Nicola increases throughput feed at Dome Mountain

Executive Summary

• Nicola Mining has materially increased throughput of high-grade gold and silver mill feed from its partnership with Blue Lagoon Resources at the Dome Mountain project.
• The company has transitioned its Merritt mill processing from a gravity and flotation circuit to a flotation-only recovery circuit to better suit sulphide-hosted mineralization, aiming to enhance metallurgical recoveries and concentrate grades.
• Concurrently, Nicola is preparing for extraction at its Dominion gold project, with plans to commence bulk sampling in July 2026, while continuing to advance its strategy for a Q1 2026 Nasdaq uplisting.

Key Details

• Production Increase: Material increase in throughput of high-grade gold and silver mill feed sourced from the Blue Lagoon Resources partnership at the Dome Mountain gold project.
• Process Optimization: Transitioned from gravity and flotation gold recovery to a flotation-only recovery circuit at the fully permitted Merritt mill.
• Technical Rationale: The change suits the sulphide-hosted nature of the mineralization, designed to enhance metallurgical recoveries, improve concentrate grades, and maximize payable metal content.
• Sales Channel: The resulting high-grade gold-silver flotation concentrate is sold to Ocean Partners U.K. Ltd.
• Operational Status: The transition was executed without operational disruption; incremental plant upgrades and circuit refinements are being implemented to further improve recoveries and throughput stability.
• Dome Mountain Development: Underground development continues with additional mining faces being prepared to sustainably increase mill feed tonnage.
• Dominion Project Preparation: Initiated procurement of key mobile equipment and personnel for planned extraction at the Dominion gold project.
• Dominion Timeline: Nicola intends to commence extraction under a bulk sample permit in July 2026.
• Dominion Objectives: Production aims to validate grade continuity, metallurgical performance, and mining selectivity while augmenting company cash flow.
• Strategic Goal: CEO Peter Espig confirmed focus on achieving a planned Q1 2026 Nasdaq uplisting.

Notable Quotes

• "Nicola continues to systematically advance its near-, mid and long-term development strategy. Our integrated milling infrastructure, coupled with high-grade feed sources in a premier mining jurisdiction, provides operating leverage to strengthening precious and base metal markets. Concurrently, we remain focused on achieving our planned Q1 2026 Nasdaq uplisting." — Peter Espig, Chief Executive Officer