File: '\\swfile\EmailIn\20251006 152542 Attachment NICOLA News Release announcing engagement of Atrium Research.docx'

#79671726v2 - NICOLA News Release announcing completion of exercise of accelerated warrants

80614821\1

TSX.V: NIM

FSE: HLIA

OTCQB: HUSIF

NICOLA MINING INC. ENGAGES ATRIUM RESEARCH CORPORATION

VANCOUVER, BC, October 6, 2025 - Nicola Mining Inc. (TSX.V: NIM) (FSE: HLIA) (OTCQB: HUSIF), (the "Company" or "Nicola") is pleased to announce it has engaged the services of Atrium Research Corporation ("Atrium"), a leading company sponsored research firm. Atrium will publish various research reports on Nicola based on publicly available information, industry data, and discussions with management. Atrium will also host four recorded interviews with Nicola's management team to present the investment case in an interview format. In exchange for its research services, Atrium will receive cash compensation in the amount of $2,900 per month for the services listed above. The services will be provided for 24 months beginning on October 15th, 2025. This engagement is subject to TSX Venture Exchange approval.

Atrium and the Company are arm's-length parties, and neither Atrium nor its insiders holds any shares or options to purchase shares in the issued and outstanding capital of the Company.

ABOUT ATRIUM RESEARCH

Atrium Research provides institutional quality company sponsored research on public equities in North America. Its investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Its research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, and an in-depth valuation analysis. Atrium Research is wholly owned and operated by its Co-Founders, Ben Pirie and Nicholas Cortellucci.

About Nicola Mining

Nicola Mining Inc. is a junior mining company listed on the Exchange and Frankfurt Exchange that maintains a 100% owned mill and tailings facility, located near Merritt, British Columbia. 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% 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% of the Treasure Mountain Property, which include 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares.

On behalf of the Board of Directors

"Peter Espig"

Peter Espig

CEO & Director

For additional information

Contact: Peter Espig

Phone: (778) 385-1213

Email: info@nicolamining.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.