Nicola Mining Inc. (TSX.V: NIM) (OTCQB: HUSIF)

Nicola Mining Inc. (TSX.V: NIM) (OTCQB: HUSIF) is a junior resource company focused on monetizing high-grade mineral assets in British Columbia. With a unique dual-pronged model, the company combines solid operational revenues from its wholly-owned, state-of-the-art gold and silver mill with the long-term upside of 100%-owned copper, silver, and gold exploration projects. This approach allows Nicola to fund ongoing development while minimizing equity dilution.

The company’s strategy centers on aligning infrastructure and permitting advantages with mineral-rich geology, positioning it to process its own, as well as third-party high-grade gold and silver mines via partnerships, to advance its own exploration targets. Key agreements with gold producers and concentrating sales contracts provide stable cash flow, making Nicola rare among juniors in its ability to internally support growth. Its solid balance sheet and business acumen have allowed it to take stakes in other near-term gold producers, including a 75% economic stake in Dominion Gold, which commences a bulk sample in 2H 2025.

Nicola is leveraging its platform of permitted infrastructure, strategic project locations, and deep technical expertise to build shareholder value in a low-risk, high-reward framework. The company is headquartered in Vancouver, British Columbia.

Projects

Nicola Mining’s project portfolio includes high-grade copper, silver, and gold assets located in mineral-rich regions of British Columbia. Each project is 100%-owned or majority-controlled, with strong exploration potential and the necessary permits to advance development.

New Craigmont Copper Project

Nicola’s flagship asset, the New Craigmont Project, is a historic producer of over 900 million pounds of copper. Since acquiring 100% ownership in 2015, the company has drilled over 18,000 meters and identified significant skarn-hosted and porphyry-style mineralization. Recent drilling in 2024 confirmed 52.9 meters at 1.03% Cu (Hole NC-24-002), supporting the presence of a large-scale copper system. The project benefits from paved road access, connection to BC Hydro’s grid, and proximity to urban centers.

Treasure Mountain Silver Project

This 100%-owned past-producing mine has a Major Mines permit (M-239) and an NI 43-101 compliant resource estimate. The site includes multiple silver-lead-zinc veins and is permitted to extract up to 60,000 tonnes annually. Nicola is evaluating potential reactivation or joint venture options. Resource estimates include indicated resources of 52,000 tonnes grading 18.1 oz/t Ag, 3.26% Pb, and 3.4% Zn, and inferred resources of 161,000 tonnes grading 22.0 oz/t Ag, 2.48% Pb, and 3.86% Zn.

Dominion Creek Project (Au-Ag)

Nicola holds a 50% land ownership and 75% economic stake in this gold-silver project. Located 43 km from Wells, British Columbia, the site has returned grab samples averaging 61.3 g/t Au and 173.7 g/t Ag. The company has received its final permit and plans to extract a 10,000-tonne bulk sample in 2025, which will be processed at its Merritt Mill facility.

Operations

In addition to its exploration assets, Nicola Mining operates a suite of permitted industrial facilities in British Columbia that generate revenue and support the company’s broader development strategy. These assets form the backbone of Nicola’s self-sustaining business model.

Merritt Mill & Tailings Facility

Nicola owns and operates British Columbia’s only provincially permitted toll mill for gold and silver, a $30 million flotation facility located near Merritt. Gold production began in 2023. The facility is supported by long-term Milling and Profit Share Agreements with companies including Osisko Development Corporation, Blue Lagoon Resources, and Talisker Resources.

Sand & Gravel Pit / Rock Quarry / Ready-Mix Concrete Plant

Nicola also operates a permitted gravel pit (100,000 t/year), rock quarry (1,500 t/day), and is set to launch a ready-mix cement plant in Q2 2025. These operations, run in partnership with local First Nations, generate stable cash flow to support exploration efforts.

Market Opportunity

Nicola Mining is uniquely positioned in southern British Columbia, a jurisdiction recognized for its mining-friendly policies, skilled labor force, and robust infrastructure. The New Craigmont Project is geologically situated within the Guichon Creek Batholith, a region hosting some of Canada’s largest copper mines, including Highland Valley. Exploration data from 2023 and 2024 support the potential presence of both skarn and porphyry systems, increasing the strategic value of Nicola’s holdings.

The company’s other assets, including Treasure Mountain and Dominion Creek, are located in historically productive areas with high-grade mineralization and established access routes. Dominion Creek, in particular, sits atop the Isaac Lake Fault system—identified in British Columbia’s RGS (Regional Geochemical Survey) as a highly anomalous gold-silver corridor. Nicola’s integrated production model enables it to generate revenue while advancing these exploration programs without excessive dilution, providing a distinct advantage in a volatile commodities market.

Leadership Team

Peter Espig, Chief Executive Officer & Director, is a former diamond driller who spearheaded Nicola through a restructuring into its recent growth. He brings over $2 billion in private equity transaction experience, is a pioneer of SPACs, and has held senior positions at Goldman Sachs Japan and Olympus Capital.

Will Whitty, VP of Exploration, brings to the company over 15 years of experience in copper and gold exploration. He previously worked at Freeport-McMoRan and Nevada Gold Mines. He holds a master’s degree from the Mineral Deposit Research Unit (MDRU) at the University of British Columbia.

Bill Cawker, Corporate Development, manages investor relations, communications, and corporate governance. He joined Nicola in 2023 and brings extensive small-cap public markets experience, along with a degree in economics from the University of British Columbia.

Sam Wong, Chief Financial Officer, is a CPA with over 18 years of experience in the mining sector. He previously held executive roles at several publicly listed resource companies. He began his career at Deloitte LLP in Vancouver.