What you need to know: • Nicola is preparing to commence production at its Dominion Gold Project and has advanced several key initiatives. • Dominion Gold ore will be processed at the Company’s Merritt Mill, which continues to ramp up to steady state, and achieved record revenue in Q1/26. • In combination with continued progress at Blue Lagoon’s Dome Mountain Project, the projects are anticipated to drive an inflection in cash generation. • 2026 exploration at New Craigmont will test the porphyry-skarn system, unlocking further value in the district. This morning, Nicola Mining (NIM:TSXV, NICM:NASDAQ) announced it is in the final stages to commence production at its Dominion Gold Project bulk sample, with numerous key initiatives having advanced in preparation for production. Dominion will be a key profitability driver, offering robust high-grade mineralization to be fed to the Company’s Merritt Mill. In combination with Blue Lagoon’s Dome Mountain Project, we are anticipating materially stronger cash generation on the horizon. We are maintaining our BUY rating and our $1.50/share target price on Nicola Mining. Key initiatives that have been achieved ahead of production include final payment for the 14-person operational camp, including all site facilities, acquiring three excavators (CATERPILLAR 336-07), acquiring a high-performance rock drill attachment (Traxxon TR-EX2000), securing a haul truck (John Deere 310E), hiring an operations crew, and engaging a key mining contractor. Further, the Company has made an additional $251K payment toward its reclamation bond requirements, strengthening its reclamation profile. The Dominion Gold Project is highlighted by its near-term production opportunity, as well as long-term potential. The vein systems remain open in all directions with grades of up to 113 g/t Au and are expected to provide high-grade mill feed to Nicola’s Merritt Mill Operation. In addition, the Company noted it continues to work closely with Blue Lagoon Resources to achieve key production milestones and maintain operational discipline and grade control. Together, Blue Lagoon’s Dome Mountain Project and the Dominion Gold Project are anticipated to mark an inflection in operational growth and cash flow generation for the Company. For reference, Nicola reported Q1 financials on May 15th (further details below), outlining record milling revenue of $1.5M as the Merritt Mill continues to ramp up to steady state, which is anticipated to further accelerate in the coming quarters.