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VANCOUVER, BC – TheNewswire - December 4, 2023 – Heritage Mining Ltd. (CSE:HML) (FRA:Y66) (“Heritage” or the “Company”) is pleased to announce the geophysical interpretation for its Contact Bay property (“Contact Bay”), a wholly owned exploration project located 12 kilometers south-southwest of the town of Dryden in Ontario.

 

Exciting highlights from our exploration efforts include the interpretation defining two substantial mafic-ultramafic intrusive bodies with multiple Ni-Cu-PGE Target Areas (Figure 1,2):

 

• Nabish Lake Area (Ni-Cu-PGE) (~ 5km long, up to 1km wide, over 1km in depth) 

• North Nabish Lake Area (Ni-Cu-PGE) (~ 2km long, 1km wide, over 1km in depth) 

 

These highlights, coupled with findings from our 2023 prospecting program, suggest geological similarities to other Archean Ni-Cu-PGE Occurrences and Deposits.

 

“In the positive landscape of critical battery metals, these developments underscore the promising potential we hold in advancing our position in this strategic sector." Commented Peter Schloo, President CEO and Director.

Planned Exploration Program

Based on our airborne geophysical surveys and our 2023 prospecting programs Heritage plans to evaluate the Ni-Cu-PGE and Au Targets Areas by completing Induced Polarization surveys and follow up Diamond Drill evaluation on a priority basis. With year round access to the property, direct road access and infrastructure in place, Heritage enjoys the opportunity to continue working through the winter.

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Figure 1: Geophysical Interpretation of Contact Bay Geology

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Figure 2: Contact Bay – 2023 field program results

    

Qualified Person

 

Mitch Lavery P. Geo, Strategic Advisor to 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.

 

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

 

Investor Relations

 

Investor Cubed Inc.

Neil Simon, CEO

Email: nsimon@investor3.ca

Telephone: (647) 258-3310

   

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.