Mr. Peter Espig reports

NICOLA MINING COMMENCES 2020 EXPLORATION AT TREASURE MOUNTAIN

Nicola Mining Inc. has begun exploration at the Treasure Mountain mine property, a fully permitted, high-grade silver project located approximately 90 minutes from the company's Craigmont mill. The primary objective of the 2020 program is to complete the 2019 program, which was cut short due to poor weather.

The company plans to collect 530 soil samples over the northeast-southwest magnetic trend, which was identified in the aeromagnetic survey flown by Scott Hogg and Associates and subsequently interpreted by SJ Geophysics in 2012. The trend is subparallel to the mineralization found within Treasure Mountain underground mine workings and is coincident with the Vigo and Cal veins. The 2020 program aims to extend the MB zone grid, potentially delineating the full strike length of the soil anomaly coincident with the magnetic trend to develop targets for future exploration by trenching and drilling upon receiving a multiyear exploration permit on the property.

In addition to soil sampling, the company hopes to conduct channel sampling of recently identified silver-bearing veins as well as revisit historically reported exposures of silver-bearing veins.

Qualified person

Kevin Wells, PGeo, 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.