Nicola Mining Announces Issuance of Shares in Settlement of Interest Owing on Convertible Debentures

TSX.V: N NIM

NIC COLA MINING ANNO OUNCES ISSUANCE O OF SHARES IN SETTLE EMENT OF IN NTEREST O OWING ON CONVERT TIBLE DEBE ENTURES

VANCO

OUVER, B.C., November 27, 2018 – Nicola Min ning Inc. (th he “Compan ny”) is pleas sed to announce that, furth her to its New ws Release o of November 14, 2018, it t has receive ed approval from the TSX V Venture Exc change (the “Exchange”

”) to the issu uance of 6,04 48,593 comm mon shares ( (each, a “Share”) in settle ement of $ $695,588.20 interest ow wing on th he Debentu ures (the “Debt

Settleme

ent”), which h Shares were issued on n Novembe er 26, 2018. The Shares are subject t to a statutory y hold period d expiring o on the date t that is four m months and d one day after the closing of the Debt Settlement.

Insiders of the Com mpany were issued an a aggregate of f 5,482,609 S Shares pursu uant to the Debt Settlemen nt, which co onstitutes a “related par rty transacti ion” within the meanin ng of Multila ateral Instrume ent 61-101 P Protection of Minority Sec curity Holde ers in Special l Transaction ns (“MI 61-1 101”). The issua ance to insid ders is exem mpt from the valuation re equirement of MI 61-101 1 by virtue o of the exemptio on contained d in section n 5.5(b) as th he Company ny’s shares a are not liste ed on a spec cified market a and from the e minority sh hareholder a approval req quirements o of MI 61-101 1 by virtue o of the exemptio on contained in section n 5.7(a) of MI 61-101 in that the e fair mark ket value o of the of the Company’s considera ation of the Shares issue ed to the rel lated parties s does not ex xceed 25% o market capitalization

n. The Comp pany closed on the paym ment of the I Interest in Sh hares in less s than 21 days a as the payme ent of Intere est is due pur rsuant to the e terms of th he Debenture es.

On behal lf of the Board of Directo ors

“Peter Es spig”

Peter Es spig CEO & D Director

For addit tional inform mation conta act:

Peter Esp pig Telephon ne: 778. 385.1 1213 Email: pe eter@nicolam mining.com

Neither th he TSX Ventu ure Exchange e nor its Regu ulation Servic ces Provider ( (as that term i is defined in t the policies of f the TSX Ven nture Exchan nge) accepts re esponsibility f for the adequ uacy or accura acy of this rele ease.