Vancouver, British Columbia--(Newsfile Corp. - March 12, 2025) - Nicola Mining Inc. (TSXV: NIM) (FSE: HLIA) (OTCQB: HUSIF), (the "Company" or "Nicola") is pleased to announce that it has received the Final Permit ("Final Permit1") to complete a bulk sample2 at its Dominion Creek Mineral Project ("Dominion"), a high grade gold and silver project, of which Nicola owns a 75% economic interest.
The Notice of Work for the Dominion Mineral project was initially filed with the Chief Permitting Officer on Aug 29, 2018 and last updated on Feb 27, 2025. The Final Permit allows Nicola and its partner, High Range Exploration Ltd., to complete a bulk sample prior to Feb 27, 2030, after which only reclamation activities can occur. In addition to the Final Pemit, a Free Use Permit (MX-100000488) was issued to upgrade / complete a short haul road for ore transportation.
The Company announced on March 6, 2025 that it has been issued a draft permit by the British Columbia Ministry of Mining and Critical Minerals to extract 10,000 tonnes of gold and silver ore at Dominion, which is located 43 kilometers northeast of the Town of Wells and approximately 110 kilometers east-southeast of Prince George.
The two parties are currently in the process of finalizing plans to mobilize and commence ore extraction, which is anticipated to commence in July 2025.
The Company is also pleased to announce that it has closed a non-brokered private placement which was announced on February 25, 2025. The news release announced a non-brokered private placement consisting of up to 7,142,857 units (each, a "Unit") at a price of $0.28 per Unit for gross proceeds of up to $2,000,000. However, given the Company's cash and equivalent position, it was determined that the smaller and less dilutive amount was sufficient.
The Company issued 4,038,955 Units for aggregate gross proceeds of $1,130,907.40 and paid $63,827.36 in finder's fees for net proceeds of $1,067,080.00. The financing is now closed, and the Company will not be seeking additional funds associated with the current financing.
All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Qualified Person
William Whitty, P. Geo., VP of Exploration for the Company, is the Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects has reviewed and approved the technical disclosure contained in this news release.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the 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 10,913 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.
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1 Permit Number: MX-100000488 and Mine Number: 1101145
2 Bulk Sample: An exploration and development activity conducted on a mineral claim to investigate the metallurgical properties of an ore body, to test extractive milling methods, mill equipment, and potential markets.
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