Mr. Peter Schloo reports

AMENDED: HERITAGE MINING INTERSECTS MULTIPLE HIGH-GRADE AU-AG INTERVALS FROM SURFACE TO SHALLOW DEPTHS IN EACH OF HOLES 1 THROUGH 6 DRILLED IN ALCONA AREA

Heritage Mining Ltd. has released drill results (holes 1 to 6) from its phase 1, 2023 program in the Alcona area at its flagship Drayton-Black Lake project (DBL project). The drill program totalled 2,208 metres of NQ2 diamond drill core in nine holes within the Alcona area (holes 7, 8 and 17 pending).

Alcona area drill program highlights:

• Multiple significant gold-silver intersections within broad anomalous zones in each hole (1 to 6);
• Approximately one-kilometre strike length and approximately 145-metre vertical depth confirmed by current drill results;
• Highest drill intersection ever recorded:
  • HML23-004: 19.45 grams per tonne Au and 62.10 g/t Ag over 1.05 m from 177.90 m, contained in a 15 m anomalous zone with a weighted average grade of 1.48 g/t Au from 174 m to 189 m.

Highlights:

• HML23-001:
  • 1.26 g/t Au over 2.15 m from 38.35 m;
  • 1.54 g/t Au and 5.17 g/t Ag over 1.50 m from 45 m;
  • These intersections are part of an 8.15 m anomalous zone with a weighted average grade of 0.68 g/t Au from 38.35 m to 45.55 m.

Note: HML23-001 confirmed at surface via prospecting Delaney vein (15.35 g/t Au and 163 g/t Ag and 16.5 g/t Au and 29.9 g/t Ag surface grabs) proving Alcona area geological modelling.

• HML23-002:
  • 9.14 g/t Au and 30.63 Ag over one m, including 15.2 g/t Au and 50.70 Ag over 0.50 m;
  • This intersection is part of a 11.40 m anomalous zone with a weighted average grade of 0.86 g/t Au from 30.70 m to 42.10 m.
• HML23-003:
  • 1.34 g/t Au over 1.30 m from 5.7 m;
  • 5.32 g/t Au and 11.85 g/t Ag over 0.65 m from 11.85 m;
  • These intersections are part of a 6.8 m anomalous zone with a weighted average grade of 0.77 g/t Au from 5.70 m to 12.50 m.
• HML23-004:
  • 1.81 g/t Au over one m from 65 m;
  • 1.96 g/t Au and 3.51 g/t Ag over 2.90 m from 70.60 m, including 4.81 g/t Au and 8.05 g/t Ag over 0.50 m;
  • These intersections are part of an 8.50 m anomalous zone with a weighted average grade of 0.91 g/t Au from 65 m to 73.50 m;
  • 19.45 g/t Au and 62.10 g/t Ag over 1.05 m from 177.90 m;
  • These intersections are part of a 15 m anomalous zone with a weighted average grade of 1.48 g/t Au from 174 m to 189 m.
• HML23-005:
  • 5.75 g/t Au and 30.41 g/t Ag over 1.35 m from 70.30 m, including 9.75 g/t Au and 53.30 g/t Ag over 0.75 m;
  • These intersections are part of a 10.40 m anomalous zone with a weighted average grade of 0.79 g/t Au from 70.30 m to 80.70 m.

"We are thrilled at the results from our first drill program at Alcona. Early possible indications of a large-tonnage, low-grade deposit are present. The Alcona area contains high deposit potential with year-round access and proximity to infrastructure, an ideal phase 2 winter program candidate.

"Holes 7, 8 and 17 are pending assays. We are very excited about holes 7 and 8 as they've shown very encouraging mineralization; so much so, we added a stepback hole from hole 7 (hole 17) to the drill program and they both also hit unexpected mineralization near surface, widening the corridor.

"Phase 2 planning has been initiated and will be communicated to the market once we have received all assays from this area.

"Over all, a fantastic start to our drilling program. We look forward to communicating additional results in the near future on Alcona, New Millennium (never drilled) and Moretti target areas," said Peter Schloo, president, chief executive officer and director.

"I am encouraged by the number of high-grade intersections and anomalous gold mineralization between them.

"The Alcona area has potential to host a high-tonnage, low-grade gold deposit. More drilling is required to substantiate our geological modelling on this target," said Mitch Lavery, PGeo, strategic adviser and qualified person to the company.

Alcona area

Mineralized deformation corridor over 1,000 m (up to 200 m wide) consisting of multiple discrete zones of deformed volcanic rocks and shear parallel quartz veins.

Qualified person

Mr. Lavery, PGeo, strategic adviser for the company, serves as a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.

About Heritage Mining Ltd.

The company is a Canadian mineral exploration company advancing its two high-grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou greenstone belt. Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The company is well capitalized, with a tight capital structure.

We seek Safe Harbor.