Nicola Mining Inc. Announces Update on Treasure Mountain Silver Project and Plans for 2026 Exploration Drilling Program

Strategic Insights -

Nicola Mining Inc. has provided an update on its preparation work conducted in 2025 on the Treasure Mountain Silver Project and its plan for the 2026 exploration drilling program. The company has been preparing the project for re-opening, driven by accelerated interest from investors and strategics. The Treasure Mountain Silver Project is a permitted silver mine located in British Columbia, Canada, which was put into care and maintenance in 2013 due to depressed silver prices.

Key Takeaways:

  • The 2026 TM Program is a culmination of an airborne magnetic geophysical survey conducted in 2012, extensive soil sampling programs over multiple years, and 2025 field reconnaissance.
  • Nicola Mining received a multi-year area-based exploration permit (MYAB Permit) in June 2025, allowing the company to conduct diamond drilling and trenching at Treasure Mountain.
  • The company also received a ten-year mine lease extension, further bolstering the attractiveness of re-opening the mine.
  • The area of exploration interest is northwest of the currently suspended mine and consists of several northeast-southwest trending and steeply dipping sulphide-rich veins.
  • Initial interest in this area was driven by Coeur Mining's 2012 investment into the company, giving it a 12.7% ownership stake.
  • Previous exploration work along this trend is limited to six percussion holes totaling 274m in 1994 and 14 "backpack drill" holes totaling 25m in 2020.
  • Widespread soil sampling was conducted in 2019 and 2020, and limited rock samples were collected in 2020 and 2021.
  • The most recent exploration along this trend (sampling conducted by Nicola in 2021) is described in Assessment Report #39721.
  • Results from these programs demonstrate the presence of vein-hosted silver, copper, lead, zinc, and gold.
  • The area is open in all directions, and mineralization is present on surface and open in all directions.

Statistics:

  • The Treasure Mountain Silver Project is located 30 km northeast of Hope and about a 3-hour drive from Vancouver, British Columbia.
  • The mine was put into care and maintenance in 2013 due to depressed silver prices, which dropped below US$20 in 2013.
  • The 2012 airborne magnetic geophysical survey was conducted by Scott Hogg & Associates Ltd.
  • The 2026 TM Program will involve diamond drilling and trenching at Treasure Mountain.
  • The company owns 100% of the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares.

Sources:

  • Newsfile Corp. - October 15, 2025
  • Nicola Mining Inc. (TSXV: NIM) (OTCQB: HUSIF) (FSE: HLIA)
  • Scott Hogg & Associates Ltd.
  • Coeur Mining (NYSE: CDE) (TSX: CDM)
  • British Columbia Geological Survey's (BCGS) Assessment Report Indexing System