The Magpies, 1-0 down with full-time looming, were hit on the break by the Grecians, Ryan Harley making it 2-0 and seemingly putting the game to bed.
But, inside four minutes of added time, Richard Duffy and Jorge Grant struck to secure the unlikeliest of points.
And Nolan was understandably thrilled with the final outcome.
He said: "I'm absolutely delighted with the character the lads have shown.
"Obviously you don’t feel as confident at 2-0 that you’re going to get back into it, but you’ve got to believe. If you get one you can get two - and we did.
"You felt a buzz around the stadium and that drove the lads on. We deserved at least a point out of the game tonight."
Notts' next fixture takes them to Leyton Orient and Nolan is keen to see his players keep level heads despite tonight's euphoria.
The manager said: "When you do what we’ve done in the last four/five minutes in this game you can’t get carried away, but what you can take from it is having a team we can all be proud of. We can look at each other and know we’re all in this together.
"We know it’s going to be tough from now until the end of the season but tonight goes a long way towards what we’re trying to achieve - which is to get some consistency and try and get a run going."
Supporters can watch the manager's full post-match interview on Magpie Player HD