Nicola Mining and Lower Nicola Site Services Commence Construction of Cement Plant to Service Infrastructure Projects
Nicola Mining and Lower Nicola Site Services
Commence Construction of Cement Plant to
Service Infrastructure Projects
Vancouver, British Columbia--(Newsfile Corp. - April 5, 2024) - Nicola Mining Inc. (
TSXV: NIM
) (
FSE:
HLIA
) (
OTCQB: HUSIF
) (the "
Company
" or "
Nicola
") announces that it has commenced construction
of a cement plant along with its partner Lower Nicola Site Services Ltd ("
LNSS
"), which is a partnership
between the Lower Nicola Indian Band Development Corporation and Infracon Construction Inc.
The
Company announced on
March 14, 2022
, that it had entered into a Rock and Gravel Extraction and
Preferential Engagement Agreement with LNSS, and subsequently that on March 29, 2022, that it
successfully received a Notice of Departure ("
NoD
") at the New Craigmont Project from the Ministry of
Energy, Mines and Low Carbon Innovation ("
EMLI
") to operate a rock quarry.
Under the NoD the
Company can extract of up to 3.0 million tonnes ("
Mt
") of inert available rock material that may be used
for the infrastructure reconstruction efforts at a production rate of approximately 1500 tonnes per day.
The cement plant is to be located on a gravel pit owned by the Company (Permit G1519) that is
operated by LNSS.
The gravel pit is adjacent the Craigmont Mine Site, located near Merritt, British
Columbia.
Given that Nicola and LNSS (together, the "
Partners
") are already active in supplying riprap,
sand and gravel to the region and infrastructure projects, the vertical integration was a logical
development.
The Partners have also submitted a five-year mine extension permit application for the gravel pit
operations.
Peter Espig, Chief Executive Officer, commented, "The ability to be creative and work closely with
LNSS, as we support First Nations, local communities, and numerous infrastructure projects is more
than just a revenue generation opportunity; it is a chance to contribute.
Supplying cement will not only
augment our revenues, but it will also benefit communities and bridge relationships."
Qualified Person
William Whitty, P. Geo., VP of Exploration for the Company, is the Qualified Person as defined by
National Instrument 43-101 -
Standards of Disclosure for Mineral Projects
for the technical disclosure
contained in this news release.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the Exchange and Frankfurt Exchange that
maintains a 100% owned 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 property, which covers an
area of 10,913 hectares along the southern end of the Guichon Batholith and is adjacent to Highland
Valley Copper, Canada's largest copper mine. The Company also owns 100% of the Treasure Mountain
Property, which include 30 mineral claims and a mineral lease, spanning an area exceeding 2,200
hectares.
On behalf of the Board of Directors
"
Peter Espig
"
Peter Espig
CEO & Director
For additional information
Contact:
Peter Espig
Phone: (778) 385-1213
Email:
Forward-Looking Information
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.
Certain statements in this release are forward-looking statements, which reflect the expectations of
management regarding the Company. Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding
the future, including but not limited to, statements regarding the allocation of revenues and royalties
under the Agreement towards Nicola's site maintenance, including annual reports and reclamation
obligations and that Nicola will continue to work closely with previously engaged consultants and service
providers. Such statements are subject to risks and uncertainties that may cause actual results,
performance or developments to differ materially from those contained in the statements, including risks
related to factors beyond the control of the Company. These risks include, but are not limited to, changes
in Nicola's business relationships and plans, changes in the anticipated uses of revenues and royalties
under the Agreement, the failure of Nicola to receive the necessary approvals for the NoD from the EMLI,
as well as other general business, economic, or market related risks beyond the director control of the
Company and which may affect the Company's business and operations. The novel strain of coronavirus,
COVID-19, also continues to pose risks that are currently indescribable and immeasurable. No
assurance can be given that any of the events anticipated by the forward-looking statements will occur
or, if they do occur, what benefits the Company will obtain from them. The Company undertakes no
obligation to update forward-looking information if circumstances or management's estimates or
opinions should change, unless required by law. The reader is cautioned not to place undue reliance on
forward-looking information.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/204205