Mr. Peter Schloo reports

HERITAGE MINING ANNOUNCES UPSIZE TO NON-BROKERED PRIVATE PLACEMENT AND INITIATES U.S. LISTING PROCESS DUE TO STRONG DEMAND

Heritage Mining Ltd., due to strong market demand, has elected to increase the size of its previously announced non-brokered private placement to accommodate additional investor interest. Heritage now plans to issue up to approximately 18.75 million units at a price of four cents per unit and 18.75 million flow-through (FT) shares at a price of four cents per FT share for gross proceeds of up to $1.5-million.

Additionally, the company is pleased to announce that due to strong market demand from U.S. investors, it intends to pursue a listing on the OTCQX market in Q2 (second quarter) 2026. This strategic initiative is part of the company's plan to broaden its investor base, increase liquidity and enhance its visibility among North American investors. The company has commenced the initial regulatory and administrative steps required for listing, including engaging relevant advisers. Heritage plans to commence trading on the OTCQX under a new ticker symbol to be announced prior to listing, while continuing to trade on the Canadian Securities Exchange under the symbol HML.

Each FT share will qualify as a flow-through share as defined in Subsection 66(15) of the Income Tax Act (Canada). The proceeds of the FT shares will be used to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures as both terms are defined in the act related to the company's projects in Ontario, Canada. The company plans to incur qualifying expenditures on or before Dec. 31, 2027 (or such other period as may be permissible under applicable tax legislation), and to renounce all the qualifying expenditures in favour of the subscribers of the FT shares effective Dec. 31, 2026.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of five cents per warrant share until 4:30 p.m. Pacific Standard time on that date that is 60 months from the closing date of the offering.

Closing of the offering is expected to occur on or before April 18, 2026. The offering is subject to all customary approvals. Proceeds of the offering will be used to finance the company's follow-on exploration work at the company's portfolio of mineral properties and in particular Melba and Drayton-Black Lake based on recent exploration successes. The securities issued pursuant to the offering will be subject to a four-month hold period under applicable securities laws. In connection with the offering, certain finders may receive cash fees and/or non-transferable finders' warrants.

Finders' fees equal to 7 per cent cash and compensation unit warrants equal to 7 per cent of the gross proceeds of the sale of FT shares and units, as applicable, issued pursuant to the offering may be payable on certain orders in accordance with CSE rules. Each compensation unit warrant will entitle the holder to acquire one common share and one warrant of the company at an exercise price of four cents, for a period of 60 months following the closing date.

Finders' fees equal to a 1.0-per-cent cash compensation on the number of units or FT shares, as applicable, issued pursuant to a president's list the offering may be payable on certain orders in accordance with CSE rules.

About Heritage Mining Ltd.

The company is a Canadian mineral exploration company advancing its Ontario project portfolio in Northwestern and Northeastern Ontario. The Drayton-Black Lake, Contact Bay and Scattergood projects are located near Sioux-Lookout in the underexplored Eagle-Wabigoon-Manitou greenstone belt. The Melba property is located near Ramore, Ont. All projects benefit from a wealth of historical data, excellent site access and logistical support from the local community.

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