Nicola Mining Inc. Ships Second Shipment of Gold and Silver Concentrate

Vancouver, British Columbia--(Newsfile Corp. - September 16, 2021) - Nicola Mining Inc. (TSXV: NIM)(FSE: HLI) (the "Company" or "Nicola") is pleased to announce that it has completed a second shipment of 105.8 tonnes of gold and silver concentrate to Ocean Partners UK Limited¹ ("Ocean Partners"). On August 31, 2021, the Company announced its first shipment, which produced via a partnership with Blue Lagoon Resources Inc. (CNSX: BLLG). Combined with the initial concentrate shipment, the Company has now sent a total of 140.9 tonnes of concentrate to Ocean Partners for an aggregate total value of USD 664,081.36.^[1]

Ocean Partners received independent assays from Wheal Jane Laboratory, an ISO 9001, and ISO 14001 certified laboratory based in the United Kingdom, with grades of 101.9 grams / tonne Au and 363.2 grams / tonne Ag, respectively. This exceeds the invoicing grades used of 85 grams / tonne Au and 430 grams / tonne Ag for the first 40 tonnes and 93 grams / tonne Au and 468 grams / tonne Ag for the current 105.8 tonnes.

Webinar

Nicola Mining will host a webinar to discuss the Company's recent updates. The webinar will take place on Friday, September 17th at 9am PST / 12pm EST. Management will be available to answer questions following the presentation.

To join the webinar, register from this link (also includes dial-in instructions): https://my.6ix.com/n-WeS_YV^[2]

Qualified Person

Kevin Wells, P.Geo, a consulting geologist to the Company, is the independent qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects for the technical disclosure contained in this news release.

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 is comprised of four key assets:

1. A $30.0 million plus modern mill facility that is held freehold and is the only site permitted to process material province wide.
2. 100% ownership of the historic Craigmont Copper Mine located in southern British Columbia.
3. 100% ownership of Treasure Mountain, a high-grade silver mine located in southern British Columbia.
4. 75% economic interest in the high grade Dominion Creek Project gold project.

In depth explanations can be seen on the Company's Corporate Presentation. https://nicolamining.com/investors/corporate-presentation/^[3]

On behalf of the Board of Directors

"Peter Espig"

Peter Espig

CEO & Director

For additional information

Contact: Peter EspigPhone: (778) 385-1213 Email: info@nicolamining.com^[4]

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.

This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the impact of the ongoing drill program and results on the Company, the possible economics of the project and the Company's understanding of the project; the development potential and timetable of the project; the estimation of mineral resources; realization of mineral resource estimates. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "continue", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performances, or achievements of Nicola to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Nicola will operate in the future. Certain important factors that could cause actual results, performances, or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Nicola to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: there being no assurance that the exploration program will result in expanded mineral resources; risks and uncertainties inherent to mineral resource estimates.

¹ Ocean Partners operates in a number of countries, including Canada, Chile, China, Cyprus, Mexico, Mongolia, Netherlands, Peru, Taiwan, Turkey, United Kingdom, and the United States, and retains agency representation in Argentina, Australia, Bolivia, Brazil, Chile, Ecuador, India, Japan, South Africa, South Korea. The Company maintains a strong global network of relationships and contacts in the base metal mining and smelting sector.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96723^[5]

References

1. ^{^} Ocean Partners UK Limited (www.newsfilecorp.com)
2. ^{^} https://my.6ix.com/n-WeS_YV (www.newsfilecorp.com)
3. ^{^} https://nicolamining.com/investors/corporate-presentation/ (www.newsfilecorp.com)
4. ^{^} info@nicolamining.com (www.newsfilecorp.com)
5. ^{^} https://www.newsfilecorp.com/release/96723 (www.newsfilecorp.com)