Nicola Mining starts 800 m drill program at MB Zone

Nicola Mining begins four-hole, 800 m drill program at the high-potential MB Zone at Treasure Mountain, following earlier high-grade silver-lead-zinc surface samples.

Rhea-AI Filing Summary

Nicola Mining Inc. (NICM) has started its 2026 diamond drilling program at the Treasure Mountain Property in British Columbia, focusing on the previously undrilled MB Zone about 1 km northwest of the historical Treasure Mountain silver mine. The four-hole program totals approximately 800 m and is designed to test quartz-sulphide veins at depth that were previously sampled at surface.

Historical surface samples from the MB Zone returned high grades, including 1,300 g/t silver, 2.59 g/t gold, 27.4% lead and 27.2% zinc in one sample, and other samples with strong silver, zinc and copper values. Initial core from the first hole shows visually intense sulphide mineralization, but Nicola emphasizes that assay results from AGAT Laboratories will guide interpretation, with results expected by year-end.

Key Figures

Drill program length: 4 holes totaling approximately 800 m Distance to Treasure Mountain: 30 km Sample 2100151 grades: 813 g/t Ag, 0.52 g/t Au, 19% Zn, 4.66% Cu +4 more

7 metrics

Drill program length 4 holes totaling approximately 800 m 2026 TM Program targeting the MB Zone at Treasure Mountain

Distance to Treasure Mountain 30 km Location northeast of Hope, British Columbia

Sample 2100151 grades 813 g/t Ag, 0.52 g/t Au, 19% Zn, 4.66% Cu 2019/2020 surface sampling at MB Zone

Sample 2100152 grades 105 g/t Ag, 1.18% Cu 2019/2020 surface sampling at MB Zone

Sample 2100207 grades 1,300 g/t Ag, 2.59 g/t Au, 1.16% Cu, 27.4% Pb, 27.2% Zn Sample taken from exposed vein at MB Zone

New Craigmont property size More than 10,800 hectares High-grade copper property owned 100% by Nicola Mining

Treasure Mountain property size More than 2,200 hectares 30 mineral claims and a mineral lease owned 100% by Nicola Mining

Key Terms

care and maintenance, diamond drilling, vein system, semi-massive, +2 more

6 terms

care and maintenance technical

"The mine was placed on care and maintenance in 2013"

A temporary status where a facility, project, or asset is shut down but kept in a safe, operable condition through regular oversight, basic repairs, and minimal staffing so it can be restarted later. Think of it like mothballing a car in a garage: you stop using it but keep the battery charged, fluids topped, and rust prevented so it won’t deteriorate beyond repair. For investors, care and maintenance affects ongoing costs, regulatory and environmental liabilities, and how quickly operations can resume, which in turn influences future cash flow and asset value.

diamond drilling technical

"The 2026 TM Program includes diamond drilling at the MB target area"

Diamond drilling is a method that uses a rotating drill with industrial diamonds on the bit to cut and retrieve cylindrical rock samples (cores) that preserve the sequence of underground layers. For investors, these cores act like a geological “biopsy,” providing direct, verifiable information about mineral presence, grade and continuity—data that underpins resource estimates, project valuation, drilling risk and financing decisions.

vein system technical

"mineralization along a vein system exposed at several locations along strike"

semi-massive technical

"Figure 2: Semi-massive pyrite-pyrrhotite-sphalerite mineralization occurring"

Qualified Person regulatory

"reviewed and approved by Will Whitty, P.Geo., Vice President of Exploration for the Company and a Qualified Person"

A qualified person is someone with specialized knowledge, experience, and training in a particular field, allowing them to accurately assess and verify information or work. Their expertise helps ensure that reports, evaluations, or decisions are trustworthy and meet required standards. For investors, a qualified person provides confidence that the information they rely on is credible and properly validated.

National Instrument 43-101 regulatory

"a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects"

National Instrument 43-101 is a set of rules and guidelines that govern how mineral exploration and mining companies must report information about their projects. It ensures that the details shared with investors are accurate, consistent, and reliable—similar to how a detailed, verified blueprint ensures a building’s safety. This helps investors make informed decisions based on trustworthy information about a company's mineral resources.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did NICM announce about its 2026 exploration program at Treasure Mountain?

Nicola Mining announced it has commenced the 2026 TM Program, a diamond drilling campaign of four holes totaling about 800 m at the MB Zone of the Treasure Mountain silver property in British Columbia.

Where is Nicola Mining's Treasure Mountain project located?

Treasure Mountain is a permitted silver mine located approximately 30 km northeast of Hope, British Columbia, and roughly a three-hour drive from Vancouver.

What historical sample grades did NICM report from the MB Zone?

Reported samples include: Sample 2100151 with 813 g/t Ag, 0.52 g/t Au, 19% Zn, 4.66% Cu; and Sample 2100207 with 1,300 g/t Ag, 2.59 g/t Au, 1.16% Cu, 27.4% Pb, 27.2% Zn from an exposed vein.

When does Nicola Mining expect drill results from the 2026 TM Program?

Drilling for the 2026 season is expected to be completed by the end of September, with assay results expected to be released by year-end after receipt, verification and review.

What other key assets does NICM hold besides Treasure Mountain?

Nicola Mining owns a 100% interest in a permitted mill and tailings facility near Merritt, BC; the New Craigmont Project, a high-grade copper property covering more than 10,800 hectares; and 100% of the Treasure Mountain Property with over 2,200 hectares of claims and a mineral lease.

How is Nicola Mining handling technical oversight of the Treasure Mountain drilling?

The scientific and technical disclosures were reviewed and approved by Will Whitty, P.Geo., Vice President of Exploration and a Qualified Person under National Instrument 43-101.

What did NICM’s CEO say about the MB Zone drill program?

CEO Peter Espig stated that starting drilling at the MB Zone marks a shift from asset preservation to value-oriented exploration, and that interpretations will remain assay driven, with positive results potentially guiding the next exploration phase at Treasure Mountain.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/18/2026 - 09:02 AM Accepted by SEC EDGAR 09/18/2026 - 09:01 AM Learn about SEC filing dates

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of September 2026

Commission File Number: 001-43228

Nicola Mining Inc.
(Translation of registrant's name into English)

Suite 1212 – 1030 West Georgia Street, Vancouver,
British Columbia V6E 2Y3, Canada
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☐      Form 40-F ☒

SUBMITTED HEREWITH

Exhibits

Exhibit		Description
99.1		News Release dated September 18, 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Nicola Mining Inc.
	(Registrant)
Date: September 18, 2026	By:	/s/ Sam Wong
		Sam Wong
	Title:	Chief Financial Officer

NASDAQ: NICM

TSX.V: NIM

FSE: HLIA

NICOLA MINING COMMENCES FIRST-EVER DRILL PROGRAM AT TREASURE MOUNTAIN'S MB ZONE AND REPORTS INTENSE MINERALIZATION

VANCOUVER, B.C., September 18, 2026 - Nicola Mining Inc. (NASDAQ: NICM) (TSX.V: NIM) (FSE: HLIA) (the "Company" or "Nicola") is pleased to announce that it has commenced its 2026 exploration drilling program (the "2026 TM Program") at Treasure Mountain. Treasure Mountain is a permitted silver mine located approximately 30 km northeast of Hope, British Columbia, and roughly a three-hour drive from Vancouver. The mine was placed on care and maintenance in 2013 during a period of depressed silver prices. Notwithstanding the suspension of mining operations, Treasure Mountain has remained a core asset within Nicola's portfolio, with the Company maintaining the project in anticipation of a more constructive silver-price environment and an appropriate opportunity to advance systematic exploration.

The 2026 TM Program includes diamond drilling at the MB target area, a previously undrilled zone approximately 1 km northwest of the historical Treasure Mountain silver mine (Figure 1). The Company considers the MB target area a compelling exploration target for high-grade silver-lead-zinc mineralization similar to that encountered at the historical mine, with the additional presence of copper and gold. From 2019 to 2022, Nicola carried out soil and surface rock sampling that returned encouraging results indicating silver-lead-zinc-copper-gold mineralization along a vein system exposed at several locations along strike.

Figure 1: Location Map of the Planned Drill Holes and Geological Setting

Encouraging results from the 2019/2020 sampling programs include:

• Sample 2100151: 813 g/t Ag, 0.52 g/t Au, 19% Zn and 4.66% Cu;
• Sample 2100152: 105 g/t Ag and 1.18% Cu; and
• Sample 2100207 (taken from the exposed vein): 1,300 g/t Ag, 2.59 g/t Au, 1.16% Cu, 27.4% Pb and 27.2% Zn.

Drilling for the 2026 season is expected to be completed by the end of September, with assay results expected to be released by year-end.

The 2026 TM Program comprises four drill holes totaling approximately 800 m and targeting the MB Zone, an area characterized by mineralized veins at surface that has not previously been drill-tested at depth. The Company is working with Western Exploration Diamond Drilling Ltd. to execute the 2026 TM Program. The holes are designed to intersect and test previously sampled quartz-sulphide veins trending northeast-southwest along the length of the valley.

Core from the first hole is being sampled and submitted to AGAT Laboratories for multi-element analysis. Visual examination of the core has identified intervals exhibiting intense mineralization, examples of which are shown in Figure 2. While these observations are geologically encouraging, visual estimates are not a substitute for analytical results. The Company will report assay results following receipt, verification and review in accordance with its disclosure procedures.

TM26-001 Core Photos

Figure 2: Semi-massive pyrite-pyrrhotite-sphalerite mineralization occurring as irregular blebs, patches and sulphide-rich aggregates throughout the host rock. Pyrrhotite and pyrite are predominant, with subordinate sphalerite occurring as coarse, silvery-grey blebs and aggregates.

CEO COMMENT

Peter Espig, Chief Executive Officer of Nicola Mining, commented: "Treasure Mountain has remained a vital component of Nicola's asset portfolio throughout a prolonged period in which silver-market conditions did not justify aggressive capital deployment. Commencing drilling at the MB Zone marks a deliberate transition from asset preservation to value-oriented exploration. We are particularly encouraged by the intensity of mineralization observed in the first drill core; however, our interpretation will remain disciplined, and assay driven. The 2026 TM Program was designed to test whether mineralized surface veins demonstrate continuity and scale at depth. Positive analytical results would materially enhance our geological understanding of the MB Zone and help define the next phase of exploration at Treasure Mountain."

Qualified Person

The scientific and technical disclosures contained in this news release have been reviewed and approved by Will Whitty, P.Geo., Vice President of Exploration for the Company and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Nicola Mining

Nicola Mining Inc. is a junior mining company listed on the Nasdaq Stock Market, the TSX Venture Exchange and the Frankfurt Stock Exchange. The Company owns a 100% interest in a permitted mill and tailings facility located near Merritt, British Columbia, and has entered into Mining and Milling Profit Share Agreements with high-grade gold projects. Nicola's fully permitted mill can process both gold and silver mill feed using gravity and flotation processes.

The Company owns 100% of the New Craigmont Project, a high-grade copper property covering more than 10,800 hectares along the southern end of the Guichon Batholith and adjacent to Highland Valley Copper, Canada's largest copper mine. The Company also owns 100% of the Treasure Mountain Property, which comprises 30 mineral claims and a mineral lease spanning more than 2,200 hectares.

On behalf of the Board of Directors

"Peter Espig"

Peter Espig

CEO & Director

For additional information, contact: Bill Cawker

Phone: (604) 649-0080

Email: info@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.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EXHIBIT 99.1 10.9 KB