File: '\\swfile\EmailIn\20240322 114925 Attachment NICOLA News Release announcing change of officers (March 2024).docx'

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TSXV: NIM

NICOLA MINING ANNOUNCES CHANGE OF OFFICERS

VANCOUVER, BC, March 22, 2024 - Nicola Mining Inc. (TSX.V: NIM) (FSE: HLI) (OTCQG: HUSIF), (the "Company" or "Nicola") announces that it has appointed Sam Wong as the Company's Chief Financial Officer and Bill Cawker as the Company's Secretary in place of Warwick Bay who resigned as the Company's Chief Financial Officer and Secretary. The Company wishes to thank Mr. Bay for his many contributions to the Company.

Sam Wong

Sam Wong is a Certified Public Accountant with more than 18 years of international experience in the mining and resource sector. He has held senior executive positions in publicly traded mining companies. Mr. Wong's expertise includes financial reporting, corporate risk management, corporate strategy and planning, and investment evaluation. Mr. Wong began his career at Deloitte LLP in Vancouver, where he provided assurance and tax services.

Bill Cawker

Bill Cawker is an experience inhouse specialist that works with primarily assist small cap / micro-cap companies. Mr. Cawker specialized in publicly listed companies in the fields of technology and natural resources for over three decades. Mr. Cawker has worked at leading Canadian financial institutions and been active with numerous public companies.

About Nicola Mining

Nicola Mining Inc. is a junior mining company listed on the Exchange and Frankfurt Exchanges 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 10,084 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 29 mineral tenures covering 2,178 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: info@nicolamining.com

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.