| VANCOUVER, B.C., August 31, 2021 – Nicola Mining Inc. (TSX.V: NIM) (FSE: HLI), (the “Company” or “Nicola”) is pleased to announce that it has commenced shipping of concentrate with Ocean Partners UK Limited [1] (“Ocean Partners”). To date 140 dry metric tonnes of gold and silver concentrate grading an estimated 90 g/t Au and 500 g/t Ag have been prepared for shipping (See Diagram 1). All concentrate assays were completed at Base Met Labs [2], an accredited metallurgical testing facility located in Kamloops, BC. Concentrate grades have increased from 84.6 g/t Au to 92.2 g/t Au [3], which may be attributed to higher throughput grades and recoveries. The Company looks forward to releasing future assays and in a subsequent news release. Crushing of mill feed, which was transported to the site by Blue Lagoon Resources Inc. (CNSX: BLLG), commenced on July 2, 2021. In addition, to producing the gold and silver concentrate the Company has also completed key upgrades and purchase of spare parts to further augment production efficiencies. ______________________ [1] Ocean Partners operates in a number of countries, including Canada, Chile, China, Cyprus, Mexico, Mongolia, Netherlands, Peru, Taiwan, Turkey, United Kingdom, and the United States, and retains agency representation in Argentina, Australia, Bolivia, Brazil, Chile, Ecuador, India, Japan, South Africa, South Korea. The Company maintains a strong global network of relationships and contacts in the base metal mining and smelting sector. [2] Base Met Labs: https://basemetlabs.com/ [3] There were 24 assays taken for this news release. The first 10 assays measured an average grade of 84.6 g/t Au while the last ten assays (15 through 24) graded 92.2 g/t Au. |
| Diagram 1: Initial shipment of gold and silver concentrate |
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Peter Espig, Chief Executive Officer commented, |
| “Commencing milling operations to become Canada’s new gold / silver producer is a significant milestone. Over the past few months, we have completed an exploration program at New Craigmont Copper Project, acquired a 75% economic interest in a high grade gold project that is currently applying for a bulk sample permit and committed to environmental and social initiatives that include engaging Vest Filipchuk. It highlights a company focused on business execution while honouring social and environmental obligations.” |
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. About Nicola Mining Nicola Mining Inc. is a junior mining company listed on the TSX Venture and Frankfurt Exchanges that maintains a 100% owned mill and tailings facility, located near Merritt, British Columbia. It is comprised of four key assets: A $30.0 million plus modern mill facility that is held freehold and is the only site permitted to process material province wide. 100% ownership of the historic Craigmont Copper Mine located in southern British Columbia. 100% ownership of Treasure Mountain, a high-grade silver mine located in southern British Columbia. 75% economic interest in the high grade Dominion Creek Project gold project. In depth explanations can be seen on the Company’s Corporate Presentation. https://nicolamining.com/investors/corporate-presentation/ On behalf of the Board of Directors “Peter Espig” Peter Espig CEO & Director For additional information Contact: Peter Espig Phone: (778) 385-1213 Email: info@nicolamining.com |
