Nicola Mining Inc. and Talisker Resources Ltd. Enter into Milling Agreement

Rhea-AI Summary

Nicola Mining Inc. announces a Milling Agreement with Talisker Resources for its Merritt Mill, a $30.0 million plus facility in British Columbia. The Agreement allows Talisker to transport material to Nicola's mill site, making it the only facility in the province permitted to accept third-party gold and silver mill feed. Nicola is set to commence milling operations and finalize its 2024 Exploration Program at the historic Craigmont Copper Mine.

Vancouver, British Columbia--(Newsfile Corp. - April 9, 2024) - Nicola Mining Inc. (TSXV: NIM) (FSE: HLIA), (the "Company" or "Nicola") is pleased to announce that on April 1, 2024, it and Talisker Resources Ltd. (TSX: TSK) (OTCQX: TSKFF) (“Talisker”) have signed a Milling Agreement (the “Agreement”). Under the Agreement, Talisker may transport material to Nicola's mill site, located near Merritt, British Columbia. Nicola's Merritt Mill is a unique $30.0 million plus milling and processing facility constructed on free-hold industrial-zoned land owned 100% by the Company.

Nicola's Merritt Mill is the only facility in the Province of British Columbia permitted to accept third party gold and silver mill feed from throughout the province.

Since 2016, Nicola has entered into several profit share agreements with mining companies, including Osisko Development.

The Company is in a strong position as it prepares to commence milling operations and is in the process of finalizing its 2024 Exploration Program, at the historic Craigmont Copper Mine. Details 2024 Exploration Program will be announced later.

Qualified Person
William Whitty, P. Geo, Nicola's VP of Exploration, 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 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: info@nicolamining.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204628

FAQ

What is the significance of the Milling Agreement between Nicola Mining Inc. and Talisker Resources ?

The Agreement allows Talisker to transport material to Nicola's Merritt Mill, making it the only facility in British Columbia permitted to accept third-party gold and silver mill feed.

Where is Nicola's Merritt Mill located?

Nicola's Merritt Mill is located near Merritt, British Columbia.

Who is the Qualified Person for the technical disclosure in the news release?

William Whitty, P. Geo, Nicola's VP of Exploration, is the Qualified Person defined by National Instrument 43-101.