Vancouver, British Columbia–(Newsfile Corp. – April 5, 2024) – Nicola Mining Inc. (TSXV: NIM) (FSE: HLIA) (OTCQB: HUSIF) (the “Company” or “Nicola”) announces that it has commenced the structure of a cement plant with its spouse Lower Nicola Site Services Ltd (“LNSS”), which is a partnership between Lower Nicola Indian Band Development Corporation and Infracon Construction Inc. The Company announced on March 14, 2022 that it had entered into a rock and gravel extraction and preferential engagement agreement with LNSS and subsequently, on March 29, 2022, effectively won a Notice of Exit (“NoD”) for the Department of Energy, Mines and Lowlands’ New Craigmont Project. Carbon Innovation (“EMLI”) to function as a rock quarry. According to the NoD, the company can extract up to 3. 0 million tonnes (“Mt”) of available inert rock that can be used for infrastructure restructuring efforts at a production rate of approximately 1,500 tonnes per day.
The cement plant will be located in a gravel pit owned by the Company (Permit G1519) and operated through LNSS. The gravel pit is adjacent to the site of the Craigmont mine, located near Merritt, British Columbia. Since Nicola and LNSS (together, the “Partners”) are already active in the supply of riprap, sand and gravel to the region and in infrastructure projects, vertical integration being a logical evolution.
The partners also submitted a request for a five-year extension for the exploitation of the gravel pit.
Peter Espig, President and CEO, commented: “The ability to be artistic and collaborate greatly with the LNSS, while helping First Nations, local communities and many infrastructure projects, is more than just an opportunity to generate profit; it’s a chance to contribute. Providing cement will not only increase our income, but it will also benefit communities and relationships. “
William Whitty, P. Geo. , the company’s vice president of exploration, is the qualified person under National Instrument 43-101 Disclosure Standards for Mineral Projects for the technical disclosure contained in this press release.
About Nicola Mining
Nicola Mining Inc. es a junior mining company listed on the Frankfurt Stock Exchange and operates a wholly-owned mill and tailings facility located near Merritt, British Columbia. It has signed mining and milling profit-sharing agreements with high-grade gold projects. Nicola’s fully licensed plant can perform flotation and gravity procedures with gold and silver feeding.
The Company owns one hundred per cent of the New Craigmont Project, a high-quality copper property, covering a 10,913-hectare domain along the southern end of Guichon Batholite and adjacent to Highland Valley Copper, Canada’s largest copper mine. owns 100 percent of the Treasure Mountain property, which includes 30 mineral rights and a mining lease, covering a domain of more than 2,200 hectares.
“Pierre Espig”
Peter EspigCEO & Director
For information
Contact: Peter EspigPhone: (778) 385-1213 Email: info@nicolamining. com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is found in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this release are forward-looking statements that reflect management’s expectations regarding the Company. Forward-looking statements consist of statements that are not purely historical, including statements relating to beliefs, plans, expectations or intentions relating to the future, including, but not limited to, statements relating to the allocation of profits and royalties under the agreement for maintenance of Nicola’s site, adding legal responsibilities for recovery and annual reporting and that Nicola will continue to work largely with experts and service providers contracted in the past Array. These statements are subject to dangers and uncertainties that could cause actual results, functionality or developments to differ materially. of the contents in the statements, adding dangers related to points beyond the control of the Company. These dangers include, but are not limited to, adjustments to Nicola’s business relationships and plans, adjustments to the intended uses of proceeds and royalties under the Agreement, Nicola’s inability to obtain mandatory approvals for the EMLI NoD, as well as other business risks. , economical in general. or market position dangers beyond the control of the Company’s directors and which would possibly affect the Company’s business and operations. The new strain of coronavirus, COVID-19, also continues to pose unspeakable and immeasurable dangers of late. There can be no assurance that any of the events anticipated in the forward-looking statements will occur or, if they do occur, what benefits the Company will derive from them. The Company assumes no legal responsibility to update forward-looking data if cases or management estimates or revisions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking data.
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