Nicola Mining Provides Merritt Mill Operational Update
Key Highlights
- ➤Dominion will transport and process approximately 1,300 tonnes at Merritt Mill
- ➤Red Eye processing completed; fourth-quarter revenue awaits assays, sales and recognition requirements
- ➤Nicola and Ocean Partners committed aggregate $10.0 million financing for Blue Lagoon
- ➤Additional gold- and silver-bearing Dominion veins identified, pending geological evaluation and assays
- ➤Blue Lagoon advances mine development, grade control and production ramp-up
Expert Statements
Peter Espig, CEO and Director of Nicola Mining
“2026 has been a year of substantial execution for Nicola. We have advanced multiple sources of precious-metal mill feed, completed processing of Red Eye material, moved Dominion toward trucking and milling, and supported Blue Lagoon's development and production expansion. These are tangible steps in our strategy to build a diversified, dependable processing platform around our permitted Merritt Mill. Importantly, the work undertaken throughout the year is beginning to converge in the fourth quarter, with anticipated concentrate sales and additional processing activity providing a bridge from project development to commercial results. While the timing and magnitude of revenue remain subject to assays, logistics and sales, we believe the operational progress achieved in 2026 provides a considerably stronger foundation for 2027. Our priority is to translate that foundation into sustained throughput, disciplined execution and growing value for shareholders.”
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2026) - Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) (the "Company" or "Nicola") is pleased to provide updates on processing activities at its Merritt Mill(1) and progress across its precious-metals operations:
Red Eye Resources Ltd. ("Red Eye"): The Company completed processing material sourced from Red Eye stockpiles in September and is awaiting concentrate assay results prior to sale. As announced on August 17, 2026, Nicola and Red Eye entered into a Milling Profit Share Agreement. The Company expects the associated revenue to be recognized in the fourth quarter of 2026, subject to final assays, sales and applicable revenue-recognition requirements.
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