FREE

NIM: Draft Permit Received for Dominion Creek Project Bulk Sample

What you need to know:
• Nicola announced that it received a draft permit for the 10,000t bulk sample at the Dominion Creek Mineral Project.
• As a reminder, NIM owns a 75% economic interest in the high-grade gold and silver project with its partner High Range Exploration owning the remaining.
• The bulk sample will be processed at Nicola’s Merritt Milling Facility providing a potential third source of ore to the mill by Q3/25.


This morning, Nicola Mining Corp. (NIM:TSXV, HUSIF:OTC) announced it has received a draft bulk sample permit for its Dominion Creek Mineral Project, a high grade gold and silver project of which NIM owns a 75% economic interest. The Company has already paid the required reclamation deposit and plans to begin ore extraction as early as Q2 with ore processing being conducted at its Merritt Mill & Tailings Facility. We are maintaining our BUY rating and $0.60/share target price on Nicola Mining.

The Company received the draft bulk sample permit from the BC Ministry of Mining and Critical Minerals, allowing for the extraction of 10,000t of ore; we expect the final permit to be secured in the near term. It is expected that NIM could start shipping the ore extracted from the site to its new Merritt Mill in early Q2/25 pending full approval. The Dominion Creek Deposit has shown promising results from previous sampling, including a 9.7kg sample of outcropping sulfide from Number 16 Vein.

Sampling results from Number 16 Vein at the property include:
• 62.1 g/t Au, 320.0 g/t Ag, 23.4% Pb, and 12.3% Zn

Dominion Creek Property
As a reminder, NIM owns a 75% economic interest in Dominion Creek Gold, a high-grade gold project located near Smithers, BC, 43km northeast of Wells and 110km east-southeast of Prince George. Its partner, High Range Exploration, has been associated with the project for over two decades and is excited to finally have the project move towards a mine plan. We do not currently attribute any value for Dominion Creek in our valuation of NIM, but once the Company delivers the final permit approval and provides estimates into production rates and grades, we will look to include the project in our valuation.