Nicola Mining Receives Five Year Mine Life Extension for Its Flagship Copper Project New Craigmont Property

Rhea-AI Summary

Nicola Mining (OTCQB: HUSIF) has secured a significant five-year extension for six Mining Leases at its New Craigmont Property from the Ministry of Mining and Critical Minerals. The property, spanning over 10,800 hectares, is strategically located adjacent to Canada's largest copper mine, Teck Resources' Highland Valley Copper.

The company's CEO Peter Espig highlighted their recent exploration activities focusing on identifying a porphyry system, moving beyond traditional skarn exploration. The extension of mining permits (M-68) and leases positions the company to potentially accelerate the transition from exploration to operational status while maintaining environmental and consultation commitments.

Positive

• Secured five-year extension for six Mining Leases
• Strategic location adjacent to Canada's largest copper mine
• Property includes site of Canada's highest grade historic copper mine
• Large land package of over 10,800 hectares
• Existing mining permits could expedite transition from exploration to operations

Negative

• Currently still in exploration phase with no active mining operations
• Exploration success in identifying porphyry system not yet confirmed

Vancouver, British Columbia--(Newsfile Corp. - September 17, 2025) - Nicola Mining Inc. (TSXV: NIM) (OTCQB: HUSIF) (FSE: HLIA) (the "Company" or "Nicola Mining") is pleased to announce that it has received six Mining Lease extensions for five years from the Ministry of Mining and Critical Minerals. The six Mining Lease extensions (together, "Mine Lease Extensions"), 237642 to 237647, extend its wholly-owned New Craigmont Property (the "Property") for five years, which is located adjacent to Teck Resources Ltd.'s Highland Valley Copper, Canada's largest copper mine.

The Mine Lease Extensions hold significant value for the Company's over 10,800-hectare project, which is the location of Canada's highest grade historic copper mine.

Peter Espig, CEO of Nicola, commented, "This year we have actively conducted exploration that was not focused on skarn, but vectoring towards a porphyry system. Maintaining mine permits (M-68) and garnering Mine Lease Extensions can significantly expedite a projected moving from exploration to operation. At Nicola, we have, and will continue to, work diligently on environmental, consultation, and maintaining permits in good standing."

About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the 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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266764

FAQ

What mining lease extension did Nicola Mining (HUSIF) receive in September 2025?

Nicola Mining received a five-year extension for six Mining Leases (237642 to 237647) for its New Craigmont Property from the Ministry of Mining and Critical Minerals.

Where is Nicola Mining's New Craigmont Property located?

The New Craigmont Property is located adjacent to Teck Resources Ltd.'s Highland Valley Copper, which is Canada's largest copper mine.

How large is Nicola Mining's New Craigmont Property?

The New Craigmont Property spans over 10,800 hectares and includes the site of Canada's highest grade historic copper mine.

What is Nicola Mining's current exploration focus at New Craigmont?

The company is currently conducting exploration focused on vectoring towards a porphyry system, moving beyond traditional skarn exploration.

How could the mining lease extensions benefit Nicola Mining's operations?

The extensions, along with existing mine permits (M-68), could significantly expedite the project's transition from exploration to operational status.