Nicola Mining Announces Mineral Claim Acquisitions and Expansion of New Craigmont Land Package

Vancouver, January 7, 2020 - Nicola Mining Inc. (TSXV: NIM) (the "Company" or "Nicola") is pleased to announce successfully staking mineral claims totaling 828 hectares to the immediate south of the New Craigmont Property ("New Craigmont") (Figure 1). The extension expands the Company's land package to 10,913 hectares.

Figure 1: New Craigmont Property with recent mineral claim acquisition
To view an enhanced version of Figure 1, please visit:
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This strategic acquisition expands the tenure to cover the SID copper showing. This is part of Nicola Mining's target generative work, in which the geological team is re-evaluating copper showings from the perspective of a large hydrothermal alteration system.

Scientific and Technical Information

All information of a scientific or technical nature contained in this document, has been reviewed and approved by Kevin Wells, P. Geo., a consulting Geologist to Nicola Mining. Wells is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Nicola Mining

Nicola Mining Inc. is a junior mining company listed on the TSX Venture Exchange and is in the process of recommencing mill feed processing operations at its 100% owned state-of-the-art mill and tailings facility, located near Merritt, British Columbia. It has already signed four mill profit share agreements with high grade gold producers. The fully-permitted mill can process both gold and silver mill feed via gravity and flotation processes. The Company also owns 100% of Treasure Mountain, a high-grade silver property, and an active gravel pit that is located adjacent to its milling operations.

About New Craigmont

In November of 2015, Nicola became the first group in decades to consolidate ownership of the New Craigmont Project (the "Property") and has been actively conducting mineral exploration since. The Property is a wholly-owned copper property with an active mine permit (M-68), located 33 km south of the world-class Highland Valley porphyry district. It lies at the southern contact between the Nicola Group rocks and Guichon Creek batholith, of which the latter is known to be a precursor to mineralization at Highland Valley.

For further details on the Property, see the technical report entitled "Technical Report on the Thule Copper- Iron Property, Southern British Columbia, Canada", filed on May 8, 2013 on Sedar at www.sedar.com.

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.

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