Mr. Peter Espig reports

NICOLA MINING ANNOUNCES CLOSING OF AMENDMENTS TO SUBORDINATED SECURED CONVERTIBLE DEBENTURES IN THE PRINCIPAL AMOUNT OF $330,000

Nicola Mining Inc. has completed the amendments to the secured convertible debentures by issuing amended and restated convertible debenture certificates in the aggregate principal amount of $330,000 to certain holders.

The maturity date of the debentures has been extended from Jan. 9, 2023, to Jan. 9, 2025. The company also amended the debentures to permit the company to prepay all or any portion of the outstanding principal of the debenture and accrued and unpaid interest thereon at its sole discretion without penalty or bonus. In all other respects, the terms of the debentures remain the same.

About Nicola Mining Inc.

Nicola Mining is a junior mining company that maintains a 100-per-cent-owned mill and tailings facility located near Merritt, B.C. 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 through gravity and flotation processes.