Mr. Peter Schloo reports

HERITAGE MINING - DRILL PROGRAM UPDATE AND PLANNED ALCONA PHASE II DRILL PROGRAM

Heritage Mining Ltd. has released additional drill results from its phase 1 2023 program at Alcona and Moretti at its flagship Drayton-Black Lake project (DBL project). Heritage is now planning the phase 2 exploration and drill program to further define the deposit potential at Alcona.

2023 drill program highlights:

• Alcona area, HML23-007: 0.90 gram per tonne gold over 10.15 metres from 104.75 m;
• Moretti area, HML23-012: 1.01 g/t Au over five m from 105 m;
• Alcona area approved for phase 2 drill program.

"After the successful completion of our phase 1 program, we are thrilled to share the progress achieved at Alcona. Against the backdrop of a robust gold environment, we are delighted to announce that the time is ripe to propel ourselves into phase 2 at Alcona.

"Our 2023 field and drill program has not only validated but also expanded the deformation corridor, now boasting an impressive approximately 200 m width, one kilometre in strike length and a depth reaching at least 145 m, which remains wide open in all directions. The advantages of year-round accessibility, full drill permitting and strategic proximity to existing infrastructure allows for year-round exploration. This further fortifies, in the current gold market, the tremendous exploration potential we are unlocking in the Alcona area.

"We are eagerly awaiting results from Moretti, New Millennium and our comprehensive project-wide prospecting program. Your continued support is invaluable as we navigate and capitalize on the promising developments in our exploration journey.

"In our commitment to advancing the project, we have initiated discussions with industry experts specializing in resource development and drilling optimization. Their valuable expertise will play a crucial role in optimizing our phase 2 program at Alcona. We look forward to building on this momentum and achieving continued success in our exploration and development endeavours," commented Peter Schloo, president, chief executive officer and director.

2024 planned exploration program -- Alcona area

The Alcona area planned phase II program encompasses ground induced polarization, geological modelling, stripping and drilling.

Moretti area

Every hole in the company's drill program intersected the Moretti deformation corridor. Key highlights include HML23-012 with partial results showing 1.01 g/t Au over five m from 105 m, and HML23-013 and HML23-014 intersecting the corridor, although with no significant gold values. HML23-015 results are pending. While initial Moretti results have been disappointing, further exploration is warranted to unlock its full potential.

Qualified person

Mitch 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.

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