Nicola Mining to Commence Gold Production at Dominion Gold Project
Rhea-AI Summary
Nicola Mining (NASDAQ: NICM) plans to commence gold and silver extraction at its high-grade Dominion Gold Project in early July. Material will be processed at the fully permitted Merritt Mill in British Columbia.
Preparations include a $251,000 reclamation bond payment, purchase of a 14-person camp, new mining equipment, contractor engagement, and hiring crews. Dominion has reported grades up to 113 g/t gold and covers about 1,058 hectares.
Positive
- Mill feed extraction expected to start first week of July
- $251,000 additional payment toward reclamation bonding requirements
- Purchase of fully furnished 14-person operational camp completed
- Acquisition of three CATERPILLAR 336-07 excavators and rock drill
- Securing of John Deere 310E haul truck and key mining contractor
- Dominion gold grades reported up to 113 g/t Au
Negative
- Additional $251,000 reclamation bonding payment increases upfront cash outlay
News Market Reaction – HUSIF
In the Jun 1 session, HUSIF declined 1.51%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 27 | Market making agreement | Neutral | +0.9% | Engaged ICP Securities for automated market making to support trading liquidity. |
| Apr 14 | Investor communications deal | Positive | -0.6% | Hired Global One Media to enhance digital investor outreach and visibility. |
| Apr 13 | US offering, Nasdaq listing | Negative | -6.7% | Priced US$6.0M ADS and warrant offering tied to Nasdaq Capital Market listing. |
| Mar 19 | Craigmont geology thesis | Positive | -6.1% | UBC thesis identified New Craigmont as porphyry-linked skarn, focusing exploration areas. |
| Mar 09 | NASDAQ ADR update | Positive | -3.3% | Provided update on proposed Nasdaq ADR listing under new qualitative review rule. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news often saw negative or muted reactions, especially to financing and technical updates, with multiple divergences where positive or neutral news coincided with share price declines.
Over the past few months, Nicola issued several corporate and financing updates. A US$6.0M Nasdaq offering on April 13, 2026 and related 6-K filings funded mill expansion and equipment but coincided with a -6.7% move. Communications-focused releases in mid‑April 2026 and a geological thesis update in March 2026 also saw small negative or mixed reactions. Against this backdrop, today’s move toward gold production at Dominion builds on prior capital-raising and technical derisking efforts.
Key Terms
reclamation bonding regulatory
mines act permit regulatory
qualified person regulatory
ni 43-101 regulatory
p.geo. technical
technical report technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - June 1, 2026) - Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA), (the "Company" or "Nicola") is pleased to announce that it is in the final stages of preparation to commence gold and silver extraction operations at its Dominion Gold Project ("Dominion"). The high-grade gold project is located approximately 43 kilometres northeast of the Town of Wells and 110 kilometres southeast of Prince George, British Columbia. Material extracted from Dominion will be processed at the Company's wholly owned Merritt Mill, the only fully permitted milling facility in British Columbia authorized to process gold and silver material sourced from throughout the province.
In anticipation of commencement of operations, the Company has advanced multiple key infrastructure, equipment, and operational initiatives, while also strengthening its reclamation profile through an additional
Completion of the final payment for the purchase and installation of a fully furnished 14-person operational camp, including all required site facilities[2];
Acquisition of three CATERPILLAR 336-07 excavators;
Acquisition of Traxxon TR-EX2000 High Performance Rock Drill attachment;
Securing of a John Deere 310E haul truck;
Hiring of operational crews and engagement of key mining contractor
Mill feed extraction is expected to commence first week of July.
Mr. Peter Espig, CEO of Nicola Mining Inc., commented:
"Dominion represents a highly compelling high-grade gold asset that we believe possesses both exceptional near-term production potential and significant long-term strategic value for Nicola. The project has consistently demonstrated robust mineralization, with vein systems remaining open in all directions and returning grades of up to 113 grams of gold per tonne (3.31 ounces of gold per tonne) [3]. As we transition toward extraction, we are particularly excited by the opportunity to establish Dominion as a meaningful and sustainable source of premium-grade mill feed for our Merritt Mill operations. Concurrently, we continue to work closely with Blue Lagoon Resources Inc., which continues to achieve important production milestones while maintaining strong operational discipline and grade control. We believe the convergence of these developments positions Nicola for a transformative period of operational growth and increasing cash flow generation."
Qualified Person
The scientific and technical disclosures included in this news release have been reviewed and approved by Will Whitty, P.Geo., who is the Qualified Person as defined by NI 43-101. Mr. Whitty is Vice President of Exploration for the Company.
DOMINION CREEK PROPERTY HISTORY
The Dominion Creek Property consists of 9 mineral claims (55 units) totaling approximately 1,058 hectares. The property was acquired from the prospector N. Kencayd by Noranda Exploration Company Ltd. in 1986. Noranda subsequently conducted geological, geochemical, and geophysical surveys which culminated in an increase in their land position. Between 1987 and 1990, Noranda's exploration program included a small (20 samples) geochemical silt sample survey. Encouraged by those results, a larger soil geochemical survey (3,399 samples) was conducted. Noranda drilled a total of 53 shallow diamond drill holes, totaling 3,483.86 meters (average depth of approximately 65.7 meters). Trenching of several coincident Pb, Zn, Cu, Ag and Au soil geochemistry anomalies resulted in the discovery of several mineralized quartz veins.
A Technical Report[4] on the Dominion Creek Project was completed by Geospectrum Engineering on August 22, 2003.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the NASDAQ, the TSX Venture Exchange and Frankfurt Exchange that maintains a
The Company owns
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
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.
[1] Nicola had already paid
[2] July 30, 2025, news release: Link
[3] November 10, 2025, news release: Link
[4] Makepeace, D. K., 2003. Dominion Creek Project Technical Report for XMP Mining Ltd. Geospectrum Engineering, August 22.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299561