VANCOUVER, B.C., November 4, 2025 – Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA), (the “Company” or “Nicola”) is pleased to announce that it has completed work at Dominion for 2025 and has completed all mine development for the 10,000 bulk sample, which is planned to recommence in July of 2026. Initially, the Company had planned to ship up to 2000 tonnes to the Nicola mill in 2025 for processing, but opted to wait until next year for two reasons:

Weather: Abnormally high rainfall during August and September would likely degrade the haul road from overuse.

Project Size: During the mine development phase (“Development Phase”), which commenced in August following completion of haul road upgrades, a landing area (“Landing”) was constructed to provide access for vein extraction. The Development Phase included lowering the entire Landing by approximately 6 metres to create a face suited for vein extraction. While developing the Landing, three additional veins were discovered.

Dominion Map Higlighting 2025 Work and Vein Discoveries

Figure 1. Map showing the locations of 3 new veins discovered in 2025.
Note: The map is from 2020 due diligence with additional of veins uncovered in 2025 indicated.

Historically Known Veins:

South Pit Vein: Historically known vein from which previously chip samples were taken in 2020 Link. Samples taken were comprised of two South Pit Samples and two 16 Vein Samples. During 2025, the Company commenced vein extraction in the South Pit Zone, having moved the Landing down and working into the vein approximately 2 metres. Approximately 20 metres from the entrance, the vein expands to approximately 5 metres in width.

16 Vein: This historically known vein is located approximately 20 metres from the South Pit Vein. Chip samples and grab samples were taken from the vein during the October 14, 2020 due diligence process.

Newly Exposed Veins:

Mid-West Vein: Located 13 metres from the South Pit Vein. The vein is approximately 1 metre wide and exposed over 3 metres.
West Vein: Located 12 metres from the Mid-West Vein. The vein is approximately 3 metres wide and exposed over 6 metres.
16 East Vein: Located 1.5-2 metres east of the 16 Vein. It is approximately 1.5 metres wide and exposed over 40 metres.

Samples from the newly exposed veins were taken by site crew and brought to Paragon Geochemical for analysis. Paragon Geochemical is an ISO 17025:2017 accredited geochemical testing laboratory providing analytical services to the mining industry. Results will be released upon receipt.

Figure 6. Mid-West Vein

Mr. Peter Espig, CEO of Nicola Mining Inc., commented, “We have been pleasantly surprised with the work at Dominion, which clearly indicates that the project is larger than initially anticipated. For the 2026 Program, we now have 5 open faces that are accessible from the Landing to give approximately 6 metres of strike length for extraction. These exposed veins also represent attractive exploration targets as they are open at depth.”

Qualified Person

The scientific and technical disclosures included in this news release have been reviewed and approved by Will Whitty, P.Geo., who is the Qualified Person as defined by NI 43-101. Mr. Whitty is Vice President of Exploration for the Company.

DOMINION CREEK PROPERTY HISTORY

The Dominion Creek Property consists of 9 mineral claims (55 units) totaling approximately 1,058 hectares. The property was acquired from the prospector N. Kencayd by Noranda Exploration Company Ltd. in 1986. Noranda subsequently conducted geological, geochemical, and geophysical surveys which culminated in an increase in their land position. Between 1987 and 1990, Noranda’s exploration program included a small (20 samples) geochemical silt sample survey. Encouraged by those results, a larger soil geochemical survey (3,399 samples) was conducted. Noranda drilled a total of 53 shallow diamond drill holes, totaling 3,483.86 meters (average depth of approximately 65.7 meters). Trenching of several coincident Pb, Zn, Cu, Ag and Au soil geochemistry anomalies resulted in the discovery of several mineralized quartz veins.

Drilling in the South Zone covered an area of approximately 300 meters by 200 meters. Limited drilling in the North Zone covered two small areas (approximately 50 meters by 60 meters) 300 meters apart. The drill targets were selected using the soil geochemistry survey data and outcrop sampling from trenches and the drill access road data. Noranda subsequently returned the property to N. Kencayd, who sold it to A. Raven in 1989.

A Technical Report^[1] on the Dominion Creek Project was completed by Geospectrum Engineering on August 22, 2003.

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 10,913 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 includes 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.

[1] Makepeace, D. K., 2003. Dominion Creek Project Technical Report for XMP Mining Ltd. Geospectrum Engineering, August 22.

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