Mr. Peter Espig reports

NICOLA MINING ANNOUNCES STRATEGIC INVESTMENT FROM OCEAN PARTNERS

Nicola Mining Inc. will complete an additional investment from Ocean Partners U.K. Ltd. (1), which has agreed to participate in a strategic non-brokered private investment of $1-million to strengthen the company's balance sheet as it prepares to uplist onto Nasdaq in first quarter of 2026.

The company will issue 1,111,112 units at a price of 90 cents per unit for gross proceeds of up to $1-million.

Each unit will consist of one common share of the company and one transferable common share purchase warrant. Each warrant will entitle the holder to purchase one additional share at a price of $1.10 per share for a period of three years following the closing of the offering. The expiry of the warrants may be accelerated if the closing price of the company's common shares on the TSX Venture Exchange is $1.70 or greater for a minimum of 10 consecutive trading days, provided that a notice of acceleration is issued in accordance with the terms of the warrants.

All securities issued in connection with the offering will be subject to a statutory holding period expiring four months and one day after closing of the offering. Completion of the offering is subject to the approval of the exchange. Any participation by insiders in the offering will constitute a related-party transaction under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions) but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

The aggregate gross proceeds from the sale of the offering will be used for general working capital.

Strategic adviser -- Rahim Kassim-Lakha of Blue Sail Capital

Nicola is also pleased to announce the appointment of Rahim Kassim-Lakha, founder and chief executive officer of Blue Sail Capital, as strategic adviser. With nearly 30 years of investing in global capital markets and merger-and-acquisition experience, Mr. Kassim-Lakha has a proven record in raising capital and structuring transactions. He has held senior roles at Fidelity Capital and U.S. global investors, where he managed over $1-billion (U.S.) across three award-winning funds. As strategic adviser, he will provide guidance on capital market strategy and corporate development opportunities as Nicola advances its projects.

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 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 over 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 is a fully permitted high-grade silver mine and includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares.

(1) Ocean Partners operates in several countries throughout the world. Ocean Partners maintains a strong global network of relationships and contacts in the base metal mining and smelting sector.