Vancouver, British Columbia--(Newsfile Corp. - December 11, 2023) - Nicola Mining Inc. (TSXV: NIM) (FSE: HLI) (OTCQB: HUSID) (the "Company" or "Nicola") is pleased to provide its "Year in Review: 2023", with the hope of providing additional clarity on several key milestones that were achieved in 2023. In addition to highlighting the significance of noteworthy events, we are hopeful that this letter can provide clarity on key news releases and insight into next year.

Financially the Company has undergone a positive metamorphosis; we ended Q3 with close to $6.0 MM in cash versus $0.8 MM one year earlier. For the first nine months of the year, Nicola achieved positive earnings, a unique characteristic amongst junior mining companies. Revenues were attributed to the following sources: milling, gravel and rock quarry, and reclamation soils. In addition to the current cash position, the Company was able to repay a US$750,000 (C$1,028,475) Prepayment Facility to Ocean Partners UK Limited[1] ("Ocean Partners")[2]. The relationship between Nicola and Ocean Partners was further strengthened when the co-CEO of the latter joined our board of directors[3].

It is best to break down the Year in Review by separating the Company's projects. see & read more on
https://www.newsfilecorp.com/release/190397/Nicola-Provides-Year-in-Review-2023