(NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA)

Not for Distribution to United States News Wire Services or for Dissemination in the United States

VANCOUVER, B.C, January 30, 2026 - Nicola Mining Inc. (the "Company" or "Nicola Mining") announces that, further to its News Release of January 29, 2026, in which it announced that it has completed its non-brokered private placement (the "Offering") and issued 5,512,001 units (each, a "Unit") at a price of $0.90 per Unit for gross proceeds of $4,960,800, the Company confirms that aggregate cash finder's fees of $126,587.92 was paid to certain eligible finders in connection with the Offering.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Nicola Mining

Nicola Mining Inc. is a junior mining company listed on the TSX Venture 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 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% 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.

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
URL: www.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.

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