Mr. Peter Espig reports

NICOLA MINING COMMENCES 10,000 TONNE BULK SAMPLE AT HIGH GRADE DOMINION CREEK MINERAL PROJECT

Nicola Mining Inc. has commenced work on its 10,000-tonne bulk sample at its Dominion Creek mineral project, a high-grade gold and silver project, of which Nicola owns a 75-per-cent economic interest.

Nicola has already purchased in cash and installed a 14-man camp, which includes fully furnished rooms and all required facilities. A bridge has been installed, equipment has been mobilized, and contractors are at site. Road work, which includes improvements to the bulk sample site, has commenced and is expected to be completed prior to Aug. 10, 2025, after which extraction can commence.

The company announced on March 6, 2025, that it has been issued a draft permit by the British Columbia Ministry of Mining and Critical Minerals to extract 10,000 tonnes of gold and silver ore at Dominion, which is located 43 kilometres northeast of the town of Wells and approximately 110 kilometres east-southeast of Prince George.

The company announced in its Oct. 14, 2020, news release that it had conducted a 9.7-kilogram surface sample, which returned the following grades:

• 62.1 grams per tonne gold;
• 320 grams per tonne silver;
• 23.4 per cent lead and 12.4 per cent zinc.

In addition to surface sampling, chip sampling from the vein's surface outcropping also returned high-grade gold and silver assays (Oct. 26, 2020, news release).

Peter Espig, chief executive officer of Nicola Mining, commented: "We are very excited to commence production at our Dominion project, which highlights the strength of our mill's permitting and location as a destination for small-project B.C. gold production. Putting Dominion's bulk sample into a position of extraction is the culmination of years of effort, with accolades going out to our employees and partner, High Range Exploration. We feel that B.C. is undergoing a renaissance as small high-grade projects are receiving the support of first nations, communities and ministries."

Qualified person

William Whitty, PGeo, vice-president of exploration for the company, is the qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and has reviewed and approved the technical disclosure contained in this news release.

About Nicola Mining Inc.

Nicola Mining 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 for 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 10,913 hectares along the southern end of the Guichon batholith and is adjacent to Highland Valley, 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.