Mr. Peter Espig of Nicola reports

NICOLA MINING AND BLUE LAGOON RECEIVE FIRST PAYMENT FOR GOLD AND SILVER UNDER LONG TERM PARTNERSHIP

Nicola Mining Inc. and Blue Lagoon Resources Inc. have sold $1.0-million (U.S.) gold and silver to Ocean Partners U.K. Ltd. (1). Blue Lagoon continues to provide steady shipments since the commencing of gold and silver mill feed hauling, as announced on Dec. 1, 2025 (2). The two parties had previously announced (3) a commitment to a long-term partnership (4).

Peter Espig, chief executive officer of Nicola, commented: "Nicola is very excited to work closely with Blue Lagoon as the two companies mutually ramp up production and revenues, amidst strong precious metal prices. Blue Lagoon's management has done an incredible job in spearheading the project through permitting and mine development to becoming a producer."

Qualified person

Cameron Lilly, PEng, the company's mill manager, is the qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and supervised the preparation of, and has reviewed and approved, the technical information in this news release.

About Nicola Mining Inc.

Nicola Mining is a junior mining company listed on the Canadian Securities Exchange and Frankfurt Stock 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 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 per cent 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.

(2) News release dated Dec. 1, 2025.

(3) Nicola Mining news release dated June 23, 2025.

(4) Blue Lagoon news release dated Sept. 29, 2025.