Nicola Mining Announces Grant of Stock Options

TSX.V: NIM

FSE: HLI

OTCBB: HUSIF

NICOLA MINING ANNOUNCES GRANT OF STOCK OPTIONS

VANCOUVER, B.C., October 5, 2022 – Nicola Mining In c. (TSX.V: NIM ) (FSE: HLI )

(the “Company ”) is pleased to announce that it has granted an ag gregate of 5,150,000 stock

options to certain directors, officers, employees a nd consultants for the purchase of up to

5,150,000 common shares of the Company pursuant to its Stock Option Plan. Each option is

exercisable for a period of 5 years at a price of $0.08 per common share.

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 facil ity, located near Merritt, British Columbia. It

has signed Mining and Milling Profit Share Agreemen ts 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, c onsisting 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.