Nicola Mining Signs Profit Share Agreement with Red Eye Resources to Process Precious Metals at Merritt Mill

Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) has entered into a Mining and Milling Profit Share Agreement with Red Eye Resources Ltd., a privately held company. The agreement allows for qualifying mineralized material to be transported to Nicola's Merritt Mill near Merritt, British Columbia, for processing. The focus will be exclusively on precious-metal opportunities, with profits shared equally between the two companies.

This agreement is significant because it reinforces Nicola Mining's strategy of utilizing the Merritt Mill as a centralized processing platform for high-grade precious-metal projects across British Columbia. The company highlights that its mill is the only facility in the province permitted to accept third-party gold and silver mill feed from anywhere in British Columbia. This unique positioning provides project owners with access to established processing infrastructure without the capital requirements and permitting timelines associated with building standalone facilities.

The collaboration combines Red Eye Resources' project-generation and mining expertise with Nicola's permitted milling infrastructure and existing projects. By leveraging each other's strengths, the partnership aims to streamline the path from discovery to production for precious-metal projects in the region.

Nicola Mining's Merritt Mill is fully permitted and can process both gold and silver mill feed via gravity and flotation processes. The company also holds a 100% interest in 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.

The agreement with Red Eye Resources is part of Nicola Mining's broader strategy to grow its milling business and generate revenue by processing ore from other companies. This approach not only maximizes the utilization of its mill but also contributes to the development of the mining sector in British Columbia by providing essential services to junior miners who may lack the resources to build their own processing facilities.

Investors and industry observers will be watching how this partnership unfolds and whether it leads to increased throughput at the Merritt Mill, potentially boosting Nicola Mining's financial performance. The company's ability to attract third-party feed is a testament to its strategic foresight and the value of its permitted infrastructure.

For more details, the full press release is available at https://ibn.fm/gv6pR. More news and updates on Nicola Mining can be found in the company's newsroom at https://ibn.fm/NICM.