VANCOUVER, B.C. September 18, 2017 – Nicola Mining Inc. (the “Company”) is pleased to announce that it has entered into thirty-year ash management contract (the “Agreement”) with Merritt Operations Services Limited Partnership (“MOSLP”).
MOSLP is a partnership backed by a global leader in optimized resource management, focused on supplying the Thompson Nicola Region clean electrical power by operating a sustainable 40-megawatt, biomass-fired power plant energy power plant, located in the city of Merritt, British Columbia. Nicola Mining Inc. is a junior mining focused on exploration of its wholly-owned New Craigmont copper project and operating its Merritt Mill, which is capable of processing both gold and silver mill feed. The Company also prides itself on being an environmental conscious miner that values shareholder value, as well as the environment.
Under the 30 year Agreement the Company will accept up to 7500 dry tons of ash generated from burning renewable wood, which includes scrap wood from regional lumber mills, for a fee that includes price escalation clauses. The Company will also receive an additional fee for any additional tonnage.
The Company plans to place the ash, which will be blended with sand and plant seeds, onto the sandy tailings area to allow growth of vegetation native to the region. The seeding and irrigation from onsite ground wells is expected to facilitate plant growth and mitigate dust.
Peter Espig, Chief Executive Officer of the Company, commented, “We are very excited to enter into an agreement with MOSLP, a partnership involving a global leader in renewable energy solutions. We are also excited to enter into a long-term contract that allows the Company to augment its environmental focus, as well as create a long-term positive revenue stream.”
Nicola Mining Inc. is a junior mining company listed on the TSX Venture Exchange, and has a fully-permitted 200 tonne per day custom mill that recommenced operations in June 2016. Its 100% owned state-of-the-art mill and tailing facility, located near Merritt, British Columbia, is capable of processing both gold and silver mill feed via gravity and floatation processes. The Company has 100% of the New Craigmont Property (Thule Copper Property) covering 10,084 hectares along the southern end of the Guichon Batholith. In addition, the Company also owns 100% of Treasure Mountain, its high-grade silver property, and a gravel pit, which is located adjacent to its milling operations. The Company is about to commence further exploration on its New Craigmont Property.
On behalf of the Board of Directors
CEO & Director
For additional information
Contact: Peter Espig
Phone: (604) 647-0142
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Statements
This news release contains projections and forward-looking statements that involve various risks and uncertainties regarding future events. Such forward-looking statements are based on current expectations of management and a number of risks and uncertainties and are not guarantees of future performance of the Company. These statements include statements regarding the Company’s expected processing timing and capabilities, statements regarding the milling and profit sharing agreements and statements regarding potential future plans. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including the inability of the Company to effect the expanded operations; the timing of delivery of material to the Mill site; the timing and price of delivery and processing of same; and other factors beyond the Company’s control. Actual results and future events could differ materially from those anticipated in such forward-looking statements. These and all subsequent written and oral forward-looking statements are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not assume any obligation to update any forward-looking statements in this news release should circumstances or management’s estimates or opinions change.