Nicola Mining Announces Debt Settlement

TSX.V: NIM NEWS RELEASE VANCOUVER, B.C. , November 14, 2017 – Nicola Mining Inc. (the “Company”) today announces that it intends 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, 2017. The Exchange has conditionally approved an amendment to the conversion price of the Debentures from $0.275 to $0.22 and the amendment to the maturity date of the Debenture from November 21, 2017 to November 21, 2019. 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 third year of the term of the Debentures. Accordingly, the Company intends to issue 4,941,799 Shares at a price of $0.17 per Share in settlement of Interest owing of $840,10.84 (the “Debt Settlement”). Insiders of the Company will be issued an aggregate of 4,450,589 Shares pursuant...

Nicola Mining Announces New Craigmont Follow-Up Induced Polarization Survey Results

TSX.V: NIM NEWS RELEASE VANCOUVER, B.C. November 10, 2017 – Nicola Mining Inc. (the “Company” or “Nicola”) is pleased to announce results on an additional Induced Polarization Geophysical Survey (“IP Survey”) that focused on the Embayment, Titan Queen, and Promontory Hill Zones, which are located on the Company’s wholly-owned New Craigmont Property. Three North-South IP Survey lines were completed, two of which focused on the Company’s Titan Queen and Embayment targets and a third aimed at providing further clarity on the Promontory Hill. The Company had previously announced positive IP Survey results in its July 24, 2017 news release and felt the area warranted additional work prior to drilling. Two of the lines targeted potential mineralization immediately south of the historic Craigmont underground mining operations, including a western line over a large previously unmined area, while the third line provided additional insight into the Embayment Zone, which the Company is currently drill testing. All three North-South IP Survey lines indicate continuation of the historic high-grade Craigmont ore body. The mineralization seems to, not only encompass Embayment Zone mineralization, but also appears to lead to a new anomalous zone that is now referred to as Embayment South. On Oct. 16, 2017 the Company engaged Scott Geophysics to conduct an additional IP Survey over the New Craigmont Property for the following: To evaluate the Titan Queen and Embayment target(s); To provide clarity on the Promontory Hill anomaly; and, To understand if IP Survey could detect mineralized anomalies through the Kingsvale Conglomerate cover, which is approximately 150.0m thick. The ability to detect mineralized anomalies through the Kingsvale via IP Survey is a...

Nicola Mining Inc. Enters Into Gold Profit Share Agreement With Ama Gold Exploration Ltd.

TSX.V: NIM NEWS RELEASE VANCOUVER, B.C. November 8, 2017 – Nicola Mining Inc. (the “Company” or “Nicola”) is pleased to announce that it has entered into a Mining and Milling Profit Share Agreement (the “AMA Agreement”) with AMA Gold Exploration (“AMA” or the “Miner”). AMA recently received its bulk sample permit allowing it to extract an initial 10,000 tonnes from the Dancer 3 Mineral Claim Tenure, located in the Sechelt Peninsula, Vancouver Mining Division Region.  Nicola is the only mill site in British Columbia in which the entire facility and tailings area is owned freehold and is the only mill permitted to accept gold and silver mill feed from throughout British Columbia. Under the AMA Agreement, the Miner plans to ship mill feed containing a minimum grade of 12.44 (0.4 oz.) grams per tonne gold. The 2011 BC Geological Survey Assessment Report 32343, written by David St. C. Dunn, P.Geo., highlights that the property has paved access and hole DDH-JR-9 intersected 2.74 metres assaying 28.02 g/t gold and 19.4 g/t silver at 8.2 metres down hole.   The Miner plans to focus on easily reachable material located near surface and has been working on the property for years. Under the AMA Agreement, the Miner will control revenues for the sale of gold and silver concentrate and reimburse cost associated with production. Operating profit will be equally distributed between Nicola and AMA. Nicola has recently completed approximately $1.0 MM in upgrades to the mill to enhance production, which is expected to commence in Spring of 2018.   On April 6, 2016, the Company announced that it had entered into a Long-Term Milling...