By Lynnel Reinson Communications — originally published in The Prospector News, March/April 2026 (pp. 56-57).

Nicola Mining (TSX-V: NIM) continues to operate and explore with ever-improving cashflow. A Canadian junior mining company based in British Columbia, Nicola Mining is one of the more uniquely-structured junior resource companies, with operating cashflow generated by other projects put to work for their exploration projects.

Aerial view of the Merritt Mill and Tailings Facility — *Merritt Mill & Tailings Facility.*

The Company’s broad portfolio includes: its Gold-Silver Processing Mill near Merritt, B.C. (the only mill in the province permitted to process third party materials); its Gravel Pit, Rock Quarry, and Ready-Mix Cement Plant Operations (also located on their mill property) that are run in partnership with Lower Nicola Site Services (LNSS.ca), a First Nations company formed by the Lower Nicola Indian Band Development Corporation with Infracon Construction of Kamloops — arguably the largest civil construction company in the interior of the province; and most importantly Nicola’s three mineral properties, the wholly-owned Treasure Mountain Silver Mine Project, its New Craigmont Copper Project, along with their 75% stake in the Dominion Creek Gold Project. With a diverse asset portfolio, Nicola Mining is well-positioned to play a significant part helping grow British Columbia’s Mining Sector, by converting gold, silver, and copper exploration into producing gold, silver, and copper mine assets.

The Merritt Mill is a state-of-the-art facility set to generate significant operating cashflow in 2026-2027 by processing high-grade gold and silver from both third party and in-house projects. These include the anticipated processing of bulk samples in 2026-2027, material from Blue Lagoon’s Dome Mountain Gold Mine, as well as deliveries from the Dominion Creek Gold Project starting this July, and the highly-anticipated re-opening of their Treasure Mountain Silver Mine between Merritt and Hope BC — which has been on care and maintenance since 2013.

Nicola will use anticipated revenues from all of these to fuel revenue growth. Already debt-free, Nicola is further strengthening its financial flexibility via its late Q3, 2025 expansion of onsite Pit, Quarry, Cement Plant Operations, on its nearly 1,000-acre, 100% owned New Craigmont Mill Site. CEO Peter Espig stated September 29, 2025:

Though Nicola continues to solidify itself as a regional milling partner and operator of the Dominion Gold Project… we highlight an emphasis on operational revenues as the fuel of expansion. While we recognize that the rock quarry, gravel pit, and cement ready-mix plant are not our long-term core revenue generators; they all help contribute to a solid bottom line. In addition, these operations are a catalyst to work closely with First Nations, local communities, and numerous infrastructure projects.

This multi-stream and diversified operational structure will be immensely beneficial going forward, as exploration work continues at Treasure Mountain and New Craigmont, while beginning to realize the investment at Dominion Creek as it enters development (Release).

The revenue generated by Nicola’s Merritt milling facility comes through partnerships with various mining companies operating in BC such as Blue Lagoon Resources and Osisko Development, as well as a now-concluded deal with Talisker Resources, and ultimately, from Nicola’s own projects as they transition into bulk sampling and production. The concluded deal with Talisker successfully delivered and processed 1,569 ounces of gold in September 2025. In the announcement of the sale of that gold, CEO Peter Espig commented “The culmination of our continuous multiple mill facility upgrades is the solidification of Nicola being a producer that is poised to benefit from gold and silver prices” (Release). He continues, outlining the positive outlook for Nicola and other mining companies in the region: “The permitting and production of our partners highlights BC’s Ministry of Mining and Critical Minerals active support of smaller projects, for which we believe Nicola will become a hub.” A boon for the region, this hub mindset envisioned by Nicola Mining lowers capital expenditure costs and shortens production ramp-up timelines for Nicola’s partners, simultaneously generating revenue for Nicola to develop at Dominion Creek and perform exploration work at New Craigmont and Treasure Mountain.

Current priorities for Nicola include both the exploration program to the west-northwest of the Treasure Mountain Silver Mine, and reopening that mine, along with scaling up production at Dominion Creek, while optimizing processing and feed production coming from Blue Lagoon and Dominion Creek. On the announcement of production at Dominion Creek, CEO Peter Espig reflected upon the work done and the potential of Nicola Mining and their partners:

We are very excited to commence production at our Dominion project, which highlights the strength of our mill’s permitting and location as a destination for small-project BC gold production. Putting Dominion’s bulk sample into a position of extraction is the culmination of years of effort with accolades going out to our employees and partner, High Range Exploration. We feel that BC is undergoing a renaissance as small high grade projects are receiving the support of First Nations, communities and ministries (Release).

Nicola Mining project portfolio map — unique combination of cash flow and discovery potential — *Project Portfolio — Unique Combination of Cash Flow and Discovery Potential.*

Project Portfolio — Unique Combination of Cash Flow and Discovery Potential

Merritt Mill & Tailings Facility (100%): Only facility permitted to process third-party gold and silver mill feed in BC; modern and recently upgraded 200 tpd facility with over $35M invested to date; longstanding milling & profit share agreements in place with mines ramping to full production.
Sand/Gravel Pit & Rock Quarry Operations: Operating gravel pit; operating rock quarry (permitted for 1,500 thousand tonnes); operating ready-mix cement plant; businesses running in partnership with First Nations.
New Craigmont Project (100%): Adjacent Craigmont Copper Mine produced 860K lbs (3.84t @ 1.28% Cu); adjacent to Highland Valley Copper Mine, the largest copper mine in Canada.
Treasure Mountain Project (100%): Underground high-grade Ag-Pb-Zn mine; mine permit (M-239) allows up to 180,000 tonnes/year; in June 2025, received five-year exploration permit.
Dominion Creek Project (75%): High-grade Au-Ag epithermal veins; 27 grab samples in 2020 averaged 80.3 g/t Au, with 19 of 27 (70%) over 2,000 g/t Au averaging 224.5 g/t; permitted 10,000-tonne bulk sample program commenced in July 2025.

Nicola’s commitment to engaging with partners, maintaining and building revenue from novel sources, and working sustainably with a focus on the environment and First Nations, is culminating in the company’s current success coinciding with incredibly strong precious metals markets.

It is important to note that a significant aspect of Nicola’s plans is the completion of exploration at Treasure Mountain that was underway by Coeur Mining (NYSE: CDE) in 2012-2013 before silver’s price collapsed.

This project has generated significant interest from the market leading the Company to seek an uplist onto NASDAQ ahead of Q2, 2026. In the 2025 Year End Letter to Shareholders, CEO Peter Espig succinctly outlines their expectations for the following year:

We anticipate meaningful benefit from a full year of milling operations, including consistent millfeed from Blue Lagoon and Dominion, as well as additional sources currently under discussion. These revenues will be complemented by contributions from our First Nations partnership and the potential restart of Treasure Mountain, which could serve as an additional catalyst for growth… On the exploration front, Nicola will continue advancing toward confirmation of a porphyry copper system at New Craigmont, while also initiating drilling on the backside of Treasure Mountain through an initial three or four-hole program designed to test outcropping mineralized veins at depth. As we extract the bulk sample at Dominion, we are optimistic that the project will continue to grow.

Nicola Mining might well be one of the most active junior mining companies in British Columbia. Nicola’s contribution, in providing an option to other juniors to mill their product, generates operating cash for those juniors and accelerates business growth in BC. With multiple sources of revenue, industry partnerships, development phase assets, and promising exploration projects, Nicola Mining is proving itself capable of operating successfully across a wide range of projects, which are now all poised to flow significant benefits to shareholders, partners, and communities alike.

Read the full article in the March/April 2026 edition of The Prospector News: https://theprospectornews.com/the-march-april-2026-edition-of-the-prospector-news-is-available-for-download/#mar-apr-2026/56.

Nicola Mining Inc. — British Columbia based diverse mining company

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