Vancouver, British Columbia--(Newsfile Corp. - August 10, 2026) - Nicola Mining Inc. (NASDAQ:NICM) (TSXV:NIM) (FSE: HLIA) (the &#34;Company&#34; or &#34;Nicola&#34;) is pleased to announce that it, and Ocean Partners UK

Vancouver, British Columbia--(Newsfile Corp. - August 10, 2026) - Nicola Mining Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NICM">NICM</a>) (TSXV:<a class="ticker" href="https://www.benzinga.com/quote/NIM">NIM</a>) (FSE: HLIA)&#160;(the "<a href="https://api.newsfilecorp.com/redirect/7n4yAUPyX4">Company" or "Nicola</a>") is pleased to announce that it, and Ocean Partners UK Limited1&#160;("Ocean Partners") have committed to a combined $10.0 million in financing to Blue Lagoon Resources (CSE:<a class="ticker" href="https://www.benzinga.com/quote/BLLG">BLLG</a>) ("Blue Lagoon").The financing consists of two equal tranches, with Nicola investing $5.0 million and Ocean Partners investing $5.0 million, to support the continued development and production ramp-up of Blue Lagoon's 100%-owned Dome Mountain Gold and Silver Project, located near Smithers, British Columbia2. The financing is expected to advance mine development activities necessary to increase production toward the targeted 150-200 tonnes per day.Nicola's investment was completed through a private placement at $0.60 per share, resulting in the acquisition of 8,333,333 common shares. This investment builds upon Nicola's earlier strategic investment of $1.0 million at $0.14 per share completed on January 17, 20243&#160;underscoring the Company's long-term conviction in Blue Lagoon's management team and the Dome Mountain project.Ocean Partners' participation further reinforces the strategic alignment among the parties. Combined with its previously announced $3.0 million investment4, Ocean Partners has now committed $8.0 million to Blue Lagoon. Collectively, Nicola and Ocean Partners have established a significant strategic equity position while providing capital intended to accelerate production growth.Beyond the equity investment, the financing further strengthens the integrated relationship between mine development, concentrate marketing, and milling infrastructure. As Blue Lagoon advances production, Nicola's wholly owned <a href="https://api.newsfilecorp.com/redirect/ejRQPSQA25">Merritt Mill</a>-British Columbia's only fully permitted milling facility authorized to process gold and silver material sourced throughout the province-is expected to play an increasingly important role in supporting regional mining operations.Mr. Peter Espig, CEO of Nicola Mining Inc., commented:"This investment reflects our confidence in both the quality of the Dome Mountain asset and Blue Lagoon's management team's ability to execute its production strategy. Nicola's objective extends beyond providing capital-we seek to partner with companies that can benefit from our operational infrastructure, technical expertise, and long-term strategic relationships. Together with Ocean Partners, we believe this financing positions Blue Lagoon to accelerate its transition toward sustained commercial production while strengthening an integrated mining model that combines financing, processing, and concentrate marketing. As Nicola continues to expand and upgrade the Merritt Mill, we remain committed to supporting responsible mine development throughout British Columbia and creating long-term value for all stakeholders."Qualified Person The scientific and technical disclosures included in this news release have been reviewed and approved by Will Whitty, P.Geo., who is the Qualified Person as defined by NI 43-101. Mr. Whitty is Vice President of Exploration for the Company.About Nicola Mining Nicola Mining Inc. is a junior mining company listed on the NASDAQ, the TSX Venture 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 over 10,800 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" <div id="contactInfo">Peter Espig CEO &#38; Director For additional informationContact: Peter Espig Phone: (778) 385-1213 Email: <a href="mailto:info@nicolamining.com">info@nicolamining.com</a></div>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.<hr style="width: 33%; margin-left: 0px; border-top: 1px solid #000000;" />1&#160;Ocean Partners operates in several countries throughout the world. Ocean Partners maintains a strong global network of relationships and contacts in the base metal mining and smelting sector. 2&#160;May 19, 2026 New Release: <a href="https://api.newsfilecorp.com/redirect/87jyNUmKeK"> Link</a> 3&#160;Stockwatch Report: <a href="https://api.newsfilecorp.com/redirect/y4OJkuyXw7"> Link</a> 4&#160;May 19, 2026 New Release: <a href="https://api.newsfilecorp.com/redirect/1KNyAcQOBm"> Link</a><img src="https://images.newsfilecorp.com/files/4873/308818_c1679673c463ebf1_logo.jpg" id="corporateNewsLogo" alt="Corporate Logo" />To view the source version of this press release, please visit <a href="https://api.newsfilecorp.com/redirect/A8LAJUXNMr">https://www.newsfilecorp.com/release/308818</a><img src="https://api.newsfilecorp.com/newsinfo/308818/197" alt="" />

NICM

Nicola Mining and Its Partner Ocean Partners Provide $10.0 Million in Financing to Blue Lagoon Resources Inc.

Nicola Mining and Ocean Partners fund Blue Lagoon to accelerate Dome Mountain

<section class="insight" data-version="1">
 <section data-block="information">
 <h3>Information</h3>
 Vancouver, British Columbia--(Newsfile Corp. - August 10, 2026) - Nicola Mining Inc. (NASDAQ:NICM) (TSXV:NIM) (FSE: HLIA) (the &amp;#34;Company&amp;#34; or &amp;#34;Nicola&amp;#34;) is pleased to announce that it, and Ocean Partners UK
 </section>

 <section data-block="ai-summary-paragraph">
 <h3>AI Summary</h3>
 Nicola Mining and Ocean Partners agreed to a $10 million financing for Blue Lagoon Resources, split evenly. Nicola bought 8,333,333 shares at $0.60, reinforcing a long-term stake and aligning with Dome Mountain&#039;s development toward higher production (150-200 tpd). The deal also expands use of Nicola&#039;s Merritt Mill to support regional processing.
 </section>

 <section data-block="ai-summary-bullets">
 <h3>Key Points</h3>
 <ul><li>Nicola Mining and Ocean Partners commit $10M to Blue Lagoon.</li><li>Nicola invests $5M for 8,333,333 shares at $0.60.</li><li>Ocean Partners now commits $8M to Blue Lagoon.</li><li>Merritt Mill is BC&#039;s only fully permitted gold-silver processor.</li><li>Dome Mountain production target set at 150-200 tpd.</li></ul>
 </section>

 <section data-block="companies-mentioned">
 <h3>Companies Mentioned</h3>
 <ul><li>Nicola Mining Inc. (NICM): Increases strategic stake in Blue Lagoon; leverages Merritt Mill for processing.</li><li>Blue Lagoon Resources (BLLG): Beneficiary of financing; Dome Mountain development accelerates production plan.</li><li>Ocean Partners UK Limited (N/A): Strategic investor providing half of the funding; strengthens Blue Lagoon financing.</li></ul>
 </section>

 <section data-block="category">
 <h3>Corporate Developments</h3>
 Category: Corporate Developments. The press release details a strategic financing and equity stake expansion, which could influence NICM&#039;s asset base, access to processing capacity, and near-to-medium-term valuation, even though it is not an earnings or dividend event.
 </section>

 <section data-block="market-moving">
 <h3>Market-Moving</h3>
 <ul><li>Private placement increases NICM&#039;s equity stake in Blue Lagoon.</li><li>Production ramp to 150-200 tpd supports Blue Lagoon&#039;s economics.</li><li>Merritt Mill expansion could boost regional processing capacity.</li><li>Ocean Partners&#039; $5M tranche reinforces strategic alignment and capital cadence.</li></ul>
 </section>

 <section data-block="key-facts">
 <h3>Key Facts</h3>
 <ul><li>Financing total: $10.0 million split evenly between Nicola and Ocean.</li><li>Nicola subscription: 8,333,333 shares at $0.60.</li><li>Blue Lagoon Dome Mountain near Smithers, BC.</li><li>Target production ramp to 150-200 tonnes per day.</li><li>Nicola previously invested $1.0 million at $0.14 in Jan 2024.</li></ul>
 </section>

 <section data-block="trading-thesis">
 <h3>Trading Thesis</h3>
 Over the next 6–12 months, NICM&#039;s stake in Blue Lagoon could unlock value as production progresses.
 </section>
</section>


Vancouver, British Columbia--(Newsfile Corp. - August 10, 2026) - Nicola Mining Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NICM">NICM</a>) (TSXV:<a class="ticker" href="https://www.benzinga.com/quote/NIM">NIM</a>) (FSE: HLIA)&#160;(the "<a href="https://api.newsfilecorp.com/redirect/7n4yAUPyX4">Company" or "Nicola</a>") is pleased to announce that it, and Ocean Partners UK Limited1&#160;("Ocean Partners") have committed to a combined $10.0 million in financing to Blue Lagoon Resources (CSE:<a class="ticker" href="https://www.benzinga.com/quote/BLLG">BLLG</a>) ("Blue Lagoon").The financing consists of two equal tranches, with Nicola investing $5.0 million and Ocean Partners investing $5.0 million, to support the continued development and production ramp-up of Blue Lagoon's 100%-owned Dome Mountain Gold and Silver Project, located near Smithers, British Columbia2. The financing is expected to advance mine development activities necessary to increase production toward the targeted 150-200 tonnes per day.Nicola's investment was completed through a private placement at $0.60 per share, resulting in the acquisition of 8,333,333 common shares. This investment builds upon Nicola's earlier strategic investment of $1.0 million at $0.14 per share completed on January 17, 20243&#160;underscoring the Company's long-term conviction in Blue Lagoon's management team and the Dome Mountain project.Ocean Partners' participation further reinforces the strategic alignment among the parties. Combined with its previously announced $3.0 million investment4, Ocean Partners has now committed $8.0 million to Blue Lagoon. Collectively, Nicola and Ocean Partners have established a significant strategic equity position while providing capital intended to accelerate production growth.Beyond the equity investment, the financing further strengthens the integrated relationship between mine development, concentrate marketing, and milling infrastructure. As Blue Lagoon advances production, Nicola's wholly owned <a href="https://api.newsfilecorp.com/redirect/ejRQPSQA25">Merritt Mill</a>-British Columbia's only fully permitted milling facility authorized to process gold and silver material sourced throughout the province-is expected to play an increasingly important role in supporting regional mining operations.Mr. Peter Espig, CEO of Nicola Mining Inc., commented:"This investment reflects our confidence in both the quality of the Dome Mountain asset and Blue Lagoon's management team's ability to execute its production strategy. Nicola's objective extends beyond providing capital-we seek to partner with companies that can benefit from our operational infrastructure, technical expertise, and long-term strategic relationships. Together with Ocean Partners, we believe this financing positions Blue Lagoon to accelerate its transition toward sustained commercial production while strengthening an integrated mining model that combines financing, processing, and concentrate marketing. As Nicola continues to expand and upgrade the Merritt Mill, we remain committed to supporting responsible mine development throughout British Columbia and creating long-term value for all stakeholders."Qualified Person The scientific and technical disclosures included in this news release have been reviewed and approved by Will Whitty, P.Geo., who is the Qualified Person as defined by NI 43-101. Mr. Whitty is Vice President of Exploration for the Company.About Nicola Mining Nicola Mining Inc. is a junior mining company listed on the NASDAQ, the TSX Venture 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 over 10,800 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" <div id="contactInfo">Peter Espig CEO &#38; Director For additional informationContact: Peter Espig Phone: (778) 385-1213 Email: <a href="mailto:info@nicolamining.com">info@nicolamining.com</a></div>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.<hr style="width: 33%; margin-left: 0px; border-top: 1px solid #000000;" />1&#160;Ocean Partners operates in several countries throughout the world. Ocean Partners maintains a strong global network of relationships and contacts in the base metal mining and smelting sector. 2&#160;May 19, 2026 New Release: <a href="https://api.newsfilecorp.com/redirect/87jyNUmKeK"> Link</a> 3&#160;Stockwatch Report: <a href="https://api.newsfilecorp.com/redirect/y4OJkuyXw7"> Link</a> 4&#160;May 19, 2026 New Release: <a href="https://api.newsfilecorp.com/redirect/1KNyAcQOBm"> Link</a><img src="https://images.newsfilecorp.com/files/4873/308818_c1679673c463ebf1_logo.jpg" id="corporateNewsLogo" alt="Corporate Logo" />To view the source version of this press release, please visit <a href="https://api.newsfilecorp.com/redirect/A8LAJUXNMr">https://www.newsfilecorp.com/release/308818</a><img src="https://api.newsfilecorp.com/newsinfo/308818/197" alt="" />

Nicola Mining and Ocean Partners agreed to a $10 million financing for Blue Lagoon Resources, split evenly. Nicola bought 8,333,333 shares at $0.60, reinforcing a long-term stake and aligning with Dome Mountain's development toward higher production (150-200 tpd). The deal also expands use of Nicola's Merritt Mill to support regional processing.

News insight

Nicola Mining and Its Partner Ocean Partners Provide $10.0 Million in Financing to Blue Lagoon Resources Inc.

AI summary

Sentiment rationale

Key facts

Corporate Developments