Over the last decade, the conical mill has emerged as a potential piece of equipment to use for continuous dry coating pharmaceutical powders. In this work, silicon dioxide was used as a guest particle on two excipients, fast flow lactose (FFL) and grade PH200 microcrystalline cellulose (MCC), for dry coating by a conical mill with a modified screen that permitted batch and continuous mode operation. Samples were pre-processed in a V-blender. SEM images, particle size distribution, and EDS mapping were used to characterise the treated powders. Pre-processed samples showed some discrete coating of the host particle. After batch processing, the samples were covered with a complete coating. When processed at high impeller speed, coating of FFL was a mix of A200P and FFL fines generated by attrition. Continuous mode processed samples, which had a lower processing time, were coated discretely and showed a better coating than the pre-processed samples. Increasing guest/host mass ratio with FFL host particle had a positive impact on the quality of the coating. These results help to build the case that the processing time of the conical mill is a key parameter to the success of the conical mill as dry coating equipment in the pharmaceutical industry.