Well positioned for further success

 Heritage Mining (WKN A3DTM6 / CSE HML), has exercised its option to acquire a 51% interest in the Drayton Black Lake Project in northwestern Ontario, Canada. The project covers a total area of approximately 18,907 hectares and was previously wholly owned by Stillwater Critical Minerals.

The option agreement between Stillwater Critical Minerals and Heritage Mining, which was amended twice, stipulated that Heritage had to provide certain exploration services in order to acquire a 51% interest in the Drayton Black Lake project.

In order to fully comply with the option terms, Heritage Mining has now made the last necessary exploration expenditures of one million Canadian dollars (CAD). An additional 4,100,000 common shares of Heritage Mining were transferred to Stillwater. In addition, Stillwater received 3,000,000 warrants, each warrant entitling Stillwater to purchase an additional Heritage common share at a price of CAD 0.10 per share until January 17, 2028.

In the long term, Heritage has the opportunity and the intention to further increase its interest in the Drayton Black Lake project. To this end, the company has the option to increase its interest to 90% if a further C$5,000,000 in qualifying expenditures for the development of the project is incurred by November 25, 2026. The CAD 5,000,000 includes the CAD 2,500,000 already paid in connection with the exercise of the option to acquire the majority interest of 51%. In addition, a further 1,100,000 Heritage common shares are to be transferred to Stillwater.

Further increase of the investment is sought

With this acquisition, Heritage Mining not only secures a majority interest in the Drayton Black Lake project but also positions itself as the leading company exploring one of the last underexplored gold belts in northwestern Ontario. With a solid portfolio, a clear vision for growth and the financial strength to implement its ambitious plans, Heritage Mining is well positioned to achieve further success at Drayton Black Lake.

The company has made a very good start to 2025 and, with Heritage Mining also well financed by the recent capital measures, the priority targets can now be explored in more detail with drilling.

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The acquisition of securities involves high risks, which can lead to a total loss of the invested capital. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research. Nevertheless, any liability for financial losses or the content guarantee for topicality, correctness, adequacy and completeness of the articles offered here is expressly excluded. Please also note our terms of use.

According to §34b WpHG and § 48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH hold shares of Heritage Mining Ltd. and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of Heritage Mining Ltd. at any time, which could influence the price of the shares. In addition, there is a consulting or other service contract between Heritage Mining Ltd. and GOLDINVEST Consulting GmbH, with which a further conflict of interest exists, since Heritage Mining Ltd. remunerates GOLDINVEST Consulting GmbH for reporting.

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