Vancouver, British Columbia--(Newsfile Corp. - June 26, 2026) - Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) (the "Company" or "Nicola") is pleased to announce the successful completion of the inaugural drill hole at the newly identified Jotun target within its wholly owned New Craigmont Copper Project ("New Craigmont"), located near Merritt, British Columbia. The first-ever drill hole at Jotun has confirmed the presence of geological characteristics consistent with a highly prospective porphyry copper target, further validating the Company's evolving exploration model and reinforcing the significant discovery potential of the broader New Craigmont property.
In addition to diamond drilling at Jotun, Nicola completed an extensive soil geochemistry program over the Draken target, another emerging porphyry centre, and an airborne geophysical survey covering the entire New Craigmont property (collectively, the "2026 Program").1 The 2026 Program represents the most comprehensive and technically advanced porphyry exploration campaign ever undertaken by the Company at New Craigmont. The integration of drilling, geochemistry, and property-wide geophysics is expected to significantly enhance target definition, improve vectoring toward potential mineralized centres, and establish a robust technical framework for systematic exploration. The resulting dataset is anticipated to substantially refine future drill targeting and position the Company for an aggressive and highly focused exploration program in 2027.
Figure 1. Location Map of the Exploration Activities (Drilling and Soil Sampling)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4873/302886_f1.jpg
Diamond Drilling
Drill hole JT-26-001 was completed to a depth of 840 metres at the newly identified Jotun target, a compelling porphyry copper target generated through the integration of multiple datasets, including geophysical anomalies, epidote geochemistry, historical near-mine drilling, and its favourable spatial relationship to known surface copper showings. The target represents a key component of Nicola's evolving district-scale exploration model at New Craigmont and was selected as a high-priority drill target based on its potential to host a significant porphyry system.
JT-26-001 intersected predominantly hornblende diorite of the Guichon Creek Border Phase, consistent with the Company's geological interpretation. Throughout the hole, alteration intensity varied considerably, transitioning between propylitic, sericitic, and potassic assemblages, indicative of a dynamic and evolving hydrothermal environment. The occurrence of these alteration styles over a substantial vertical extent is considered highly encouraging and supports the presence of a large-scale mineralizing system.