File: '\\swfile\EmailIn\20240418 131532 Attachment NICOLA News Release announcing grant of stock options (April 2024).docx'

CW25237826.1

CW25237826.1

TSX.V: NIM

FSE: HLIA

OTCQB: HUSIF

NICOLA MINING ANNOUNCES GRANT OF STOCK OPTIONS

VANCOUVER, B.C., April 17, 2024 - Nicola Mining Inc. (TSX.V: NIM) (FSE: HLIA) (OTCQB: HUSIF), (the "Company" or "Nicola") is pleased to announce that it has granted an aggregate of 3,000,000 stock options to certain directors, officers, employees and consultants for the purchase of up to 3,000,000 common shares of the Company pursuant to its Equity Incentive Plan. Each option is exercisable for a period of 5 years at a price of $0.265 per common share.

About Nicola Mining

Nicola Mining Inc. is a junior mining company listed on the Exchange and Frankfurt Exchange 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 10,913 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% of the Treasure Mountain Property, which include 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares.

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

Forward-Looking Information

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.