Nicola Mining Inc. announce completing final preparations to commence operations in First Quarter of 2023. Currently, the Company has received in excess of 15,000 tonnes of gold mill feed from Osisko Development Corp's. Cariboo Gold Project. The Company has hired employees to fill key positions required for gold production.

Under the Agreement, Osisko may transport material to Nicola's mill site, located near Merritt, British Columbia. Nicola's Merritt Mill site is a unique milling and processing facility because the Company owns the industrial-zoned site free-hold. In addition, it is the only facility in the Province of British Columbia permitted to accept third party gold and silver mill feed from throughout the province.

In addition to gold production, the Company expects to receive final results from its 2022 soil sampling program at New Craigmont Property and is preparing for an extensive exploration program in 2023 (the ‘2023 Exploration Program'). Soil results will be published upon receipt and will be incorporated, along with results from its district-wide airborne geophysical Z-axis Tipper Electromagnetic (‘ZTEM') survey to finalize drill hole locations. The ZTEM survey included inversion modeling carried out across its wholly owned New Craigmont Property has imaged the electrical conductivity signature of known mineral occurrences (‘MINFILEs1').