Nicola Mining Inc. said Lower Nicola Site Services Ltd. exercised its option to extend their Rock and Gravel Extraction and Preferential Engagement Agreement, which now remains in effect until March 3, 2033. Under the agreement, LNSS has exclusive rights to extract rock and gravel at Nicola’s Craigmont Mine Site; Nicola receives a per-tonne royalty, and LNSS has preferential engagement for its services where competitive.
Nicola completed its first-ever diamond drill program at the MB Zone of the Treasure Mountain Silver Project. The four-hole program totaled approximately 800 metres and was designed to test a quartz-sulphide vein system at depth. Geological logging, core sampling and laboratory preparation are underway. Visual examination found intervals of intense sulphide mineralization, but Nicola cautioned that these observations are preliminary and are not a substitute for assay results. The company said it will announce assays from its 2026 New Craigmont and Treasure Mountain programs when received and expects to provide a Treasure Mountain program summary in the near future.
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.
Nicola Mining Inc. (NICM) reports results of an independent underground inspection of its 100%-owned Treasure Mountain Silver Mine in British Columbia, supporting its intention to pursue a phased restart in 2027. Engineering firm McElhanney Ltd. found both main portals accessible, substantial underground development open, natural ventilation functioning, and historic infrastructure largely intact, with no conditions identified that would prevent advancing to the next evaluation stage.
The findings highlight existing underground drill stations, partially developed headings, and a significant volume of muck material near the Level 1 portal that will be sampled and assayed as a potential near-term processing feed. Nicola plans further geotechnical and rehabilitation assessment, surveying and mapping, and reconciliation with historical mine plans to prioritize exploration and potential mining areas as part of a disciplined, capital-efficient restart strategy.
Nicola Mining Inc. (NICM) reports initial assay results from two mill feed stockpiles sourced from Red Eye Resources Ltd. under a profit share agreement. A total of 47.82 kilograms of material was sampled, representing an estimated 1,200-tonne large stockpile and 300-tonne small stockpile.
The combined samples indicate a reported weighted average grade of 2.83 grams gold (Au) and 753.41 grams silver (Ag), based on assays from Paragon Geochemical, an ISO 17025:2017 accredited laboratory. Nicola plans to proceed with laboratory simulations to optimize metal recovery at its fully permitted Merritt mill. The company cautions that grades are based on limited, surface-only sampling with high variability and may not represent the full volume of the stockpiles, especially as additional material has been added to the larger pile.
Nicola Mining Inc. (NICM) announced it has entered into a Mining and Milling Profit Share Agreement with privately held Red Eye Resources Ltd. Under this agreement, Red Eye Resources may transport qualifying precious-metal mineralized material to Nicola’s Merritt Mill in British Columbia for processing, with profits shared equally between the two parties.
Nicola highlights that Merritt Mill is the only facility in British Columbia permitted to accept third-party gold and silver mill feed from across the province, supporting its strategy of using the mill as a centralized processing platform for high-grade projects. The company also notes its 100% ownership of the Merritt mill and tailings facility, the New Craigmont copper project of over 10,800 hectares, and the Treasure Mountain property exceeding 2,200 hectares.
Nicola Mining Inc. reported sharply higher activity for the six months ended June 30, 2026, with milling revenue rising to $2,594,863 from $79,240 a year earlier, and other income of $193,775. Despite this, the company recorded a net loss of $4,004,563 versus net income of $705,478 in 2025, mainly due to lower fair value gains on marketable securities, higher share-based compensation and costs related to its Nasdaq listing.
Total assets increased to $22,732,778 and cash and cash equivalents to $10,200,848, supported by a January private placement and a U.S. underwritten ADS offering that together raised over $14 million in share capital. Working capital improved to $12,036,420, and shareholders’ equity turned positive at $6,779,842 from a deficit. However, Nicola discloses a material uncertainty about its ability to continue as a going concern, citing accumulated deficit of $118,488,900, dependence on external financing, commodity prices and successful operations at the Merritt Mill, Dominion Creek and New Craigmont projects. Asset retirement obligations remain significant at $14,066,692.
Nicola Mining Inc. reported that it and Ocean Partners UK Limited have committed to a combined $10.0 million financing for Blue Lagoon Resources to support development of the 100%-owned Dome Mountain gold and silver project in British Columbia. The financing is structured in two equal tranches, with Nicola investing $5.0 million and Ocean Partners investing $5.0 million.
Nicola’s contribution was made via a private placement at $0.60 per share, resulting in the acquisition of 8,333,333 common shares of Blue Lagoon. This follows Nicola’s earlier $1.0 million strategic investment at $0.14 per share completed on January 17, 2024. Ocean Partners has now committed a total of $8.0 million to Blue Lagoon, including a previously announced $3.0 million investment.
The funding is expected to advance mine development aimed at increasing production toward a targeted 150–200 tonnes per day. Nicola highlights that, as Blue Lagoon’s production advances, its wholly owned, fully permitted Merritt Mill in British Columbia is expected to play an increasingly important role in processing regional gold and silver material, reinforcing Nicola’s integrated model of financing, processing, and concentrate marketing.
Nicola Mining Inc. reports progress on its 2026 exploration program at the wholly owned New Craigmont Copper Project in British Columbia. The inaugural drill hole at the new Jotun target, JT-26-001, was completed to 840 metres and intersected hornblende diorite with propylitic, sericitic and potassic alteration, fault zones and visible native copper with bornite-rich mineralization, confirming Jotun as a compelling porphyry copper target.
The work forms part of the most comprehensive porphyry-focused program the company has conducted at New Craigmont, integrating diamond drilling, an airborne Mobile MT geophysical survey totaling approximately 1,436 line-kms, and a Mobile Metal Ion soil sampling campaign over the Draken target of about 8.75 square kilometres and roughly 1,000 soil samples. Results will be combined with prior drilling and new geochemical datasets to refine targets for an aggressive exploration program planned for 2027, while a separate drill program is being prepared at the Treasure Mountain silver project.
Nicola Mining Inc. is in the final stages of preparation to commence gold and silver extraction at its Dominion Gold Project in British Columbia, with mill feed extraction expected to begin in the first week of July. Material from Dominion will be processed at Nicola’s wholly owned Merritt Mill, described as the only fully permitted facility in British Columbia authorized to process gold and silver material sourced from across the province.
To support startup, Nicola advanced key infrastructure and equipment initiatives, including an additional $251,000 payment toward reclamation bonding under Mines Act Permit MX-1000004881, completion of the final payment for a fully furnished 14-person operational camp, acquisition of three CATERPILLAR 336-07 excavators, a Traxxon TR-EX2000 rock drill attachment, a John Deere 310E haul truck, and hiring operational crews and a key mining contractor. The project has returned grades of up to 113 grams of gold per tonne (3.31 ounces per tonne), with vein systems remaining open in all directions. CEO Peter Espig highlighted Dominion’s near-term production potential and its role as a premium-grade mill feed source for Merritt Mill, alongside ongoing production milestones at Blue Lagoon Resources Inc., which he stated position Nicola for a transformative period of operational growth and increasing cash flow generation. The Dominion Creek Property consists of 9 mineral claims totaling approximately 1,058 hectares, with historic work including 53 shallow diamond drill holes totaling 3,483.86 meters, and its technical information has been reviewed and approved by Qualified Person Will Whitty, P.Geo., Vice President of Exploration.
Nicola Mining Inc. has called an annual general and special meeting for August 5, 2026 in Vancouver. Shareholders of record at the close of business on June 30, 2026 are entitled to one vote per common share on matters before the meeting, including fixing the board at five directors, electing the listed nominees, and appointing Davidson & Company LLP as auditor, replacing Crowe MacKay LLP.
The circular presents audited financial statements for the year ended December 31, 2025, details executive pay, including $360,000 in 2025 compensation for CEO Peter Espig and $155,462 for CFO Sam Wong, and seeks re‑approval of the 2022 Equity Incentive Plan. That plan permits option grants up to 10% of the 229,525,709 shares outstanding and performance-based awards up to 14,587,604 shares. Concept Capital Management holds 43,408,898 shares, or 18.91% of outstanding shares.