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NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC TheNewswire – December 11, 2024 Heritage Mining Ltd. (CSE: HML FRA:Y66) (‘ Heritage ‘ or the ‘ Company ‘) is pleased to announce that the Ontario Ministry of Mines has issued the exploration permit required in connection with its 20242025 Exploration Program on its wholly owned property Contact Bay. The program’s permitted area and focus will be to scout drill the Rognon Mine area (Figure 1) in addition to the previously planned Drayton Black Lake Exploration Program on Zone 3 and New Millennium.
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Figure 1: Ontario Project Portfolio – Heritage Mining Ltd.
‘Strategic capital continues to flow into the district, underscoring the immense potential of one of the last underexplored greenstone belts in Northwestern Ontario, Canada. With the three key target area permits in the rear-view mirror, in-house drill team on site early January 2025, and a cashed up 4,000m program… We are well-positioned to execute all Phase 1 initiatives for our 2024/2025 exploration program, finishing the year on a strong footing.
Further to Heritage Mining Ltd. fully funded 4,000m drilling program. Approximately 2,100m is allocated to a targeted Phase 1 continuation program, with the remaining allocated to follow on drilling. Preparations are underway to push a trail into the Rognon Mine area before year-end, all other target areas are drill ready, and we look forward to mobilizing early in the new year.
This year has marked an unprecedented alignment of technical and capital market strengths for Heritage Mining Ltd. I would like to extend my gratitude to all stakeholders for their contributions and continued support. 2024 has been a transformative year for the Company, and there is still more to achieve before it concludes.
I look forward to updating the market on our exploration progress in short order.’ Commented Peter Schloo, President, CEO and Director of Heritage.
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.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as ‘seek’, ‘anticipate’, ‘plan’, ‘continue’, ‘estimate’, ‘expect’, ‘forecast’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘potential’, ‘targeting’, ‘intend’, ‘could’, ‘might’, ‘should’, ‘believe’, ‘outlook’ and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company’s estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company’s projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
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