Nicola Mining Inc. announced that it has completed mill upgrades and has commenced milling operations with material supplied from Osisko Development Corp. The Company announced in its January 9, 2023 news release that the two parties had signed a Mining and Milling Profit Share Agreement. The Company has noticed a significant increase in mining related activity in British Columbia and is currently in discussions with multiple parties about future mining and milling profit share agreements, in addition to the Osisko Agreement.

As the only facility in the Province of British Columbia permitted to accept third party gold and silver mill feed from throughout the province, the Company is poised to benefit from the increased activity. Given the increased demand for Nicola's mill, the Company is considering increasing the size of its ball mill up to 500 tonnes a day, from its current capacity of 200 tonnes, optimizing performance. The modern mill was constructed with the premises that it may be upgraded for increased throughput in the future.

Its floatation capacity is already able to handle increased production.