Dhaliwal, president and chief executive officer, commented: "The new terms represent a marked savings to Noka, as money previously earmarked for property payments can now be channelled into furthering this marquee project. This is a tangible milestone in the company's restructuring, one that should result in increased shareholder value."

The Lodge Pole Point project hosts several kilometres of northeast-trending conductors, delineated through both airborne and ground EM surveys, and first-pass drilling by JNR Resources in 2000 intersected alteration and base metal enrichment common to uranium deposits. The initial exploration at Lodge Pole will be focused in and around drill hole LEB01-01, which was spotted on the ice of Lodge Pole Lake, immediately east of the west shore. This drill hole returned anomalous trace element values from strongly altered and structurally disrupted basement lithologies. Furthermore, hole No. -01 is located at the southern end of the Horse South grid on the same conductive corridor and approximately 6.1 kilometres southeast of drill hole DF-63 (SMDI 2540), which returned strongly altered and structurally disrupted sandstone. Also of interest is that the Horse South grid is approximately 12.1 kilometres northwest of the well-defined Lazy Edward Bay radioactive diabase boulder field (SMDI 2062).

Qualified person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, PGeo, MSc, Noka's head technical adviser, as well as a qualified person.

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