Nicola Mining and Ocean Partners Commit $10 Million to Blue Lagoon's Dome Mountain 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 funding is aimed at supporting continued development and the 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 builds on Nicola's previous $1 million investment in Blue Lagoon completed in January 2024. Ocean Partners has now committed a total of $8 million to Blue Lagoon, reflecting growing confidence in the project's potential.

The financing is strategically significant as it strengthens the 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. The mill, located near Merritt, British Columbia, is fully permitted and can process both gold and silver feed via gravity and flotation processes.

Nicola Mining is a junior mining company listed on the TSX Venture Exchange and the Frankfurt Exchange. It maintains a 100% owned mill and tailings facility and has signed Mining and Milling Profit Share Agreements with high-grade gold projects. The company also 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. Additionally, Nicola owns the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease spanning over 2,200 hectares.

This investment underscores the collaborative approach among mining companies to advance projects and optimize resources. For Blue Lagoon, the funds will accelerate the path to production, potentially generating significant economic benefits for the region. For Nicola and Ocean Partners, the investment diversifies their portfolios and secures access to high-grade ore for their milling and marketing operations.

The announcement highlights the growing trend of strategic investments in mining projects, particularly in British Columbia, which is known for its rich mineral deposits and supportive regulatory environment. The partnership between Nicola, Ocean Partners, and Blue Lagoon exemplifies how companies can leverage synergies to bring projects to production more efficiently.

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/Wh0vf.