Nicola Completes 2026 Mining Campaign at Dominion Gold Project and Delivers Material to Merritt for Processing

Mine development is complete and mining equipment is operational, following a deferred start to the 2026 campaign.

Rhea-AI Summary

Nicola Mining (HUSIF) completed its 2026 Dominion Gold mining campaign and shipped approximately 1,300 tonnes of mill feed to Merritt for processing. The company expects Dominion Gold and Red Eye Resources material, together with feed processed under its Blue Lagoon Resources agreement, to contribute to fourth-quarter revenue.

The campaign's planned early-July start was deferred by purchased equipment arriving in mid-July and additional development associated with newly identified mineralized veins. Mine development is now complete, and mining equipment is operational. Nicola believes these steps position Dominion Gold for increased extraction and potential gold production in 2027. Work focused on three mineralized structures, including the newly identified 16 East Vein; the identified veins remain open in multiple directions.

6 points · 0 major

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0 major · 1 point

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointDominion Gold's 2026 campaign completed, with approximately 1,300 tonnes of mill feed shipped to Merritt.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Nicola expects fourth-quarter revenue contributions from Dominion Gold, Red Eye Resources and Blue Lagoon agreement feed.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Mine development completed and equipment operational; Nicola sees increased extraction and potential gold production in 2027.
• Minor point. Forward-looking: it has not happened yet and may not happen.The Traxxon drilling unit improved extraction efficiency; Nicola expects enhanced mining productivity during the 2027 campaign.
• Minor point. Forward-looking: it has not happened yet and may not happen.The newly identified 16 East Vein and veins remaining open support further geological evaluation opportunities.
• Minor point. Forward-looking: it has not happened yet and may not happen.Nicola intends to evaluate additional acquisitions with a pathway to potential monetization within approximately three years.

Negative

• Minor pointThe planned early-July start was deferred by mid-July equipment arrival and additional mine development.

News Explained

A footnote sets Nicola’s economic interest at Dominion at 75% for the first 10,000 tonnes, then 100% thereafter, so the company’s share of the project’s economics depends on how much tonnage falls within that initial threshold.

Key Figures

Dominion mill feed shipped: approximately 1,300 tonnes Dominion economic interest: 75% for the first 10,000 tonnes; 100% thereafter

Dominion mill feed shipped

approximately 1,300 tonnes

2026 mining campaign; shipped to Merritt for processing

Dominion economic interest

75% for the first 10,000 tonnes; 100% thereafter

Economic interest terms stated in the release footnote

Historical Context

1 past event · Latest: Oct 23

1 event

1. Oct 23

   Merritt mill update

   24h Move

   -2.9%

   Earlier update disclosed transport and processing arrangements; this release confirms shipment to Merritt.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

mill feed, qualified person, ni 43-101, flotation circuits

4 terms

mill feed technical

"1,300 tonnes of high-grade mill feed to Merritt"

Material (ore, rock, pulp, or raw biomass) delivered to an industrial mill or processing plant to be crushed, ground and treated to extract valuable components or produce a finished product. In mining and minerals, mill feed is the mined ore that enters the mill and is described by its tonnage and grade (concentration of the target metal); in pulp, paper or biofuel contexts it is the wood chips or biomass sent to the mill. Mill feed is measured before the mill’s separation or recovery processes, and its quantity and composition determine the potential output and how the mill will be operated.

qualified person regulatory

"reviewed and approved by Will Whitty, P.Geo., who is the 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.

ni 43-101 regulatory

"Qualified Person as defined by NI 43-101."

A Canadian regulatory standard that sets the rules for how mining and exploration companies must report mineral resources and reserves, requiring technical reports prepared or signed off by an independent, certified expert. It matters to investors because it creates a consistent, transparent “inspection report” for mining projects, making it easier to compare prospects, judge the reliability of claims, and assess geological and financial risk before investing.

flotation circuits technical

"using gravity and flotation circuits."

A flotation circuit is the sequence of tanks, pumps, reagents and control equipment in a mineral-processing plant that separates valuable mineral particles from waste rock using froth flotation. Ore ground to fine particles is mixed with water and chemicals that make desired minerals attach to air bubbles; those bubbles rise to form a froth that is skimmed off as a concentrated product while the remaining slurry is discarded or reprocessed. Flotation circuits are described by their arrangement (roughers, scavengers, cleaners), capacity and recovery rates, and their performance depends on ore characteristics, reagent mix and equipment tuning rather than on a single component.

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Vancouver, British Columbia--(Newsfile Corp. - November 2, 2026) - Nicola Mining Inc. (TSXV: NIM) (FSE: HLIA) (OTCQB: HUSIF) (the "Company" or "Nicola") is pleased to announce the completion of its 2026 mining campaign at the Dominion Creek Gold Project ("Dominion Gold"), including the shipment of approximately 1,300 tonnes of high-grade mill feed to Merritt, British Columbia, for processing.

The Company expects material sourced from Dominion Gold and Red Eye Resources¹, together with mill feed processed under its agreement with Blue Lagoon Resources ("Blue Lagoon"), to contribute to fourth-quarter revenue. The 2026 mining campaign was initially scheduled to commence in early July; however, the start was modestly deferred by the mid-July arrival of purchased equipment and additional mine development associated with the identification of previously unrecognized mineralized veins. With mine development now completed and key mining equipment mobilized and operational, Nicola believes Dominion Gold is positioned to support increased material extraction and potential gold production in 2027. These developments provide a foundation for improved operational continuity and greater utilization of the Company's Merritt processing infrastructure. Video Link

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4873/321941_5117b7f1f41f9923_001full.jpg

Mining activities in 2026 focused on three mineralized structures: the approximately five-metre-diameter Pit Vein, the approximately 1.5-metre-diameter 16 Vein, and the newly identified 16 East Vein.²

The late-July deployment of the Traxxon drilling unit mounted on a CAT 336 excavator (pictured at left) materially improved the efficiency of extraction activities. The equipment is expected to enhance mining productivity during the 2027 campaign.

The identified veins remain open in multiple directions, while the discovery of additional mineralized structures during the 2026 program highlights opportunities for further geological evaluation and potential expansion of future mining activities.

Left: Aerial view of the Dominion Gold mining area and access road during the 2026 campaign
Right: Excavators working at Dominion Gold

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4873/321941_f394b6e6e4eeeabc_001full.jpg

Nicola Mining CEO Peter Espig commented: "The completion of our 2026 Dominion Gold campaign represents an important milestone in our strategy to translate targeted mineral asset investments into tangible operating activity within a disciplined timeframe. In approximately three years, we have advanced Dominion Gold from acquisition through mine development and bulk-sample extraction, demonstrating the potential value of integrating selective mining opportunities with our wholly owned Merritt processing facility.³ Looking ahead, we intend to evaluate additional acquisition opportunities with a clear pathway to potential monetization within approximately three years, while continuing to advance our exploration portfolio. This combination of near-term operating opportunities, established processing infrastructure and longer-term exploration potential provides investors with differentiated exposure to both execution-driven growth and mineral discovery."

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 comprises nine mineral claims (55 units) covering approximately 1,058 hectares. Noranda Exploration Company Ltd. acquired the property from prospector N. Kencayd in 1986 and subsequently undertook geological, geochemical and geophysical investigations that supported an expansion of its land position. Between 1987 and 1990, the exploration program included an initial geochemical silt survey comprising 20 samples, followed by a more extensive soil geochemical survey comprising 3,399 samples. Noranda also completed 53 shallow diamond drill holes totalling 3,483.86 metres, with an average hole depth of approximately 65.7 metres. Trenching of coincident lead, zinc, copper, silver and gold soil-geochemical anomalies led to the identification of several mineralized quartz veins.

A Technical Report⁴ on the Dominion Creek Project was completed by Geospectrum Engineering on August 22, 2003.

About Nicola Mining

Nicola Mining Inc. is a mining and mineral exploration company listed on the TSX Venture Exchange and Frankfurt Stock Exchange. The Company owns a fully permitted mill and tailings facility near Merritt, British Columbia, capable of processing gold- and silver-bearing mill feed using gravity and flotation circuits. Through its mining and milling profit-sharing agreements with high-grade gold projects, Nicola seeks to leverage this infrastructure to generate operating opportunities while advancing its broader mineral asset portfolio.

Nicola owns 100% of the New Craigmont Project, a copper exploration property encompassing more than 10,800 hectares along the southern margin of the Guichon Batholith, adjacent to Highland Valley Copper, Canada's largest copper mine. The Company also holds a 100% interest in the Treasure Mountain Property, comprising 30 mineral claims and a mineral lease over more than 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

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.

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¹ Red Eye Resources news release: Privately held mineral exploration and project-generation company based in British Columbia. The company maintains a portfolio of precious metal prospects. News Link
² Presentation: Link
³ Nicola owns a 75% economic interest of Dominion for the first 10,000 tonnes, after which ownership moves to 100% ownership.
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/321941

FAQ

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

How much Dominion Gold material did Nicola Mining ship for processing in 2026?

Nicola shipped approximately 1,300 tonnes of mill feed from Dominion Gold to Merritt, British Columbia, for processing after completing its 2026 mining campaign.

What economic interest does Nicola Mining hold in Dominion Gold?

Nicola holds a 75% economic interest in Dominion for the first 10,000 tonnes, after which ownership moves to 100%.