Millennial Forms Technical Advisory Board

TSX VENTURE : ML

September 12, 2016

VANCOUVER, BRITISH COLUMBIA–(Sept. 12, 2016) – Millennial Lithium Corp. (TSX VENTURE:ML), (“Millennial” or the “Company“) has established a highly skilled and experienced Technical Advisory Board for its lithium development activities which includes the Pastos Grandes lithium project in Salta province, Argentina.

Millennial welcomes Vijay Mehta and Ben Binninger to advance technical development and cost optimization at Pastos Grandes. As advisors to Millennial’s technical board they will be called on to provide insights based on their deep knowledge of lithium brine processing and extensive global expertise in mineral and chemical processing. Both individuals have prior working experience with this part of South America. In addition they will be offering guidance and direction with respect to future exploration of the Pastos Grandes and other lithium projects under consideration.

We are pleased to have the benefits of these members on the technical advisory board with their wealth of technical knowledge that will augment the decision making of Millennial’s existing experienced board members.

Biographies of Technical Advisory Board Members

Vijay Mehta

Dr. Mehta (PhD) comes to Millennial Lithium with an extensive forty-five years of experience in the field of Ore and Brine based technology. The technology, which is used for the recovery of Lithium, Potash, Magnesium and Boron, produces cost effective commercial scale high purity chemical products.

Dr. Mehta has been previously responsible for coordination and communications with lithium producers around the world, wherehe compared processing technologies and production costs as well as created a competitive analysis for the lithium capacity and demand. With a perspicacity for chemistry and the manufacturing process of lithium and magnesium chemicals, Dr. Mehta continues to demonstrate his extraordinary capabilities to advance the technology for this industry.

G. A. Ben Binninger

G. A. Ben Binninger is a chief executive with extensive experience leading and creating technically sophisticated processes and service companies ranging from small business to globally industry leaders including Rio Tinto, Hercules and Arco. With skills in mergers & acquisitions, turnarounds and public offerings, Mr. Binninger brings an unusual combination of global management, strategic positioning, technical acumen and financial expertise to Millennial. His hands on operating and processing experience in chemicals, materials and mining provide a depth of knowledge to The Company.

Most recently Ben was a director and served as Chief Executive Officer for ASX listed Potash Minerals. He is a principal in IMEx Minerals, LLC and K2O Resources, LLC and was a Principal in AMT II Corporation, a private investment management company focusing on advanced materials and aerospace. Mr. Binninger has a Master’s in business administration from the Harvard Business School (HBS) as well as a Bachelor of chemical engineering degree from Manhattan College. He has taught international business management at UCLA and studied at Stanford University and INSEAD in France.

The Company would also like to correct a statement included in the August 24, 2016 release. The statement should have read, “Millennial made application to the Provincial mining authority of Salta, for an additional 4,236 hectares of mineral claims adjacent to the 1,219 hectare Pastos Grandes project.” This is the correct wording originally contained in the August 15, 2016 release.

MILLENNIAL LITHIUM CORP.

Graham Harris, Chairman, Director

NEITHER THE 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 news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.”

Nicola Mining Commences Drilling Exploration and Lidar Survey

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C., June 29, 2016 – Nicola Mining Inc. (the “Company”) is pleased to announce that it has commenced a drilling program on its 10,084 hectare Thule Copper Property (the “Property”) located at the southern end of the Guichon Batholith approximately 14 km northwest of Merritt.

The drill program will consist of approximately 1,500 metres of drilling and will focus on three key targets zones: the Eric, Embayment and Titan Queen Zones. The purpose is to expand copper mineralization from previously known historic drilling and 2016 surface sampling. In addition to the three key target zones the Company hopes to prepare future drilling options on the Marb Zone, pending additional surface sampling.

Previous highlights in the 3 zones consist of the following:

• Embayment Zone:
  • S-100 – 150 metres of 0.47% copper
• Titan Queen Zone:
  • S-80 – 4.57 metres of 0.40% copper
  • S-81 – 11.59 metres of 0.40% copper
  • S-83 – 3.05 metres of 0.86% copper
  • 2016 sampling Trench 1 – 0.30% copper over 16 metres
  • Trench 2 – 0.56% copper over 10 metres
  • Trench 3 – 0.60% copper over 6 metres
• Eric Zone:
  • S-86 – 3.05 metres of 0.92% copper
  • S-90 – 54.25 metres of 0.23% copper
  • 2016 sampling of the Eric Shaft – 0.52% copper over 9 metres (perimeter).

Drilling conducted in 2005 by Christopher James Gold Corp in the Embayment Zone failed to penetrate through the Kingsvale/Spences Bridge unit into the permeable Nicola Group volcanics. The Titan Queen and Eric Zones were last drill tested in the 1970’s by Craigmont Mines.

LIDAR Survey

The Company hired McElhanney Consulting Services Ltd. to complete a Light Detection and Ranging Survey (“LIDAR Survey”) over the entire wholly-owned Thule Property. The purpose of the LIDAR survey is to reveal the network of faults responsible for mineralization on the Property. The LIDAR survey consists of a fixed-wing aircraft that flies flight lines over the Property in order to generate a detailed topographic contour map and selective orthophoto, which is geometrically corrected such that the scale is uniform: the photo has the same lack of distortion as a map, for accurate ground mapping.

Property Geology

An east-northeast trending, steeply dipping, volcanic pile of Upper Triassic Nicola Group rocks that is bound to the north by the Early Jurassic-Late Triassic Guichon Creek Batholith and unconformably overlain by the Middle and Upper Cretaceous Spences Bridge Group underlies the Property.

The Property holds at least two types of mineralization described as copper-iron skarn and copper porphyry. Carbonate-rich, silicate-rich or intrusive rocks along the southern flank of the Guichon Batholith host both types of mineralization.

Several major faults cut through the property including the north-trending Lornex Fault on the west that is geologically responsible for the large-tonnage porphyry copper deposits to the north, including Highland Valley, Lornex, Bethlehem and Highmont. Faults controlling mineralization around the mine include the northwest trending east and West Embayment Faults, the Mine East Fault and the East-West Fault.

Property History

The Property covers a large area along the southern extents of the Guichon Batholith where many of the copper prospects on the Property have been intermittently explored since the 1930’s. The most important discovery to date has been the past producing Craigmont Copper-Iron mine located in the central part of the claim holdings.

Craigmont was operated as an open-pit mine by Craigmont Mines Ltd. from 1961 to 1967 and as an underground sub-level cave mine from 1967 to 1982. Over its operating life, the mine produced 34,000,000 metric tonnes of ore averaging 1.28% copper from Body No. 1 and Body No. 2. A policy decision was made by the board of Craigmont to shut down the mine in 1982, at a time when the copper price was approximately $0.60 per pound.

From 1982 to 1992, Craigmont shipped up to 60,000 tonnes of clean metallurgical magnetite per year from its stockpile to coal producers throughout North America for use in the coal flotation process. After 1992, Craigmont continued to produce a limited amount of products for the coal industry from re-worked iron fines in the tailings pond. Craigmont Mines Limited shut down its magnetite facility in 2014, after the economic grade of magnetite was exhausted.

On March 3, 2011, Nicola agreed to buy all of the outstanding shares of Craigmont Holdings Ltd. in consideration for certain cash and share payments. On November 19, 2015, Nicola acquired the remaining shares of Craigmont Holdings Ltd. for a 2.0% net smelter royalty. The Company now owns 100% of the Property.

Historical Estimates

There are currently no mineral resource estimates on the Property. Historical “non NI 43-101” resource calculations are recorded in internal memos and geological reports for Placer Development. An internal memo written by J.F. Bristow on October 30, 1985 to Craigmont Mines Ltd. reported a zone known as Body No. 3 containing a historic estimate of 1,290,000 tons (1,170,268 metric tonnes) of copper grading 1.53% copper.* This estimate assumes a 0.7% copper cut-off and a 20 foot mining width between drill sections 6565E and 8015E. The material in Body No. 3 contains mineralization primarily in silicate-rich rocks.

In addition, J.F. Bristow reported, in an internal memo dated July 22, 1985 to Craigmont Mines Ltd., a rough calculation of +60,000,000 pounds (1.6 million short tons or 1.45 metric tonnes) of +1.5% copper from an original ore estimate of 27,754,000 short tons (25,178,005 metric tonnes) of copper grading 1.79% copper left behind in the sub-level cave. The material is from the previously mined out No.1 Body and No.2 Body.

It should be noted that these historical estimates do not meet the requirements needed to conform to NI 43-101 standards. The Company notes that an independent QP has not done sufficient work to verify and classify the historical estimates as current mineral resources, and is therefore not treating the historical estimates as current mineral resources or mineral reserves.   For further details on the Thule copper property, see the technical report entitled “TECHNICAL REPORT on the THULE COPPER – IRON PROPERTY, Southern British Columbia, Canada”, filed on May 8, 2013 on Sedar atwww.sedar.com.

Qualified Person

The foregoing geological disclosure has been reviewed and verified by Brian May, P.Geo., a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Nicola Mining Inc. is a junior mining company listed on the TSX Venture Exchange, and is in the process of recommencing mill feed processing operations at its 100% owned state-of-the-art mill and tailings facility, located near Merritt, British Columbia. It has already signed four mill profit share agreements with high grade gold producers. The fully-permitted mill is able to process both gold and silver mill feed via gravity and floatation processes. The Company also owns 100% of Treasure Mountain, its high grade silver property, and a gravel pit, which is located adjacent to its milling operations.

On behalf of the Board of Directors

“Peter Espig”

Peter Espig

CEO & Director

For additional information

Contact: Peter Espig
Phone: (604) 647-0142
Email: peter@nicolamining.com

Neither the 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.

Nicola Mining Commences Milling Operations

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C., June 16, 2016 – Nicola Mining Inc. (the “Company”) is pleased to announce that it has commenced milling operations at its 200 tonne per day mill facility (the “Mill”), located 14 kilometers from Merritt, British Columbia.  The Company has completed successful test runs to confirm gold recovery rates and has commenced processing of material received from Gavin Mines Inc. (“Gavin Mines”).  Terms of the Milling and Profit Share Agreement (the “GMI Agreement”) were announced in the Company’s news release of May 31, 2016. Under the GMI Agreement the Company will produce both gravity and flotation concentrates that will be sold to third parties for production of gold doré bars. The Company plans to mill the initial amount of approximately 5,000 tonnes and will consider the option of processing an additional 1,000 tonnes of material located in a separate stockpile.

The Company collected 62 representative samples, approximately 2 kg each, from 31 truckloads of material for grade control prior to processing. All samples returned significant gold grades ranging from 0.575 g/t gold to 33.6 g/t gold, with an average grade of 9.53 g/t gold. 31 of the samples collected returned values over 8 g/t gold.

Peter Espig, Chief Executive Officer of the Company, commented, “We are very excited to have the Mill running and commencing gold processing.  The startup has had a few delays and required adjustments; however, we continue to move towards becoming BC’s newest high-grade gold and processor.”

The Company also announces that it has issued 200,000 options to a key member of the technical team.

Quality Control

The sampling of Gavin Mines mill feed was supervised by Brian May, P.Geo., a Consulting Geologist with the Company, who is responsible for the sampling procedures prior to processing at the Mill. On-site personnel at the project collected 2kg representative samples from each truckload arriving at the Mill. Samples were labeled by the Mill staff according to the truckload number. Samples were then analyzed by the geological team to determine rock type and whether the material was oxide or sulphide. The material was then given defined sample numbers, security sealed and shipped to Actlabs (ISO 17025) in Kamloops, BC for analysis. The Company routinely inserts standard reference material and rock blanks to ensure accuracy and precision.

The Company also records and documents gross weight, tare weight and net weight (in kilograms) and the arrival time and date of all trucks shipping material to site.

Qualified Person

Brian May, P.Geo., a Consulting Geologist with the Company and qualified person as defined by National Instrument 43-101, has reviewed the scientific information that forms the basis for this news release, and has approved the disclosure herein. Mr. May is not independent of the Company, as he is a shareholder of the Company.

Nicola Mining Inc. is a junior mining company listed on the TSX Venture Exchange, and is in the process of recommencing mill feed processing operations at its 100% owned state-of-the-art mill and tailings facility, located near Merritt, British Columbia. It has already signed four mill profit share agreements with high grade gold producers. The fully-permitted mill is able to process both gold and silver mill feed via gravity and floatation processes. The Company also owns 100% of Treasure Mountain, its high grade silver property, and a gravel pit, which is located adjacent to its milling operations.

On behalf of the Board of Directors

“Peter Espig”
Peter Espig
CEO & Director

For additional information
Contact: Peter Espig
Contact: (604) 647-0142
peter@nicolamining.com

Neither the 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.

Disclaimer for Forward-Looking Statements

This news release contains projections and forward-looking statements that involve various risks and uncertainties regarding future events. Such forward-looking statements are based on current expectations of management and a number of risks and uncertainties and are not guarantees of future performance of the Company. These statements include statements regarding the Company’s expected processing timing and capabilities, statements regarding the milling and profit sharing agreements and statements regarding potential future plans. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including the inability of the Company to effect the expanded operations; the timing of delivery of material to the Mill site; the timing and price of delivery and processing of same; and other factors beyond the Company’s control. Actual results and future events could differ materially from those anticipated in such forward-looking statements. These and all subsequent written and oral forward-looking statements are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not assume any obligation to update any forward-looking statements in this news release should circumstances or management’s estimates or opinions change.

##

Viscount Adds Mine Engineer to Technical Advisory Board

June 2, 2016 – VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or the “Company”)  is pleased to announce that engineer and mining executive Ian R. Harris has consented to join the Company’s technical advisory board.

“Viscount is extremely pleased to have an engineer with the experience and abilities of Mr. Harris join its Technical Advisory Board,” said Jim MacKenzie, President & CEO of Viscount. “Ian will be an excellent source of advice as the Company advances its Silver Cliff property. We welcome Mr. Harris and look forward to his valued contribution as the newest member of our team.”

Mr. Harris is a bilingual mining engineer with over 20 years of experience in the mining industry including 10+ years working in South America with companies such as Asarco LLC, Corriente Resources, AEP and Washington Group International.  Mr. Harris has spent the last two years as CEO of AMAK Mining, the first operating private mining company in the Kingdom of Saudi Arabia.

Mr. Harris has managed all phases of the mining cycle, in diverse areas including general management, project development, project management, field operations, engineering, financing, and operations supervision and optimization. He has demonstrated the ability to achieve results in difficult environments, such as the Middle East, Venezuela, Ecuador and Bolivia.

Mr. Harris successfully led a campaign to reactivate Corriente Resources mining operations in Ecuador after a three-year suspension by successfully navigating through a new constitution, and a new mining law. Under his leadership Corriente’s mining projects were designated national strategic projects and the first to start and finalize contract negotiation for construction of the first industrial scale mining projects in Ecuador.  His achievements led to the sale of Corriente to Tongling Nonferrous Metals Group Holding Co., Ltd. for $690M.

Mr. Harris stated, “I am very pleased to join the Company’s advisory board. I am excited to be assisting in the continued advancement of the Company’s activities in Nevada and the Silver Cliff property in Colorado.”

About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)

Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado.  Cherry Creek is comprised of more than 10,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a bankable feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.

For additional information regarding the above noted property and other corporate information, please visit the Company’s website at www.viscountmining.com

ON BEHALF OF THE BOARD OF DIRECTORS

“Jim MacKenzie”

President, CEO and Director

For further information, please contact:

Viscount Investor Relations

Phone: 604-960-0535

Email: info@viscountmining.com

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.

Forward-Looking Statements

This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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Paul Johnston (Ph.D. Geological Sciences) Joins Board of Nicola Mining Inc.

May 19, 2016 | News Releases

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C., May 19, 2016 – Nicola Mining Inc. (the “Company” or “Nicola”) is pleased to announce that Dr. Paul Johnston (Ph.D. Geological Sciences) has joined the Board of Directors of Nicola. Dr. Johnston’s extensive experience in recognizing and enhancing value-adding exploration projects will be particularly useful as the Company looks deeper into its Thule Copper Project, as well as potential acquisitions to augment its modern processing mill located 10 km outside of Merritt, BC.

Dr. Johnston is known for improving the performance of exploration teams and devising successful exploration projects. He was most recently Principal Geologist with Teck Resources Limited, and has valuable in-depth knowledge of copper, silver, and gold mineralization. The Company’s Thule Copper Project is located near Teck Resources Limited’s Highland Valley Copper’s operations, a region in which Paul has expertise.  In addition, Paul will work with Nicola’s Project Geologist, Brian May, to review potential sources of mill feed and acquisitions. The Company feels that, given the significant CAPEX requirement and administrative complexities associated with receiving a mill site permit, there could be project consolidation opportunities in the future.

Peter Espig, Chief Executive Officer, commented, “Paul brings an immense amount of expertise and credibility to our team and project(s).  We look forward to working together closely as the Company moves forward.”

The Company also announces that it has granted 1,700,000 options at of $0.11 to directors and officers under its Stock Option Plan.

Thule Copper Project

The Thule copper property is 100% owned by Nicola and consists of 21 mineral claims and 10 mineral leases covering approximately 10,084 hectares. Carbonate rich Nicola Group volcano-sedimentary units and intrusive rocks found along the southern flanks of the Guichon Batholith underlie the majority of the property which is located approximately 30 km south of the Highland Valley Copper operation. There are two dominant styles of mineralization on the property: copper iron skarn and copper porphyry. The most important discovery to date on the property has been the past producing Craigmont copper-iron mine, located in the central part of the claims. Craigmont operated from 1961 to 1982, as an open pit-mine and as an underground sub-level block cave mine. Over its operating life, the mine produced 34,000,000 metric tonnes of ore, averaging 1.28% copper, from Body No.1 and Body No.2. Craigmont shut the mine down in 1982 due to a policy decision by the board at a time when the copper price was approximately $0.60 per pound.

For further details on the Thule copper property, see the technical report entitled “TECHNICAL REPORT on the THULE COPPER – IRON PROPERTY, Southern British Columbia, Canada”, filed on May 8, 2013 on Sedar at http://www.sedar.com.

Qualified Person

The foregoing geological disclosure has been reviewed and verified by Brian May, P.Geo., a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Nicola Mining Inc.

Nicola Mining Inc. is junior mining company listed on the TSX Venture and is in the process of recommencing mill feed processing operations at its 100% owned state-of-the-art mill and tailings facility, located near Merritt, British Columbia. It has already signed four mill profit share agreements with high grade gold properties. The fully-permitted mill is able to process both gold and silver mill feed via gravity and floatation processes.  The Company also owns 100% of the Treasure Mountain, its high grade silver property and a gravel pit, which is located adjacent to its milling operations.

On behalf of the Board of Directors

“Peter Espig”
Peter Espig
CEO & Director

For additional information
Contact: Peter Espig
Contact: (604) 647-0142
peter@nicolamining.com

Neither the 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.

###

Nicola Mining Announces Increase in Unit Financing

Apr 21, 2016 | News Releases

TSX.V: NIM

VANCOUVER, B.C.April 21, 2016 – Nicola Mining Inc. (the “Company”) announces that it is increasing the size of its non-brokered private placement (the “Financing”) announced on November 19, 2015. The Company previously disclosed that it would issue up to 28,125,000 units (each, a “Unit”) at a price of $0.08 per Unit for gross proceeds of up to $2,250,000. The Company today announces that it has increased the number of Units to be issued, such that it will issue up to 34,375,000 Units for gross proceeds of up to $2,750,000. The terms of the Units remain as announced on November 19, 2015. To date, the Company has raised a total of $2,084,500 from the closing of the first, second and third tranches of the Financing. Closing of the Financing remains subject to the approval of the TSX Venture Exchange.

The Company may pay finder’s fees in connection with the issuance of the Units.

The use of proceeds will be used for general working capital.

All securities issued pursuant to the Financing will be subject to a statutory hold period expiring four months and one day after closing of the Financing.

On behalf of the Board of Directors

“Peter Espig”
Peter Espig
CEO & Director

For additional information
Contact: Peter Espig
Contact: (604) 647-0142
peter@nicolamining.com

Disclaimer for Forward-Looking Information

Certain statements in this press release related to the Financing and the securities issuable thereunder are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the proceeds to be raised pursuant to the Financing, the terms of the securities issuable pursuant to the Financing, resale restrictions relating to the securities to be issued, the use of proceeds of the Financing and receipt of the approval of the TSX Venture Exchange. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Company’s ability to complete the Financing, including the risk that the Financing may not be completed as expected or at all, that the security interests may not be as set out in this news release, that the proceeds of the Financing may be used other than as set out in this news release, that the TSX Venture Exchange may not approve the Financing and such other factors beyond the control of the Company. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the 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.

Nicola Mining Inc. Signs Joint Venture Agreement

Mar 30, 2016 | News Releases

TSX.V: NIM

VANCOUVER, B.C., March 30, 2016 – Nicola Mining Inc. (the “Company” or “Nicola”) is pleased to announce that it has entered into the Lower Nicola Joint Venture Agreement (the “Agreement”) with 1050214 B.C. Ltd. (the “JV Partner”). Under the Agreement, the Company and the JV Partner will participate in the continued operation and expansion of the Company’s gravel business, which is located on District Lot 4234 (Thompson Nicola Regional District: Parcel 005-729-289) (the “Property”).

Currently, the Company has a royalty agreement (the “Royalty Agreement”) in place with Norgaard Ready-Mix Ltd. (“Norgaard”), a company whose products include sand and gravel aggregates, as well as ready-mix concrete. The Royalty Agreement will remain intact to allow Norgaard, which focuses on supplying its products to the Interior of British Columbia, to continue to use the Property. The JV Partner will focus on exploring and developing the gravel resource on the opposite side of Aberdeen Road with the interest of supplying aggregate to the Lower Mainland of British Columbia.

The JV Partner and the Company will form a joint venture (the “LNJV”) and will work towards increasing the amount of aggregate under the current gravel pit permit, Sand and Gravel Permit #G-15-019, from 60,000 tonnes per annum to 200,000 tonnes per annum. The increase in the gravel permit, if granted, will provide both Norgaard and the LNJV with the ability to extract aggregate from the same site and meet current market demand. Prior to commencing gravel operations targeted at the Lower Mainland, the LNJV will conduct a review of the Property and submit a Sand and Gravel Notice of Work and Reclamation Program. Until approvals of various permits, Norgaard shall be the exclusive miner of aggregate under Sand and Gravel Permit #G-15-019.

The Agreement also provides the JV Partner with the option to acquire a 50% interest in the Property for aggregate consideration of $1,125,000 payable upon certain milestones being achieved.

The JV Partner has agreed to make an initial contribution of $175,000 by April 15, 2016, which contribution will be used by the LNJV to conduct a full review of the site and work towards receiving operational permits.

Peter Espig, Chief Executive Officer, commented, “LNJV is a very exciting opportunity that highlights management’s creativity to create new revenue streams amidst trying markets for junior miners. We also continue to finalize modifications to recommence milling operations in April, 2016.”

Nicola has received approval to extend the financing it previously announced in New Releases dated November 19, 2015, November 24, 2015, December 7, 2015, January 21, and March 22, 2016 to on or before April 29, 2016.

The Company also announces that it has entered into an investor relations agreement (the “IR Contract“) with Tribeca Capital Partners Inc. (“Tribeca“). Under the Agreement, Tribeca will develop and execute a comprehensive marketing and investor communications program to help raise awareness of the Company. Tribeca will provide advice to the Company with respect to corporate development, producing and distributing effective marketing communication tools, increasing investor awareness, and introducing the Company to private investors, analysts, brokers, money managers, newsletter writers and other financial professionals.

Tribeca is not related to the Company and does not have any direct or indirect interest in the Company or its securities, other than the granting of 200,000 stock options. The Agreement is subject to TSX Venture Exchange approval.

On behalf of the Board of Directors

“Peter Espig”
Peter Espig
CEO & Director

For additional information
Contact: Peter Espig
Contact: (604) 647-0142
peter@nicolamining.com

Cautionary Note Regarding Forward Looking Information:

This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information includes, without limitation, statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company such as the statements that the Company will be able to obtain an amendment to its gravel permit to increase the amount of aggregate being removed from the Property, that the Company will be able to satisfy the obligations under the Agreement and that the Company will be able to obtain the required permits to commence operations of the proposed landfill for contaminated soil. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including the inability of the Company and/or the LNJV to obtain the required permits and approvals to operate the expanded aggregate operation and the landfill operation, and other factors beyond the Company’s control. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not assume any obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

Neither the 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.