Article: Canada: Nanika Resources Molybdenum Project Update.

Byline: pinto03

Nanika Resources Inc. announces that work has been progressing steadily with environmental baseline and engineering studies required for the development of Nanika's Molybdenum Project located approximately 85 kilometers southwest of Houston, British Columbia.

Korean Negotiations Update:

In addition to the technical update that follows below Nanika is pleased to update on the status of negotiations with Korean partners Palm Clean Energy Inc. and Daewon Chemical Co. Ltd. The signing of any final Joint Venture Agreement (JVA) being negotiated will be subject to the completion of due diligence and the approval of Nanika's board. ...

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