Mr. Peter Schloo reports

HERITAGE MINING LTD. ANNOUNCES CLOSING OF ITS NON-BROKERED PRIVATE PLACEMENT OF UNITS

Heritage Mining Ltd. has closed the non-brokered private placement financing previously announced on Dec. 29, 2023.

The company raised an aggregate of $439,000 in gross proceeds on the issuance of 8.78 million units. Each unit was issued at a price per unit of five cents, and is composed of one common share in the capital of the company and one common share purchase warrant entitling the holder to acquire one common share for a period of 24 months from issuance at an exercise price of 7.5 cents.

Pursuant to Section 4.2(c) of the option agreement dated Jan. 6, 2021, between the company and Paul Riives, the company issued an aggregate of 500,000 common shares in the capital of the company at a deemed price of five cents per common share to Mr. Riives, as contemplated the option agreement.

The company paid an aggregate $1,600 in cash commissions and issued an aggregate of 32,000 compensation options in connection with the private placement. Each compensation option entitles the holder to acquire one compensation option unit for a period of 24 months from issuance at an exercise price of five cents. Each compensation option unit consists of one common share and one warrant.

Proceeds of the private placement will be used to finance the company's exploration efforts on its flagship Drayton-Black Lake project and Contact Bay project, in addition to general working capital. All securities issued pursuant to the private placement are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The company looks forward to continuing to advance its planned exploration program on the Drayton-Black Lake project and Contact Bay project.

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.