Nicola Mining Inc. and Ocean Partners UK Limited have committed a combined $10.0 million in financing to Blue Lagoon Resources to support the ongoing development and production ramp-up of the Dome Mountain Gold and Silver Project located near Smithers, British Columbia, as gold prices rose 5.14% to $4,331.00 over the 30-day period ending August 10, 2026.

The funding is structured in two equal $5.0 million tranches. Nicola Mining completed its investment through a private placement priced at $0.60 per share, acquiring 8,333,333 common shares and building on its earlier $1.0 million investment from January 2024. Ocean Partners contributed an equal amount, bringing its total commitment to the project to $8.0 million.

The capital is earmarked to advance mine development activities designed to lift production toward a target of 150 to 200 tonnes per day at the 100%-owned Dome Mountain operation.

The transaction integrates mine development with milling and concentrate marketing infrastructure. High-grade mill feed from Dome Mountain is processed at Nicola Mining’s fully permitted Merritt Mill, which operates as British Columbia’s only fully permitted milling facility authorized to handle gold and silver material sourced across the province. Processed concentrate is subsequently marketed through Ocean Partners.

"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."

— Peter Espig, CEO

Read the full announcement: Nicola Mining and Its Partner Ocean Partners Provide $10.0 Million in Financing to Blue Lagoon Resources Inc.