Mr. Peter Schloo reports

HERITAGE DOUBLES DOWN AT MELBA: EXPANDS LAND PACKAGE AHEAD OF PENDING DRILL RESULTS

Heritage Mining Ltd. has entered a definitive asset purchase agreement with DH Exploration Inc. (the vendor) to acquire 12 unpatented mining claims adjacent to the Melba mine (a former past producer from early-mid 1900s which Heritage is in the process of earning a 75-per-cent interest in) in the Kirkland Lake gold district. The company is also pleased to announce additional staking around the Melba mine project. The project now totals about 3,886 hectares.

"Consolidating this ground around the historic Melba mine is a meaningful step in building Heritage's footprint in one of Canada's most proven gold camps. We look forward to further updates on our current diamond drill program in short order," commented Peter Schloo, president, chief executive officer and director of Heritage.

Asset purchase agreement summary

Purchase price

The consideration payable by Heritage to the vendor for the claims shall be 1.5 million common shares in the capital of Heritage and $30,000 in cash to the vendor over a five-month period payable in equal $5,000 monthly instalments, with the first instalment payable within two business days of signing of the asset purchase agreement. Additionally, Heritage will grant the vendor a 1-per-cent net smelter return royalty on the claims on the date of the closing of the acquisition of the claims.

Closing of the acquisition of the claims is subject to customary conditions precedent for a transaction of this nature, including Heritage's payment of all cash instalments and the approval of the Canadian Securities Exchange.

Melba mine property description

The Melba mine is located in Northwestern Ontario, Canada, southwest of Matheson, Ont., approximately seven kilometres west off the King's Highway 11, on the section of highway travelling from Kirkland Lake to Cochrane. The Melba mine is located on the west central part of Ontario close to the Ontario and Quebec border. It is fortunate that the location of the Melba property lies within the central hub of over 100 years of mining activities, including active mining operations within the Abitibi greenstone belt.

The claim package includes single-cell mining claims now spanning approximately 3,886 hectares and one mining lease.

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 historic data, excellent site access and logistical support from the local community.

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