Both horses are owned by Clive Smith and Nicholls tried to avoid running them on the same day by giving Master Minded his seasonal debut at Aintree last month.
However, that did not go to plan with the dual champion chaser trailing in last of the three runners.
Jacob was appointed second jockey to Nicholls in the summer, and while Noel Fehily, who has recently returned from injury, was in the frame for the mount after partnering him to success in the Amlin 1965 Chase 12 months ago, Nicholls stuck with Jacob.
"I can reveal that Ruby rides Kauto Star at Haydock on Saturday, and Daryl rides Master Minded at Ascot," Nicholls said. "Obviously, that is all dependent on the horses pleasing me and all going well in their preparation this week.
"Ruby will ride all my Haydock horses on Friday and Saturday, and Daryl will ride my Ascot runners.
Robbie Hennessy was forced to rule out a crack at the race with Rubi Light after a gallop at the Curragh yesterday revealed his stable star was not quite firing on all cylinders.
Big-race jockey Andrew Lynch was in the saddle, but he felt the six-year-old would benefit from a little extra time to recover from a viral infection and the John Durkan at Punchestown is his new aim.
"Andrew said he's just not quite there yet," said Hennessy. "He said every day he is improving, but he's just not 100pc and to go for a Grade One with all the travelling involved you have to be 110pc.
"So we're going to leave him and go to Punchestown for the John Durkan, which is in three weeks, so it gives him plenty of time."
Hurricane Fly heads a field of just six possibles for the Ladbrokes.com Morgiana Hurdle at Punchestown on Sunday.
Willie Mullins' star performer has won his last six starts, including Champion Hurdles in England and Ireland.
He bids to take his run to seven in the Grade One over two miles, with his potential rivals including stable companions So Young and Thousand Stars.
Jessica Harrington has left in Oscars Well.
Charles Byrnes, whose Solwhit has taken on Hurricane Fly several times, will try to overturn the likely red-hot favourite with Pittoni.
Unbeaten Frankel was named Horse of the Year at the 2011 Cartier Racing Awards.
Owned and bred by Saudi Arabian prince and businessman Khalid Abdulla, and handled by Henry Cecil, Frankel also won the Three-Year-Old Colt category at last night's prestigious awards.
Unbeaten in nine starts, Frankel's season has included victories in the 2,000 Guineas, the St James's Palace Stakes, the Sussex Stakes and a spectacular performance in the Queen Elizabeth II Stakes at Ascot last month.