Nicola Mining Receives Final Permit for High Grade Dominion Creek Mineral Project and Closes Non-Brokered Private Placement
Nicola Mining Receives Final Permit for High
Grade Dominion Creek Mineral Project and
Closes Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 12, 2025) - Nicola Mining Inc.
(TSXV: NIM)
(FSE: HLIA) (OTCQB: HUSIF)
, (the "
Company
" or "
Nicola
") is pleased to announce that it has
received the
Final Permit ("
Final Permit
1
") to complete a bulk sample
2
at its Dominion Creek Mineral
Project ("
Dominion
"), a high grade gold and silver project, of which Nicola owns a 75% economic
interest.
The Notice of Work for the Dominion Mineral project was initially filed with the Chief Permitting Officer on
Aug 29, 2018 and last updated on Feb 27, 2025.
The Final Permit allows Nicola and its partner, High
Range Exploration Ltd., to complete a bulk sample prior to Feb 27, 2030, after which only reclamation
activities can occur.
In addition to the Final Pemit, a Free Use Permit (MX-100000488) was issued to
upgrade / complete a short haul road for ore transportation.
The Company announced on
March 6, 2025
that it has been issued a draft permit by the British
Columbia Ministry of Mining and Critical Minerals to extract 10,000 tonnes of gold and silver ore at
Dominion, which is located 43 kilometers northeast of the Town of Wells and approximately 110
kilometers east-southeast of Prince George.
The two parties are currently in the process of finalizing plans to mobilize and commence ore extraction,
which is anticipated to commence in July 2025.
The Company is also pleased to announce that it has closed a non-brokered private placement which
was announced on February 25, 2025.
The news release announced a non-brokered private placement
consisting of up to 7,142,857 units (each, a
"Unit
") at a price of $0.28 per Unit for gross proceeds of up
to $2,000,000.
However, given the Company's cash and equivalent position, it was determined that the
smaller and less dilutive amount was sufficient.
The Company issued 4,038,955 Units for aggregate gross proceeds of $1,130,907.40 and paid
$63,827.36 in finder's fees for net proceeds of $1,067,080.00.
The financing is now closed, and the
Company will not be seeking additional funds associated with the current financing.
All securities issued in connection with the Offering will be subject to a statutory hold period expiring four
months and one day after closing of the Offering.
None of the securities sold in connection with the Offering will be registered under the United States
Securities Act of 1933
, as amended, and no such securities may be offered or sold in the United States
absent registration or an applicable exemption from the registration requirements. This news release
shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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
has reviewed and approved
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 includes 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:
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.
_________________________
1
Permit Number: MX-100000488 and Mine Number: 1101145
2
Bulk Sample:
An exploration and development activity conducted on a mineral claim to investigate the metallurgical properties of an ore body, to test
extractive milling methods, mill equipment, and potential markets.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/244396