Greystone Housing Impact Investors LP V.GHI

News Release

[wofats]

March 31, 2009 Nanika Appoints New Chief Financial Officer

March 31, 2009: Vancouver BC: Nanika Resources Inc. (TSX-V: NKA and FSE: C7X) (the "Company" or "Nanika") advises that effective March 31, 2009 the company has appointed Chantelle Vriend as Chief Financial Officer. Chantelle Vriend previously worked at a chartered accounting firm and has several years of experience working with publicly traded companies. She is currently completing courses for her Certified General Accountant designation. Nanika would like to thank the out-going CFO, Mr. Nerio Cervantes, for his excellent work over the last six quarterly financial periods in assisting Nanika to implement updated accounting systems during the period when the company established its new Vancouver office and implemented improved corporate procedures. Nanika offers him our best wishes in his future endeavors. Further to the Nanika news release of March 27, 2009, the Company wishes to confirm the amount to be paid to Kerr Consulting for providing investor relation services to the Company will be $ 1500.00 per month for a term of three months from March 31, 2009. Mr. Kerr will initiate contact with the financial community, shareholders and investors. All other terms of the previous agreement between Nanika Resources Inc. and Kerr Consulting remain constant. In regard to the granting of incentive options, 100,000 options granted to Kerr Consulting are at an exercise price of $0.10 and are to be vested in quarterly installments equally over the next year in accordance with exchange policies, with the term of the options being for five years expiring on March 31, 2014. 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 & CEO.