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NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC TheNewswire - February 26, 2024 Heritage Mining Ltd. (CSE:HM ) ( FRA:Y66) (" Heritage " or the " Company ") is pleased to announce that it has been approved for the fourth tranche of a $200,000 grant (the " Grant ") from the Ontario Ministry of Mines under the Ontario Junior Exploration Program (" OJEP ").
OJEP Approval
The Grant is the maximum amount available under OJEP for a junior mining company and was provided in respect of expenditures Heritage incurred in advancing its flagship Drayton-Black Lake Project during the period April 2023 to February 2024. The Company also highlights receipt of payment in full from the third tranche OJEP Grant previously announced on December 29 th , 2023 in the amount of C$200,000.
"We would like to thank the Ministry of Mines for the approval of funds pertaining to the OJEP program. We look forward to further advancing our projects in Northwestern Ontario in a systematic manner." commented Peter Schloo, President, CEO and Director of Heritage.
"Providing junior exploration companies like Heritage Mining with the resources they need to find and develop significant mineral deposits will help position Ontario as a global leader in mineral exploration. Through programs like OJEP we are keeping the drills spinning and enabling Ontario's mining sector to do what it does best." said George Pirie, Minister of Mines.
OJEP helps junior mining companies finance early exploration projects in Ontario. These projects help boost
mineral exploration, growth and job creation in the province.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
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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