Let Omega(epsilon) be a bounded domain in R-N with small holes. In this paper, we study the existence of solutions for the following problem { (-Delta)(s) u = u(2)*(s-1), u > 0, in Omega(epsilon), u = 0, in R-N \ Omega(epsilon,) where 0 < s < 1 and 2(s)*= 2N/N-2s. We construct solutions which blow up like a volcano near the center of each hole in Omega(ep...