Mr. Peter Espig reports

NICOLA MINING ANNOUNCES WARRANT EXPIRY ACCELERATION

Nicola Mining Inc. is electing to accelerate the expiry of outstanding common share purchase warrants of the company originally issued under financings completed on Feb. 25, 2025, exercisable at 40 cents per common share.

Pursuant to the terms of the warrants, the company may accelerate the expiry date of the warrants if the closing price of the company's common shares on the TSX Venture Exchange equals or exceeds 60 cents for 10 consecutive trading days to the date which is 30 days following the dissemination of a news release announcing the acceleration. As the closing price of the company's common shares has equalled or exceeded 60 cents per share over each of the past 10 trading days ended July 21, 2025, on the TSX-V, it hereby provides notice of the acceleration period in accordance with the terms of the warrants. The company is exercising its right to accelerate the expiry of the warrants originally issued under the financings to 5 p.m. Toronto time on Aug. 20, 2025. Any warrants remaining unexercised after the accelerated expiry date will expire and be of no force and effect.

Proceeds from the exercise of the warrants will be used for general working capital purposes, which may include financing exploration and milling activities.

Peter Espig, chief executive officer of Nicola Mining, commented: "The warrant expiry acceleration is representative of the company's successful execution of multiple milestones, which is reflected in our share price. Nicola is experiencing a confluence of events via gold and silver production and exploration at New Craigmont, both of which we will continue to provide updates."

About Nicola Mining Inc.

Nicola is a junior mining company listed on the exchange and Frankfurt exchange that maintains a 100-per-cent-owned mill and tailings facility, located near Merritt, B.C. It has signed mining and milling profit-share agreements with high-grade gold projects. Nicola's fully permitted mill can process both gold and silver mill feed through gravity and flotation processes.

The company owns 100 per cent of the New Craigmont project, a high-grade copper property, which covers an area of 10,800 hectares along the southern end of the Guichon batholith and is adjacent to Highland Valley copper, Canada's largest copper mine. The company also owns 100 per cent of the Treasure Mountain property, which includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares.