Heritage Mining Ltd. Closes Final Tranche of Private Placement, Raising Over $2.6 Million

TORONTO, ON — September 17, 2026 — Leads & Copy — Heritage Mining Ltd. (CSE:HML) (FRA:Y66) has successfully closed the fourth and final tranche of its non-brokered private placement, raising gross proceeds of $930,500. This brings the total aggregate gross proceeds raised under the offering to approximately $2,600,500.

In the final tranche, the Company issued 4,000,000 flow-through shares (FT Shares) at $0.04 per share for $160,000 and 19,262,500 units at $0.04 per unit for $770,500. The FT Shares will be used to fund eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures related to Heritage Mining's projects in Ontario, Canada. These expenditures are planned for completion by December 31, 2027, with the expenses to be renounced to the FT Share subscribers effective December 31, 2026.

Each unit comprises one common share and one common share purchase warrant. Each warrant allows the holder to purchase one common share at $0.05 per share until September 16, 2031. The final tranche was notably led by Peter Schloo, CPA, CA, CFA, President, CEO, and Director of the Company (via Great White Capital Ltd.), and Ten Point Fund, managed by Greg Scholfield, Portfolio Manager with Corton Capital Inc. Both Schloo and Scholfield's entities subscribed for $200,000 of units each. Additional subscriptions came from existing high-net-worth and institutional investors.

In connection with the final tranche, Heritage Mining paid eligible finders $19,400 in cash fees and issued 485,000 compensation unit warrants. These warrants, representing 7% cash and 7% compensation unit warrants on finder orders, plus an additional 1% cash and 1% compensation unit warrants on certain President's List orders, grant the holder the right to acquire one unit at $0.04 per unit for 60 months following the closing.

All securities issued in the final tranche are subject to a statutory hold period of four months and one day, expiring on January 17, 2027. The Company will submit the necessary post-closing notices to the Canadian Securities Exchange.

The participation of Peter Schloo and Director Patrick Mohan in the final tranche constitutes a related party transaction under Multilateral Instrument 61-101. They subscribed for an aggregate of $225,000 in units. Heritage Mining is utilizing exemptions from formal valuation and minority shareholder approval requirements based on the fair market value of securities issued and consideration paid not exceeding 25% of the Company's market capitalization. The board of directors approved the issuance, with Schloo and Mohan abstaining from voting due to their interest. A material change report was not filed at least 21 days prior to closing because insider participation details were not confirmed. The Company deemed the shorter period reasonable for expeditious completion.

This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities have not been registered under the U.S. Securities Act and may not be offered or sold in the U.S. or to U.S. persons without registration or an applicable exemption.

Heritage Mining Ltd. is a Canadian mineral exploration company focused on its Ontario Project Portfolio in Northwestern and Northeastern Ontario. Its Drayton-Black Lake, Contact Bay, and Scattergood projects are near Sioux-Lookout in the Eagle-Wabigoon-Manitou Greenstone Belt. The Melba Property is near Ramore, Ontario. These projects benefit from extensive historical data, accessible sites, and local community support.

Source: Heritage Mining Ltd.