Mr. Peter Espig reports

NICOLA MINING CONFIRMS FINDER'S FEES PAID IN NON-BROKERED PRIVATE PLACEMENT

Further to Nicola Mining Inc.'s news release of Jan. 29, 2026, in which it announced that it has completed its non-brokered private placement and issued 5,512,001 units at a price of 90 cents per unit for gross proceeds of $4,960,800, the company has confirmed that aggregate cash finders' fees of $126,587.92 were paid to certain eligible finders in connection with the offering.

About Nicola Mining Inc.

Nicola Mining is a junior mining company listed on the TSX Venture Exchange and the 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 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 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.