Nicola Mining Inc. Completes Mineral Purchase Agreement to Acquire 75% Economic Interest of Dominion Creek Gold Project

TSX.V: N NIM

NICOL LA MINING INC. COMPLETES MIN NERAL PUR RCHASE AG GREEMENT TO ACQUIR RE 75% ECO ONOMIC INTEREST OF F DOMINION CREEK G GOLD PROJ JECT

UVER, B.C., June 15, 2021 – Nicola Mining VANCOU g Inc. (TSX X.V: NIM) ( (FSE: HLI), (the ola”) is pleased to anno g completed satisfactory “Compan ny” or “Nico ounce that, after having y due he acquisition of 50% of the Dominio diligence e, it is procee eding with th on Creek Pro operty (the “ “Gold ), which is located 43 kilometers northeast of the Tow Project”)

wn of Wells and about t 110 rince George, pursuant to the Mineral Purcha ase Agreement it kilometer rs east-sout theast of Pr entered into with Hig gh Range E Exploration L Ltd. (“High R Range”). T The Compan ny announce ed on Septemb ber 17, 2020 0, that it had d signed a S Strategic Milling and Pro ofit Share Ag greement (“P

Profit Range and on Septemb ad entered into a

Share A

Agreement”)

) with High R ber 23, 202 20, that it ha Letter of Intent (“LOI”) to acquire e a 50% inter rest in the G Gold Project.

000, which is to be alloc The Com mpany has c competed the initial requ uired payme ent of $225,0 cated towards the acquisition of 50% of the Dominion Creek Property ($ $150,000) an nd to comm mence work on a 10,000 tonne bulk sa ample permit t application n ($75,000). The Comp pany receive ed the ayment ¹ of required funds by requesting a non-dilutive Prepa 000, which was f US$250,0 subseque ved on April 27, 2021.

unced that it had sign ently receiv . The Comp pany annou ned a ners UK Limited², a com purchase e contract fo or gold and s silver concen ntrate with O Ocean Partn mpany that prov vides global t trading servi ices to mine ers, smelters s, and refiner rs, on April 3 30, 2021.

Nicola an nd High Ran nge intend t to obtain a p permit for th he Gold Pro oject for a 10 0,000 tonne e bulk sample. In addition t to the Gold Project, the Company a also announc ces that it is in final stag ges of its mill p preparation t to commenc ce productio on of gold and silver co oncentrate w with Blue La agoon es³.

Resource

The Dom minion Creek k Property is a high-grad de gold syste em in which the vein out tcrops at sur rface. ct samples⁴ t ember 23, 2020, the Company anno ounced that it had assay On Septe yed 23 selec taken from mat terial extract ted from the e Number 16 6 Vein and th he Pit Vein z zones and s sent them to

• ALS

ry⁵ (“ALS La ghts included the Metallurg gy Laborator ab”) located d in Kamloop ps, BC. Sa ample highlig following:



• Sample 204467: 8

81.7 g/t Au a and 136.0 g g/t Ag



• Sample 204473: 10

05.0 g/t Au a and 156.0 g g/t Ag



• Sample 204474: 14

49.0 g/t Au a and 270.0 g g/t Ag

1 Prepaym ment is a revo olving US$50 00,000 prepayment provis sion that allow ws the Comp pany to reque est an advance p prepayment o of its productio on for the pur rpose of work king capital.

2 Ocean P ies, including Partners UK L Limited opera ates in a number of countri g Canada, Chile, China, Cy yprus, etherlands, Peru, Taiwan, Turkey, United Kingdom Mexico, M Mongolia, Ne m, and the U United States s, and retains ag gency represe entation in Ar rgentina, Aust tralia, Bolivia, Brazil, Chile e, Ecuador, In ndia, Japan, South y maintains a strong global and contacts in the Africa, So outh Korea. T The Company l network of r relationships a base meta al mining and d smelting sec ctor.

3 The Com mpany annou unced in its M May 5, 2021 n news release that on April 1, 2021, Blue e Lagoon Inc. . sent to Nicola t the first truck of gold and s silver mill feed d from its Dom me Mountain Gold-Silver M Mine.

4 Select sa es.

amples may n not be indicat tive of Numbe er 16 Vein and d the Pit Vein n zones grade

• Sample 204481: 125.0 g/t Au and 256.0 g/t Ag



Sample 204484: 106.0 g/t Au and 164.0 g/t Ag

The average grade from this sampling is 61.3 g/t Au and 173.7 g/t Ag (see Table 1).

Table 1: Gold and Silver Grades from Select Samples Taken from the 16 Vein and Pit Vein

Subsequent to assaying the 23 samples taken from the Number 16 Vein and the Pit Vein material, the Company took four chip samples across mineralization exposed in a historical trench comprising vein material and adjacent rock, and one grab sample representative of vein material from both exposed veins. The results, which were in a news release dated October 26, 2020, are shown in Table 2, below:

Table 2: Chip Sample and Representative Vein Grab Sample Results.

DOMINION CREEK PROPERTY HISTORY

The Dominion Creek Property consists of 8 contiguous mineral claims (55 units) totaling approximately 1,040 hectares. A 1,180 tonne bulk sample from the South Zone was excavated in 1992 and limited drilling has occurred. The site was owned by Noranda Exploration Company Ltd., who initially completed a small (20 sample) geochemical silt survey in 1986 and was encouraged by those results to complete a larger geochemical soil sampling campaign (3,399 samples). There are two mineralized areas that include a small bulk sample pit and a mineralized outcrop containing multiple distinctive veins.

Eighty tonnes of concentrate was shipped and processed at the Cominco smelter in Trail in 1992. The mill head grade determined for the bulk sample was 14.1 g/t Au and the average gold recovery was 93%⁶. Little material sorting was conducted at the time but visual separation of mineralized rock on site prior to transport is viable. This sorting is expected to increase grade and minimize transportation cost. Noranda Exploration Company Ltd.'s exploration program included 53 diamond drill holes, totaling 3,483.7 meters. Drilling in the South Zone covered an area of approximately 300 meters by 200 meters. Limited drilling in the North Zone covered two small areas (approximately 50 meters by 60 meters) 300 meters apart. The drill targets were selected using the geochemical sample data and outcrop sampling from trenches and drill access roads.

A Technical Report on the Dominion Creek Project ⁷ was completed by Geospectrum Engineering on August 22, 2003.

Qualified Person

Kevin Wells, P. Geo, 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.

About Nicola Mining

Nicola Mining Inc. is a junior mining company listed on the TSX Venture and Frankfurt Exchanges that maintains a 100% owned mill and tailings facility, located near Merritt, British Columbia. The fully-permitted mill can process both gold and silver mill feed via gravity and flotation processes. The Company also owns 100% of the New Craigmont Project, a high-grade copper property, and an active gravel pit that is located adjacent to its milling operations.

On behalf of the Board of Directors

“Peter Espig”

Peter Espig

CEO & Director

For additional information

Contact: Peter Espig Phone: (778) 385-1213 Email: [email protected]

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.

6 Makepiece, D.A. (2003): Technical Report for Dominion Creek Project. Unpublished. Prepared for XMP Mining Limited. p. 41 p 7 Dominion Creek Project: Cariboo Mining Division of British Columbia for XMP Mining Limited and written by David K. Makepeace, M.Eng., P.Eng. of Geospectrum Engineering.