Heritage Mining Expands Melba Project and Appoints New CFO

TORONTO, ON – August 18, 2026 – Leads & Copy – Heritage Mining Ltd. (CSE: HML | FRA: Y66) announced today significant expansion of its Melba Project through three new agreements and the appointment of Tara Gilfillan as Chief Financial Officer. The Melba Project is located approximately 22 kilometers northeast of Kirkland Lake and 90 kilometers southeast of Timmins in Northeastern Ontario, Canada.

Gilfillan’s appointment aims to strengthen the company's financial discipline, capital allocation, and operational execution. She brings extensive experience from the mining sector, having founded and led mining-focused engineering and advisory firms, including Optimize Group Inc., where she serves as Executive Chair. Gilfillan is a Chartered Professional Accountant (CPA, CA), holds a Bachelor of Commerce in Accounting and Finance from Queen's University, and possesses the ICD.D designation. She currently serves as a director and Chair of the Audit Committee of Heliostar Metals Ltd. and has previously held similar roles at other publicly listed mining companies and served as board chair for two TSX-V exploration companies.

The company has expanded its land package at the Melba Project through several transactions. Under an option agreement dated August 11, 2026, Heritage has secured the option to acquire a 100% interest in forty-two unpatented mining claims in the Melba North area. This option was secured for an initial cash payment of $6,000 and the issuance of 2,000,000 common shares, with 1,000,000 shares issued and the remainder to be issued on the second anniversary of the agreement. The optionors will retain a 1.5% net smelter returns (NSR) royalty, with a 0.5% portion available for repurchase by the company for $600,000.

Additionally, Heritage has acquired three mining claims in the Melba area through a purchase agreement dated August 11, 2026. The consideration for this acquisition was the issuance of 600,000 common shares at a deemed price of $0.025 per share. The vendors will retain a 1.5% NSR royalty, of which 0.5% can be repurchased for $500,000.

A further acquisition, detailed in a purchase agreement dated August 12, 2026, involved thirty-two mining claims and a 75% interest in Mining Lease 109680 in the Melba area. This was completed through the issuance of 500,000 common shares. The vendors will retain a 2.0% NSR royalty, with a 1.0% portion eligible for repurchase by Heritage for $500,000.

The company also announced the issuance of 3,015,645 common shares to Advanced Gold Exploration Inc. as part of a previously announced purchase agreement. Furthermore, Heritage Mining Ltd. has settled $272,104.46 in outstanding indebtedness to twelve creditors through the issuance of 12,368,380 common shares at a deemed price of $0.022 per share. This debt settlement was undertaken to preserve cash for exploration and working capital. Several directors and an incoming officer participated in this debt settlement, constituting a related party transaction for which exemptions from formal valuation and minority shareholder approval requirements were relied upon.

The company also announced the resignation of Rachel Chae as Chief Financial Officer, effective August 14, 2026, and thanked her for her service. All issued common shares are subject to a statutory four-month-and-one-day hold period, expiring December 14, 2026.

The Melba Project is situated near the Ross Fault, a splay off the Porcupine-Destor Fault Zone, an area known for development-stage and historic producing gold mines, including the McEwen Mine and the Ross Mine. Heritage Mining Ltd. is a Canadian mineral exploration company focused on its Ontario Project Portfolio.

Source: Heritage Mining Ltd.