Nicola Mining Announces Closing of the Second Tranche of Unit Financing

TSX.V: NI IM NEWS RE ELEASE

NICOLA A MINING A ANNOUNCES S CLOSING OF THE SEC COND TRAN NCHE OF UN NIT FINANC CING

VANCOU UVER, B.C., S September 6, 2 2019 – Nicola a Mining Inc. (the “Compa any”) announ nces that, furth her to anche of its private its News Release of Ju une 28, 2019 a and August 1 19, 2019, it ha as completed a second tra placemen nt financing (t the “Financin ng”) pursuan nt to which it t sold an agg gregate of 750 0,000 units (ea ach, a “Unit”), a at a price of $0.10 per U Unit, for gros ss proceeds o of $75,000. T The Compan ny has raised d total proceeds of $525,000 fr rom the closin ng of the first and the seco ond tranches o of the Financi ing. The Com mpany intends on n completing additional tranches of the e Financing.

Each Unit t consisted of f one common n share (each h, a “Share”) and one-half f of one share e purchase wa arrant (each who ole warrant, a “Warrant”)

). Each Warr rant is exerci isable into on ne Share at a price of $0.1 15 per Share for a period of tw wo years from m the date of i issuance.

The Comp pany did not pay any finde er’s fees in co onnection with h the Financin ng.

Proceeds from the Fina ancing will be e used for gen neral working g capital.

The secur rities issued under the F Financing, an nd the shares s that may b be issuable o on exercise o of the Warrants, , are subject to

• a statutory hold period e expiring on Ja anuary 4, 2020 0.

On behalf f of the Board d of Directors

“Peter Espig”

Peter Esp pig CEO & D Director

For addit tional inform mation conta act:

Peter Esp pig Telephon ne: (604) 647 7-0142 Email: pe eter@nicolam mining.com