MONTREAL, QUEBEC–(Marketwire – Nov. 20, 2012) – Management of KHALKOS EXPLORATION INC. (“Khalkos”) (TSX VENTURE:KAS) announces the signing of an agreement letter giving Khalkos the option to fully acquire the Poissons Blancs property, host of the nickel-copper-cobalt McNickel deposit. This deposit, discovered in 1977 with more fieldwork undertaken in the 80s, is deemed to contain historical resources of 5.9 million tonnes with grades of 0.21% Ni, 0.11% Cu and 0.03% Co (NI 43-101 non-compliant resource). Although the deposit has low grades, its acquisition is justified by the hypothesis that open pit mining would be viable through new metallurgical processing techniques. Moreover, the current data demonstrate an excellent potential to significantly increase the resources by continuing the drilling on another zone that’s already known, at the north of the main zone.

In order to acquire 100% of the property, Khalkos must issue 2,600,000 shares to the seller over a period of six years, with 100,000 shares at the signing of the agreement. Furthermore, metallurgical processing tests on a sample taken from the deposit in 2011 should be carried out shortly. The seller will keep a Net Smelter Return of 2%, half of which can be repurchased for $1,000,000. The agreement is subject to the approval of the competent authorities.