NICOLA MINING INC.

Technical Information

Unless otherwise noted, the disclosure contained in this AIF of a scientific or technical nature for the New Craigmont Project is based on the technical report prepared by Kevin Wells, P.Geo., and James N. Gray, P.Geo. dated May 21, 2020 and entitled “NI 43-101 Technical Report on the Preliminary Copper Resource for the Southern Dump and 3060 Portal Dumps” prepared in accordance with the requirements of NI 43-101.

Any mineral reserve or resource figures, and scientific, technical, or projected economic information or estimates referred to in this AIF are estimates, and no assurances can be given that the information will materialize. Such information is based on expressions of judgment based on knowledge, mining experience, analysis of drilling results and industry practices. Valid estimates made at a given time may significantly change when new information becomes available. While the Company believes that the information included in this AIF is well established, the information by its nature is imprecise and depends, to a certain extent, upon statistical inferences which may ultimately prove unreliable. If such estimates of such information are inaccurate or are reduced in the future, this could have a material adverse impact on the Company.

Reference should be made to the full text of the Technical Report which has been filed with Canadian securities regulatory authorities pursuant to NI 43-101 and is available for review under the Company’s profile on SEDAR+ at www.sedarplus.ca.

William Whitty, P. Geo., the VP of Exploration of the Company and a “Qualified Person” under NI 43-101, reviewed and approved the written scientific and technical disclosure contained in this AIF.

Nicola Mining Inc. | Annual Information Form Page 3