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...

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...

Nicola Mining Announces Non-Brokered Private Placement

TSX.V: NIM NEWS RELEASE VANCOUVER, B.C., June 25, 2018 – Nicola Mining Inc. (the “Company”) announces that, subject to regulatory approval, it has arranged a non-brokered private placement financing (the “Financing”) of up to 10,000,000 units (each, a “Unit”) at a price of $0.15 per Unit for gross proceeds of up to $1,500,000.  Each Unit will consist of one common share (each, a “Share”) and one-half of one share purchase warrant (each whole warrant, a “Warrant”), with each Warrant entitling the holder to purchase one additional Share at a price of $0.18 per Share for a period of two years from closing.  Insiders may participate in the Financing. Finders’ fees may be payable in connection with the Financing in accordance with the policies of the TSX Venture Exchange (the “Exchange”). Proceeds of the Financing are planned to be used to repay senior secured debt of approximately $1,350,000 and the balance for working capital purposes. All securities issued in connection with the Financing will be subject to a statutory hold period expiring four months and one day after closing of the Financing. Completion of the Financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Exchange.  Red Cloud Klondike Strike Inc. is acting as a finder in connection with the Offering. Nicola Mining Inc. is a junior mining company listed on the Exchange and is in the process of recommencing mill feed processing operations at its 100% owned state-of-the-art mill and tailings facility, located near Merritt, British Columbia. It has already signed four mill profit share agreements with high grade gold...

Nicola Mining Provides Update on Plans for the 2018 Exploration Programs at the New Craigmont Project, British Columbia

TSX.V: NIM NEWS RELEASE VANCOUVER, B.C., May 1, 2018 Nicola Mining Inc. (TSX.V: NIM), (the “Company” or “Nicola”) is pleased to provide an update on the 2018 Exploration Plan at the Company’s 100% owned New Craigmont Project, located near Merritt British Columbia. Nicola’s geological team is finalizing the 2018 Exploration Plan, which will be comprised of 4 drilling programs and a field sampling program: Waste Piles: Reverse circulation drilling (“RC Drilling”) Promontory Hill: Diamond drilling Craigmont Central: Diamond drilling Craigmont West: Diamond drilling Marb Zone: Mapping and channel sampling The finalized plan and a schedule will be released shortly upon completion. 2018 Waste Dump RC Drilling During Craigmont Mine’s operating life between 1961 and 1982, an estimated 34 million tonnes of ore was mined at an average grade of approximately 1.28% copper.  Due to falling copper prices, the mine halted operations with the understanding that it could be reopened in the future.  The Bristow Report[1] highlights that the mine was closed leaving behind an estimated 54.1 million tonnes mineralization at 0.42% Cu surrounding the historical open pit deposit and 27,754 tonnes grading 1.79% Cu left in underground section.  The report also highlights a historic cut-off grade of 0.7%, which is above cut-off grades currently applied at mines in British Columbia that can be as low as 0.15%. Waste rock from Craigmont Mine activities (not processed through the mill) has been stockpiled in terraces immediately adjacent to the historic pit and is inside the Company’s active mine permit (M-68). The size of these stockpiles is estimated to be 80 to 90 million tonnes. On September 26, 2017, the Company announced...

Nicola Mining Announces Proposed Amendments To Subordinated Secured Convertible Debentures

TSX.V: NIM NEWS RELEASE VANCOUVER, B.C., April 23, 2018 – Nicola Mining Inc. (the “Company” or “Nicola”) announces that it intends to amend (the “Amendment”) the secured convertible debentures (each, a “Debenture”) in the aggregate principal amount of $250,000 issued to certain subscribers as previously announced in its News Releases of November 24, 2014, August 8, 2014, May 19, 2015 and May 20, 2015. In connection with the issuance of the Debentures, the Company also issued 250,000 non-transferable common share purchase warrants (each, a “Warrant”), with each Warrant exercisable into one common share of the Company (each, a “Share”) at an exercise price of $0.375 until May 20, 2016 and at $0.50 per Share until May 20, 2019. The Debentures mature on May 20, 2018 (the “Maturity Date”) and bear interest (the “Interest”) at a rate of 10% per annum, which Interest is payable as to 50% in cash and 50% by the issuance of Shares at a price per Share equal to the market price at the time of issuance. The Debentures are also convertible into Shares a conversion price (the “Conversion Price”) of $0.275 per Share at any time, and from time to time, until the Maturity Date. The Company intends to make the following amendments to the Debentures: the Conversion Price of the Debentures be reduced from $0.275 per Share to $0.22 per Share; the Maturity Date will be extended from May 20, 2018 to May 20, 2020; and the exercise price of the Warrants be reduced from $0.50 to $0.275, with a forced conversion in the event that the Shares trade at above $0.3475 for at...