Nicola Mining Announces Closing Of Non-Brokered Private Placement

TSX.V: NIM NEWS RELEASE VANCOUVER, B.C., July 23, 2018 – Nicola Mining Inc. (the “Company”) is pleased to announce that it has completed its non-brokered private placement financing (the “Financing”) as further described in its news release of June 25, 2018. In connection with the closing, the Company sold an aggregate of 9,333,329 units (each, a “Unit”), at a price of $0.15 per Unit, for gross proceeds of $1,399,999.35. Each Unit consists of one common share of the Company (each, a “Share”) and one-half of one share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable into one additional Share at a price of $0.18 per Share for a period of two years from the date of issuance. Proceeds from the Financing will be used to repay outstanding senior secured debt of approximately $656,977.27, approximately 50% of the outstanding senior secured debt, and for general working capital.  The Company has contacted the senior lender to discuss repayment of the remaining portion. The Company paid cash finders fees of $71,749.95 and issued 478,333 share purchase warrants (the “Finder’s Warrants”) to two finders in connection with certain subscriptions in the Financing. The Finder’s Warrants have the same terms as the Warrants. Peter Espig, the President, Chief Executive Officer and a director of the Company was issued 1,236,633 Units under the Financing, which constituted a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The issuance to the insider is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the...

Nicola Mining Inc. Provides Exploration Update on its New Craigmont Copper Project

TSX.V: NIM NEWS RELEASE VANCOUVER, B.C., July 19, 2018 – Nicola Mining Inc. (TSX.V: NIM), (the “Company” or “Nicola”) is pleased to announce that it has received all required permits and has commenced the 2018 diamond drilling program (the “2018 DD Program”) at its wholly-owned New Craigmont Project, located approximately 10 kilometers west of Merritt and 20 km south of the Highland Valley Operation. Following analysis of two induced polarization geophysical surveys (the “2017 IP Survey”), which were announced in November 10, 2017 and July 24, 2017 news releases, the Company has finalized initial drill hole locations (Figure 1). Finalization of initial drill hole targets was based on a comprehensive analysis of induced polarization (“IP”), mapping, historical sampling, and digitalization of historical diamond drilling results. The review also highlighted the significant scale and potential of the New Craigmont Project and the importance of developing a multi-year disciplined approach that incorporates several exploration techniques. Concurrently with the 2018 DD Program, the Company will conduct additional IP, geological mapping of key target zones, and geochemical sampling of previous and new targets. Figure 1. New Craigmont claim block with 2018 exploration target areas identified The 2018 DD Program will consist of approximately 5,500 metres, encompassing 10 initial holes in three sections: Craigmont Central, Craigmont West and East Promontory. In addition, the Company will conduct geochemical sampling and IP ground geophysics over the North Promontory zone. The areas and the exploration strategies for each are explained below. Nicola has awarded Atlas Drilling Ltd., located in Kamloops, BC, the contract for the 2018 DD Program. The two-drill program is expected to be completed in...