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 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 ratGroup Nicolaes 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.

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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.

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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.