Recent Updates — HUSIF
Nicola Mining Inc. announced an independent underground inspection of its Treasure Mountain Silver Mine, revealing that both portals remain accessible and infrastructure is in better condition than expected after 13 years of inactivity. The assessment confirms natural ventilation functions and identifies exploration opportunities within existing workings, supporting the company's intention to recommence operations in 2027. Nicola plans a phased restart strategy involving geotechnical assessments and rehabilitation of areas with high operational value potential. This development provides a differentiated pathway toward renewed silver production using its permitted Merritt milling infrastructure. Nicola Mining Inc. is a junior mining company that owns processing facilities and holds interests in gold, copper, and silver projects in British Columbia.
Nicola Mining Inc., alongside Ocean Partners UK Limited, committed a combined $10.0 million in financing to Blue Lagoon Resources to support the development and production ramp-up of its Dome Mountain Gold and Silver Project near Smithers, British Columbia. Nicola Mining invested $5.0 million through a private placement at $0.60 per share, acquiring 8,333,333 common shares. This follows an earlier strategic investment of $1.0 million in January 2024. The capital is intended to advance mine development activities targeting production levels of 150-200 tonnes per day and strengthens the relationship with Nicola Mining's Merritt Mill facility. Nicola Mining Inc. operates in the gold and silver mining industry.
Nicola Mining Inc. announced initial assay results from two mill feed stockpiles originating from Red Eye Resources Ltd., following a profit share agreement dated August 17, 2026. The company sampled 47.82 kilograms of material from piles totaling approximately 1,500 tonnes. Results indicate an overall weighted average grade of 2.83 grams per tonne gold and 753.41 grams per tonne silver. Nicola will proceed with laboratory simulations to maximize recovery before deciding whether to process the material at its Merritt Mill facility. The company operates in the mining industry, owning a fully permitted mill and tailings facility near Merritt, British Columbia, which processes gold and silver.
Nicola Mining Inc. entered into a Mining and Milling Profit Share Agreement with Red Eye Resources Ltd., allowing the latter to transport qualifying mineralized material to Nicola's Merritt Mill in British Columbia for processing. Profits generated under this arrangement will be shared equally between the two companies. This agreement leverages Nicola's unique permitting position as the only facility in the province authorized to accept third-party gold and silver mill feed, enabling collaboration with project owners without requiring significant capital investment or new permitting timelines. The company operates in the precious metals mining industry, owning a fully permitted milling facility and exploration properties including the New Craigmont copper project.