Nicola Mining and Ocean Partners Inject $10M into Blue Lagoon Gold Project

In a significant move to bolster gold and silver production in British Columbia, Nicola Mining Inc. (NASDAQ: NICM) (TSX.V: NIM) (FSE: HLIA) and Ocean Partners UK Limited have each committed $5 million, totaling $10 million, to Blue Lagoon Resources (CSE: BLLG). This financing is earmarked to accelerate development and ramp up production at Blue Lagoon's wholly-owned Dome Mountain Gold and Silver Project near Smithers, B.C., targeting 150 to 200 tonnes per day. Nicola completed its investment via a private placement at $0.60 per share, acquiring 8,333,333 common shares. This investment follows Nicola's earlier $1 million stake in January 2024, while Ocean Partners has now invested a cumulative $8 million in Blue Lagoon.

The collaboration strengthens ties among mine development, concentrate marketing, and milling infrastructure, with Nicola's wholly-owned Merritt Mill poised to play a pivotal role as Blue Lagoon advances production. Nicola Mining, a junior mining company listed on the TSX Venture and Frankfurt exchanges, operates a fully permitted mill near Merritt, B.C., capable of processing both gold and silver via gravity and flotation methods. The company also owns the high-grade copper New Craigmont Project and the Treasure Mountain Property, spanning over 2,200 hectares. This strategic investment underscores Nicola's commitment to expanding its footprint in the precious metals sector while supporting regional mining development.

For the full press release, visit https://ibn.fm/Wh0vf. For more on Nicola Mining, see their newsroom at https://ibn.fm/NICM. This article has been disseminated on behalf of Nicola Mining Inc. and may include paid advertising.