Nicola Mining Announces 2018 Diamond Drilling Prgram At New Craigmont Central With Grades Of Up To 1.35% Cueq Over 76.6 Metres

TSX.V: NIM NEWS RELEASE April 08, 2019, Vancouver, BC – Nicola Mining Inc. (the “Company” or “Nicola”) is pleased to announce additional drill results from its 2018 Exploration Program[1] at its wholly-owned New Craigmont Project (the “Project”), located 14 km from Merritt, British Columbia.  Drill results are from the Craigmont Central (“CC”) Zone (Table 1)  and were designed to explore the boundaries of the historic open pit.  The economic contribution from magnetite[2] is taken into consideration in this release and reported as a copper equivalent (“CuEq”). Historically, the average recovered grade of the ore was 1.28% copper[3]. The historic drilling primarily focused on specific lithological units, which have an East-West trend (Figure 1). This led to very little exploration drilling to the north and south of this corridor of high-grade mineralization. Through the review of the historic drill hole database and available historic drill core, it was identified that known copper mineralization was not sampled as it was possibly considered marginal to the high-grade bodies. These low to moderate-grade mineralized zones, peripheral to the mine workings, are key targets within the Craigmont Central area. A total of 8 diamond drill holes totaling 2755 meters were drilled to test low to moderate grades peripheral to the mine open pit in 2018 (Figure 1). The 2018 CC drilling focused primarily to the north of the open-pit and drilled across stratigraphy from north toward the open pit, testing a previously unexplored corridor between the mine and the contact with the Guichon batholith. Of the eight drill holes, three intersected significant mineralization: Hole CC-18-02 intercepted 76.6m at 1.35% CuEq Including 33.65m at 2.45%...

Nicola Mining Announces Positive Results On Copper X-Ray Sorting As A First Step To Copper Ore Upgrading

TSX.V: NIM NEWS RELEASE March 29, 2019, Vancouver, BC – Nicola Mining Inc. (the “Company”) is pleased to announce positive results from Outotec’s Initial Inspection Study, in which select material from the terraces and highly mineralized zones at the wholly-owned New Craigmont Copper Project (“Craigmont Project”) was evaluated. The test work was conducted at Tomra Sorting’s Test Center in Hamburg, Germany. This study successfully demonstrated that the COM Tertiary XRT Sorter can clearly distinguish ore[1] from waste material. The material used in the Initial Inspection was comprised of 29 representative samples of waste, low-grade ore (“LG ore”), ore, and high-grade ore (“HG ore”) (Figure 1). These samples were collected from the terraces and targeted zones that represent ore material at the Craigmont Project. Figure 1: Samples of material tested for copper separation. Waste Material Low-Grade Ore Ore High-Grade Ore The samples were run through a TOMRA COM Tertiary XRT sorter conveyor, which utilises an X-ray transmission (“XRT”) sensor. Succinctly, this XRT sensor x-rays the rocks, which are processed to identify differences in atomic density between copper-containing mineralized material (high atomic density, blue areas in Figure 2) from waste material (low atomic density, red areas in Figure 2). Figure 2: Examples of samples tested with the X-ray transmission (“XRT”) sensor. The processed image shows copper-containing material (blue areas) from waste material (red areas). Classification of material Raw XRT Dual image Processed XRT Dual Energy image Waste rock Low Grade Ore Ore High Grade Ore   This study clearly indicates the ability to differentiate, and thus potentially upgrade, copper sulfide material encountered at Craigmont. The conveyor system has a throughput capacity...

Nicola Mining Announces Completion And Positive Results From Reverse Circulation Drilling On Portal-3060

TSX.V: NIMNEWS RELEASE March 01, 2019, Vancouver, BC – Nicola Mining Inc. (the “Company”) is pleased to announce final results on its 39-hole Reverse Circulation drill program on the 3060-Portal (“3060 RC Program” (Table 1). This program is designed to evaluate the copper equivalent grade and volume of historical material excavated from underground workings of the Craigmont Mine and piled at 3060-Portal (Figure 1). These results confirm significant grades of copper and magnetite, which are combined to create a copper equivalent (“CuEq”)[1]. The historical mine terraces, which equate to approximately 80-90 million-tonnes, surrounding the Craigmont Mine Open pit (Figure 2) and 3060-Portal benefit from having previously incurred all costs associated with mining, which is greater than 50% of the cost of production[2]. The Company previously announced positive 3060-Portal RC drill results, however these results did not incorporate the CuEq contribution from magnetite[3]. The second phase of RC drilling, conducted in 2018, use an updated CuEq calculation[4] for both 2017 and 2018 RC drill holes. The highlights of these results include: An average grade of 2424 ppm Cu and 0.4% CuEq for the 39 drill holesAn average grade of 9095 ppm Cu (1.03% Cu) and 1.08% CuEq for Hole CC-RC-18-63An average grade of 10,332 ppm Cu (1.03% Cu) and 1.27% CuEq for Hole P-34An average grade of 8632 ppm Cu (0.86% Cu) and 1.03% CuEq for Hole P-72 Assay results from the drill program are summarized in Table 1. All results are calculated from surface. Table 1: Composite of Reverse Circulation (“RC”) Drill Results at Portal 3060 Figure 1: Map of Reverse Circulation (“RC”) drill locations proximal to the 3060...

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...

Nicola Mining Repays Senior Secured Debt To Waterton And Closes Tranche One Of Financing

TSX.V: NIM NEWS RELEASE November 27, 2018, Vancouver, BC – Nicola Mining Inc. (the “Company” or “Nicola”) is pleased to announce that it has repaid its entire senior secured debt obligation and interest to Waterton Global Value, LP (“Waterton”).  The Company paid Waterton $663,062 in principal and interest on the senior secured debt obligation, which was the final payment obligation to Waterton.  Waterton has also liquidated its equity position in Nicola. On November 24, 2014, the Company announced that it had completed $7.0 MM in debt financing (the “Debt Financing”) and implemented the announced restructuring of its debts and obligations under the Company’s Plan of Compromise and Arrangement dated August 8, 2014 (the “Plan”).  The repayment to Waterton is the final obligation under the Plan, as the Company successfully exited the Companies’ Creditors Arrangement Act of Canada on, as announced on December 9, 2015. The Waterton senior secured debt facility was the Company’s final obligation under the Plan and releases all security held by Waterton over the Company’s assets.  In addition to releasing security over all assets, Waterton releases its aggregate 2% net smelter returns royalty with respect to production from Nicola’s Treasure Mountain Silver Mine.  The 2% net smelter returns royalty transfers to the investors in the Debt Financing. Peter Espig, Chief Executive Officer commented, “The final repayment of Waterton’s senior secured debt facility marks one of the Company’s greatest milestones since I took the helm as CEO.  Management inherited a company with superior assets under great financial distress.  The ability to grow and increase the value of our assets can only be achieved by a total team...