File: '\\swfile\EmailIn\20250314 114143 Attachment NICOLA News Release clarifying terms of private placement.docx'

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TSX.V: NIM

FSE: HLIA

OTCQB: HUSIF

NICOLA CLARIFIES TERMS OF NON-BROKERED PRIVATE PLACEMENT

VANCOUVER, B.C., March 14, 2025 - Nicola Mining Inc. (TSX.V: NIM) (FSE: HLI) (OTCQB: HUSIF, (the "Company" or "Nicola") announces that, further to its News Release of March 12, 2025, it wishes to clarify the terms of the private placement (the "Offering") that closed on March 12, 2025, whereby it issued 4,038,955 Units for aggregate gross proceeds of $1,130,907.40 and paid $63,827.36 in finder's fees for net proceeds of $1,067,080.00.

Each Unit consists of one common share of the Company (each, a "Share") and one-half of one transferable share purchase warrant (each whole warrant, a "Warrant"), with each Warrant entitling the holder thereof to purchase one additional Share (each, a "Warrant Share") of the Company at a price of $0.40 per Warrant Share for a period of three years from the closing of the Offering. If during the exercise period of the Warrants, but after the resale restrictions on the Shares have expired, the Shares trade on the TSX Venture Exchange (the "Exchange") (or such other exchange on which the Shares may be traded at such time) at a closing price of $0.60 or greater per Share for a period of ten (10) consecutive trading days, the Company may accelerate the expiry of the Warrants by giving notice to the holders thereof (by disseminating a press release advising of the acceleration of the expiry date of the Warrants) and, in such case, the Warrants will expire on the thirtieth (30th) day after the date of such notice.

The aggregate gross proceeds from the Offering are expected to be used for general working capital.

Qualified Person

William Whitty, P. Geo., VP of Exploration for the Company, is the Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects has reviewed and approved the technical disclosure contained in this news release.

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 includes 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

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.