Nicola Mining Reports Encouraging Results From Initial Jotun Drill Hole at New Craigmont Copper Project

Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) announced that its first-ever drill hole at the newly identified Jotun target within the New Craigmont Copper Project in British Columbia confirmed geological characteristics consistent with a prospective porphyry copper system. The 840-meter drill hole intersected multiple hydrothermal alteration styles, structurally controlled native copper mineralization and bornite-bearing veins, supporting the company’s evolving exploration model and identifying Jotun as a priority target for additional drilling.

The company also completed a property-wide Mobile Magnetotelluric geophysical survey and an extensive Mobile Metal Ion soil sampling program over the Draken target as part of its 2026 exploration campaign. Nicola said the integrated drilling, geochemical and geophysical data will refine future drill targets and support an expanded exploration program in 2027, while additional geochemical analyses from the Jotun drill hole are expected later this year.

These results are significant because they validate the company's exploration model and highlight the potential of the New Craigmont Project, which covers 10,913 hectares adjacent to Highland Valley Copper, Canada's largest copper mine. The confirmation of a porphyry copper system at Jotun could lead to the discovery of a major copper deposit, which is critical given the growing demand for copper in renewable energy and electric vehicle technologies.

For more details, view the full press release at https://nnw.fm/CQfwb. Nicola Mining's fully permitted mill can process both gold and silver mill feed via gravity and flotation processes. The company also owns 100% of the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease spanning over 2,200 hectares.

The latest news and updates relating to NICM are available in the company’s newsroom at https://nnw.fm/NICM.