Nicola Mining and Its Partner Ocean Partners Provide $10.0 Million in Financing to Blue Lagoon Resources Inc.

Nicola Mining (NASDAQ: NICM)/b) announced that it and Ocean Partners UK Limited have committed a combined in financing to Blue Lagoon Resources (CSE: BLLG).

Rhea-AI Summary

Nicola Mining (NASDAQ: NICM)/b) announced that it and Ocean Partners UK Limited have committed a combined in financing to Blue Lagoon Resources (CSE: BLLG). Each party is investing $5.0 million to support development and production ramp-up at Blue Lagoon's 100%-owned Dome Mountain Gold and Silver Project near Smithers, British Columbia.

Nicola's portion was completed via a private placement at $0.60 per share, giving it 8,333,333 common shares and building on a prior $1.0 million investment at $0.14 per share in January 2024. Ocean Partners has now committed a total of $8.0 million to Blue Lagoon, including a previously announced $3.0 million. According to Nicola, the financing is intended to advance mine development toward a targeted 150–200 tonnes per day and deepen integration between Blue Lagoon's production, Ocean Partners' concentrate marketing, and Nicola's fully permitted Merritt Mill processing facility in British Columbia.

Positive

• $10.0M total financing committed to Blue Lagoon by Nicola and Ocean Partners
• Nicola invests $5.0M via private placement at $0.60 per share
• Nicola acquires 8,333,333 Blue Lagoon common shares in latest placement
• Nicola’s total disclosed investments in Blue Lagoon now reach $6.0M
• Ocean Partners’ cumulative commitment to Blue Lagoon increases to $8.0M
• Financing supports ramp-up toward 150–200 tonnes/day at Dome Mountain project

Negative

• None.

Argus Aug 10 session

-0.48% close to close Open Argus

Details

News Market Reaction – NICM

On Aug 10, the day this news came out, NICM closed 0.48% below the previous close.

Data tracked by StockTitan Argus for the Aug 10 session.

Key Figures

Combined financing: $10.0 million Nicola investment: $5.0 million Ocean Partners investment: $5.0 million +5 more

Combined financing

$10.0 million

Nicola Mining and Ocean Partners investment in Blue Lagoon

Nicola investment

$5.0 million

Equal financing tranche

Ocean Partners investment

$5.0 million

Equal financing tranche

Targeted production

150-200 tonnes per day

Blue Lagoon Dome Mountain production ramp-up

Private placement price

$0.60 per share

Nicola's investment in Blue Lagoon

Shares acquired

8,333,333 common shares

Nicola private placement investment

Earlier investment

$1.0 million at $0.14 per share

Completed January 17, 2024

Ocean Partners cumulative commitment

$8.0 million

Combined with previously announced investment

Historical Context

4 past events · Latest: Jun 26

4 events

1. Jun 26

   Exploration update

   24h Move

   -1.3%

   Porphyry-style alteration and visible copper were reported at the Jotun target.

2. Jun 01

   Production update

   24h Move

   +2.4%

   Planned Dominion production and Merritt Mill processing preparations were announced.

3. Apr 28

   Exploration drilling

   24h Move

   +7.8%

   Diamond drilling began at Jotun within a $1.5M exploration program.

4. Apr 27

   Market-making engagement

   24h Move

   +7.8%

   Automated market-making engagement began with a four-month initial term.

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

Key Terms

private placement, qualified person, ni 43-101, flotation

4 terms

private placement financial

"Nicola's investment was completed through a private placement at $0.60 per share"

A private placement is a sale of securities directly to a selected group of investors, typically institutions or accredited investors, instead of through a public offering. It lets a company raise money faster and with fewer regulatory steps; for existing shareholders it matters because the newly issued shares, often sold at a discount, increase the share count and can dilute their ownership.

qualified person regulatory

"who is the Qualified Person as defined by NI 43-101"

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

"the 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 technical

"process both gold and silver mill feed via gravity and flotation processes"

Flotation is the process where a privately held business makes its shares available to the public by listing them on a stock exchange, commonly called an initial public offering (IPO). For investors it matters because flotation creates a market price and trading chance for those shares, signals a company's growth plans and need for capital, and changes how the business is governed — like a small shop selling ownership stakes to many new customers to raise money and spread risk.

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

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Vancouver, British Columbia--(Newsfile Corp. - August 10, 2026) - Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) (the "Company" or "Nicola") is pleased to announce that it, and Ocean Partners UK Limited¹ ("Ocean Partners") have committed to a combined $10.0 million in financing to Blue Lagoon Resources (CSE: BLLG) ("Blue Lagoon").

The financing consists of two equal tranches, with Nicola investing $5.0 million and Ocean Partners investing $5.0 million, to support the continued development and production ramp-up of Blue Lagoon's 100%-owned Dome Mountain Gold and Silver Project, located near Smithers, British Columbia². The financing is expected to advance mine development activities necessary to increase production toward the targeted 150-200 tonnes per day.

Nicola's investment was completed through a private placement at $0.60 per share, resulting in the acquisition of 8,333,333 common shares. This investment builds upon Nicola's earlier strategic investment of $1.0 million at $0.14 per share completed on January 17, 2024³ underscoring the Company's long-term conviction in Blue Lagoon's management team and the Dome Mountain project.

Ocean Partners' participation further reinforces the strategic alignment among the parties. Combined with its previously announced $3.0 million investment⁴, Ocean Partners has now committed $8.0 million to Blue Lagoon. Collectively, Nicola and Ocean Partners have established a significant strategic equity position while providing capital intended to accelerate production growth.

Beyond the equity investment, the financing further strengthens the integrated relationship between mine development, concentrate marketing, and milling infrastructure. As Blue Lagoon advances production, Nicola's wholly owned Merritt Mill-British Columbia's only fully permitted milling facility authorized to process gold and silver material sourced throughout the province-is expected to play an increasingly important role in supporting regional mining operations.

Mr. Peter Espig, CEO of Nicola Mining Inc., commented:

"This investment reflects our confidence in both the quality of the Dome Mountain asset and Blue Lagoon's management team's ability to execute its production strategy. Nicola's objective extends beyond providing capital-we seek to partner with companies that can benefit from our operational infrastructure, technical expertise, and long-term strategic relationships.

Together with Ocean Partners, we believe this financing positions Blue Lagoon to accelerate its transition toward sustained commercial production while strengthening an integrated mining model that combines financing, processing, and concentrate marketing. As Nicola continues to expand and upgrade the Merritt Mill, we remain committed to supporting responsible mine development throughout British Columbia and creating long-term value for all stakeholders."

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.

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 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

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 Ocean Partners operates in several countries throughout the world. Ocean Partners maintains a strong global network of relationships and contacts in the base metal mining and smelting sector.
² May 19, 2026 New Release: Link
³ Stockwatch Report: Link
⁴ May 19, 2026 New Release: Link

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308818

FAQ

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

What financing did Nicola Mining (NASDAQ: NICM) and Ocean Partners provide to Blue Lagoon Resources on August 10, 2026?

Nicola Mining and Ocean Partners committed a combined $10.0 million in financing to Blue Lagoon Resources. According to Nicola Mining, each party is investing $5.0 million to support development and production ramp-up at the Dome Mountain Gold and Silver Project in British Columbia.

How much is Nicola Mining investing in Blue Lagoon Resources and at what share price?

Nicola Mining is investing $5.0 million into Blue Lagoon through a private placement at $0.60 per share. According to Nicola Mining, this latest transaction results in the acquisition of 8,333,333 Blue Lagoon common shares and builds on a previous $1.0 million investment.

What is Ocean Partners’ total financial commitment to Blue Lagoon Resources after the August 2026 financing?

Ocean Partners’ total commitment to Blue Lagoon Resources now stands at $8.0 million. According to Nicola Mining, this includes the new $5.0 million tranche announced on August 10, 2026, plus a previously announced $3.0 million investment in Blue Lagoon.

What production target at the Dome Mountain project will the new Blue Lagoon financing support?

The financing is intended to help advance mine development toward a targeted 150–200 tonnes per day production rate. According to Nicola Mining, the capital is expected to support ramp-up activities at Blue Lagoon’s Dome Mountain Gold and Silver Project near Smithers, British Columbia.

How does the Blue Lagoon financing relate to Nicola Mining’s Merritt Mill in British Columbia?

The financing is described as strengthening integration between mine development, concentrate marketing, and milling. According to Nicola Mining, its fully permitted Merritt Mill is expected to play an increasingly important role in processing gold and silver material as Blue Lagoon advances production.

What is Nicola Mining’s total disclosed investment in Blue Lagoon Resources after the August 2026 private placement?

Nicola Mining’s total disclosed investment in Blue Lagoon reaches $6.0 million. According to Nicola Mining, this includes a new $5.0 million private placement at $0.60 per share and an earlier $1.0 million strategic investment completed on January 17, 2024.