Nicola Mining Provides Additional Clarity
TSX.V:NIM
NICOLA MINING PROVIDES ADDITIONAL CLARITY
VANCOUVER, B.C. December 24, 2019 – Nicola Mining Inc. (the “ Company”) provides an
operational update on its wholly-owned Craigmont Copper Project and Treasure Mountain
Project and to clarify prior scientific and technical disclosure regarding these projects.
The Company has relied upon historic Craigmont Project reports that include historical
information that does not meet current Canadian Institute of Mi ning (“CIM”) guidelines.
Tonnage estimates disclosed are historic and not supported by a compliant technical report and
should not be relied upon.
In the Company’s most recent corporate presentation figures wer e used to describe costs
associated with reopening Level 1 Stope 2. The economic analys es are not supported by a
compliant NI 43-101 technical report, contrary to NI 43-101, an d that the estimates should not
be relied on until they have been verified and supported by a technical report.
The Company is in the process of preparing new NI 43-101 Indepe ndent Technical Reports for
its Craigmont Copper Project and its Treasure Mountain Project, which are expected to be
completed in Q1 of 2020.
The Company wishes to clarify that the November 27 news release s was reviewed by a
qualified professional Peter Mehrfert P. Eng. and that the Nove mber 29 news release content
had been and approved by Kevin Wells, P. Geo., an independent c onsulting Geologist to Nicola
Mining.
About Nicola Mining
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 Colum bia. It has already signed four mill
profit share agreements with high grade gold producers. The ful ly permitted mill can process
both gold and silver mill feed via gravity and flotation proces ses. The Company also owns 100%
of Treasure Mountain, a high-grade silver property, and an acti ve 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
Telephone: (778) 385-1213
Email: [email protected]
Cautionary Statement Regarding Forward-Looking Statements
This news release includes certain “forward-looking stat ements” under applicable Canadian securities legislation
that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could
cause actual results, performance, prospects, and opport unities to differ materially from those expressed or implied
by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to,
statements with respect to the expectations of manageme nt regarding its mineral projects, the technical reports
being prepared in relation to these proj ects, the mineralization on these projects, the relev ancy and reliability fo
historical estimates, and the timing for completion of technical report. Although the Company believes that the
expectations reflected in the forwar d-looking information are reasonable, there can be no assurance that such
expectations will prove to be correct. Such forward-looking statements are su bject to risks and uncertainties that
may cause actual results, performance or developments to differ materially fr om those contained in the statements
including that: the Company may not complete the new techni cal reports within the time anticipated or at all; the
mineral properties may not have any current mineral resources or mineral reserves; the mineral projects may not
prove to be economically feasible; risks inherent to mineral exploration and extraction activities; and those additional
risks set out in the Company’s public documents file d on SEDAR at www.sedar. com. Although the Company
believes that the assumptions and factors used in prepar ing the forward-looking statements are reasonable, undue
reliance should not be placed on these statements, which only apply as of the date of this news release, and no
assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by
law, the Company disclaims any intention or obligation to update or revise an y forward-looking statement, 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) accep ts responsibility for the adequacy or accuracy of
this release.