Heritage Mining Ltd. Announces Private Placement of Flow-Through Shares to Fund Exploration
VANCOUVER, BC, October 16, 2026 — Leads & Copy — Heritage Mining Ltd. (CSE:HML) (FRA:Y66) has announced a non-brokered private placement to raise up to $790,000 through the issuance of flow-through shares. The offering will involve the sale of up to 19,750,000 flow-through shares at a price of $0.04 per share.
The proceeds from the sale of these shares will be designated for incurring eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures, as defined by the Income Tax Act (Canada). These expenditures are related to the company’s projects located in Ontario, Canada. Heritage Mining plans to incur these qualifying expenditures by December 31, 2027, or potentially a later date permissible under tax legislation, and intends to allocate these expenditures to the subscribers of the flow-through shares effective December 31, 2026.
The closing of this private placement is anticipated to occur on or before October 23, 2026, pending all necessary customary approvals. The funds raised are earmarked for the company’s upcoming exploration activities at its mineral property portfolio, with a particular focus on the Melba project, building on recent exploration successes.
Securities issued under this offering will be subject to a four-month hold period in compliance with applicable securities laws. In connection with the offering, Heritage Mining may engage eligible finders and compensate them through cash commissions and/or finder’s warrants, adhering to the rules set by the CSE.
Heritage Mining Ltd. is a Canadian mineral exploration company actively developing its Ontario Project Portfolio across Northwestern and Northeastern Ontario. Its Drayton-Black Lake, Contact Bay, and Scattergood projects are situated near Sioux Lookout within the underexplored Eagle-Wabigoon-Manitou Greenstone Belt. The Melba Property is located near Ramore, Ontario. These projects are supported by extensive historical data, accessible sites, and logistical assistance from local communities.
Source: Heritage Mining Ltd.
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