Heritage Mining Closes Final Tranche of Private Placement

Heritage Mining Ltd. has closed the final tranche of its non-brokered private placement, raising approximately $970,000 through the issuance of 3,750,000 flow-through shares (FT Shares) and up to 19,425,000 units (Units), bringing the total gross proceeds to about $2,525,000. The closing occurred on September 15, 2026.

The final tranche was led by Peter Schloo, the President, CEO, and Director of Heritage Mining Ltd., and Ten Point Fund, managed by Greg Scholfield. Both parties subscribed for C$200,000 worth of Units each, bringing their combined investment to C$400,000. Remaining orders came from existing high-net-worth and institutional investors, who have shown continued support for the company.

Peter Schloo expressed satisfaction with the company's progress, commenting, "I’m delighted to support the Company as we progress the Melba Project. The timing could not be better as we look to bring Melba to its full potential." Greg Scholfield added, "We have supported the Company since its inception and have not sold one share. We will continue to support Heritage Mining Ltd. in both private placements and in the market."

The FT Shares issued will qualify as "flow-through shares" for Canadian exploration expenses, specifically "critical mineral mining expenditures." Heritage Mining Ltd. plans to incur these expenses on or before December 31, 2027, with the right to renounce them in favor of the subscribers of the FT Shares effective December 31, 2026.

Each Unit consists of one common share and one common share purchase warrant. Warrants will entitle the holder to acquire one common share at an exercise price of $0.05 per share, expiring 60 months from the closing date. A finder's fee of 7% in cash and compensation unit warrants, equivalent to 7% of the gross proceeds from the sale of FT Shares and Units, may be payable on certain orders.

Heritage Mining Ltd. is a Canadian mineral exploration company advancing projects in Northwestern and Northeastern Ontario. The Melba Property, located near Ramore, Ontario, is one of its key assets. The company benefits from a wealth of historic data and excellent site access, supported by the local community.

This financing will help Heritage Mining Ltd. advance its exploration and development plans, particularly for the Melba Project. The company's next steps include incurring qualifying expenditures and renouncing them to the subscribers of the FT Shares.