Nicola Mining : Presentation

BRITISH COLUMBIA BASED DIVERSE MINING COMPANY

NICOLA MINING INC. CORPORATE PRESENTATION

APRIL 2024

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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Cert ai n st ate men ts a n d projections in this prese nt atio n are forw ar d-lo okin g sta tem ents a n d forw ar d-l ookin g infor m atio n wit hin t he m e a ni n g of a ppl i ca ble securities laws . Forw ar d-lo okin g i nfor ma tion is freque ntly ch ar acteriz ed b y w or ds s uc h as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" an d ot h er similar w ords, or state men ts t h at certain events or conditi ons "may" occur. Fo rw ar d-l ookin g infor m atio n in this presentati on includes, bu t is not limited to, st ate me nt s reg ar din g the beliefs, plans, ex pect atio ns or intentions of m a n a ge m e nt , as of the d ate of this presentation, re g ardi ng : (i) Nic ola Mi nin g Inc .'s (the "Com p any") a bility to develo p its

explor atio n assets via operatio nal cas h flow from	g ol d co ncent ra te pro ductio n; (ii) t he Co mp a ny 's pl a ns	a n d e x pect atio ns re g ar di n g its pro p ose d 2 023 explor ation
pr o g r a m for its Craigmont Co pper Project; (iii) the	re o peni n g of	its Treasure Mou nt ain	Mine a n d Merritt Gold/Silver Mill Facility (the "Merritt Facility"); (iv) an y	pote ntial
me r ger a n d ac quisitio n ("M&A") or joint venture conc ern in g the	Co m p a n y , in cl u d in g	t he L et te r o f I n t en t	a nn o u nc e d w it h N it t et su Mi ni n g Co . L t d . , on its	mineral

projects . Alth o u gh t he Co m p a n y believes tha t the e xpect ati ons reflected in the for war d-l ookin g infor m atio n are reaso na ble, there c a n b e n o assu ra nce tha t these

expec ta tions a n d ass um p ti ons will pr ove to be correct. Su c h forwar d-lo oking s ta te ments are su bject to risks an d uncert ainties th at m a y c ause	actu al results,
perfo r ma nce or d evel o p men ts to differ materially fro m th ose co nt ai ne d in th e st ate me nts i nclu din g, wi th ou t limita tion, the risks that: (1) fluctuatio ns	in co m m o di ty

pricing, s pecifically copper, g ol d a n d silver; (2) t he Co m p an y's ability to ret ain or en g a g e q u alified em pl oyees or co ntr actors necess ary to c o n duc t m il l oper ations at its Merritt Facility; (3) a dec re ase d d e m a n d for copper, gol d, silver an d other minerals; (4) une x pec te d difficulties with t he milli n g a n d the ext raction of miner als fr o m the Co m p an y 's projects; (5) u ne x pec te d interr up tions a n d pr o ble ms e nco unt ere d in t he o per atio n of the Merritt Facility; (6) factors that dela y or c aus e difficulties in ti min g of shi p me nts of concent ra tes by the Co m p an y; (7) pote ntial ne gati ve fin ancial i m p a ct fro m re gul ato ry investig ations, claims, laws uits a n d o ther le g al pr ocee di ng s an d c halle nges; (8) th at t he Co m p a n y m a y n ot h ave sufficient capit al to o per ate its Merritt Facility or facilitate the further e xplo rati on of its properties; an d

(9) other factors beyond the Company's control .

There is a significant risk th at suc h fo rw ar d-lo okin g st ate me nts will no t prove t o be accur ate. No assu ra nce c a n b e give n t ha t an y of the events a nti cip ate d by the forwa rd -looki ng st ate men ts will occ ur or, if t hey d o occur, wh a t benefits the Co m p a n y will o bt ain fr o m th em . Given t he cu rrent st ate of the glo b al fina ncial markets, gl o b al co m m o di ty markets, especi ally the recent volatility in c op per, g old, a n d silver prices a n d cu rren t eco n o mic co nditions, an y for wa rd -looki ng st ate me nt s or projections m a y be i m p ac te d sig nificantly. Conse que ntly, there is no represe nta tion b y the Co m p a n y t h at act u al results ac hieve d will be th e s a m e as those forecast. You are cau tio ne d no t to pl ace u n d ue reliance o n these forw ar d-l ookin g st ate ments . No forw ar d-l ookin g s t ate me nt is a gu ar an tee of fut ure results . The Co m p a n y discl ai ms a ny intention or obli g ati on to u p d ate or revise any fo rw ar d-lo okin g state men ts, wh et her as a result of ne w inform ation, futu re events or otherwise, e xcept as r equire d by law. A ddi tio nal infor m atio n a bo ut these a n d ot her risks an d uncert ainties are set ou t in the secti on e ntitled "Risk Factors" in the Co m p a ny 's MD& A filed o n SE D A R at www.sedarplus .ca .

CAUTIONARY NOTE REGARDING TECHNICAL INFORMATION

Unless otherwise indicated, all scientific and technical information in this presentation regarding the Craigmont Project is derived from the Company's technical report entitled "NI 43-101 Technical Report on the Preliminary Copper Resource for the Southern Dump and 3060 Portal Dumps" dated May 21, 2020 (the "Craigmont Technical Report") prepared by Kevin Wells, P Geo., and James N. Gray, P Geo. and all scientific and technical information in this presentation regarding the Treasure Mountain Property is derived from the Company's technical report entitled "Technical Report, Project Update Treasure Mountain Property Tulameen River Area, BC, Canada" dated June 7, 2012 prepared by Erik A. Ostensoe, P. Geo., Gary, H. Giroux, MASc., P. Eng. and Jim Cuttle, P. Geo. Such information is based on assumptions, qualifications and procedures which are not fully described herein. Reference should be made to the full text of these documents which were filed under the Company's profile on SEDAR at www.sedarplus.ca. on June 1, 2020, and June 12, 2012, respectively. Kevin Wells, P. Geo., is a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and is responsible for and has approved the technical contents of this presentation relating to the Craigmont Project. Al Beaton, P. Eng., the Company's mine manager, is a Qualified Person under NI 43-101 and is responsible for and has approved the technical contents of this presentation relating to Treasure Mountain.

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NICOLA MINING INC.

About

offers a unique investment opportunity, combining robust exploration potential in key metals with stable operational revenues.

Strong Operational Cashflow

Gold Concentrate Production

NICOLA MINING INC.

Nicola Mining Inc. is a public resource mining company with a successful management team experienced in consolidating and unlocking asset value of its high-potential assets.

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Merritt Mill and Tailings Facility, Sand and Gravel Property and Cement Plant (under construction) generate revenue that supports Nicola's exploration activities without the need for excessive capital raises.

Proven High-grade Copper

The New Craigmont Project boasts high-grade copper resources evidenced by multiple copper intercepts grading over 1.0% Cu. Well- established infrastructure, including road access and proximity to local town amenities.

Nicola Mining Inc. has forged Milling and Profit Share Agreements with several key partners, starting gold concentrate production in 2023. A sales contract also enables global distribution of the concentrate.

Permitted Silver Mine

The Treasure Mountain Project is a high-gradesilver-lead-zinc mine that is fully permitted (M-239) for mining operations. The property is recognized for its exploration potential, suggesting opportunities for resource expansion.

DIVERSIFIED CORE ASSETS

NEW CRAIGMONT COPPER PROJECT

• 100% ownership of the high-grade historic Craigmont Copper Mine
• Proven high-grade copper skarn
• Received multi-yeararea-based (MYAB) exploration permit
• 2023 exploration results indicate a porphyry copper system

MERRITT GOLD/SILVER MILL FACILITY

• British Columbia's only mill permitted to process material province-wide
• 100% ownership of $30.0 million facility near Merritt, BC
• Modern flotation facility producing gold and silver concentrate
• Gold production commenced in 2023

TREASURE MOUNTAIN SILVERMINE

• High-gradeAg-Pb-Zn mine
• Fully-permitted(M-239)
• NI 43-101 Resource Estimation
• Company may consider reopening the mine in the future

SAND AND GRAVEL PROPERTY

• An active running gravel pit
• Permitted for 60,000 tonnes per year
• The material supported the Ministry of Transport and Infrastructure for highway infrastructure repairs

DOMINIONCREEKPROPERTY

• Executed Definitive Agreement to acquire a 50% ownership and 75% economic stake1
• Initial grab samples (23) averaged 61.3 g/t Au and 173.7 g/t Ag2

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1. See the Company 's news release dated September 23, 2020, which is f iled under the Company 's prof ile on SEDAR atwww.sedarplus.ca
2. See the Company 's news release dated October 14, 2020, which is f iled under the Company 's prof ile on SEDAR atwww.sedarplus.ca

LOCATION

Elephant Country

Southern BC is known for large- scale mines like Highland Valley and New Afton. Favourable geology in the region supports major mineral deposits, making it a prime location for significant mining ventures.

EstablishedInfrastructure

Direct access to Highway 8, BC Hydro's power grid, established water permits, and proximity to urban centres give the New Craigmont project a strategic infrastructure advantage.

Politically Stable

British Columbia boasts a mining- friendly regulatory framework with efficient permitting processes, coupled with robust government support through incentives, grants, and geological surveys.

Tech-workforce Synergy

Southern BC benefits from a skilled workforce adept in the latest mining technologies. This synergy enhances both exploration efficiency and sustainable mining practices.

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MERRITT MILL FACILITY

The only facility permitted to process gold and silver from sources throughout the province of British Columbia.

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Capoose

BlackwaterBarkerville Cariboo

3Ts

Bullion Pit

Mount Polley	Spanish Mountain

Frasergold

Newton

New Prosperity

J & L

Poison Mountain

New Afton
Highland Valley	Ajax

MERRITT MILL SITE

Kena

Prospect Valley

Ladner Creek
Copper Mountain
	Deadwood	Oro Denero
Giant Copper

MERRITT MILL

The Merritt Mill benefits from BC's high regulatory requirements that imply multi-year approval processes and high CAPEX costs for mill and infrastructure construction.

The Merritt Mill site is freehold and is zoned as an industrial site.

The Gold-Silver Inventory Proximal map is not to imply that the Company will be able to benefit from the various projects noted or that such projects will have any relationship with the Company. Data from BC Data Catalogue

MERRITT MILL

Location

The Company has secured Milling and Profit Share Agreements with notable partners including Blue Lagoon Resources Inc., Osisko Development Corporation, and Talisker Resources Ltd. Gold/silver concentrate production recommenced in January 2023.

Global Sales

Through a purchase contract with Ocean Partners UK Ltd., a firm specializing in global trading services, Nicola Mining Inc. is enabled to sell gold and silver concentrate worldwide.

NEW CRAIGMONT PROJECT

Formerly the highest-grade major copper mine in North America and a significant source of copper for world markets.

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NEW CRAIGMONT

The site has excellent infrastructure:

• Paved road right to site.

• Adjacent to major highway (BC Highway 8 and Coquihalla).

• Connected to power (Mill is on BC Hydro grid).

The right land package:

• Holds mine and mill permit (Permit M-68).

• 10,800+ ha of 100% owned mineral claim tenures.

In the right rocks:

• Historically, the mine produced ~890 million pounds of copper.

• Shares the regional geologic setting with TECK's Highland Valley Copper District, one of North America's largest copper producers.

• 2023 drilling exploration indicative of a porphyry copper system.

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