Nicola Mining — Share Issue/Capital Change 2021

Jan 12, 2021

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TSX.V: NIM

NICOLA MINING ANNOUNCES CLOSING OF DEBT SETTLEMENT

VANCOUVER, B.C. , January 12, 2021 – Nico l a Mining I nc . (the “ Company ”) tod a y announce s that, further t o its News R e lease of Jan u ary 4, 2021, i t has receive d approval f r om the TSX Venture Exc h ange for the is s uance of 26 4 ,000 commo n shares (ea c h, a “ Share ”) in settleme n t of $33,000 interest owi n g on convertib l e debenture s (the “ Debt Settlement ” ), which Sh a res were iss u ed on January 11, 2021 . The Shares ar e subject to a statutory h o ld period ex p iring on th e date that is four months and one da y after the closing of the Debt Settlement.

On behal f of the Boar d of Directors

“ Peter Espig ” Peter Es p ig CEO & D irector

For addit i onal inform a tion contact:

Peter Esp i g Telephon e : (604) 647-0 1 42 Email: pe t er@nicolami n ing.com

Neither th e TSX Ventur e Exchange nor its Regulation Services Pr o vider (as that term is define d in the policie s the TSX V enture Excha n ge) accepts re s ponsibility fo r the adequacy or accuracy o f this release.