VANCOUVER, BC – TheNewswire - November 15, 2022 – Heritage Mining Ltd. (CSE:HML) ("Heritage" or the "Company") is pleased to report the addition of John Seaman as advisor to the Company.
Mr. Seaman is an accomplished executive with more than 22 years of experience in the mining industry from exploration through development and production.
Mr. Seaman has significant
corporate and transactional experience in relation to gold projects in Ontario as a former Director of Premier Gold Mines which was acquired by Equinox Gold Corp. in a C$612M all stock deal in early 2021.
Mr. Seaman is currently a Director of I-80 Gold Corp., a leading Canadian gold company in Nevada with a market capitalization of ~C$705m, where he chairs the audit committee and also sits on the compensation committee. In addition, he serves currently or in the past, as an independent director of various small-cap companies. Mr. Seaman has served as the CFO of Premier Gold Mines from 2006-2012, Director from 2006 to 2012 and lead Director from 2012 to 2021, CFO of Pediment Goldcorp (2007-2011) and Director and CFO of Wolfden Resources Inc. until all three were acquired. Mr. Seaman is an ICD.D member of the Institute of Corporate Directors.
Peter Schloo, CPA, CA, CFA, CEO of Heritage Mining commented, “We are very excited to have John on as an advisor to Heritage. John brings a wealth of experience via growth and value creation, what Heritage Mining Ltd. is building. Previously, We were delighted to have John as an early investor in Heritage Mining back in August 2020. Since then, there has been consistent support for the Company from John along our various milestones, a testament to the quality of our shareholder base. Welcome aboard John!”
The Drayton-Black Lake Project is located near the town of Sioux Lookout in Northern Ontario and comprises more than 15,000 Ha within the Eagle-Wabigoon-Manitou (“EWM”) Greenstone Belt along strike of and contiguous with Treasury Metals Inc.’s Goliath Gold-Silver Complex. There are numerous historic high-grade gold (silver, copper) prospects throughout the property within the Central Volcanic domain. All set within a broad multi-kilometer regional-scale deformation corridor with associated secondary and tertiary structural elements. Mineralization is typically shear-hosted quartz-carbonate veins with minor sulphides (1-5%). Locally, mineralized massive sulphide (Py +/- Cpy) occurrences have been documented. Some of the more sulphide rich Au + Au-Ag occurrences in the Southern Sedimentary domain have been notionally reclassified (e.g., Treasury Metal Goliath Deposit) as a hybrid or pre-orogenic atypical greenstone gold (POAGG).
Heritage employs a rigorous quality management system for field sampling and analysis. All samples and sample sites are described, photographed and geo-referenced and digitally archived at the time of sample collection. Material is securely bagged at the sample site and returned to the field office for secure storage. Sampled are delivered by Company personnel to the ALS laboratory in Thunder Bay, Ontario for prep. Samples are crushed (min. 1 kg) and pulverized (250 g; PREP-31A). Au values are determined by 50 g fire assay (Au-AA24), overlimit (Au) are treated with a gravimetric finish (Au-GRA22) and overlimit Ag are treated with acid digestion and ICP/FA finish (Ag-OG62). Multi-element analysis is provided by ICP-MS (ME-MS61). Blind duplicates, blanks and CRM (Certified Reference Materials) are inserted on a regular basis and pulps and rejects are retained for check and duplicate analysis.
Scientific and technical information contained in this press release has been prepared under the supervision of Stephen Hughes, P. Geo. Technical Advisor to HML, a qualified person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Sampling protocols, quality control and assurance measures and geochemical results related to historic results quoted in this news release (e.g., sampling, drilling, trenching and other data) have not been verified by the Qualified Person and therefore must be regarded as estimates.
The Corporation 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 Corporation is well capitalized, with a tight capital structure.
For further information, please contact:
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
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 Heritage Mining Ltd. (“Heritage” or the “Corporation”). 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 Corporation 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 Corporation will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Corporation’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 Corporation’s projects; risks related to global pandemics and other risks related to the mining industry. The Corporation 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 Corporation 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 Corporation 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 Corporation 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 Corporation and prospective investors.
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