Nicola Mining Announces Results of Annual General Meeting and Resignation of Board Member

TSX.V: NIM FSE: HLI OTCBB: HUSIF

NICOLA MINING ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING AND RESIGNATION OF BOARD MEMBER

VANCOUVER, B.C., June 17, 2022 – Nicola Mining Inc. (TSX.V: NIM) (FSE: HLI) (the “Company”) announces that all resolutions at the Company’s Annual General Meeting, held on June 14, 2022, were approved by the shareholders. The Company also announces the resignation of Doug F. Robinson from the Board of Directors.

Peter Espig, Chief Executive Officer, commented, “We are very grateful for the service that Mr. Robinson has provided the Company since his joining the board in 2014.”

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 has signed Mining and Milling Profit Share Agreements with high grade gold projects. Nicola’s fully-permitted mill can process both gold and silver mill feed via gravity and flotation processes.

The Company owns 100% of the New Craigmont Project, a high-grade copper property, which covers an area of 10,913 hectares along the southern end of the Guichon Batholith and is adjacent to Teck Resources Ltd.’s Highland Valley Copper, Canada’s largest copper mine. The Company also owns 100% of the Treasure Mountain Property, consisting of 30 mineral tenures covering 513 hectares (ha) and a mining lease covering 335 ha.

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 Exchange) accepts responsibility for the adequacy or accuracy of this release.