Heritage Doubles Down at Melba: Expands Land Package ahead of Pending Drill Results

13:00 Uhr  |  The Newswire

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VANCOUVER, February 2, 2026 - Heritage Mining Ltd. (CSE: HML FRA: Y66) ("Heritage" or the "Company") is pleased to announce it has entered a definitive asset purchase agreement (the "Asset Purchase Agreement") with DH Exploration Inc. (the "Vendor") to acquire twelve (12) unpatented mining claims (the "Claims") adjacent to the Melba Mine (a former past producer from early-mid 1900's which Heritage is in the process of earning a 75% 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 ~3,886 Ha

"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 CEO, and Director of Heritage

Figure 1: Property Map - Melba Mine

Asset Purchase Agreement Summary:

Purchase Price

The consideration payable by Heritage to the Vendor for the Claims shall be 1,500,000 common shares in the capital of Heritage and C$30,000 in cash to the Vendor over a 5 month period payable in equal C$5,000 monthly instalments, with the first instalment payable within two (2) Business days of signing of the Asset Purchase Agreement. Additionally, Heritage will grant the Vendor a 1% 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 Ontario (Figure One) 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's fortunate 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 ~3886 hectares and one mining lease.

ABOUT HERITAGE MINING LTD.

The Company is a Canadian mineral exploration company advancing its Ontario Project Portfolio 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, Ontario. All Projects benefit from a wealth of historic data, excellent site access and logistical support from the local community.

For further information, please contact:

Heritage Mining Ltd.

Peter Schloo, CPA, CA, CFA

President, CEO and Director

Phone: (905) 505-0918

Email: peter@heritagemining.ca

FORWARD-LOOKING STATEMENTS

This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.

Forward looking information involves known and unknown risks, uncertainties and other factors which 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, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward?looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any 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, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.

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