Mr. Peter Espig reports

NICOLA MINING ANNOUNCES SUCCESSFUL ACCELERATED WARRANT EXERCISE

All shareholders holding share purchase warrants issued pursuant to financings completed on Feb. 25, 2025, have exercised all the outstanding warrants. A total of 2,019,047 warrants were exercised at 40 cents per common share for gross proceeds of approximately $807,791.

The company gave notice to the holders of the warrants by press release on July 21, 2025, that an acceleration event had occurred during the term of the warrants and the expiry date of the warrants was thereby accelerated to 30 days after the date of the notice, resulting in a new expiry date of Aug. 20, 2025.

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 with high-grade gold projects. Nicola's fully permitted mill can process both gold and silver mill feed via 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 include 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares.