NIM.V · 2018-02-28 12:00:00

Includes 71.4m 7 of 0.6 6% Cu VANCOU

Drill Results

TSX.V: N

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NC‐2017‐01

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incl.

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incl.

NC‐2018‐01

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NIM

RELEASE

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the Craigm o

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(m)

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1.36 1. 0

0.83 0. 3

1.71 0. 7

0.26 0. 3

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3.42 0. 7

8.24 0. 3

5.7 0. 5

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hat

ovide

gmont

ed to

thern

anded

width

skarn

55 km

nsion

. The

Embayment fault offsets the continuous zone of skarn alteration and displaces the Embayment

segment approximately 300 metres to the northwest of the Craigmont segment. Nicola’s

Geology team has been able to trace mineralized skarn of the Embayment Zone for 400 metres

laterally west from the Embayment Fault. The zone is still open at depth and to the west and

additional drilling will be required to test the continuity and extent along strike and down dip.

The Company will complete one additional hole designed to intersect central part of the

currently delineated Embayment Zone before moving to drill-test waste piles and the

mineralized halo around the Craigmont ore zone.

 Underground development of the Craigmont Mine extends to approximately 150m

from the Embayment Zone skarn corridor

The Craigmont deposit was characterized by high- grade, irregular semi-massive chalcopyrite

lenses surrounded by lower grade halos, which is also exhibited by the initial drilling results from

the Embayment Zone. Determining the limits of the lower grade mineralized halo will better

equip the Company to identify higher-grade exploration targets along the skarn alteration

corridor.

The 2018 Exploration Program will include a revers e circulation (“RC”) drilling program on the

approximate 80-90 million tonne waste stockpiles surrounding the historic Craigmont open pit.

Given the cut-off grade of 0.7% copper was used during open pit mining, there is potential for

the readily accessible waste stockpiles to contain copper grades sufficient for economic

processing. The goal of the 100-hole RC drilling program is to better understand copper grades

in the waste stockpiles and produce a resource estimate consistent with CIM Definition

Standards.

Concurrent with the RC Drilling program, the Company will conduct diamond drilling of the halo

surrounding the historic Craigmont open pit mine. Compilation and interpretation of hundreds of

historical drill holes completed prior to and during operation of the Craigmont Mine indicate a

mineralized halo extends beyond the current pit shell. Drilling will be designed to test the

grades and extent of remaining portions of the mineralized halo.

Peter Espig, Chief Executive Officer commented, “We are very pleased with the initial results of

2017 Exploration Program (the “2017 Program”) that confirms the Embayment Zone represents

the fault off-set extension of the skarn alteration corridor that hosts the Craigmont deposit. We

have already extended the Embayment Zone 400m along strike and now interpret the

Embayment Skarn zone as a single corridor, which simplifies future exploration of the zone. We

are optimistic that continued exploration of New Craigmont during 2018 will highlight a very

exciting project.”

Technical Information

Quality Assurance and Quality Control of Nicola’s drilling programs are under the control of

Nicola’s Geological staff and are consistent with industry best practices and NI43-101 disclosure

standards. All core is logged, sampled, and prepared at Nicola’s Craigmont Mill site. Core is

halved, with one half of the core retained as a physical record. The company regularly inserts

reference standards, blanks and duplicate samples for QAQC purposes. Samples are

transported by Nicola employees following a defined chain of custody, to Actlabs in Kamloops,

BC. Samples are analyzed using Fire Assay/AA and Aqua Regia/ICP/OES methods.

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, Br itish Columbia. It has already signed four mill

profit share agreements with high grade gold pr oducers. The fully-permitted mill can process

both gold and silver mill feed via gravity and fl oatation processes. The Company also owns

100% of Treasure Mountain, its high-grade silver property, and an active gravel pit that 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: (778) 385-1213

Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in

the policies of the TSX Venture Exch ange) accepts responsib ility for the adequacy or accuracy of this

release.

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