TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C., August 25, 2016 – Nicola Mining Inc. (the “Company”) is pleased to announce that, on August 24, 2016, it completed a non-brokered private placement financing (the “Financing”) as further described in its news release of August 23, 2016. In connection with the closing, the Company sold an aggregate of 18,337,665 units (each, a “Unit”), at a price of $0.12 per Unit, for gross proceeds of $2,200,519.80. Each Unit consists of one common share of the Company (each, a “Share”) and one share purchase warrant (each, a “Warrant”). Each Warrant is exercisable into one additional Share at a price of $0.18 per Share for a period of three years from the date of issuance.

Proceeds from the Financing will be used for general working capital.

The Company paid cash finders fees of $29,792 and issued 248,266 share purchase warrants (the “Finder’s Warrants”) to three finders in connection with certain subscriptions in the Financing. The Finder’s Warrants have the same terms as the Warrants.

Insiders of the Company were issued an aggregate of 933,333 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 insiders is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company’s shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the shares issued to the related parties did not exceed 25% of the Company’s market capitalization.

The securities issued under the Financing, and the Shares that may be issuable on exercise of the Warrants and the Finder’s Warrants, are subject to a statutory hold period expiring on December 25, 2016.

On behalf of the Board of Directors

“Peter Espig”

Peter Espig

CEO & Director

For additional information

Contact:              Peter Espig
Phone: (604) 647-0142
Email: peter@nicolamining.com

Disclaimer for Forward-Looking Information

Certain statements in this press release related to the Financing and the securities issuable thereunder are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the proposed use of proceeds of the Financing and the resale restrictions relating to the securities issued. Such statements are subject to inherent risks and uncertainties that may cause such statements to become inaccurate, including factors that cause the Company to spend the proceeds otherwise than as contemplated in this news release, and other factors beyond the control of the Company. Such forward-looking statements should be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable laws.

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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C., September 7, 2016 – Nicola Mining Inc. (TSXV: NIM) (the “Company” or “Nicola”) is pleased to report that significant copper mineralization has been intersected on the Thule Copper Property located 14 km northwest of Merritt, British Columbia.

The Thule Copper Property covers 10,084 hectares along the southern end of the Guichon Batholith and is 100% owned by Nicola. The diamond drilling program was designed to test 3 distinct zones on the Thule Copper Property, referred to as Embayment, Titan Queen, and Eric. Total diamond drilling meterage for the 2016 program at the property was 1,084 metres in 5 holes. Copper mineralization was intersected in all 5 holes, highlighted by an intersection of 1.11% copper over 85.92 metres in THU-002, through the Embayment Zone, located approximately 1 km northwest of the past-producing Craigmont Mine.

Results from the drilling program support the Embayment Zone as a fault-offset, westward continuation of the skarn zone that hosts the Craigmont deposit. A follow-up drill program will be designed to determine continuity of mineralization further west along strike and at depth from THU-002.

In addition, drilling at Titan Queen Zone encountered alteration and mineralization features commonly observed in association with porphyry-style copper deposits, including the Highland Valley porphyry complex located 50 km north of Thule Property. Follow-up work will be planned to outline drill targets over a broader area and further test porphyry-style mineralization potential.

Table 1. Significant drill hole intersections from the 2016 Thule Property drilling program.

* The intersected length of mineralization is reported throughout this release. True widths are not determined as the geometry of the mineralized zone is uncertain.

Table 2. Drill hole location, elevation, azimuth, dip, depth and zones for the 2016 Thule drilling program. Collar positions were determined by differential GPS methods in UTM NAD 83 Zone 10.

Peter Espig, Chief Executive Officer of the Company, commented, “We are extremely encouraged with the results from our 2016 Exploration Program on the Thule Copper Property. The 1.11% Cu over 85.92 metres, including 13.83 metres grading 2.71% Cu, highlight the high grade mineralization of the property. Our team is also very excited with key features observed at the Titan Queen Zone, which is more indicative of a porphyry-style copper deposit. It is well known that the historic Craigmont Mine is a prolific skarn, but the source of the mineralization has yet to be confirmed. In addition to the significant results, the project is further augmented because Nicola’s Thule Copper Project is already associated with a current mine permit.”

Exploration Summary
Three priority target areas were identified from Nicola’s compilation of historical data (figure 1.). The 2016 drilling program was designed to obtain preliminary information in order to establish the geological context of previous work and better understand exploration potential.

Eric Zone
The Eric Zone consists of mineralized diorite intrusions and breccia exposed in a 2.1-metre-deep shaft excavated in the 1930’s. Prominent north and northwest striking faults cut mineralization. The shaft is located 2.5 km east and along strike of the Craigmont open pit. Previous drilling completed during the 1970’s focused on testing magnetic anomalies aligned with the strike of the Craigmont skarn. THU-001 and THU-001A are positioned underneath the shaft where there had been no previous drilling. THU-001 was drilled to a depth of 80.47 metres and intersected a diorite breccia with short intervals of chalcopyrite mineralization. The hole was abandoned before the planned depth due to difficult ground conditions. THU-001A reached its planned depth of 235 metres and encountered chalcopyrite associated with tourmaline, quartz, and brecciated diorite.

Titan Queen Zone
The Titan Queen Zone is exposed by three 20-metre-long trenches spaced approximately 25 metres apart. Excavated in the 1930’s, the trenches were the original target of Craigmont Mines Limited in 1957. Irregular zones containing hydrothermal quartz, magnetite, tourmaline, chalcopyrite, and trace bornite with minor supergene copper oxides are exposed in the trenches.

THU-003 and THU-004 both encountered chalcopyrite-mineralized hydrothermal breccia emplaced into propylitically altered, equigranular, fine-grained quartz diorite. The historical drill holes were completed in the 1970’s. The drill holes and trenches are located on the southeastern edge of a 400 x 300 metre magnetic high. There is no historical geological mapping or detailed ground geophysical surveys completed over the magnetic anomaly.

Embayment Zone
The Embayment Zone was explored by Craigmont Mines Limited through several surface and underground drill holes in the 1978 and 1985. Chalcopyrite mineralization and associated skarn alteration consisting of magnetite, garnet, actinolite and epidote is equivalent to the western side of the Craigmont skarn zone. Drill hole S-100, which was drilled by Craigmont Mines Limited in 1978, intersected 0.47% copper over 149.36 metres (from historical data and non-compliant with the reporting standards required by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”)). Christopher James Gold Corp. attempted to drill test the Embayment zone in 2005 but was unable to penetrate the post-mineral rock formation.

The Embayment Zone represents the faulted western continuation of the Craigmont zone (figure 2). The Embayment Zone is translated approximately 300 metres northwest along the northwest-striking Embayment Fault. The Embayment Fault is visible in high-resolution airborne magnetic data acquired in 2012 and confirmed by THU-002, where the Embayment mineralized zone terminates against the fault.

For further details on the Thule Copper Property, see the technical report entitled “TECHNICAL REPORT on the THULE COPPER – IRON PROPERTY, Southern British Columbia, Canada”, filed on May 8, 2013 on SEDAR at www.sedar.com.

Sample Preparation and Quality Control
Supervision and organization of the diamond drill program was undertaken by Brian May, P.Geo., a geological consultant for Nicola Mining Inc.

True widths of the drill hole intercepts reported in this press release have not been determined. All drill core was cut on-site and shipped to Actlabs (ISO 17025 Certified) in Kamloops, British Columbia for analysis. Samples were analyzed using an ICP Aqua Regia 38-element (IA3) package and fire assay gold (IA2). Any samples greater than 10,000 ppm copper were tested using over-limit mass spectrometry methods (8-AR ICP-MS). Certified reference standards and rock blanks were placed in the sample stream with a ratio of approximately one sample out of 10. Assay intervals have been calculated with no cut-off value. Drill core sample lengths varied from 0.57 metres to 3.5 metres in length, averaging 1.9 metres. Sample lengths were chosen based on geological variation and recovery within the drill core.

Qualified Person
The scientific and technical content of this press release was reviewed and approved by Mr. Brian May, P.Geo., who is classified as a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 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.

On behalf of the Board of Directors

“Peter Espig”

Peter Espig

CEO & Director

For additional information

Contact:               Peter Espig
Phone: (604) 647-0142
Email: peter@nicolamining.com

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.

Figure 1. Exploration project areas that were drilled by Nicola Mining Inc. in the 2016 exploration program. A total of 5 drill holes, totaling 1,084 metres, were completed. Internal claims are not part of the Thule property.

Figure 2. Location of diamond drill hole THU-002 in the Embayment Zone. The Embayment Zone is a fault offset portion of the Craigmont Zone.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C., September 15, 2016 – Nicola Mining Inc. (the “Company”) is pleased to announce that it has shipped to MRI Trading AG, (the “Buyer”) approximately 190 dry metric tonnes of gold and silver concentrate grading approximately 100 grams Au and 606 grams Ag per tonne, for an aggregate total of approximately – 610 troy ounces Au and 3,702 troy ounces Ag.

The source of the mill feed that produced the concentrate is from Gavin Mines Inc. (“Gavin Mines”). Terms of the Milling and Profit Share Agreement (the “GMI Agreement”) were announced in the Company’s May 31, 2016 news release.

The Company has received the intitial payment for the concentrate and will receive final payment upon confirmation of grade and weight. The Company has distributed a portion of the proceeds to Gavin Mines Inc. under terms of the GMI Agreement.

Frank Hogel, Chairman of the Company, commented, “Nicola holds a unique position in the junior mining sector because it is able to generate cash flow yet also provide significant exploration upside, as highlighted in its September 7, 2016 exploration news release on Thule Copper Property.”

Nicola Mining Inc. is a junior mining company listed on the TSX Venture 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 five mill profit share agreements with gold properties. The fully-permitted mill is able to process both gold and silver mill feed via gravity and floatation processes.

The Company also owns 100% of the 10,084 hectare Thule Copper Property (the located at the southern end of the Guichon Batholith approximately 14 km northwest of Merritt, Treasure Mountain, its high grade silver property, and a gravel pit, which is located adjacent to its milling operations.

On behalf of the Board of Directors

“Peter Espig”
Peter Espig
CEO & Director

For additional information

Contact: Peter Espig
Phone: (604) 647-0142
Email: peter@nicolamining.com

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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C., October 3, 2016 – Nicola Mining Inc. (TSXV: NIM) (the “Company”) is pleased to announce that it has entered into an Exploration and Material Purchase Agreement (the “Agreement”) with Teck Highland Valley Copper Partnership (“HVCP”), a wholly owned subsidiary of Teck Resources Limited.

Nicola Mining Inc. owns 100% of the Thule Copper Property (the “Property”) that covers 10,084 hectares along the southern end of the prolific copper-rich Guichon Batholith.  The Property is located approximately 20 kilometres south of the Highland Valley Copper mine, the largest open pit copper mine in Canada which is also located within the Guichon Batholith.

The Company will work with HVCP to conduct an exploration program on the historic stockpiles on the Property in order to gather information regarding the grade and other characteristics of the stockpiled material.   Following the exploration campaigns, HVCP will have the right to purchase stockpile material mined by the Company.  The Company will carry out the exploration and mining program, and HVCP has agreed to reimburse the Company for certain costs related to the exploration and mining programs.

If the mining program proceeds, HVCP will to pay the Company as follows for purchased material:

* Average LME copper price for the calendar quarter
HVCP will purchase material on a per tonne basis, as described above.  In addition, it agrees to fund the Company for certain costs associated with reclamation and re-sloping work for areas in which stockpiles have been removed.

About the Property

The historic Craigmont Mine, which is part of the Thule Copper Property, operated as an open-pit mine by Craigmont Mines Ltd. from 1961 to 1967 and as an underground sub-level cave mine from 1967 to 1982 and is located on the southern section of the Property.  The Craigmont Mine produced approximately 34,000,000 metric tonnes of ore averaging 1.28% copper from Body No. 1 and Body No. 2.  Craigmont Mine’s historic cut-off grade was 0.7% Cu.

McElhanney Consulting Services Ltd. of Vancouver BC, an ISO 9001 (2008) certified company, flew a LiDAR and air photo survey covering approximately 108 square km of the Thule property. Using the Leica ALS70 LiDAR unit, data was captured at a ground-sampling distance of four points per metre, providing a highly accurate topographic dataset. High-resolution, 20cm pixel colour orthophoto was created for selected areas of the property.  Stockpiles are estimated to be 80-90 million tonnes.

On September 7, 2016 the Company announced results from its highly successful five-hole drill exploration program which highlighted an intersection of 1.11% copper over 85.92 metres in THU-002, through the Embayment Zone, located approximately 1 km northwest of the past-producing Craigmont Mine.

Results from the drilling program support the Embayment Zone as a fault-offset, westward continuation of the skarn zone that hosts the Craigmont deposit. A follow-up drill program will be designed to determine continuity of mineralization further west along strike and at depth from THU-002.

President and CEO, Peter Espig, commented, “We are very pleased to team with HCVP on this exciting opportunity.  The approximate 88 million tonnes of Stockpiles fed by a known historic cut-off grade of 0.7% Cu could be a mutually beneficial project to both companies by providing additional cash flow through supply of attractive mill feed to HVCP.”

Nicola Mining also announces that it has engaged Mocking Jay Inc. and Gold Stock Trades for investor relations and has issued a total of 175,000 stock options.

Nicola Mining Inc. is a junior mining company listed on the TSX Venture 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 producers. The fully-permitted mill is able to process both gold and silver mill feed via gravity and floatation processes. 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.

On behalf of the Board of Directors

“Peter Espig”

Peter Espig
CEO & Director

For additional information please contact:
Peter Espig
Phone: (604) 647-0142
Email: peter@nicolamining.com

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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C. December 2, 2016 – Nicola Mining Inc. (the “Company”) is pleased to announce that it will be conducting a flow-through financing pursuant to which the Company will issue up to 3,500,000 flow-through units (each, a “Flow-Through Unit”) at a price of $0.20 per Flow-Through Unit for gross proceeds of up to $700,000 (the “Offering”).

Each Flow-Through Unit will consist of one common share of the Company (each, a “Flow-Through Share”), issued on a “flow-through” basis pursuant to the Income Tax Act (Canada) and one-half of one transferable common share purchase warrant (each whole warrant, a “Flow-Through Warrant”), with each Flow-Through Warrant entitling the holder to acquire one common share of the Company (each, a “Warrant Share”) at a price of $0.35 per Warrant Share for a period of three years from the closing of the Offering.

Finders’ fees may be payable in connection with the Offering in accordance with the policies of the TSX Venture Exchange (the “Exchange”).

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 a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Exchange.

The aggregate gross proceeds from the sale of the Offering will be used for further exploration on its wholly-owned Thule Project, which covers an area of 10,084 hectares along the southern end of the Guichon Batholith and is adjacent to Teck Resources Ltd.’s Highland Valley Copper, Canada’s largest copper mine.

In its news release of September 7, 2016, the Company announced significant copper mineralization had been intersected in its 2016 drilling program of 1,084 metres in 5 holes. As highlighted in the news release, copper mineralization was intersected in all 5 holes, highlighted by an intersection of 1.11% copper over 85.92 metres in THU-002, through the Embayment Zone, located approximately 1 km northwest of the past-producing Craigmont Mine.

The Company hopes to increase the scale of exploration and will focus on two key zones, the Embayment Zone and the Titan Queen Zone.

Embayment Zone:

Chalcopyrite mineralization and associated skarn alteration consisting of magnetite, garnet, actinolite and epidote is equivalent to the western side of the Craigmont skarn zone. Drill hole S-100, which was drilled by Craigmont Mines Limited in 1978, intersected 0.47% copper over 149.36 metres (from historical data and non-compliant with the reporting standards required by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”)). The Embayment Zone is a known continuation of the Craigmont Zone, as highlighted in Figure 2 of the Company`s September 7, 2016 news release. The exploration program will focus on westward expansion of the skarn as THU-002 is believed to be on the eastward boundary of the zone.

Titan Queen Zone

The 2016 exploration program on the Titan Queen comprised of 2 holes, THU-003 and THU-004, both of which encountered chalcopyrite-mineralized hydrothermal breccia emplaced into propylitically altered, equigranular and fine-grained quartz diorite. The Company is extremely encouraged by its geological mapping program, which was completed on November 1, 2016. The zone is defined by a northeast-trending domain of massive magnetite-quartz – chalcopyrite – bornite veining, including brecciated sections with associated chlorite alteration. The size of the domain is 500 metres by 150 metres as a series of 1 to 10 metre-wide steeply dipping, parallel and possibly inter-fingering ribbons through host diorite. Mapping also defined a chlorite alteration zone of 1.0 km by 700 metres surrounding the magnetite veins. Mineralization and alteration is indicative of a porphyry zone and is likely part of a larger hydrothermal system. Its location is within the Guichon Batholith which home to the largest copper mine in Canada.

Qualified Person

The scientific and technical content of this press release was reviewed by Mr. Chris LeClair, G.I.T. and verified by Mr. Kevin Wells, P.Geo, who is classified as a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 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.

On behalf of the Board of Directors

“Peter Espig”

Peter Espig
CEO & Director

For additional information contact:

Peter Espig
Telephone: (778) 385-1213

Email: peter@nicolamining.com

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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C., December 14, 2016 – Nicola Mining Inc. (the “Company”) is pleased to announce that it has completed its non-brokered private placement (the “Financing”) as further described in its news release of December 2, 2016. In connection with the closing of the Financing, the Company sold an aggregate of 3,500,000 units (each, a “Unit”) at a price of $0.20 per Unit for gross proceeds of $700,000. Each Unit consists of one common share of the Company (each, a “Share”), issued on a “flow-through” basis pursuant to the Income Tax Act (Canada) and one-half of one transferable common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant entitling the holder to acquire one common share of the Company (each, a “Warrant Share”) at a price of $0.35 per Warrant Share for a period of three years from the closing of the Financing.

The Company paid cash finder’s fees of $45,500 and issued 227,500 share purchase warrants (the “Finder’s Warrants”) to three finders in connection with certain subscriptions in the Financing. The Finder’s Warrants have the same terms as the Warrants.

An Insider of the Company was issued 375,000 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 Company’s shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the shares issued to the related parties did not exceed 25% of the Company’s market capitalization.

The securities issued under the Financing, and the Shares that may be issuable on exercise of the Warrants and the Finder’s Warrants, are subject to a statutory hold period expiring on April 14, 2017.

The aggregate gross proceeds from the sale of the Financing will be used for further exploration on its wholly-owned Thule Project, which covers an area of 10,084 hectares along the southern end of the Guichon Batholith and is adjacent to Teck Resources Ltd.’s Highland Valley Copper Mine, Canada’s largest copper mine.

The Company also announces that it has granted 400,000 stock options to a director of the Company for the purchase of up to 400,000 common shares of the company pursuant to its Stock Option Plan. Each option is exercisable for a period of 5 years at a price of $0.17 per common share.

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 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.

On behalf of the Board of Directors

“Peter Espig”

Peter Espig

CEO & Director

For additional information contact:

Peter Espig
Telephone: (778) 385-1213
Email: peter@nicolamining.com

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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C., January 10, 2017 – Nicola Mining Inc. (the “Company”) is pleased to announce that it has shipped to MRI Trading Ag, (the “Buyer”) 296.35 dry metric tonnes of gold and silver concentrate grading 97.116 grams Au and 535.491 grams Ag per tonne, for an aggregate total of approximately 28,780.49 grams Au (925.3 troy ounces) and 158,694.1 grams Ag (5102.1 troy ounces).

The source of the mill feed that produced the concentrate is from Gavin Mines Inc. (“Gavin Mines”). Terms of the Milling and Profit Share Agreement (the “GMI Agreement”) were announced in the May 31, 2016 news release.

The Company has received the intitial payment for the concentrate and will receive final payment upon grade confirmation and final processing by the smelter. The Company has distributed a portion of the proceeds to Gavin Mines under terms of the GMI Agreement.

The Company also announces that it has sold Thompson Nicola Region District Lot 1608 (Kamloops Division of Yale Land District: PID: 005-729-360) to a local rancher for an aggregate amount of $75,000. The 46 acre lot, which is located on the southwestern section of Nicola’s nearly 900 acre freehold property, is removed from the Company’s milling operations and was already used by local ranchers.

Peter Espig, Chief Executive Officer commented, “2016 saw the Company achieve numerous milestones through a total team effort. This year we will continue to focus on environmentally friendly operations while enhancing communications with the local community. The success of the 2016 Exploration Program (announced in the September 7, 2016 new release), which included an intersection of 1.11% copper over 85.92 metres in THU-002, highlights the exploration potential of our wholly-owned Thule Copper Property.”

Nicola Mining Inc. is a junior mining company listed on the TSX Venture 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 five mill profit share agreements with gold properties. The fully-permitted mill is able to process both gold and silver mill feed via gravity and floatation processes.

The Company also owns 100% of the 10,084 hectare Thule Copper Property (the located at the southern end of the Guichon Batholith approximately 14 km northwest of Merritt), Treasure Mountain, its high grade silver property, and a gravel pit, which is located adjacent to its milling operations.

On behalf of the Board of Directors

“Peter Espig”
Peter Espig
CEO & Director

For additional information

Contact: Peter Espig
Phone: (604) 647-0142
Email: peter@nicolamining.com

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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C. January 23, 2017 – Nicola Mining Inc. (the “Company”) is pleased to announce results of historic and resampled diamond drill core from hole S-100. Hole S-100 was originally drilled in January 1978 on the Embayment target located on the Thule property 10 km west of Merritt, B.C.

Early in January 2017, Nicola Mining Inc. geologists re-sampled S-100, an historic surface drill hole from the Craigmont Mine. This hole was drilled into the Embayment target; a target that was drill tested by Nicola Mining in their 2016 drill program with hole THU-002. The Company’s news release dated September 7, 2016 includes one Embayment Zone hole, THU-002 that intersected 1.11% Cu over 85.92m. Hole S-100 was collared approximately 65 metres southeast of THU-002 and drilled a total of 590.70 metres (1938.0 feet). Nicola Mining sampled an additional 64.49 metres (228 feet) of altered and weakly mineralized core from where original sampling stopped at 421.23 metres (1382 feet). The results of the historic sampling of S-100 include sections of 0.92% Cu over 61.9 metres within a section of 116.7 metres grading 0.54%

Re-sampling S-100 entailed locating and recovering the core in from the original Craigmont core racks, re-establishing drill core depths using box footage labels and original footage blocks that remained in the core boxes. The last available core was from a hole depth of 490.73 metres (1610 feet) as indicated on the core box marking. This depth was used to verify depths from block markings on preceding core and confidently establish downhole depths of samples collected at 2 metre intervals. Hole S-100 was drilled on an azimuth 053 degrees and a dip of -52 degrees. Core Sizes were HQ from 184.10 metres (604 feet) to 277.37 metres (910 feet) and NQ from 277.37 metres (910 feet) to the end of hole at 590.70 metres (1938 feet).

The end of S-100 is approximately 143.00 metres northwest and 140.0m below the end of hole for THU-002, this indicates an area of untested potential mineralization.  

Nicola Mining sampled the interval from 414.30 to 490.70 metres (1359.25-1610.00 feet), overlapping the original samples by 6.94 metres (22.77 feet).

Peter Espig, CEO of Nicola Mining Inc., commented, “We are very encouraged by these results as the 140-metre distance between the two drill holes highlights the potential of an exciting mineralized zone. The Company will conduct work during 2017 to delineate and define the zone, which is open in multiple directions.”

Qualified Person

The scientific and technical content of this press release was reviewed by Mr. Chris LeClair G.I.T. and verified by Mr. Kevin Wells, P.Geo., who is classified as a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Nicola Mining Inc. is a junior mining company listed on the TSX Venture Exchange, and has a fullypermitted 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 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.

On behalf of the Board of Directors

“Peter Espig”

Peter Espig
CEO & Director

For additional information contact:

Peter Espig
Telephone: (778) 385-1213
Email: peter@nicolamining.com

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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C. April 6, 2017 – Nicola Mining Inc. (the “Company” or “Nicola”) is pleased to announce that it has entered into a long-term Mining and Milling Profit Share Agreement (“LT Agreement”) with Gavin Mines Inc. (“Gavin Mines”). On May 31, 2016, the Company announced that it had entered into a Milling and Profit Share Agreement with Gavin Mines. The Company subsequently announced that it had commenced milling operations on June 16, 2016. Under the original Milling and Profit Share Agreement Gavin Mines shipped approximately 5,700 tonnes of stockpile material that the Company processed and produced approximately 47,193 grams Au (1,517.3 troy ounces) and 249,628 grams Ag (8,025.7 troy ounces). Gross proceeds for the stockpile material was approximately USD $1,706,711.

Whereas the original agreement focused on processing a stockpile, the four-year LT Agreement will focus on material mined from the Gavin Mine’s Dome Mountain (the “Mine Site”), which is located near Smithers, British Columbia. The LT Agreement replaces and supersedes the original 2016 agreement.

Pursuant to the LT Agreement, Gavin Mines has agreed to ship up to 40,000 tonnes of mill feed per year to the Company’s 200 tonne per day mill facility (the “Mill”), located 14 kilometers from Merritt, British Columbia. On April 2016, the Company announced that it had received an amendment to its mine permit, M-68, allowing it to process third party material. Because the Mill is centrally located in British Columbia, maintains a fully-lined tailings facility and is constructed on a wholly-owned freehold mine site, it can serve as a project facilitator / consolidator for BC-based small-to-mid sized mine projects.

In Linden Mining and Consulting’s 2012 Update Report, which was not filed with the BCSC, the Mineral Reserve tonnes was increased to 146,992 tonnes. Average grades are as follows:

• Gold: 11.61 grams Au per tonne, using a cutoff grade of 6.0 grams / tonne, and;
• Silver: 100.8 grams Ag per tonne

Note: the “Probable Mineral Reserve” changed to “Mineral Reserve.” This has been reviewed by Daryl Hanson, QP, PGeo.

Under the LT Agreement, Gavin Mines will receive up to C$263.50 for all aspects associated with mining, operations, and transportation of the material to the Mill, while the Company will receive up to C$55.00 for processing of the material. In addition, there are costs associated with assays and sale of concentrate that will be shared by both parties. In order to maximize revenues and profitability, material will be sorted at the Mine Site to prior to shipping to the Mill, with a targeted above average grades of the 2012 Update Report. The LT Agreement is intended to provide the Company with a stable source of cash flow revenue and utilization of the Mill.

The Company has continued to upgrade its approximate $22.0 million mill processing facility, which was completed in 2013, with the intention of increasing throughput capacity. The modern facility is constructed with the intention of minimal environmental impact.

Nicola continues to monitor the option of opening and commencing mining activity on its wholly-owned Treasure Mountain Mine. Mining activity would commence by extracting 14,000 tonnes of material from Level 1 Stope 2. Per the technical report entitled “Technical Report, Project Update Treasure Mountain Property Tulameen River Area, BC, Canada” dated June 7, 2012, Level 1 Stope 2 contains a resource of 430,000 oz. Ag, 1,590,000 lbs. Pb, and 940,000 lbs. Zn. The Mill has the permit capacity to process the material from both Treasure Mountain and Gavin Mines and is considering further mill modifications to allow it to process two material sources concurrently.

Thule Copper Property. The Company continues to increase the emphasis on its wholly-owned Thule Copper property. It has submitted a notice of work for its 2017 drill program that will focus primarily on the Embayment and Titan Queen Zones. In its 2016 Exploration Program the Company intersected 1.11% copper over 85.92 metres in the Embayment Zone. Nicola also continues to prepare for exploration on its waste dumps and has entered into an Exploration and Material Purchase Agreement with Teck Highland Valley Copper Partnership, a wholly owned subsidiary of Teck Resources Limited, as announced in the Oct. 3, 2016 news release.

Nicola Mining Inc. is a junior mining company listed on the TSX Venture Exchange, and is in the process of recommencing mill feed processing operations at its 100% owned modern mill and tailings facility, located near Merritt, British Columbia. The fully-permitted mill is able to process both gold and silver mill feed via gravity and floatation processes. The Company has 100% of the 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.

On behalf of the Board of Directors

“Peter Espig”
Peter Espig
CEO & Director

For additional information

Contact: Peter Espig
Phone: (604) 647-0142
Email: peter@nicolamining.com

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, including information relating to the quantity and quality of projected mill feed and concentrate produced, 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 may not be the quantity and quality of mill feed and concentrate as expected; 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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C. July 24, 2017 – Nicola Mining Inc. (the “Company”) is pleased to announce results of an Induced Polarization (IP) geophysical survey over Promontory Hill, an area of high interest on the Company’s wholly-owned New Craigmont Project.  The New Craigmont Project, which the Company had previously referred to as Thule Copper is the site of the historic Craigmont Copper Mine, located near Merritt, BC and adjacent to Tech Resources Limited’s Highland Valley Copper.

In November of 2016 a review of historical geophysics on the Promontory Hill, was initiated by Nicola Mining Inc. and conducted by Dr. Jules Lajoie. Ph.D. Geophysics. The review resulted in a request for digital data, which was subsequently provided by Frontier Geosciences Inc. (Frontier) on its 2005 3-Dimensional (3D) IP survey it had conducted over Promontory Hill in 2005 (Figure 1). Given Promontory Hill’s potential of mineralization and the significant variance in conductivity and chargeability between host and intrusive rocks the variance utilized in the original 2005 3D model was expanded (Figure 2).

Figure 1: Original 2005

Figure 2: Expanded Variance

The impact of Frontier expanding the variance on its original survey provided significant and exciting clarity on the section and prompted the Company to engage Scott Geophysics Ltd. to conduct a 2-Dimensional (2D) IP survey. The goal of the survey was to confirm results of the updated 3D model and to further expand the geophysical coverage over the Promontory Hill target.

Three lines, for a total survey length of eleven kilometers were analyzed; two lines were East-West and one North-South (Figure 3).

Figure 3: Location of 2005 Frontier Geosciences Inc. 3-D Induced Polarization grid
(yellow) and 2017 ScottGeophysics LTD. 2-D Induced Polar

Results of the survey confirmed the presence of an elevated chargeable anomaly identified in the updated 2005 model (Figures 4 and 5). It is noted that due to the nature of 3-D averaging the elevated chargeable area exhibits a different shape and size than the 2-D model defines.

Figure 4: E-W vertical section through Frontier’s 2017 3D chargeability inversionmodel at
5563000N, looking north. This is what was to be verified with standard 2D IP surveying.

Figure 5: Line 5563000N blow up of chargeability field pseudosection above and inversion section below.

The program further defined a highly chargeable, highly resistive, low magnetite response over an area another area directly south of the 2005 updated model anomaly (Figure 6). This new anomaly corresponds with a magnetic low defined in the 2012 AeroMag survey (Figure 7).

“The geophysical signatures accumulated thus far in the program are suggestive of the higher reaches of a porphyry system, with the Craigmont skarn deposit being the distal expression of that. The weak mag high in the center of the dashed red line mag outline, located just south of station 4600E on Line 5562700N could suggest a more magnetic potassic core. In such systems, the strongest IP highs are commonly due to higher concentrations of pyrite, with the Cu mineralization located elsewhere within more moderate IP. As well magnetite destruction commonly results in lower and quieter magnetics.” Jules Lajoie, Ph.D. Geophysist, Technical Report, July 15, 2017.

Figure 6: Line 5562700N blow up of chargeability field pseudosection above and inversion section below.

Figure 7: Compilation of geophysical data on aeromag color background. Ground magnetic profiles are shown in yellow with highs to the east for the N-S line and to the north for the E-W lines. Thicker red lines show zones of elevated chargeability.

Follow up lithologic and mineral alteration mapping over the Promontory Hill area conducted by Fionnuala Devine M.Sc. identify a previously unrecognized silica-pyrite alteration corresponding to the low magnetic area, possibly increasing in intensity to the south west.

“Pervasive silica-pyrite alteration occurs within the Nicola Group sedimentary rocks along a northeast-trending trend in the southwestern part of the property. Most intense alteration completely replaces medium- to coarse-grained wackes and conglomerates with clasts completely pyritized”. F. Devine, Executive Summary of 2017 Mapping, July 2017

The summary report containing the results of the Promontory Hill IP program can be found posted on www.NicolaMining.com

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 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.

On behalf of the Board of Directors

“Peter Espig”                              

Peter Espig

CEO & Director

For additional information contact:

Peter Espig
Telephone: (778) 385-1213
Email: peter@nicolamining.com

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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C. August 29, 2017 – 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 $7,000,882 issued to certain subscribers as previously announced in its News Releases of November 24, 2014, August 25, 2014 and August 8, 2014. In connection with the issuance of the Debentures, the Company also issued 7,000,882 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 $0.275 until November 21, 2015 and at $0.50 per Share until November 21, 2018.

The Debentures mature on November 21, 2017 (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 of the 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 following amendments will be made to the Debentures:

• the Conversion Price will be reduced to $0.22 from $0.275;
• the Maturity Date will be extended from November 21, 2017 to November 21, 2019; and
• all of the 7,000,882 Warrants (representing 3.0% on a fully diluted basis) that were issued in connection with the Debentures will be cancelled.

All other terms of the Debentures shall remain the same. The Amendment is subject to the approval of the TSX Venture Exchange (the “Exchange”).

One of the subscribers, Peter Espig, the Company’s President, Chief Executive Officer and director, is considered a “related party” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and the Amendment is therefore considered to be a “related party transaction” within the meaning of MI 61-101. The Amendment, however, is exempt from the valuation requirement and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in sections 5.5(b) as no securities of the Company are listed on a specified market and 5.7(1)(a) of MI 61-101 in that neither the the fair market value of the amendment or consideration for the amendment exceeded 25% of the Company’s market capitalization. This News Release is being filed less than 21 days before the Amendment being approved because the Company wishes to complete the Amendment in a timely manner.

On behalf of the Board of Directors

“Peter Espig”
Peter Espig
CEO & Director

For additional information

Contact:    (604) 647-0142 or peter@nicolamining.com

Disclaimer for Forward-Looking Information

This news release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Nicola, such as statements that Nicola intends to amend the terms of the Debenture. There are numerous risks and uncertainties that could cause actual results and Nicola’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; or (ii) the Exchange not approving the Amendment. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information 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, Nicola does not intend to update these forward-looking statements.

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.

TSX.V: NIM
NEWS RELEASE

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

“Peter Espig”                                       

Peter Espig

CEO & Director

For additional information

Contact:              Peter Espig
Phone: (604) 647-0142
Email: peter@nicolamining.com

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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C. September 26, 2017 – Nicola Mining Inc. (the “Company”) is pleased to announce the results of a Reverse Circulation drill program (“RC Program”). The program was designed to evaluate the copper grade and volume of historical material excavated from underground workings of the Craigmont Mine, located near Merritt, British Columbia. The material is located adjacent to the 3060-Portal (figure 1). Results of the RC Program confirm significant copper mineralization in the material sampled by drilling.

A RC drill rig operated by Boart Longyear Ltd. was mobilized to site on July 24 and drilling continued until August 1, 2017. The program was temporarily suspended due to poor air quality resulting from forest fire smoke, which affected the BC Interior this year. The material tested accounted for approximately 65% of the area occupied by the excavated material.

Assay results from the drill program are summarized in Table 1. Highlights of the results are:

• An average grade of 2391 ppm Cu (0.24% Cu) for the first 9 metres of the 29 drill holes.
• An average grade of 10,322 ppm Cu (1.03% Cu) in Hole P-34 and an average grade of 8632 ppm Cu (0.86% Cu) in Hole P-72.

Table 1. Composite of RC Drill Hole Results

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 approximately 80 – 90 million tonnes of mine strip material (refer to Oct. 3, 2016 news release) surrounding the historic Craigmont open pit. As described in the Oct. 3, 2016 news release, the historic cut off grade of the open pit was 0.7%.

Figure 1.   Map of Historic Stockpile and 3060-Portal Location

As Figure 1 illustrates, the RC Program tested material outside of the HVCP agreement. In addition to 3060 Portal, the Company had planned to conduct RC drilling at Portal 3500, prior to postponing the RC Program due to air quality issues caused by forest fires. Future RC drilling is expected to focus on the approximate 80 – 90 million tonnes of stockpiles surrounding the pit area.

The Company recognizes that the quantity and grade is conceptual as there is insufficient data to conclude a NI 43-101 resource; however, the RC Program has provided significant insight into the potential of the 80 – 90 million tonnes of mine strip material surrounding the open pit.

The program demonstrated the viability of using RC drilling to obtain reliable samples of unconsolidated dump material for tonnage and grade estimation. In addition, underground mining techniques allow for more controlled excavation and precise grade control than large-scale open pit mining. Therefore, the material sampled in the RC Program is considered to be low grade mineralization external to what was deemed economic mineralization during historical mining. This suggests some of the strip material placed in the larger dumps from the open pit is representative of a similar low-grade mineralization halo.

Figure 2: Reverse circulation drill hole locations and average grade 0-9m or depth of hole.

Peter Espig, Chief Executive Officer of the Company, commented, “The RC Program proved extremely valuable as it provides us with insight into the significant potential of the mine strip material surrounding the historic pit and gives us confidence that we can successfully evaluate the tonnage and grade of this material with RC drilling. Given that the largest cost of mining, which includes engineering, infrastructure, surveying, and blasting have all been incurred, the value of the stockpiles can be significant. The RC Program also seems to confirm a mineralized halo effect that we have seen around higher-grade mineralized zones of the mine.”

Prior to suspending the RC Program, a large portion of the material residing near the 3060-portal was drill tested. All drill holes are 6 inches in diameter and were cased while drilling to maximize rock chip sample return. Holes are approximately 15 metres apart and comprise a total of 364 m in 29 drill holes. Hole depths varied based on material encountered in the hole, with the site geologist terminating each hole when overburden material was encountered.

Quality Control

The Company implemented a quality control program for this program to ensure best practices are utilized for sample collection and analysis of RC cuttings. Samples were collected at 1.0 m intervals down hole with lithology, alteration and mineralization documented for each interval. Quality control measures include insertion of standards and duplicates into the sample stream at a frequency of 1 duplicate and 1 standard for every group of 20 samples. Activation Laboratory (ISO 17025 Certified) in Kamloops, British Columbia conducted sample analysis using ICP Aqua Regia 38-element (IE3) and fire assay gold (IA2) packages. Any samples returning values greater than 10,000 ppm copper were retested using over-limit mass spectrometry methods (8-AR ICP-MS). Certified reference standards and rock blanks were placed in the sample stream with a ratio of approximately one sample out of 10.

Qualified Person

Kevin Wells, P.Geo, a consulting geologist to the Company is the independent qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects for the technical disclosure contained in this news release. The scientific and technical content of this press release was reviewed by Mr. Chris LeClair, G.I.T., and employee of the Company and verified by Mr. Kevin Wells, P.Geo.

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 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.

On behalf of the Board of Directors

“Peter Espig”

Peter Espig

CEO & Director

For additional information contact:

Peter Espig
Telephone: (778) 385-1213
Email: peter@nicolamining.com

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.

TSX.V: NIM
NEWS RELEASE

This amended news release has been prepared and is being issued to replace, in its entirety, a new release issued by Nicola Mining Inc. on August 29, 2017 to disclose revised terms of the amendments to secured convertible debentures.

VANCOUVER, B.C. October 23, 2017 – 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 $7,000,882 issued to certain subscribers as previously announced in its News Releases of November 24, 2014, August 25, 2014 and August 8, 2014. In connection with the issuance of the Debentures, the Company also issued 7,000,882 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 November 21, 2015 and at $0.50 per Share until November 21, 2018.

The Debentures mature on November 21, 2017 (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 of the 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 following amendments will be made 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 November 21, 2017 to November 21, 2019;
• the exercise price of the 7,000,882 Warrants (representing 3.0% on a fully diluted basis) be reduced from $0.50 to $0.275, with a forced conversion in the event that the shares trade at above $0.34375 for at least 10 trading days; and
• the expiry date of the 7,000,882 Warrants be extended from November 21, 2018 to November 21, 2019.

All other terms of the Debentures shall remain the same. The Company has received conditional approval for the Amendment from the TSX Venture Exchange (the “Exchange”).

The rationale of reducing, extending and adding a forced conversion to the warrants is to provide working capital and funding of additional exploration.

One of the subscribers, Peter Espig, the Company’s President, Chief Executive Officer and director, is considered a “related party” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and the Amendment is therefore considered to be a “related party transaction” within the meaning of MI 61-101. The Amendment, however, is exempt from the valuation requirement and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in sections 5.5(b) as no securities of the Company are listed on a specified market and 5.7(1)(a) of MI 61-101 in that neither the the fair market value of the amendment or consideration for the amendment exceeded 25% of the Company’s market capitalization. This News Release is being filed less than 21 days before the Amendment being approved because the Company wishes to complete the Amendment in a timely manner.

On behalf of the Board of Directors

“Peter Espig”
Peter Espig
CEO & Director

For additional information

Contact:    (604) 647-0142 or peter@nicolamining.com

Disclaimer for Forward-Looking Information

This news release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Nicola, such as statements that Nicola intends to amend the terms of the Debenture. There are numerous risks and uncertainties that could cause actual results and Nicola’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; or (ii) the Exchange not approving the Amendment. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information 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, Nicola does not intend to update these forward-looking statements.

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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C. November 8, 2017 – Nicola Mining Inc. (the “Company” or “Nicola”) is pleased to announce that it has entered into a Mining and Milling Profit Share Agreement (the “AMA Agreement”) with AMA Gold Exploration (“AMA” or the “Miner”). AMA recently received its bulk sample permit allowing it to extract an initial 10,000 tonnes from the Dancer 3 Mineral Claim Tenure, located in the Sechelt Peninsula, Vancouver Mining Division Region.  Nicola is the only mill site in British Columbia in which the entire facility and tailings area is owned freehold and is the only mill permitted to accept gold and silver mill feed from throughout British Columbia.

Under the AMA Agreement, the Miner plans to ship mill feed containing a minimum grade of 12.44 (0.4 oz.) grams per tonne gold. The 2011 BC Geological Survey Assessment Report 32343, written by David St. C. Dunn, P.Geo., highlights that the property has paved access and hole DDH-JR-9 intersected 2.74 metres assaying 28.02 g/t gold and 19.4 g/t silver at 8.2 metres down hole.   The Miner plans to focus on easily reachable material located near surface and has been working on the property for years.

Under the AMA Agreement, the Miner will control revenues for the sale of gold and silver concentrate and reimburse cost associated with production. Operating profit will be equally distributed between Nicola and AMA.

Nicola has recently completed approximately $1.0 MM in upgrades to the mill to enhance production, which is expected to commence in Spring of 2018.   On April 6, 2016, the Company announced that it had entered into a Long-Term Milling and Profit Share Agreement (the “LT Agreement”) with Gavin Mines. It was subsequently announced on May 4, 2017 that the property has 135,131 tonnes of probable mineral reserve grading 11.2 grams Au and 100.8 grams Ag per tonne.

On behalf of the Board of Directors

“Peter Espig”
Peter Espig

CEO & Director

For additional information Contact:  info@nicolamining.com

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, the expected grades of the mill feed shipped by the Miner, the timing of the commencement of the shipments from the Miner, the increase in production at the mill which is expected in spring of 2018, 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 implement its plan for increased production; the timing of delivery of material to the mill site; the timing and price of delivery and processing of the mill feed; the grades of the mill feed being supplied by the Miner; 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 and the Company’s reports which are filed on SEDAR. 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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C. November 10, 2017 – Nicola Mining Inc. (the “Company” or “Nicola”) is pleased to announce results on an additional Induced Polarization Geophysical Survey (“IP Survey”) that focused on the Embayment, Titan Queen, and Promontory Hill Zones, which are located on the Company’s wholly-owned New Craigmont Property.

Three North-South IP Survey lines were completed, two of which focused on the Company’s Titan Queen and Embayment targets and a third aimed at providing further clarity on the Promontory Hill. The Company had previously announced positive IP Survey results in its July 24, 2017 news release and felt the area warranted additional work prior to drilling.

Two of the lines targeted potential mineralization immediately south of the historic Craigmont underground mining operations, including a western line over a large previously unmined area, while the third line provided additional insight into the Embayment Zone, which the Company is currently drill testing.

All three North-South IP Survey lines indicate continuation of the historic high-grade Craigmont ore body. The mineralization seems to, not only encompass Embayment Zone mineralization, but also appears to lead to a new anomalous zone that is now referred to as Embayment South.

On Oct. 16, 2017 the Company engaged Scott Geophysics to conduct an additional IP Survey over the New Craigmont Property for the following:

1. To evaluate the Titan Queen and Embayment target(s);
2. To provide clarity on the Promontory Hill anomaly; and,
3. To understand if IP Survey could detect mineralized anomalies through the Kingsvale Conglomerate cover, which is approximately 150.0m thick.

The ability to detect mineralized anomalies through the Kingsvale via IP Survey is a technological advancement that did not exist in the 1980’s and significantly augments exploration accuracy. Historically, Craigmont Mines recognized the potential of the Embayment Zone and developed its underground development to the immediate vicinity of the zone for future exploration. In Nicola’s 2016 Exploration Program the Company’s only drill hole into the Embayment target intercepted 1.11% Cu over 85.92m. The Company is currently conducting its 2018 Drill Program on the Embayment Zone and will issue a news release pending assay results.

The results of the survey over Titan Queen indicate limited potential for porphyry mineralization on the northern section of the lines, but clearly indicate an anomalous chargeability associated immediately south of the Embayment target. Line 647,130E extended over top of the historic Craigmont underground workings and exhibited a weak chargeable response. The two subsequent lines stepping 200m westward indicate the anomaly getting stronger. In addition, line 646,730E indicates that the anomaly merges at depth with another chargeable body to the south, which is referred to as the Embayment South Zone.

“It seems connected to a larger anomaly at depth further south. That anomaly is building from the easternmost line towards the west to this line. Further west, on trend is a strong mag low that stands out in the plan.” Dr. Jules Lajoie.

Figure 1: Location of Titan Queen/Embayment IP geophysical lines. The background is Total Magnetic Intensity (TMI) from 2012 AeroMagnetic Airborne Geophysical Survey.

Results of the Titan Queen IP Survey provided significant insight on the following:

1. Discovery of the South Embayment Zone, a previously unexplored anomaly.
2. The ability to view historic underground mineralized sections and the Embayment Zone via IP Survey augments the ability to accurately target mineralization in future drill programs. This is highlighted in Figure 2, below:

Figure 2: Looking West, chargeability of three IP Lines (647,130E; 646,930E; 646,730E) show increasing chargeability across the lines. Line 647,130E anomaly is interpreted to represent the remaining historic Craigmont underground ore body, with the lines stepping west into unmined ground.

The increasing strength of the anomaly towards the west aligns with the historic interpretation of the Embayment target as the offset of the Craigmont body continuing to the west.

All geophysical data was collected by Scott Geophysics Ltd. and processed and evaluated by Geophysicist Dr. Jules Lajoie.

Following up on the July 24, 2017 Promontory Hill news release, IP data collected on the Promontory Hill area crossed a claim boundary to increase depth view into Nicola’s Promontory Hill target. The boundary and line lengths can are seen in Figure 3 onto Clibetre Exploration Ltd. Betty mineral titles. Subsequently, an agreement has been reached regarding sharing of the data and costs associated with the portion of the project.

Figure 3: July 24, 2017 news released IP lines in relation to the Clibetre Exploration Ltd.

The primary target of interest for the Company is the Promontory Hill Anomaly, which is located approximately 500m away from the claim boundary. Line 5562700N IP cross section is seen in Figure 4 outlines the previously released anomaly.

Figure 4: July 24, 2017 news released IP lines in on Promontory Hill

Peter Espig, Chief Executive Officer commented, “The stability of operations and exploration upside provide the Company with very exciting opportunities. In addition, the exploration opportunity is unique because we are on permitted active mine site, M-68). We continue to conduct our drill program and look forward to providing drill results pending assays.”

Qualified Person

Scientific and technical content in this press release was reviewed by Mr. Chris LeClair G.I.T. and verified by Mr. Kevin Wells, P.Geo., who is classified as a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 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.

On behalf of the Board of Directors

“Peter Espig”

Peter Espig

CEO & Director

For additional information contact:

Peter Espig
Telephone: (778) 385-1213
Email: peter@nicolamining.com

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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C. , November 14, 2017 – Nicola Mining Inc. (the “Company”) today announces that it intends to pay all of the interest owing on the secured convertible debentures (the “Debentures”) issued on November 21, 2014 by the issuance of common shares (each, a “Share”) of the Company. The Debentures mature on November 21, 2017 and bear interest (“Interest”) at a rate of 10% per annum, which Interest is payable annually as to 50% in cash and 50% by the issuance of Shares at a price per Share equal to the Market Price (as defined in the Policies of the TSX Venture Exchange (the “Exchange”)) on the anniversary of the date of issuance of the Debentures, being November 21, 2017. The Exchange has conditionally approved an amendment to the conversion price of the Debentures from $0.275 to $0.22 and the amendment to the maturity date of the Debenture from November 21, 2017 to November 21, 2019.

The Company intends on paying all of the Interest in Shares and in order to incentivize the holders of the Debentures to agree to take such Shares in lieu of the cash payment originally contemplated in the Debentures, it has agreed to settle that outstanding interest payment obligation by the issuance of Shares as if the rate of interest was 12% for the third year of the term of the Debentures.

Accordingly, the Company intends to issue 4,941,799 Shares at a price of $0.17 per Share in settlement of Interest owing of $840,10.84 (the “Debt Settlement”).

Insiders of the Company will be issued an aggregate of 4,450,589 Shares pursuant to the Debt Settlement, which will constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The intended issuance to insiders is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company’s shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the Shares to be issued to the related parties will not exceed 25% of the Company’s market capitalization. The Company will close on the payment of the Interest in Shares in less than 21 days as the payment of Interest is due pursuant to the terms of the Debentures.

The Debt Settlement is subject to Exchange approval. The Shares will be subject to a statutory hold period expiring on the date that is four months and one day after the closing of the Debt Settlement.

On behalf of the Board of Directors

“Peter Espig”                                       

Peter Espig

CEO & Director

For additional information contact:

Peter Espig
Telephone: (604) 647-0142
Email: peter@nicolamining.com

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 Information

Certain statements in this press release related to the Debt Settlement and the securities issuable thereunder are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the settlement of the Interest, resale restrictions relating to the securities to be issued and receipt of the approval of the TSX Venture Exchange. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Company’s ability to complete the Debt Settlement, including the risk that the Debt Settlement may not be completed as expected or at all, that the TSX Venture Exchange may not approve the Debt Settlement and such other factors beyond the control of the Company. Such forward looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. 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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C., November 27, 2017 – Nicola Mining Inc. (the “Company”) is pleased to announce that, further to its News Releases of November 14, 2017, it has received approval from the TSX Venture Exchange (the “Exchange”) to: (i) certain amendments to the secured convertible debentures (each, a “Debenture”) in the aggregate principal amount of $7,000,882 and 7,000,882 warrants (each, a “Warrant”) that were originally issued on November 21, 2014, (ii) the issuance of 4,941,799 common shares (each, a “Share”) in settlement of $840,105.84 interest owing on the Debentures (the “Debt Settlement”) and (iii) the extension of certain warrants (the “November Warrants”) expiring on November 23, 2017 (the “Extension”).

The maturity date of the Debentures has been extended from November 21, 2017 to November 21, 2019 and the conversion price of the Debentures was amended from $0.275 to $0.22 per Share. All other terms of the Debentures remain the same.

The expiry date of the Warrants issued in connection with the Debentures has been extended from November 21, 2017 to November 21, 2019 and the exercise price of the Warrants was amended from $0.50 to $0.275, with a forced conversion in the event that the shares trade at above $0.34375 for at least 10 trading days. All other terms of the Warrants remain the same.

On November 23, 2017, the Company issued 4,941,799 Shares pursuant to the Debt Settlement. The Shares are subject to a statutory hold period expiring on the date that is four months and one day after the closing of the Debt Settlement.

Pursuant to the Extension, the expiry date of 18,689,625 November Warrants has been extended from November 23, 2017 until December 31, 2017. The exercise price of the November Warrants remains the same at $0.15. All other terms of the November Warrants remain the same.

Insiders of the Company were issued an aggregate of 4,450,589 Shares pursuant to the Debt Settlement, which constitutes 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 insiders is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company’s shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the Shares issued to the related parties does not exceed 25% of the Company’s market capitalization. The Company closed on the payment of the Interest in Shares in less than 21 days as the payment of Interest is due pursuant to the terms of the Debentures.

On behalf of the Board of Directors

“Peter Espig”                              

Peter Espig

CEO & Director

For additional information contact:

Peter Espig
Telephone: (604) 647-0142
Email: peter@nicolamining.com

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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C., December 8, 2017 – Nicola Mining Inc. (the “Company”) is pleased to announce a non-brokered private placement financing of up to $1,500,000 (the “Financing”) consisting of the issuance of up to 7,500,000 flow-through common shares of the Company (each, a “FT Share”) at $0.20 per FT Share.

Finders’ fees may be payable in connection with the Financing in accordance with the policies of the Exchange. Insiders may participate in the Financing.

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 the approval of the Exchange.

The aggregate gross proceeds from the sale of the Financing will be used for further exploration on the following key targets:

• Continued extension of the Embayment Zone skarn mineralization;
  • Southern extension of the Embayment Zone
• Promontory Hill
• South Embayment Zone
• Reverse circular drilling (“RC Drilling”) on the approximate 80-90 million tonne waste piles surrounding the historic pit, which had a cut off grade of 0.7% Cu.

The Company’s wholly-owned New Craigmont Property, which covers an area of 10,084 hectares along the southern end of the Guichon Batholith and is adjacent to Teck Resources Ltd.’s Highland Valley Copper, Canada’s largest copper mine.

None of the securities sold in connection with the Financing will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

On behalf of the Board of Directors

“Peter Espig”                               

Peter Espig

CEO & Director

For additional information contact:

Peter Espig
Telephone: (604) 647-0142
Email: peter@nicolamining.com

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.

TSX.V: NIM
NEWS RELEASE

VANCOUVER, B.C., December 15, 2017 – Nicola Mining Inc. (the “Company”) is pleased to announce, that further to its News Release of December 8, 2017, it is increasing the size of its private placement financing because of strong investor demand. The Company previously disclosed that it would issue up to 7,500,000 flow-through common shares of the Company (each, a “FT Share”) at $0.20 per FT Share for gross proceeds of up to $1,500,000. The Company today announces that it has increased the number of FT Shares to be issued, such that it may issue up to 10,262,500 FT Shares at a price of $0.20 per FT Share for gross proceeds of up to $2,052,500 (the “Financing”).

Finders’ fees may be payable in connection with the Financing in accordance with the policies of the TSX Venture Exchange (the “Exchange”). Insiders may participate in the Financing.

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 the approval of the Exchange.

The aggregate gross proceeds from the sale of the Financing will be used for further exploration on the following key targets:

• Continued extension of the Embayment Zone skarn mineralization:
  • Southern extension of the Embayment Zone
• Promontory Hill
• South Embayment Zone
• Reverse circular drilling on the approximate 80-90 million tonne waste piles surrounding the historic pit, which had a cut off grade of 0.7% Cu.

The Company’s wholly-owned New Craigmont Property, which covers an area of 10,084 hectares along the southern end of the Guichon Batholith, is adjacent to Teck Resources Ltd.’s Highland Valley Copper, Canada’s largest copper mine.

None of the securities sold in connection with the Financing will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

On behalf of the Board of Directors

“Peter Espig”                               

Peter Espig

CEO & Director

For additional information contact:

Peter Espig
Telephone: (604) 647-0142
Email: peter@nicolamining.com

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.