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Home Commodities Tartana Minerals: Producer, explorer and developer of copper, gold, silver and zinc in north Queensland, Australia

Tartana Minerals: Producer, explorer and developer of copper, gold, silver and zinc in north Queensland, Australia

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In connection with the Second Tranche, the Company paid an aggregate cash fee of $2,600 and issued an aggregate of 41,666 award options (the “Award Options”), each of which entitles the holder to acquire one additional Unit at a price of $0.05 for a period of 36 months from the date of issuance.

Proceeds from Tranche 2 will be used to fund the exploration and drilling program at the Company’s flagship Drayton-Black Lake project, in addition to general working capital purposes. All securities issued pursuant to Tranche 2 will be subject to a statutory hold period of four months and one day from the date of issuance, pursuant to applicable securities laws.

Insiders of the Company subscribed for 2,570,000 Units pursuant to the Offering. Each transaction with an insider of the Company constitutes a “related party transaction” within the meaning of Multilateral Rule 61-101 โ€“ Protection of Minority Shareholders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from the formal valuation requirement under Section 5.5(a) of MI 61-101 and the minority shareholder approval requirement under Section 5.7(1)(a) of MI 61-101 with respect to such insider participation because the fair market value of the transaction, to the extent an interested party is involved, does not exceed 25% of the Company’s market capitalization.

The Company has also agreed to issue an aggregate of 840,000 common shares at a deemed price of $0.05 per common share to fully satisfy certain contractual obligations.

About HERITAGE MINING LTD.

We are a Canadian mineral exploration company advancing two high-grade gold-silver-copper projects in northwestern Ontario. The Drayton-Black Lake Project and Contact Bay Project are located in the unexplored Eagle-Wabigoon-Manitou Greenstone Belt near Sioux Lookout. Both projects benefit from extensive historical data, excellent site access and logistical support from the local communities. The company is well capitalized and has a rigid capital structure.

For further information, please contact:

Heritage Mining Co., Ltd.

Peter Schlow, CPA, CA, CFA

President, CEO, Director

Phone: (905) 505-0918

Email: contact address

Forward-Looking Statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws. These statements relate to our future events. Statements that express or include discussions of predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seeks,” “anticipates,” “plans,” “continues,” “estimates,” “expects,” “forecasts,” “may,” “will,” “projects,” “predicts,” “potential,” “goals,” “intends,” “could,” “might,” “should,” “believe,” “outlook” or similar words) are not statements of historical fact and may be forward-looking information. All statements contained herein, other than statements of historical fact, are forward-looking statements.

Forward-looking information involves known and unknown risks, uncertainties and other factors that 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, risks inherent in the mining industry, economic and market downturns, the risk that the Company is unable to complete additional acquisitions, risks relating to mineral resource estimates, the possibility that the Company’s estimated burn rates will be higher than expected, the risk of unexpected cost increases, risks of labor shortages, risks relating to exploration and development activities, risks relating to future prices for mineral resources, risks relating to accidents at work sites, risks relating to geological uncertainties and variability, risks relating to government and community support for the Company’s projects, risks relating to the global pandemic and other risks relating to the mining industry. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, no assurance can be given that these expectations will prove to be correct and undue reliance should not be placed on such forward-looking information. These statements speak only as of the date of this news release. The Company does not intend, and assumes no 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, any securities of the Company in Canada, the United States or any other jurisdiction. Any offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to an offer document between the Company and the prospective purchaser. Such offer would be made pursuant to an offer agreement to be entered into by the Company and the prospective purchaser and subject to an exemption from the prospectus and registration requirements under applicable securities laws.

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To contact Heritage Mining Ltd. (CSE: HML) and receive an investor presentation, please click here.

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