Nicola Mining Announces Test Results From Magnetite Recovery Which Results In An Increase In Copper Equivalent Grades Of Up To 34%

TSX.V: NIM NEWS RELEASE February 19, 2019, Vancouver, BC – Nicola Mining Inc. (the “Company” or “Nicola”) is pleased to announce the results of a preliminary metallurgical testing program and the significance of a copper-magnetite grade equivalent (“CuEq”) at its wholly-owned New Craigmont Project (the “Project”), located 14 km from the city of Merritt, BC. Nicola contracted ALS Metallurgy’s Kamloops[1] laboratory to perform magnetic separation and froth floatation testing on samples collected from a number of selected diamond drill and reverse circulation drill holes (“RC”). A total of thirty-nine samples were classified into low-grade (“LG”) copper and high-grade copper (“HG”) composites that reflect mineralization grades encountered at the Project. The composites were tested using a Davis Tube[2] for magnetite separation. Composite samples were then tested by froth floatation to determine copper recovery.  The tailings from the froth floatation was then re-tested using the Davis Tube test to determine the iron (“Fe”) recovery after copper extraction (Figure 1). Figure 1: Workflow of composite samples1 Metallurgical testing was conducted to provide a CuEq value, based on recoverable magnetite (Fe₃O₄) associated with Cu mineralization, as not all Fe grades can be attributed to magnetite. ALS Metallurgy provided the Company its findings in the Metallurgy Testing for Nicola Mining – KM8541 report[3], which is available on the Company’s website[4] and filed on Sedar. The composite samples created are described below: Low-grade Copper Composite: Feed assays on the LG composite were conducted by ALS and returned grades of 0.27% Cu and 5.1% Fe. The presence of magnetite in low-grade material provided an economic contribution of approximately 34% and an increase in CuEq of approximately...