Nicola Mining Announces Closing of the First Tranche of Unit Financing

TSX.V: NIM NEWS RELEASE VANCOUVER, B.C., November 24, 2015 – Nicola Mining Inc. (the “Company”) announces that, further to its News Release of November 19, 2015, it has completed the first tranche of its private placement financing (the “Financing”) pursuant to which it sold an aggregate of 19,375,005 units (each, a “Unit”), at a price of $0.08 per Unit, for gross proceeds of $1,550,000.40. The Company intends on completing additional tranches of the Financing. Each Unit consisted of one common share (each, a “Share”) and one share purchase warrant (each, a “Warrant”). Each Warrant is exercisable into one Share at a price of $0.15 per Share for a period of two years from the date of issuance. Insiders of the Company purchased Units in the aggregate amount of $1,126,000.40. The Company did not pay any finder’s fees in connection with the Financing. Proceeds from the Financing will be used to fulfill the remaining payments under the Restructuring Plan under the Companies’ Creditors Arrangement Act (the “CCAA”) proceeding, which includes repayment of certain debt owed to Wateron Global Value, L.P. (“Waterton”) and other secured creditors and to provide the Company with working capital. The Company has successfully implemented its Restructuring Plan and expects to exit CCAA shortly. The securities issued under the Financing, and the shares that may be issuable on exercise of the Warrants, are subject to a statutory hold period expiring on March 24, 2016. The Company also announced that it has entered into an amendment to the Settlement Agreement with Waterton dated November 23, 2015 (the “Amendment Agreement”), whereby the parties have agreed to amend the Settlement...

Nicola Mining Announces Debt Settlement

TSX.V: NIM NEWS RELEASE VANCOUVER, B.C., November 20, 2015 – Nicola Mining Inc. (the “Company”) today announces that it has agreed to pay all of the interest owing on the secured convertible debentures (the “Debentures”) issued on November 21, 2014 by the issuance of common shares (each, a “Share”) of the Company. The Debentures mature on November 21, 2017 and bear interest (“Interest”) at a rate of 10% per annum, which Interest is payable annually as to 50% in cash and 50% by the issuance of Shares at a price per Share equal to the Market Price (as defined in the Policies of the TSX Venture Exchange (the “Exchange”)) on the anniversary of the date of issuance of the Debentures, being November 21, 2015. The Company intends on paying all of the Interest in Shares and in order to incentivize the holders of the Debentures to agree to take such Shares in lieu of the cash payment originally contemplated in the Debentures, it has agreed to settle that outstanding interest payment obligation by the issuance of Shares as if the rate of interest was 12% for the first year of the term of the Debentures. Accordingly, the Company will issue * Shares at a price of $* per Share in settlement of Interest owing of $840,105.84 (the “Debt Settlement”). The Debt Settlement is subject to Exchange approval. The Shares will be subject to a statutory hold period expiring on the date that is four months and one day after the closing of the Debt Settlement. On behalf of the Board of Directors “Peter Espig” Peter Espig CEO & Director...

Nicola Mining Announces Acquisition of Thule Shares

TSX.V: NIM NEWS RELEASE VANCOUVER, B.C., November 19, 2015 – Nicola Mining Inc. (the “Company”) today announces that it has entered into an agreement with the former shareholders (collectively, the “CMJV Parties”) of the Company’s wholly-owned subsidiary, Huldra Properties Inc. (“Huldra Properties”), pursuant to which the CMJV Parties have agreed to transfer an aggregate of 499 common shares (the “Thule Shares”) of the Company’s subsidiary, Thule Copper Corporation (“Thule”), to the Company. The acquisition of the Thule shares will result in the Company being the sole shareholder of Thule. In consideration of the foregoing, the Company has agreed to grant to Aberdeen Ventures Inc., one of the CMJV Parties, a 2.0% net smelter royalty with respect to certain mineral claims and leases held by Thule in southwestern British Columbia (the “Royalty”). The parties also agreed that Michael McPhie, a director of Thule, will resign from such position. The Thule copper property consists of 20 mineral claims and 10 mineral leases covering approximately 8,804 hectares Carbonate rich Nicola Group volcano-sedimentary units and intrusive rocks found along the southern flanks of the Guichon Batholith compose 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...