TSX.V: NIMNEWS RELEASE VANCOUVER, BC, November 13 – Nicola Mining Inc. (the “Company”) is pleased to announce a non-brokered private placement (the “Offering”) of up to an aggregate principal amount of $8,000,000 of secured convertible debentures (the “Debentures”) of the Company. Insiders may also participate in the Offering. The Debentures will include the following key terms:…
New Craigmont Exploration Property – comprised of 20 contiguous mineral claims covering approximately 8,456.95 ha, and 10 contiguous mining leases covering approximately 347.35 ha in the prolific Guichon Batholith region. The claims are currently owned 100% by a wholly owned subsidiary of the Company.
Merritt Mill and Tailings Facility – approximate $23,400,000 mineral processing facility located on an $8,000,000 property, and a $1,800,000 fully lined tailings facility property located near Merritt BC.
Treasure Mountain Exploration Property – 100% owned high-grade silver/lead/zinc vein deposit, and the claim holdings consist of 51 mineral tenures comprising 21 legacy claims, 100 cell units and one Crown Grant for a total of approximately 2,850 hectares (7,000 acres).
Sand and Gravel Property – The Merritt Mill Property is host to an active run gravel pit that has a tolling agreement in place for up to 60,000 tonnes per year with a local cement company.