Tartana Minerals is a new copper producer with strong cash flow and a substantial exploration footprint in a tier 1 mining jurisdiction. Tartana Minerals is creating shareholder value through investment in increasing its existing copper, zinc and gold resources and accelerating exploration of key projects within its highly prospective exploration portfolio. Tartana Minerals presents a compelling investment against a strong macroeconomic environment for copper.
Tartana Minerals (ASX:TAT) is a copper, gold, silver and zinc, producer, explorer and developer in Far North Queensland. Its flagship project is the 100 percent owned Tartana copper and zinc project which comprises four mining leases located north of Chillagoe. The company’s business model has involved refurbishing an existing heap leach - solvent extraction – crystallisation plant which is located on the Tartana mining leases. The refurbishment and commissioning of this plant is now completed and the company is producing copper sulphate pentahydrate which is sold to offtaker, Kanins International. Copper sulphate is priced on a premium plus percentage of the LME copper price and provides investors with leverage to anticipate increasing copper prices.
The company, formerly known as R3D Resources, changed its name to Tartana Minerals in April 2024. Tartana Minerals is based in Sydney, Australia.
Tartana Minerals has reported the following resources:
These copper, zinc and gold resources remain open at depth and along strike and the company has designed drilling programs to expand these resources. In particular, the copper mineralisation and potentially the gold mineralisation have scope to be upgraded through ore sorting.
However, the refurbished heap leach – solvent extraction – crystallisation plant utilises existing copper in the ponds and the heaps and these copper sources will be replenished when we commence mining from the open pit.
Copper sulphate contains 25 percent copper metal and payment is based on the LME copper price for the preceding month plus a premium. It is one of the few forms of saleable copper where the copper content receives the full LME price.
Sprinklers operating on the lower heap. Note the presence of copper (blue).
Tartana Minerals completed the acquisition of Queensland Strategic Metals with drilling planned to commence in 2025 that includes the Daisy Bell tin-tungsten project where historical drilling and our mapping have identified a potentially tin-rich zone.
The Chillagoe region of Far North Queensland is highly prospective with the discovery and development of a number of key projects over the last few decades including Red Dome (2.5 Moz gold), Mungana (1.2 Moz gold), and King Vol (250 kt zinc). These deposits occur along the Palmerville Fault in a similar location to the Tartana Mining leases.
The mining leases at Tartana contain copper, zinc and gold mineralisation but the company also has significant projects which are both east and west of the Palmerville Fault. In the west it has the Cardross and Mountain Maid copper-gold projects and further north it has the Beefwood project. Mountain Maid has gold resources mentioned above and which are open to the south and at depth while the company is finalising a maiden copper resource for the Cardross project.
The Beefwood project comprises a buried geophysical target and surface sampling has recovered samples grading up to 180 g/t gold with no apparent source. Drilling is planned to test this target in the current dry season.
In the east of the Palmerville Fault, the company has the Bellevue/Dry River project, the OK South project and the Dimbulah Porphyry project, all copper projects with historic copper mines and prospects. Like many parts of Far North Queensland, historical exploration has not been systematic and thorough despite many promising expressions of surface mineralisation.
At the Nightflower project, Tartana has upgraded its exploration target after reviewing its earlier estimation, in light of the recent increases in the antimony price. Nightflower is a high-grade silver-lead deposit with previously overlooked significant antimony credits. Nightflower exploration target includes 2.75 Mt @ 364 g/t silver equivalent for 32 Moz silver equivalent to 5.36 Mt @ 270 g/t silver equivalent for 47 Moz silver equivalent (the exploration target is conceptual in nature only and there is no guarantee that further exploration will define a resource). Drilling is now being planned to test the target and upgrade previously identified mineralisation to JORC 2012 reporting standards.
Tartana’s exploration team comprises experienced exploration geologists with supporting cash flow from their copper production, they expect to be able to drill the most promising targets in the short term.
Overall, the macroeconomic environment for copper remains strong. The LME three-month copper price hit US$5.24/lb on May 17, the highest since March 7, 2022, driven by a weaker US dollar, Chinese property stimulus measures, and a short squeeze on the Chicago Mercantile Exchange futures market.
In the near-to-mid term, China’s demand for refined copper is expected to grow, due to better-than-expected performances from key consumer segments, including the power grid, solar installations and electric vehicle and air conditioning appliance sales. On the supply side, the copper concentrate market is expected to remain in a significant deficit due to the estimated delay in the Cobre Panama mine restart but will be partially offset by the higher projected production from smelters in China. As a result, we see further demand growth and supply tightening for the copper market as positive for base metal equities to maintain significant leverage to increase prices.
Jihad Malaeb is an experienced entrepreneur across a number of industries, including hospitality and construction, as well as having significant experience in mineral exploration and mining operations – both as an active investor and company director. He currently owns and operates a portfolio of hospitality businesses and real estate across Australia, which have been established over the past 30 years. Malaeb was previously a non-executive director of Critical Resources (ASX:CRR), where he helped steer CRR as one of its largest shareholders and as a board member.
Steve Bartrop’s professional experience spans more than 30 years covering periods in both the mining industry and financial sector. With a geology background, Bartrop has worked in exploration, feasibility and evaluation studies and mining in a range of commodities and in different parts of the world. In the financial sector, he has been involved in research, corporate transactions and IPOs spanning more than 20 years, including senior roles at JPMorgan, Bankers Trust and Macquarie Equities.
Bruce Hills is an accountant and is currently an executive director of Breakaway Investment Group, which operates the Breakaway Private Equity Emerging Resources Fund. Hills is a director of a number of unlisted companies in the mining and financial services sectors including The Risk Board and Stibium Australia. Hills has 35 years’ experience in the financial sector including 20 years in the banking industry primarily in the areas of strategy, finance and risk.
Dr. Alistair Lewis is a successful entrepreneur and highly experienced medical doctor with over 40 years’ experience. For the past 10 years, Lewis has been involved in the management of mining and exploration companies. In 2017, Lewis established Oosen Lewis Mining in North Queensland. He financed the aggregation of a substantial portfolio of gold, tin, tungsten and antimony assets and instigated subsequent extensive exploration programs. These assets now form part of the QSM portfolio.
Michael Thirnbeck is an experienced geologist with over 25 years in managing numerous mineral development projects in Papua New Guinea, Indonesia and Australia. He has been a member of the Australasian Institute of Mining and Metallurgy since 1989 and holds B.Sc (Hons.) degree from the University of Queensland.
Shuyi (Kiara) Wang was appointed a director of Tartana Minerals on July 17, 2024. Wang is an accomplished, emerging leader with a strong academic and professional background. She holds a Bachelor of Arts majoring in Philosophy from The University of Melbourne and is currently pursuing a Juris Doctor at the prestigious Melbourne Law School.
Copper, gold, silver and zinc, producer, explorer and developer in Far North Queensland, Australia
Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the Metals & Mining Virtual Investor Conference, held July 23 rd and 24 th are now available for online viewing.
The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download investor materials from the company's resource section.
Select companies are accepting 1x1 management meeting requests through July 29 th .
July 23 rd
| Presentation | Ticker(s) |
| Andean Silver Ltd. | (OTCQX: ADSLF | ASX: ASL) |
| G50 Corp. Limited | (OTCQB: GFTYF | ASX: G50) |
| Silver Tiger Metals Inc. | (OTCQX: SLVTF | TSXV: SLVR) |
| Viva Gold Corp. | (OTCQB: VAUCF | TSXV: VAU) |
| Liberty Gold Corp. | (OTCQX: LGDTF | TSX: LGD) |
| UR-Energy Inc. | (NYSE American: URG | TSX: URE) |
| Arizona Sonoran Copper Company | (OTCQX: ASCUF | TSX: ASCU) |
| Northisle Copper & Gold Inc. | (OTCQX: NTCPF | TSXV: NCX) |
| Element79 Gold Corp. | (OTCQB: ELMGF | CSE: ELEM) |
| Rackla Metals Inc. | (TSXV: RAK) |
July 24 th
| Presentation | Ticker(s) |
| Heliostar Metals Ltd. | (OTCQX: HSTXF | TSXV: HSTR) |
| Camino Minerals Corp | (OTCID: CAMZF | TSXV: COR) |
| West Red Lake Gold Mines Ltd. | (OTCQB: WRLGF | TSXV: WRLG) |
| Silver47 Exploration Corp. | (OTCQB: AAGAF | TSXV: AGA,OTC:AAGAF) |
| Axcap Ventures Inc. | (OTCID: GARLF | CSE: AXCP) |
| AbraSilver Resource Corp. | (OTCQX: ABBRF | TSX: ABRA) |
| Myriad Uranium Corp. | (OTCQB: MYRUF | CSE: M) |
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FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on its Normal Course Issuer Bid (" NCIB ") that was announced on December 2, 2024 . Since December 5, 2024 the Company has repurchased a total of 720,000 common shares (" Common Shares ") of the Company at an average price of $0.24 per share under the NCIB.
The repurchased shares represent progress toward the Company's ability to acquire up to an aggregate of 5,000,000 Common Shares, representing approximately 2% of the Company's issued and outstanding shares, over the 12-month period ending December 5, 2025 . All shares repurchased under the NCIB have been cancelled.
Purchases under the NCIB continue to be executed through open market transactions on the TSX Venture Exchange, with the acquisition price determined by the prevailing market conditions at the time of each transaction. Cormark Securities Inc. is managing the NCIB on behalf of FPX.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/.
On behalf of FPX Nickel Corp.
"Martin Turenne"
Martin Turenne , President, CEO and Director
Forward-Looking Statements
Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE FPX Nickel Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/24/c8569.html
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Vancouver, British Columbia July 23, 2025 TheNewswire - Juggernaut Exploration Ltd (JUGR.V) (OTCQB: JUGRF) (FSE: 4JE) ( the "Company" or "Juggernaut") is pleased to announce that it has mobilized for the 2025 surface exploration program aimed at identifying additional high-grade drill targets on the Big One property (the " Property "), Golden Triangle, British Columbia. This new discovery yielded assays up to 79.01 gt Au (2.54 ozt Au) and 3157.89 gt Ag (101.5 ozt Ag) from >200 gold-silver-copper rich polymetallic veins up to 8 m wide and striking for up to 500 m that remain open. These veins were identified along the newly discovered 11 km Highway of Gold surrounding the Eldorado gold system on the Big One property. The discovery is located in an area of glacial and snowpack abatement adjacent to the extensive gold-rich porphyry systems at Galore Creek. The 100 % controlled property covers 36,989 hectares in a Tier 1 geologic terrane with tremendous additional discovery potential.
The focus of the 2025 exploration program is to sample and trace in detail the full geometry of the multiple drill-ready high-grade gold veins as well as identify additional drill targets for the planned maiden drill program. The 2025 exploration program will consist of:
Dan Stuart, President and CEO of Juggernaut Exploration states " The Big One is arguably one of the most significant new grassroots gold-silver discoveries in the Golden Triangle in recent years. This year's program is designed with a clear objective: to systematically advance and expand upon our five inaugural, drill-ready targets and to generate additional new targets for our fully funded 2026 maiden drill program. The sheer scale of the system, with over 200 mineralized veins exposed at surface by glacial abatement, all point towards a powerful, district-scale mineralizing engine at depth. A Notice of Work application (drill permit application) has been submitted to the British Columbia Ministry of Mining and Critical Minerals in preparation for the 2026 inaugural drill program. We have only just started to scratch the surface on the property and likely only seen the tip of the iceberg."
ELDORADO PORPHRYRY SYSTEM - 11 KM HIGHWAY OF GOLD - HIGHLIGHTS
The Big One property is situated in a region that is well known for hosting world class precious metal and porphyry deposits, several of which occur near the property including the multiple Tier 1 porphyry systems at Galore Creek (12,159 million pounds of copper, 9.438 million ounces of gold, 174.086 million ounces of silver), the world's largest known gold reserve at KSM (47.3 million ounces of gold, 160 million ounces of silver, 7.32 billion pounds of copper) and the polymetallic copper project at Shaft Creek (5 billion pounds of copper, 3.7 million ounces of gold, 16.4 million ounces of silver), as well as the Brucejack high-grade epithermal gold deposit (14 million ounces of gold, 91.8 million ounces of silver), and the structurally controlled high-grade hydrothermal gold-silver zones at Trophy and Sphal Creek. The property geology is favorable to host these types of deposits as confirmed by the presence of extensive areas of propylitic alteration, untested geophysical anomalies, strong silt, soil and rock geochemistry including path finder elements directly related to porphyry systems, key structures and textures, porphyry-style mineralization, and high-grade polymetallic veins, that have been discovered within the Big One claims. BigOne Property Map
The Big One property can be accessed year-round via helicopter from the Glenora/Telegraph Creek Road at the Barrington Mine (33 km to the north-northeast) as well as the Galore Creek Road (15 km to the southeast). The Canadian government committed $20 M to extend/improve the Galore Creek Road to within 15 km of the Big One property. The property is 2 km west of the Scud River airstrip used in the early days of Galore Creek.
A Notice of Work application (drill permit application) has been submitted to the British Columbia Ministry of Mining and Critical Minerals in preparation for the 2026 inaugural drill program. The Big One property exploration qualifies for the Critical Mineral Exploration Tax Credit (CMETC).
About Juggernaut Exploration Ltd.
Juggernaut Exploration Ltd. is an explorer and generator of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. Its projects are in world-class geological settings and geopolitical safe jurisdictions amenable to Tier 1 mining in Canada. Juggernaut is a member and active supporter of CASERM, an organization representing a collaborative venture between the Colorado School of Mines and Virginia Tech. Juggernaut's key strategic cornerstone shareholder is Crescat Capital.
Qualified Person
Rein Turna, P. Geo is the qualified person as defined by National Instrument 43-101, for Juggernaut Exploration projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.
Other
Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence at a rate of 10%.
All samples are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the Paragon Geochemical labs facilities in Surrey, BC or ALS labs facilities in North Vancouver, BC. Paragon Geochemical is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. Samples submitted to Paragon received gold and silver analysis by photon assay whereby the entire sample is crushed to approximately 70% passing 2 mm mesh. The entire crushed sample is riffle split and weighed into multiple (300-500g) jars that are submitted for photon assay. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, causing them to emit secondary gamma rays, which are measured to identify and quantify the metals present. The assays from all jars are combined on a weight-averaged basis. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric, and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.
For more information, please contact:
Dan Stuart
President, Director and Chief Executive Officer
Tel: (604)-559-8028
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING STATEMENT
Certain disclosure in this release may constitute forward-looking statements that are subject to numerous risks and uncertainties relating to Juggernaut's operations that may cause future results to differ materially from those expressed or implied by those forward-looking statements, including its ability to complete the contemplated private placement. Readers are cautioned not to place undue reliance on these statements.
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.
Copyright (c) 2025 TheNewswire - All rights reserved.
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NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC TheNewswire - July 22, 2025 Heritage Mining Ltd. (CSE: HML FRA: Y66) (" Heritage " or the " Company ") is pleased to announce a non-brokered offering of up to 18,187,725 units (the " LIFE Offering ") for gross proceeds of up to C$636,570 with a lead order from a strategic investor of ~C$450,000. The Company is also pleased to announce it has entered into an asset purchase agreement with Advanced Gold Exploration Inc. to acquire a 75% interest in the Melba Mine (a former past producer from early-mid 1900's) which, subject to the satisfaction of conditions precedent and due diligence, will facilitate the Company's entrance into the Kirkland Lake Gold District. The Company also provides an exploration update on its Drayton-Black Lake and Contact Bay projects.
July 2025 Corporate Update Highlights
LIFE Offering announced with a lead order from a strategic investor totaling ~C$450,000.
Heritage enters the Kirkland Lake Camp via its purchase of a 75% interest in the Melba Mine, pending satisfaction of conditions precedent including technical due diligence and site visit (Figure 1). Highlights of the Melba Mine project include:
In 1936, Melba Gold Mines Limited drilled 20 diamond holes that intersected the Blue Vein with visible gold reported in 10 of the first 18 holes (Assessment Diamond Drilling Report, May 15, 2023).
In 1939, The Teck-Hughes Mines Limited channeled and took a 4-ton bulk sample over 60 feet on the Blue Vein. The channel sample gave 10.327 ounces gold per ton over 4.5 feet and the bulk sample gave 0.210 ounces gold per ton (Assessment Diamond Drilling Report, May 15, 2023).
2,000 tonnes of "mined material" from underground workings that are on surface and with a complementing mining lease (Assessment Diamond Drilling Report, May 15, 2023).
July 2025 Exploration Update Highlights
Drilling at Drayton-Black Lake (" DBL ") – Zone 3 Extension confirms gold mineralization in a broad quartz vein structure as initially reported in Heritage's press release dated May 15, 2025.
DBL – Zone 3 Extension drilling intersected multiple zones of locally anomalous gold mineralization in drill hole HML25-011 associated with a 46m wide quartz zone, including 0.95 g/t Au over 1m from 237.00m; and
Zone 3 Extension drill hole HML25-012 tested a different magnetic lineament at the periphery at the Lake of the Bays Batholith and the contact zone of this batholithic body. Two n arrow zones of up to 0.43 g/t Au over 1m were intersected.
Drilling at Contact Bay is completed. A total of 10 holes for 2,726m were drilled with assays pending.
Drill holes locally intersected narrow quartz sulfide veins and visible gold was observed on one drill hole RGN25-004 (Figure 4).
"We are pleased to welcome a new strategic shareholder, who aligns with Heritage's view that systematic active exploration across all properties is the key driver. We look forward to generating value to all stakeholders.
The proposed Melba Mine acquisition (pending due diligence) offers the Company exposure to the well-known mining camp (Kirkland Lake and Timmins). We look forward to applying our active systemic exploration approach to this area in short order post-acquisition.
Although assays remain pending from Zone 3 Extension at DBL and Contact Bay we appreciate the technical success and confirmation of anomalous gold in a new area never before prospected in the Sioux Lookout Area. This is the broadest quartz vein ever intersected within the Sioux Lookout District and warrants further drilling and evaluation along strike." Commented Peter Schloo, President CEO, and Director of Heritage
2025 Corporate Update
The Company has concurrently filed an offering document in respect of the LIFE Offering (the " Offering Document ") on its profile on SEDAR+. The following is a brief summary of the terms of the LIFE Offering but investors should review the Offering Document in detail prior to making an investment decision:
Offering:
A non- brokered "best-efforts basis" private placement financing of up to 18,187,725 units (the " LIFE Offering ") for gross proceeds of up to $635,570 for units of the Company (each, a " Unit ") at a price of $0.035 per Unit, with each Unit being comprised of one (1) common share of the Company (each a " Common Share ") and one (1) common share purchase warrant (a " Warrant ") granting the holder the right to purchase one (1) additional Common Share of the Company (a " Warrant Share ") at a price of $0.05 at any time on or before 36 months from the Closing Date (as defined herein), which securities shall be offered pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 ").
Offering Price:
The Offered Securities shall be offered at the price of $0.035 per Unit.
Offering Amount:
The maximum offering amount under the LIFE Offering shall be for aggregate proceeds of $636,570, assuming full subscription pursuant to the LIFE Offering and the full exercise of the Broker's Units (as defined below). There is no minimum offering amount pursuant to the LIFE Offering .
The maximum number of securities issuable under the LIFE Offering consists of an aggregate of up to 18,187,725 Units for gross proceeds of up to $636,570.
Closing Date: The closing of the LIFE Offering (the " Closing Date ") is expected to take place on or about July 31, 2025.
Fees and Commissions
Cash fee and broker warrants, as detailed below.
Cash Fee: The Company will pay cash fees equal to 7.0% of gross proceeds raised in respect of the Offering.
Broker Units: The Company will issue broker units (each a " Broker Unit ") equal to 7% of the Units sold under the Offering at an exercise price equal to $0.035 per Broker Unit, with each Broker Unit consisting of one (1) Common Share and one (1) Broker Warrant, with each Broker Warrant granting the holder the right to purchase one (1) additional Common Share of the Company (each, a " Warrant Share ").
Melba Asset Purchase Agreement Summary:
The consideration payable by Heritage to the Vendor for the 75% ownership interest in the Melba Mine shall be C$40,000 payable in cash to the Vendor for technical services over a 8 month period payable in equal C$5,000 monthly instalments, with the first instalment payable on the Closing Date (the Cash Consideration "). Heritage also agrees to pay the Vendor the Consideration Shares (as defined below)(the Cash Consideration and the Consideration Shares collectively being the " Purchase Price ").
In addition to the Cash Consideration and the Consideration Share (as defined below), Heritage will pay to the Vender a deposit of C$5,000 on signing of the Purchase Agreement and an additional C$5,000 within 30 days from signing of the Purchase Agreement.
Heritage shall issue the Vendor Common Shares having a deemed value of C$350,000 Consideration Shares ") at a price per Consideration Share equal to the closing price of the Common Shares in the capital of Heritage on the trading day preceding the Closing Date and subject to the following release schedule (which the Vendor hereby agrees will be reflected in restrictive legends applied to the certificates representing the Consideration Shares):
(a) 25% of the Consideration Shares released on Closing Date;
(b) 25% of the Consideration Shares released on the date that is 90 days after the Closing Date;
(c) 25% of the Consideration Shares released on the date that is 180 days after the Closing Date; and
(d) 25% of the Consideration Shares released on the date that is 270 days after the Closing Date.
Closing of the acquisition is subject to customary conditions precedent for a transaction of this nature, including 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 spanning 1,522.70 hectares and one mining lease.
Property Geology
The governing element of structure appears to be a contact between dioritic greenstone to the south and argillaceous greywacke to the north. The contact trends north 50-60 degrees west and dips northward. Whether the greywacke is part of a synclinal trough of sediments that are younger than the greenstone or whether it is part of a sedimentary band belonging to the greenstone series is an unknown factor at present. The greywacke is cut by dikes of porphyry that run parallel to the contact. The main gold bearing vein, usually described as the "Blue Vein", also runs parallel to the contact but lies within the sediments. It strikes north 55 degrees west and dips northward 55 degrees. It is accompanied by shearing and alteration, also by a pattern of cross fracturing that has produced faulting in the main vein and has led to the development of irregular veins in the adjacent rocks. The main vein is displaced 60 feet (18.2 metres) northward near the shaft and other displacements have been found underground. The picture resembles that of the sedimentary belt in the Beatty-Munro area. Numerous feldspar porphyry, diorite and basic syenite dikes were intersected by the drilling. Overall, a significant amount of the drill core showed alteration, some highly, while carbonate stringers were numerous and visible gold was noted in drill core.
Click Image To View Full Size
Figure 1: Property Map – Melba Mine
2025 Exploration Update
Assays were delayed due to operational issues at the lab and core shack facilities; corrective measures have been implemented, and normal operations are expected to resume shortly.
Discussion of Results
DBL – Zone 3 Extension
The 2025 drill program at Zone 3 Extension targeted granite-hosted mineralised quartz-vein structures that were first observed in the HML Zone 3 drilling program of August 2024 (Figure 3). The recently completed program comprised 4 holes for a total 1105.5m targeting a northeast-southwest trending magnetic lineament. Drilling is considered a technical success with two ( HML25-011 and 013 ) of the four holes intersecting a well-developed quartz vein structure, including drill hole HML25-013 that intersected a 74m wide vein structure (true width unknown). Assays received for HML25-010, 011 and 012, with assays pending for HML25-013 & 014.
Assays for HML25-010 & 011 confirm locally elevated gold values in the vein structure, with the best intersection of 0.95g/t gold over 1 meter in drill hole HML25-011 (Figure 2). Although gold mineralization is low grade, significant exploration potential remains along strike of this well-defined linear mag feature, and further drilling is proposed to test this "mega-quartz vein structure".
HML25-011 Highlights:
0.07 g/t Au over 5.5m from 212.50m to 217.00m
Including 0.27g/t Au from 213.47m
0.95 g/t Au over 1m from 237.00m (within Quartz Vein Zone)
Click Image To View Full Size
Figure 2: HML25-011 Box 56 – Yellow Box indicates from 237.00m to 238.00m
Click Image To View Full Size
Figure 3: Showing the completed and proposed holes testing the northeast-southwest trending magnetic lineament
Contact Bay Rognon Mine Area
The 2025 drill program at Contact Bay is completed, targeting a mineralised quartz-vein structure that was historically mined in the early 1900's. The recently completed program comprised 10 holes for a total 2726.0m. The geology comprises metavolcanic rocks cut by granitoid batholiths and gabbroic sills and stocks. The metavolcanic rocks are locally cut by cm-scale quartz-sulphide veins and drill hole RGN25-004 intersected visible gold in a quartz-pyrite vein (Figure 4). Assays are pending for all holes.
Click Image To View Full Size
Figure 4: Showing the magnetic map for the Contact Bay Rognon Mine area and an image of the visible gold intersected in RGN25-004.
Conclusion
Although some assays remain pending, the Company believes additional drilling is warranted to test along this major quartz vein structure along strike. The Company has proposed an additional 10 holes to test along a 2km strike length of the magnetic lineament (Figure 3).
Qualified Person
Stephen Hughes P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
Technical Program
Heritage Mining adheres to a strict QA/QC protocol for handling, sampling, sample transportation and analyses. Chain-of-custody protocols are designed to ensure security of samples until their delivery at the laboratory.
Sampling, Sub-sampling, and Laboratory Analysis for Heritage Mining Drayton Black Lake Project All drilling at the Drayton Black Lake project recovers NQ core. Drill core is systematically split in half using a diamond saw. A qualified geologist examines the drill core, marking intervals for sampling and indicating the cutting line. Sample lengths are typically 1.0 metre, adjusted to a minimum length of 0.5 metre as necessary to respect lithological and/or mineralogical contacts and to isolate narrow veins or structures that may contain higher-grade mineralization.
Technicians saw the core along the cutting lines determined by the geologist. One half of the core is retained as a witness sample, while the other half is submitted for analysis. Individual sample bags are securely sealed and placed into sealed bags, which are then clearly marked with their contents.
Heritage Mining submits samples for gold determination by PhotonAssay to ALS Canada Ltd. (" ALS "). ALS operates under a commercial contract with Heritage Mining.
Drill core samples are shipped to ALS for sample preparation at their facilities in Thunderbay Ontario. ALS is an ISO/IEC 17025:2017 accredited laboratory for the PhotonAssay method in addition to a variety of diverse metal determination methods.
Analytical Procedures
The ALS procedure for PhotonAssay involves lab applying preparation codes LOG-21 (sample logging via barcode), CRU-31 (fine crushing so that 70% passes through a 2mm screen) and SPL-32a (rotary splitting of a representative ~500g subsample) followed by analytical code Au-PA01 which is a non-destructive gold analysis method using high-energy X-rays with a gold detection range from 0.03 ppm to 350ppm.
After gold assays are returned, Heritage then may choose to perform multi-element assays on selected samples based on the gold results. In these cases, sample preparation codes FND-05 (locate and use remaining crushed material from Au-PA01) and PUL-32m (pulverization so that >85% passes 75 µm screen) are then applied followed by analytical code ME-MS61 (multi-element ICP-MS analysis for base metals, pathfinder elements, lithophile elements and rare earth elements).
________________________________________
Quality Assurance/Quality Control (QA/QC)
The drill program design, QA/QC, and interpretation of results are performed by qualified persons employing a rigorous QA/QC program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples, in addition to the laboratories' internal quality assurance programs.
Quality Control data are meticulously evaluated upon receipt from the laboratories for any failures. Appropriate corrective action is taken if assay results for standards and blanks fall outside allowed tolerances. All results disclosed by Heritage Mining have successfully passed the Company's stringent quality control protocols.
The Company does not recognize any factors of drilling, sampling, or recovery that could materially affect the accuracy or reliability of the assay data disclosed. The assay data disclosed in this press release have been verified by the Company's Qualified Person against the original assay certificates.
Heritage Mining notes that it has not completed any economic evaluations of its Drayton-Black Lake Project, and the project does not currently have any resources or reserves.
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.
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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July 23 rd
| Eastern Time (ET) | Presentation | Ticker(s) |
| 9:30 AM ET | Andean Silver Ltd. | (OTCQX: ADSLF | ASX: ASL) |
| 10:00 AM ET | G50 Corp. Limited | (OTCQB: GFTYF | ASX: G50) |
| 10:30 AM ET | Silver Tiger Metals Inc. | (OTCQX: SLVTF | TSXV: SLVR) |
| 11:00 AM ET | Viva Gold Corp. | (OTCQB: VAUCF | TSXV: VAU) |
| 11:30 AM ET | Liberty Gold Corp. | (OTCQX: LGDTF | TSX: LGD) |
| 12:00 PM ET | UR-Energy Inc. | (NYSE American: URG | TSX: URE) |
| 12:30 PM ET | Arizona Sonoran Copper Company | (OTCQX: ASCUF | TSX: ASCU) |
| 1:00 PM ET | Northisle Copper & Gold Inc. | (OTCQX: NTCPF | TSXV: NCX) |
| 1:30 PM ET | Element79 Gold Corp. | (OTCQB: ELMGF | CSE: ELEM) |
| 2:00 PM ET | Rackla Metals Inc. | (TSXV: RAK) |
July 24 th
| Eastern Time (ET) | Presentation | Ticker(s) |
| 11:00 AM ET | Heliostar Metals Ltd. | (OTCQX: HSTXF | TSXV: HSTR) |
| 11:30 AM ET | Camino Minerals Corp | (OTCID: CAMZF | TSXV: COR) |
| 12:00 PM ET | West Red Lake Gold Mines | (OTCQB: WRLGF | TSXV: WRLG) |
| 12:30 PM ET | Silver47 Exploration Corp. | (OTCQB: AAGAF | TSXV: AGA,OTC:AAGAF) |
| 1:30 PM ET | Axcap Ventures Inc. | (OTCID: GARLF | CSE: AXCP) |
| 2:00 PM ET | AbraSilver Resource Corp. | (OTCQX: ABBRF | TSX: ABRA) |
| 2:30 PM ET | Myriad Uranium Corp. | (OTCQB: MYRUF | CSE: M) |
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