NIM.V · 2023-03-30 12:00:00

Nicola Mining Announces Consulting Agreement with 0748004 BC Ltd.

Corporate Updates

TSXV: NIM

NICOLA MINING ANNOUNCES CONSULTING AGREEMENT WITH 0748004 BC LTD.

VANCOUVER, BC, March 30, 2023 – Nicola Mining Inc. ( TSX.V: NIM ) (FSE: HLI ) (OTCQG:

HUSIF), (the “ Company” or “ Nicola”) is pleased to announce that it has entered into a consulting

agreement (the “Agreement”) with 0748004 BC Ltd. (the “Consultant”), a company which carries on

the business of investor relations including assisting public companies in the promotion of corporate

activities, pursuant to which the Consultant, thro ugh Bill Cawker, has agreed to provide investor

relations and communications services to the Company (the “ Services”). In consideration for the

Services, the Company has agreed to pay the Co nsultant a monthly fee of $5,000 and grant the

Consultant stock options (each, an “ Option”) to purchase up to 200,000 common shares of the

Company (each, a “ Share”) at an exercise price to be determined. All Options will be non-

transferable, irrevocable and expire on the earlie r of: (i) 90 days following termination of the

Agreement, (ii) 30 months from the date of grant, an d (iii) such other date as may be required under

the Company’s Equity Incentive Plan and the rules and policies of any stock exchange upon which

securities of the Company may be listed from time to time. The Options will vest quarterly. The

term of the Agreement is for a period of six months ending on August 31, 2023 which may be

extended from time to time. The Services will include marketing and communicating with corporate

analysts, institutional and professional investors and retail brokers, developing and assisting with

press releases, website disclosure, investor present ations, assist with all work to prepare for

meetings, investor presentations, site visits and tr ade show opportunities, following up on inquiries

and leads from the Company’s social media communications platforms and other related investor

relation services. The Company and the Consultant are at arms’ length and the Consultant does not

have an interest, directly or indirectly, in the Comp any or its securities, nor do es it intend to acquire

such an interest, other than the grant of the stock options.

About Nicola Mining

Nicola Mining Inc. is a junior mining company li sted on the Exchange and Frankfurt Exchange 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

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.