Nicola Mining and Ocean Partners Commit $10 Million to Blue Lagoon Resources for Dome Mountain Gold-Silver Project

Nicola Mining Inc. (NASDAQ: NICM) (TSX.V: NIM) (FSE: HLIA) and Ocean Partners UK Limited have jointly committed $10 million in financing to Blue Lagoon Resources (CSE: BLLG), with each investing $5 million. The funds are earmarked to support the continued development and production ramp-up of Blue Lagoon's 100%-owned Dome Mountain Gold and Silver Project near Smithers, British Columbia, targeting a production rate of 150 to 200 tonnes per day. Nicola completed its investment through a private placement at $0.60 per share, acquiring 8,333,333 common shares.

This investment builds on Nicola's previous $1 million investment in Blue Lagoon completed in January 2024, while Ocean Partners has now committed a total of $8 million to the company. The financing underscores the strengthening relationship among mine development, concentrate marketing, and milling infrastructure. Nicola's wholly owned Merritt Mill is expected to play an increasingly important role as Blue Lagoon advances production, providing a strategic advantage in processing gold and silver feed.

The partnership is significant not only for the immediate capital infusion but also for the synergies it creates. Nicola Mining, a junior mining company listed on the Exchange and Frankfurt Exchange, owns a fully permitted mill and tailings facility near Merritt, British Columbia. The company has signed Mining and Milling Profit Share Agreements with high-grade gold projects, positioning it as a key player in the region's mining ecosystem. Additionally, Nicola owns 100% of the New Craigmont Project, a high-grade copper property covering 10,913 hectares along the southern end of the Guichon Batholith, adjacent to Highland Valley Copper, Canada's largest copper mine. The company also holds the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease spanning over 2,200 hectares.

For Blue Lagoon, this financing is a crucial step toward achieving its production targets. The Dome Mountain Gold and Silver Project is a high-grade underground mine with a mill on site, and the additional funds will enable the company to accelerate its development plans. The involvement of Ocean Partners, a global leader in concentrate marketing, adds further credibility and market access for the project's output.

The announcement comes at a time when gold and silver prices remain strong, making investments in precious metals projects particularly attractive. The collaboration between Nicola Mining and Ocean Partners exemplifies how strategic partnerships can de-risk projects and enhance value for all stakeholders. As Blue Lagoon progresses toward its production goals, the support from these investors is likely to have a positive impact on the local economy and the broader mining sector in British Columbia.

For more information on Nicola Mining, visit the company's newsroom at https://ibn.fm/NICM. The full press release can be viewed at https://ibn.fm/1dWlK.