Nicola Mining Announces Increase in Flow-Through Private Placement

NOT T FOR DIST TRIBUTION N TO UNITED STATES S NEWSWIR RE SERVIC CES OR FOR R DISSEM MINATION IN THE UN NITED STA ATES

TSX.V: N NIM

NI ICOLA MIN NING ANN NOUNCES IN NCREASE I IN FLOW-T THROUGH PRIVATE PLA ACEMENT

VANCO

OUVER, BC, , December 15, 2017 – N Nicola Mini ing Inc. (the e “Company y”) is pleased to announce, that furth her to its Ne ews Release of Decembe er 8, 2017, it is increasin ng the size of its private p placement fi inancing be ecause of str rong investo or demand.

. The Com mpany previo ously disclosed d that it wo ould issue u up to 7,500,0 000 flow-thr rough comm mon shares of the Com mpany ceeds of up to $1,500,000 (each, a “ “FT Share”) at $0.20 per r FT Share fo or gross proc

0. The Com mpany today an nnounces tha at it has incr reased the n number of F FT Shares to

• be issued, such that it t may

issue up to 10,262,50 00 FT Share es at a price of $0.20 pe er FT Share for gross p proceeds of u up to $2,052,50 00 (the “Fina ancing”).

Finders’ fees may be payable in c connection w with the Fina ancing in ac ccordance wi ith the policies of the TSX V Venture Exchange (the “ “Exchange”)

). Insiders m may particip pate in the Fi inancing.

All secur rities issued in connectio on with the Financing w will be subje ect to a statu utory hold period expiring four months and one da ay after closing of the Fi inancing. Co ompletion of f the Financi ing is subject to

• the approv val of the Exc change.

The aggr regate gross proceeds fro om the sale of the Finan ncing will be e used for further explor ration on the fo ollowing key y targets:

• Continued ex C xtension of th he Embaym ment Zone ska arn minerali ization:
  • South hern extensio on of the Em mbayment Zo one
• Promontory H P Hill
• So outh Embay yment Zone
• Reverse circ nne waste piles R cular drillin ng on the approxima ate 80-90 m million ton urrounding the historic pit, which h su had a cut off grade of 0.7 7% Cu.

The Com mpany’s wh holly-owned d New Craigmont Prop perty, which h covers an n area of 1 10,084 hectares along the so outhern end d of the Guic chon Bathol lith, is adjac cent to Teck Resources L Ltd.’s Highland d Valley Cop pper, Canad da’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: [email protected]

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.