Mr. Peter Espig reports

NICOLA MINING AND LOWER NICOLA SITE SERVICES COMMENCE CONSTRUCTION OF CEMENT PLANT TO SERVICE INFRASTRUCTURE PROJECTS

Nicola Mining Inc. has commenced construction of a cement plant along with its partner Lower Nicola Site Services Ltd. (LNSS), which is a partnership between the Lower Nicola Indian Band Development Corp. and Infracon Construction Inc. The company announced on March 14, 2022, that it had entered into a rock and gravel extraction and preferential engagement agreement with LNSS, and subsequently that on March 29, 2022, that it successfully received a notice of departure (NoD) at the New Craigmont project from the Ministry of Energy, Mines and Low Carbon Innovation (EMLI) to operate a rock quarry. Under the NoD the company can extract up to three million tonnes (Mt) of inert available rock material that may be used for the infrastructure reconstruction efforts at a production rate of approximately 1,500 tonnes per day.

The cement plant is to be located on a gravel pit owned by the company (permit G1519) that is operated by LNSS. The gravel pit is adjacent the Craigmont mine site, located near Merritt, B.C.. Given that Nicola and LNSS (together, the partners) are already active in supplying riprap, sand and gravel to the region and infrastructure projects, the vertical integration was a logical development.

The partners have also submitted a five-year mine extension permit application for the gravel pit operations.

Peter Espig, chief executive officer, commented: "The ability to be creative and work closely with LNSS, as we support first nations, local communities and numerous infrastructure projects, is more than just a revenue generation opportunity; it is a chance to contribute. Supplying cement will not only augment our revenues, but it will also benefit communities and bridge relationships."

Qualified person

William Whitty, PGeo, vice-president of exploration for the company, is the 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 Inc.

Nicola Mining is a junior mining company listed on the TSX Venture Exchange and Frankfurt Exchange 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 via gravity and flotation processes.

The company owns 100 per cent 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 Highland Valley Copper, Canada's largest copper mine. The company also owns 100 per cent of the Treasure Mountain property, which include 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares.

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