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NIM: Successful 2024 Drill Campaign; Setting Up for 2025

What you need to know:
• Nicola announced drill results from its 14-hole, 4,874m drill program at its New Craigmont Copper Project.
• Hole NC-24-002 intersected 1.03% Cu over 52.9m, highlighting significant copper mineralization at this target.
• We remind readers of NIM’s partner Blue Lagoon Resources which recently secured final mine permits for its Dome Mountain Gold Project. Nicola has a milling and profit-sharing agreement with Blue Lagoon.

This morning, Nicola Mining Corp. (NIM:TSXV, HUSIF:OTC) announced drill results on its highly successful 2024 drill campaign at its New Craigmont Copper Project, near Merritt, B.C. The Company completed 4,874m of drilling in 14 holes at various targets across the large property with significant copper mineralization found and key targets derived for its 2025 program. We are maintaining our BUY rating and $0.60/share target price on Nicola Mining.

The 2024 program was successful in discovering significant copper findings in the MARB / CAS Zones, which haven’t seen copper exploration since the 1960s. The program was successful in drilling shallow holes to confirm mineralization and deriving targets for deeper drilling in 2025. The near surface findings of chalcopyrite, faults, and dykes within the Guichon host rock provide an ideal environment for a much larger copper system. The Embayment Zone drilling was successful in expanding the zone and intersected the best intercept of the program in hole NC-24-022 below. Highlights from the program include:

• MB-24-001: 0.10% Cu over 40.5m, including 0.34% Cu over 9.48m
• MB-24-004: 0.11% Cu over 28.3m, including 0.23% Cu over 10.86m
• NC-24-001: 0.17% Cu over 56.6m, including 0.23% Cu over 33.8m
• NC-24-002: 1.03% Cu over 52.9m, including 3.46% Cu over 13.0m

We remind readers that NIM is focused on discovering a sizeable copper deposit at its New Craigmont Project. Additionally, it will fund this exploration primarily with cashflows from its Merritt Milling facility which ultimately could process its own ore from New Craigmont. We believe it is likely that NIM can discover a solid deposit based on the positive drilling to date, the presence of the historic high-grade copper mine on the property, as well as Nicola’s neighbours who hold tier-1 assets (Teck Resources’ Highland Valley Copper Mine adjoining New Craigmont to the north and New Gold’s New Afton Mine north of Highland Valley).