Nicola Mining Announces Closing of Strategic Private Placement of $164,000

TSX.V: NIM AMENDED NEWS RELEASE

NICOLA MINING ANNOUNCES CLOSING OF STRATEGIC PRIVATE PLACEMENT OF $164,000

VANCOUVER, B.C, June 1, 2016 – Nicola Mining Inc. (the “Company”) announces that it has successfully closed a private placement of $164,000 with strategic investors that were unable to participate in the recent Fourth Tranche Unit Financing, which the Company announced in its news release of May 2, 2016.

The Company sold an aggregate of 2,050,000 Units for gross proceeds of $164,000. The Company did not pay any finder’s fees in connection with the private placement.

Proceeds of the financing will be used for general working capital.

The securities issued under the financing, and the Shares that may be issuable on exercise of the Warrants and the broker warrants, are subject to a statutory hold period expiring on September 28, 2016.

On behalf of the Board of Directors

“Peter Espig”

Peter Espig CEO & Director

For additional information Contact: Peter Espig (604) 647-0142 [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.