Nicola Mining Reports Treasure Mountain Mine in Better-Than-Anticipated Condition Ahead of Planned 2027 Restart

Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) announced the results of an independent underground inspection and factual assessment of its Treasure Mountain Silver Mine in British Columbia as the company evaluates reopening the mine in 2027. McElhanney Ltd., an independent Canadian engineering and consulting firm, found the mine to be in generally better condition than anticipated after approximately 13 years of inactivity, potentially expediting the timeline for recommencing mining activities.

The assessment revealed that both principal portals remain accessible, significant portions of the underground development remain open, natural ventilation is functioning, and much of the historical infrastructure remains in place. No conditions were observed that would prevent the project from advancing to the next stage of evaluation. The mine's better-than-expected condition is a positive indicator for Nicola's plans to restart operations, as it could reduce the time and capital required for rehabilitation.

Furthermore, the assessment identified accessible underground drill stations, partially developed headings, unexplored areas, and potential unprocessed material that could provide exploration opportunities. These findings suggest that the mine may hold untapped potential for resource expansion and could offer additional value beyond the existing mineral reserves. Nicola plans to advance a detailed geotechnical and rehabilitation assessment, followed by surveying and mapping, with the work expected to support subsequent mine planning, ventilation design, rehabilitation, and the recommencement of mineral extraction.

CEO Peter Espig commented on the significance of the existing underground development, stating that combined with Nicola's permitted Merritt milling infrastructure, it could provide a disciplined and capital-efficient pathway toward renewed silver production. The Merritt mill is fully permitted and can process both gold and silver mill feed via gravity and flotation processes, enhancing the project's economic viability.

The Treasure Mountain Property includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares. This asset, along with the New Craigmont Project—a high-grade copper property covering 10,913 hectares adjacent to Canada's largest copper mine—positions Nicola Mining as a company with a diversified portfolio of mineral assets in British Columbia.

The positive assessment of the mine's condition is a key development for Nicola Mining as it moves toward a planned 2027 restart. The ability to leverage existing underground infrastructure could significantly lower the capital expenditure typically required for mine re-openings, making the project more attractive from a financial standpoint. Investors and stakeholders will be watching closely as the company proceeds with further assessments and planning.

For more detailed information, the full press release is available at https://ibn.fm/HdSg9. Additionally, the latest news and updates regarding Nicola Mining can be found in the company's newsroom at https://ibn.fm/NICM.