Nicola Mining’s First Drill Hole at Jotun Target Confirms Porphyry Copper Potential

Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) has reported encouraging results from its first-ever drill hole at the newly identified Jotun target within the New Craigmont Copper Project in British Columbia. The 840-meter drill hole intersected multiple hydrothermal alteration styles, structurally controlled native copper mineralization and bornite-bearing veins, confirming geological characteristics consistent with a prospective porphyry copper system. This marks a significant step in the company’s evolving exploration model, identifying Jotun as a priority target for additional drilling.

The New Craigmont Copper Project, which Nicola Mining owns 100% of, covers 10,913 hectares along the southern end of the Guichon Batholith and is adjacent to Highland Valley Copper, Canada’s largest copper mine. The Jotun target is a newly identified area within this property, and the initial drill results support the company’s hypothesis that a porphyry copper system may be present. Porphyry copper deposits are a primary source of copper, a critical metal for electrification and renewable energy technologies.

In addition to the drilling, the company completed a property-wide Mobile Magnetotelluric geophysical survey and an extensive Mobile Metal Ion soil sampling program over the Draken target as part of its 2026 exploration campaign. Nicola said the integrated drilling, geochemical and geophysical data will refine future drill targets and support an expanded exploration program in 2027. Additional geochemical analyses from the Jotun drill hole are expected later this year, which could provide further insights into the potential size and grade of the system.

Nicola Mining is a junior mining company listed on the TSX Venture Exchange and Frankfurt Exchange. It maintains a 100% owned mill and tailings facility near Merritt, British Columbia, and has signed Mining and Milling Profit Share Agreements with high-grade gold projects. The company’s fully permitted mill can process both gold and silver mill feed via gravity and flotation processes.

The announcement comes amid growing demand for copper, driven by the global transition to clean energy. Copper is essential for electric vehicles, solar panels, wind turbines, and power grids. With Canada positioning itself as a key supplier of critical minerals, projects like New Craigmont could play a role in meeting future demand. Nicola Mining’s progress at Jotun will be closely watched by investors keen on the copper market.

For more information, the full press release is available at https://nnw.fm/CQfwb. The latest news and updates relating to NICM are available in the company’s newsroom at https://nnw.fm/NICM.

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