Nicola Mining Announces Successful Appeal To CRA

TSX.V: NIM NEWS RELEASE VANCOUVER, BC, July 11, 2019 — Nicola Mining Inc. (TSX-V: NIM) (the “Company” or “Nicola”) is pleased to provide an update on its Notice of Objection filed with the Canada Revenue Agency (“CRA”) on July 19, 2018 concerning certain Canadian Exploration Expenses (“CEE”) claimed by investors who purchased flow-through securities issued by the Company in 2012, for which tax deductions had previously been disallowed by the CRA. The Company has been advised by the CRA Appeals Officer assigned to the matter that sufficient CEE had in fact been incurred by the Company at the relevant times in order to allow renunciation of CEE to these  investors (the “CRA Decision”). The Company shall communicate with each group of affected investors to provide notice of the consequences of the CRA Decision, which will vary for each group.  This information will assist these investors with their filings with the CRA. The Company is also pleased to report that as a result of the CRA Decision the Flow-through Obligation of $4,106,780 as in the most recent interim financial statements will be reversed and associated gains and losses will be reflected in the interim financial statements to June 30, 2019. Nicola’s CEO Peter Espig stated “We are pleased with the outcome of the CRA Notice of Objection process, which was concluded in less than 12 months. This significant accounting issue has been removed from the Company. For almost three years the Company has dealt with a CRA audit, reassessment and Notice of Objection.  This long arduous process has resulted in a very positive outcome.  We can now move forward and...

Nicola Mining Announces Non-Brokered Private Placement With Strategic Mining Investment Group

TSX.V: NIM NEWS RELEASE June 28, 2019, Vancouver, BC – Nicola Mining Inc. (the “Company”) is pleased to announce a non-brokered private placement anchored by an international mining investment group (the “Investors”) that has set up a Canadian subsidiary for the investment.  Insiders will also participate in the private placement, which will consist of the issuance of up to 7,000,000 units (each, a “Unit”) at a price of $0.10 per Unit for gross proceeds of up to $700,000 (the “Offering”).  Insiders may also participate in the Offering. The Investors have affiliated mining operations in both Africa and Asia and are long-term investors. Each Unit will consist of one common share of the Company (each, a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant entitling the holder to purchase one Share at a price of $0.15 per Share for a period of two years following the closing of the Offering (the “Closing”). All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to the approval of the TSX Venture Exchange (the “Exchange”). Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The aggregate gross proceeds from the sale of the Offering will be used for general working capital. None of the securities...

Nicola Mining Provides Corporate Upadate And Commences 2019 Exploration Program At New Craigmont Copper Project

TSX.V: NIM NEWS RELEASE May 27, 2019, Vancouver, BC – Nicola Mining Inc. (TSX.V: NIM), (the “Company” or “Nicola”) is pleased to announce that it has received all required permits and has commenced its 2019 Exploration Program (the “2019 Program”).  The Company has contracted Western Exploration Diamond Drilling Ltd. to conduct the diamond drilling program (“DD Program”), which started on May 23, 2019.   Overview The New Craigmont Project does not conform to a “typical” exploration pipeline.   The Project is a permitted historic mine site with active permits under M-68.  In addition, extensive work done on the mine (c.1958-c.1982) was focused primarily on ore definition, development and extraction of the mineral inventory, known at the time. This work resulted in a cumulative production of 36.75 million tons of ore grading 1.28% Cu[1].  However, the project had limited exploration beyond its historic operations. The exploration strategy at New Craigmont Project can be summarised in Figure 1. The primary objective is to prove the historic un-exploited mineral inventory through target definition drilling on in-situ ore bodies and underground surveying to delineate volume of material remaining in sub-level caves in Craigmont Central area.  In tandem, a NI-43-101 Mineral Resource is in the process of being defined on the historic Mining Terraces. Figure 1: Exploration Targets / Pipeline at New Craigmont Project Diamond Drilling Targets: The first holes (“Hole 1&2”) aim to intersect the unexploited, and incompletely delineated Number 3 ore body (Figure 2).  The Number 3 ore body is characterized by silicified sediments with fine-grained chalcopyrite and little to no associated iron (Fe), thus differentiating it from the extracted ore bodies number...

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...