VANCOUVER, BC, June 9, 2025 / IRW-Press / Nicola Mining Inc. (the “Company” or “Nicola”) (TSX: NIM) (OTCQB: HUSIF) (FWB: HLIA) is pleased to announce that the Company received a multi-year area-based exploration permit with permit number MX-15-121 (the “MYAB Permit”) on June 4, 2025. Under the MYAB Permit, Nicola is authorized to conduct extensive exploration activities on its 100% owned Treasure Mountain Silver Project[i] (“Treasure Mountain”), a fully permitted silver mine (Permit 239), located 30 km northeast of Hope, approximately 3 hours drive from Vancouver (British Columbia) (Fig. 1).
Figure 1. Location of Treasure Mountain
The receipt of the MYAB Permit follows the Company’s August 30, 2024 announcement that the mining lease for Treasure Mountain[ii] under its M-239 permit has been extended for ten years (the “Extension”). The Extension is valid until April 26, 2032. With the receipt of the MYAB Permit, the Company can now utilize both its mining and exploration capabilities.
Treasure Mountain is the site of a historical underground silver mine that has a resource estimate in accordance with CIM Definition Standards[iii] and exploration potential north and west of the historical mine. The MB Zone is located approximately 800 m northwest of the current mining areas on the north flank of the mountain, where no drilling has taken place yet. In 2010, the Cal vein was discovered here, which yielded a grade of 9,221 g/t Ag, 1.02% Cu, 1.14% Pb, and 1.03% Zn in a surface sample [iv]. Subsequent soil sampling was conducted in 2011/2012 and 2013 and provided encouraging results. [v] Minor exploration programs conducted between 2019 and 2021 on the northwest side of the mountain included soil and rock sampling, mapping, and surface drilling campaigns. These programs identified a 2 km long soil anomaly that appears to be associated with a vein system of approximately the same strike length. Initial drilling at the outcropping vein confirmed the continuity of mineralization consistent with the soil anomaly. [vi]
Under the MYAB Permit, the Company is authorized to conduct the following exploration activities in the areas shown below (Fig. 2) over the next five years:
– 30 drill holes
– 1,400 m of trenching
– 4,500 m of total road construction
– 20 km of exposed electrode geophysical surveys
Figure 2. Location map showing MYAB Permit boundaries
Peter Espig, CEO of Nicola Mining Inc., stated: “With the receipt of the MYAB Permit number MX-15-121, in conjunction with the recently approved ten-year extension of our mining permit number M-239, Nicola is in an enviable position, as the Company has a project here that offers both mining and exploration potential and has been forgotten by most investors. Strengthened by robust silver prices and the existing permits, we are excited about these prospects and look forward to exploring our Treasure Mountain project for the first time in over a decade.”
Qualified Person
William Whitty, P. Geo., VP Exploration of the Company, is the qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. He has supervised the preparation of the technical information in this news release and has reviewed and approved it.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the TSX-V Exchange and Frankfurt Stock Exchange that holds 100% ownership of a milling and tailings facility near Merritt, British Columbia. The company has entered into profit-sharing agreements for mining and processing with high-grade gold projects based in BC. Nicola’s fully permitted mill can process both gold and silver using gravity and flotation processes.
The company owns 100% of the New Craigmont Project, a property that hosts historical copper mineralization and covers an area of more than 10,800 hectares along the southern end of the Guichon Batholith, adjacent to Highland Valley Copper, Canada’s largest copper mine. Additionally, the company owns 100% of the Treasure Mountain Property, which includes 30 mineral claims and one mineral lease, covering an area of more than 2,200 hectares.
For the Board of Directors
“Peter Espig”
Peter Espig
CEO Director
For further information please contact:
Contact: Peter Espig
Phone: (778) 385-1213
Email: info@nicolamining.com
URL: www.nicolamining.com
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The original language (usually English) in which the original text is published is the official, authorized, and legally valid version. This translation is provided for better understanding. The German version may be abridged or summarized. No responsibility or liability is assumed for the content, correctness, appropriateness, or accuracy of this translation. From the translator’s point of view, the message does not constitute a buy or sell recommendation! Please note the English original message on www.sedarplus.ca, www.sec.gov, www.asx.com.au/ or on the company website!
[i] Treasure Mountain Silver Project/Mine: Link : https://nicolamining.com/projects/treasure-mountain-silver-project/
[ii] Press release from August 30, 2024: Link: https://stockhouse.com/news/press-releases/2024/08/30/nicola-mining-provides-operations-and-exploration-update
[iii] Ostensoe, E. A., Giroux, G. H. and Beaton, A. J., 2009, Technical Report, Resource Estimation, Mining and Reclamation Plan and Economic Evaluation, Treasure Mountain Property, Tulameen River Area, B. C., Canada.
[iv] Press release from August 25, 2010: Link: https://www.sedarplus.ca/csfsprod/data109/filings/01623612/00000001/s%3A%5CHDA0825.pdf
[v] Press release from October 7, 2013: Link: https://nicolamining.com/huldra-silver-inc-resamples-and-verifies-mineralization-in-the-m-b-zone-treasure-mountain-project-british-columbia-canada/
[vi] Assessment Report for 2021 Exploration (Assessment Report Exploration 2021) : https://apps.nrs.gov.bc.ca/pub/aris/detail/39721
The English original release can be found at the following link:
English Original Release
