Nicola Mining Inc. Enters Into Exploration and Material Purchase Agreement

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October 3, 2016 | News Releases

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C., October 3, 2016 – Nicola Mining Inc. (TSXV: NIM) (the “Company”) is pleased to announce that it has entered into an Exploration and Material Purchase Agreement (the “Agreement”) with Teck Highland Valley Copper Partnership (“HVCP”), a wholly owned subsidiary of Teck Resources Limited.

Nicola Mining Inc. owns 100% of the Thule Copper Property (the “Property”) that covers 10,084 hectares along the southern end of the prolific copper-rich Guichon Batholith.  The Property is located approximately 20 kilometres south of the Highland Valley Copper mine, the largest open pit copper mine in Canada which is also located within the Guichon Batholith.

The Company will work with HVCP to conduct an exploration program on the historic stockpiles on the Property in order to gather information regarding the grade and other characteristics of the stockpiled material.   Following the exploration campaigns, HVCP will have the right to purchase stockpile material mined by the Company.  The Company will carry out the exploration and mining program, and HVCP has agreed to reimburse the Company for certain costs related to the exploration and mining programs.

If the mining program proceeds, HVCP will to pay the Company as follows for purchased material:

Copper Price (US$/lb)*

Price per Tonne of Bought Material (C$/Tonne)

< $3.50

$0.40

$3.50-$4.50

$0.60

>$4.50

$0.80

* Average LME copper price for the calendar quarter

HVCP will purchase material on a per tonne basis, as described above.  In addition, it agrees to fund the Company for certain costs associated with reclamation and re-sloping work for areas in which stockpiles have been removed.

About the Property

The historic Craigmont Mine, which is part of the Thule Copper Property, 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 and is located on the southern section of the Property.  The Craigmont Mine produced approximately 34,000,000 metric tonnes of ore averaging 1.28% copper from Body No. 1 and Body No. 2.  Craigmont Mine’s historic cut-off grade was 0.7% Cu.

McElhanney Consulting Services Ltd. of Vancouver BC, an ISO 9001 (2008) certified company, flew a LiDAR and air photo survey covering approximately 108 square km of the Thule property. Using the Leica ALS70 LiDAR unit, data was captured at a ground-sampling distance of four points per metre, providing a highly accurate topographic dataset. High-resolution, 20cm pixel colour orthophoto was created for selected areas of the property.  Stockpiles are estimated to be 80-90 million tonnes.

On September 7, 2016 the Company announced results from its highly successful five-hole drill exploration program which highlighted an intersection of 1.11% copper over 85.92 metres in THU-002, through the Embayment Zone, located approximately 1 km northwest of the past-producing Craigmont Mine.

Results from the drilling program support the Embayment Zone as a fault-offset, westward continuation of the skarn zone that hosts the Craigmont deposit. A follow-up drill program will be designed to determine continuity of mineralization further west along strike and at depth from THU-002.

President and CEO, Peter Espig, commented, “We are very pleased to team with HCVP on this exciting opportunity.  The approximate 88 million tonnes of Stockpiles fed by a known historic cut-off grade of 0.7% Cu could be a mutually beneficial project to both companies by providing additional cash flow through supply of attractive mill feed to HVCP.”

Nicola Mining also announces that it has engaged Mocking Jay Inc. and Gold Stock Trades for investor relations and has issued a total of 175,000 stock options.

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 please 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.

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Nicola Mining Announces Non-Brokered Private Placement

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Aug 23, 2016 | News Releases

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C., August 23, 2016 – Nicola Mining Inc. (the “Company”) announces that, subject to regulatory approval, it has arranged a non-brokered private placement financing (the “Financing”) of 18,337,665 units (each, a “Unit”) at a price of $0.12 per Unit for gross proceeds of $2,200,519.80. Each Unit will consist of one Share and one share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder to purchase one additional Share at a price of $0.18 per Share for a period of three years from closing. Insiders may participate in the Financing.

Finders’ fees may be payable in connection with the Financing in accordance with the policies of the TSX Venture Exchange (the “Exchange”).

All securities issued in connection with the Financing will be subject to a statutory hold period expiring four months and one day after closing of the Financing. Completion of the Financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Exchange.

The proceeds of the Financing will be used for working capital purposes.

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 Provides Operational Update

May 31, 2016 | News Releases

VANCOUVER, B.C, May 31, 2016 – Nicola Mining Inc. (the “Company”) is pleased to provide the following key updates on corporate operations.

The Company has completed all upgrades to its fully-permitted, modern, 200 tonne per day mill facility (the “Mill”), located 14 kilometers from Merritt, British Columbia. On April 15, 2016, the Company received the required permit amendment to its mine permit M-68 (the “Amendment”) that enables it to conduct custom milling of third party material. The Amendment allows the Company to accept mill feed from third parties and execute on milling and profit share agreements by processing material at the Mill. The Company purchased an I-3 industrial zoned property for $8,000,000 and subsequently constructed the $21.6 million Mill and a fully-lined tailings facility for $1.8 million on such property. The Mill was constructed with expansion capabilities and is supported by a 500 tonne per day crushing capacity and 1.7 kVA of hydro-power, of which the current Mill only requires 0.6 kVA and its 1,300,000 gallons per day water permit. The Company prides itself on minimal environmental impact and has installed a circulation system allowing it to reuse water from its lined tailings facility. Recent upgrades include installation of a gravity jig separation system that allows the Company to separate free gold from mill feed, as well as a tabling system that allows it to further separate fine gold from gold concentrate after floatation. The Mill is capable of producing free gold concentrate, gold flotation concentrate, and silver concentrate. The Mill is ready to recommence operations, which the Company expects to occur in June, 2016.

In connection with recommencing milling operations, the Company announces that it has received 1,879 tonnes of material from Siwash Minerals Inc. (“Siwash”). The Milling and Profit Share Agreement between Siwash and the Company was announced in a November 2, 2015 news release. The Company is currently conducting tests on the material to confirm grades.

The Company is also pleased to announce that it has entered into a Milling and Profit Share Agreement (the “GMI Agreement”) with Gavin Mines Inc. (“Gavin Mines”). Under the terms of the GMI Agreement, the Company will process approximately 5,000 tonnes of material stockpiled in Quesnel, British Columbia, with the option of processing an additional 1,000 tonnes of material located in a separate stockpile.

The Company expects to start receiving mill feed from Gavin Mines on May 30, 2016 and will commence processing the mill feed immediately after it has processed economic grade material from Siwash. The stockpile will be loaded at an estimated cost of $2.50 per tonne and transported from Quesnel to the Mill at a cost of $58.0 per tonne pursuant to a trucking contract. Under the transportation contract, the trucking company is required to deliver 1,000 tonnes to the Mill during the first week commencing May 30, 2016, and a minimum of 750 tonnes per week, until complete, thereafter.

In addition to transportation, the Company will allocate up to $75.00 per tonne for milling costs but, because the material is already stockpiled, there are no mining costs associate with the mill feed. Under the GMI Agreement, net proceeds are to be evenly distributed.

The Company is also pleased to announce that it has received the initial $175,000 contribution from its joint venture partner, 1050214 B.C. Ltd. (the “JV Partner”) pursuant to the Lower Nicola Joint Venture Agreement, which was announced in a news release on March 30, 2016. As announced, the joint venture provides the JV Partner with the option to acquire a 50% interest in the Company’s aggregate property for a consideration of $1,125,000, payable upon certain milestones being achieved.

Peter Espig, Chief Executive Officer of the Company, commented, “Over the past three years, the Company has successfully overcome numerous obstacles and achieved several significant milestones; however, perhaps none is as exciting as recommencing production operations. We continue to believe that the Mill has the potential to become a milling hub for high-grade gold and silver projects in the province of British Columbia and can maximize the net present value of mining projects by expediting start up and minimizing CAPEX. We will continue to seek value-added mining and milling partnerships as well as consolidation opportunities.”

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.

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.

Nicola Mining Inc. Announces Closing of Flow Through Financing

January 4, 2016 | News Releases

TSX.V: NIM

VANCOUVER, B.C. January 4, 2016 – Nicola Mining Inc. (the “Company”) is pleased to announce that it has completed its previously announced flow-through financing, whereby the Company issued 3,750,000 flow-through common shares (each, a “Flow-Through Share”) at a price of $0.08 per Flow-Through Share for gross proceeds of $300,000 (the “Offering”).

In connection with the Offering, the Company paid cash finder’s fees of $21,000 and issued non-transferable broker warrants (the “Broker Warrants”) to purchase an aggregate of 262,500 shares of the Company, on a non-flow-through basis, at a price of $0.10 per share until December 29, 2017.

The aggregate gross proceeds from the sale of the Offering will be used for further exploration on its wholly-owned Thule Project, which covers an area of 8,272 hectares in the Nicola Mining Division, located 14 kilometres northwest of Merritt in southern British Columbia and adjacent to Teck Resources Ltd.’s Highland Valley Copper. The Company hopes to follow-up on the objectives and results presented in the July 7, 2015 news release. In particular, the Company plans to focus ground exploration work proximal to the MARB 72 and WP showings, and compile Craigmont Mine data from surface and underground levels. The gross proceeds from the Company from the sale of the Flow-Through Shares will be used to incur eligible Canadian Exploration Expenses for purposes of the Income Tax Act (Canada) after the closing date and before January 1, 2017 and an amount equal to such gross proceeds will be renounced in favour of the holders of Flow-Through Shares with an effective date of no later than December 31, 2015.

All securities issued in connection with the Offering will be subject to a statutory four month hold period under applicable securities laws.

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.