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...

Nicola Mining Inc. Drills 73.6 Metres of 1.05% Copper (150 Metres of 0.54%) in Previously Unexplored Zone Located Within the Mineralized Historic Pit Halo

TSX.V: NIM NEWS RELEASE September 25, 2018, Vancouver, BC: Nicola Mining Inc. (TSX.V: NIM), (the “Company” or “Nicola”) is pleased to announce and confirm the presence of a previously unexplored mineralized zone north of the historic Craigmont open pit.  The near-surface zone is located within the boundaries of Nicola’s active Mine Permit M-68.  Nicola targeted the area after historic data and recent mapping from the Company’s 2017 and 2018 Exploration Programs revealed the potential of mineralization north of the pit. The second exploratory diamond drill hole (CC-18-02) targeting the northern extension of the Craigmont Pit Halo (the “Mineralized Halo”) (Figure 1) was located approximately 100 metres from the pit and intercepted 1.05% Copper over 73.6 meters.  The results confirm the existence of an in-situ mineralized halo adjacent to the Craigmont pit that is within the Craigmont Central exploration area. The mineralization within the hole appeared unique because, in addition to chalcopyrite, the presence of bornite was seen for the first time.    Bornite often occurs closer to the source of high-temperature source of copper mineralization. Intercepts from CC-18-02 include: 150 Metres grading 0.54% Cu, including 6 Metres grading 1.05% Cu 7 Metres grading 2.1% Cu 5 Metres grading 9.6% Cu and 1.5 Metres grading 9.8% Cu  Frank Hogel, Chairman commented, “It is becoming increasingly clear that this is a very special project.  The Company understands the importance of combining the zones to create one large consolidated deposit.  We look forward to providing additional exploration and operational updates in subsequent news releases.” Nicola continues to follow up by drilling additional holes to the east and west along the predicted strike orientation...

Nicola Mining Announces Positive Reverse Circulation Drilling Results On Historic Wastepiles

TSX.V: NIM NEWS RELEASE VANCOUVER, B.C., August 10, 2018 – Nicola Mining Inc. (the “Company”) is pleased to announce results on its 20-hole Phase 1 Reverse Circulation drill program (“Phase 1 RC Program”) completed between May 23 to June 8, 2018, at its wholly-owned New Craigmont Project, located near Merritt, British Columbia. The Phase 1 RC Program provides a simple overview of copper grade and sectional volume of the approximate 80-90 million-tonne historical wastepile surrounding the Craigmont Mine pit, as well as insight if any sections merited further exploration.  The Phase 1 RC Program also added to positive 3060-Portal RC drill results, as announced in the September 26, 2017 news release.  Given that the wastepile material was placed in benches there would be no direct mining costs associated with production. Assay results from the drill program are summarized in Diagram 1.  Highlights of the results include: An average grade of 2463 ppm Cu (0.25% Cu) over 40 metres for the deepest RC hole in the program (CC-RC-18-12) Indication of potential high-grade Cu mineralization in the southern side of the waste piles that is believed to also contain the greatest volume On October 3, 2016, the Company announced that it had entered into an Exploration and Material Purchase Agreement with Teck Highland Valley Copper Partnership (“HVCP”), a wholly owned subsidiary of Teck Resources Limited involving mine strip material (refer to Oct. 3, 2016 news release) surrounding the historic Craigmont open pit. A clear zone of interest has been found in the largest volume section of the wastepiles, which is located on the southern side of the pit.  The Phase 1...