Nicola Mining and Blue Lagoon receive first payment for gold and silver under long-term partnership

Nicola Mining Inc. (TSXV: NIM,OTC:HUSIF) (the “Company” or “Nicola Mining”) is pleased to announce that it and Blue Lagoon Resources (CSE: BLLG) (“Blue Lagoon”) have sold gold and silver for US$1.0 million to Ocean Partners UK Limited1 (“Ocean Partners”). The company is also pleased to announce that Blue Lagoon has continued to provide steady transportation since the commencement of gold and silver feed transportation as announced on December 1, 20252. The two parties had previously announced3 a commitment to a long-term partnership4.

Peter Espig, CEO of Nicola, commented: “Nicola is very excited to be working closely with Blue Lagoon as the two companies mutually ramp up production and revenues amid strong precious metals prices. Blue Lagoon management has done a fantastic job in leading the project through permitting and mine development to producer.”

Qualified person
Cameron Lilly, P. Eng., the company’s plant manager, is the Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and oversaw the preparation of, reviewed and approved the technical information contained in this press release.

About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the Exchange and the Frankfurt Exchange and operates a 100% captive mill and tailings facility located near Merritt, British Columbia. It has signed mining and milling profit share agreements with high-grade gold projects. Nicola’s fully permitted mill can process both gold and silver mill feed via gravity and flotation processes.

The company owns 100% of the New Craigmont Project, a high-grade copper project covering more than 10,800 hectares along the south side of the Guichon Batholith and adjacent to Highland Valley Copper, Canada’s largest copper mine. The company also owns 100% of the Treasure Mountain Property, a fully licensed high-grade silver mine comprising 30 mineral claims and a mineral lease, covering an area of ​​more than 2,200 hectares.

On behalf of the Board of Directors

“Peter Espig”

Peter Espig
CEO & Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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¹ Ocean Partners is active in several countries around the world. Ocean Partners maintains a strong global network of relationships and contacts in the base metals mining and smelting sector.
² News item: December 1, 2025 Link
³ Nicola Mining News item dated June 23, 2025
⁴ News item from Blue Lagoon from September 29, 2025: Link

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279429