Noka Resources Announces Corporate Update
August 26, 2015—Noka Resources Inc. (TSX-V: NX, FSE: 2NK) (the “Company” or “Noka”) ") is pleased to provide an update on corporate activities and its future plans for the Lodge Pole Point Project, in which it can earn 100% interest by making a one-time payment of $50,000, which has already been completed, and annual, advance royalty payments of $20,000 beginning in 2016 (see news release dated April 14, 2015).
Over the next several months Noka intends to dedicate its resources to advancing its highly prospective Lodge Pole Point Project. “With Noka’s recent corporate re-structuring, the assembly of a highly-experienced technical team, and the advantageous, re-negotiated, terms on the Lodge Pole Point Agreement, the Company is in a very favourable position to move forward with a focus on Lodge Pole and making a world class uranium discovery in the Athabasca Basin Region of Northern Saskatchewan.”, commented Nav Dhaliwal, President & CEO of Noka.
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 who in 2000 intersected alteration and base metal enrichment common to uranium deposits.
The initial exploration at Lodge Pole Point 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 LEB01-01 is located at the southern end of the Horse South grid on the same conductive corridor and approximately 6.1 km 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 km northwest of the well-defined Lazy Edward Bay radioactive diabase boulder field, (SMDI 2062).
Additional information about this project and Noka’s other projects, including the Carpenter lake Joint Venture, can be found at their website: www.nokaresources.com.
Western Athabasca Syndicate Update:
As of August 17, 2015, Noka has relinquished its membership with the Western Athabasca Syndicate and its option to earn 25% interest in the Preston Uranium Project in order to focus its resources on its wholly-owned properties and other opportunities in the Athabasca Basin
Region. 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, P.Geo., M.Sc., Noka’s Head Technical Advisor, as well as a Qualified Person.
About Noka Resources Inc.:
Noka Resources Inc. is a junior exploration company with a focus on uranium in the prolific Athabasca Basin of Northern Saskatchewan. Noka’s exploration strategy is focused on relatively underexplored areas of the Athabasca Basin Region, targeting favourable geology and structure amenable to near surface, unconformity-style uranium mineralization.
For further information, please contact Nav Dhaliwal, President, at [email protected] or visit www.nokaresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Nav Dhaliwal President and CEO (604) 678-5308
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains "forward-looking information" that is based on Noka’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Noka’s exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward- looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Noka’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Noka disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.