Slide 1: Investor Presentation Q1 '22
Investor Presentation Q1 ‘22
Slide 2: Legal Disclaimer
Legal Disclaimer This presentation includes certain statements that may be deemed "forward looking statements". All statements in this presentation, other than statements of historical facts, that address events or developments that Heritage Mining Ltd. (the "Company“) expects to occur, are forward
Slide 3: Overview
Overview Flagship Project with four mineralized zones with each showing +1Moz Au deposit potential Undervalued: Pre-money ~C$4M with Top Tier: Land Package, Management Team, Capital Summary Structure and Cash Position Environmentally and Socially conscious, excellent access and infrastructure
Slide 4: Black Lake – Drayton - Region
Black Lake – Drayton - Region Archean Greenstone Gold Belts STRICTLY PRIVATE AND CONFIDENTIAL H E R I T A G E M I N I N G 4
Slide 5: Black Lake – Drayton – Option Agreement
Black Lake – Drayton – Option Agreement Project Overview ADVANCED STAGE GOLD AND COPPER PROJECT 13,733Ha land package within the Active Rainy River -Dryden-Sioux Lookout District Property adjoins Treasury Metals’ Goliath Gold Complex (Goliath, Goldlund and Miller Projects) Archean greenstone b
Slide 6: Black Lake – Drayton - Exploration History
Black Lake – Drayton - Exploration History Rio Tinto, Wright-Hargreaves, Teck, Placer Dome, Cameco Year Operators Summary • Alcona Gold Mines Ltd • Recovery • Alkenore Buffalo Gold Mines Ltd • Mapping 1930-1950 • Abbot Red Lake Mines Ltd • Drilling • Auralee Gold Mines • Geophysical • Coniagas Mines
Slide 7: Black Lake – Drayton - Area
Black Lake – Drayton - Area Located in a Mature Gold Mining District with Excellent infrastructure Four Mineralized Structural Zones: Priority Targets (Gold and Black Lake – Drayton Project Base Metals) 1 1 Moretti Zone 2 3 4 2 Split Lake Zone 3 Shaft Zone 4 West Zone All targets show early signs of
Slide 8: Black Lake – Drayton Project Area
Black Lake – Drayton Project Area Four Priority and Drill Ready Precious & Base Metal Structural Zones Large Land Package 13,733Ha Proximity to +1Moz Deposits 1 Excellent Infrastructure Four Mineralized Zones High Grade Gold & Copper 1 1. MORETTI ZONE • 10-30m wide structural zone 2 • Over
Slide 9: Four Mineralized Structural Zones
Four Mineralized Structural Zones 1. Moretti Zone Area Multiple trench Moretti Zone Area samples over 10 g/t Au, plus grab sample (Moretti – Belekeno - Bonanza) over 566 g/t Au Grab Samples up to 1,212 Rocks g/t Au in quartz-tourmaline veins/stockwork Historic bulk samples of 8,062kg @ 14.01 g/t Au
Slide 10: Four Mineralized Structural Zones – Moretti Zone
Four Mineralized Structural Zones 1. Moretti Zone – Moretti Moretti ~ 8000 kg Bulk Sample Area , Vein Material assayed 14.01 g/t STRICTLY PRIVATE AND CONFIDENTIAL H E R I T A G E M I N I N G 10
Slide 11: Four Mineralized Structural Zones – Split Lake Zone
Four Mineralized Structural Zones 2. Split Lake Zone 1937: 2. Split Lake Zone (Split Shaft – 2 Compartments – Vertical Shaft Lake - Alkenore Buffalo) – 3 levels (30m, 69m and 107m) Surface trenches (3) and drilling provided similar assays up to 0.20 opt Lode Gold & Base Au (Peak = 0.68opt Au) Target
Slide 12: Four Fertile Structural Zones
Four Fertile Structural Zones 2. Split Lake Zone: Split Lake Area Photo Library 2021 1937: Shaft – 2 Compartments – Vertical Shaft – 3 levels STRICTLY PRIVATE AND CONFIDENTIAL H E R I T A G E M I N I N G 12
Slide 13: Four Mineralized Structural Zones – Shaft and West Zones
Four Mineralized Structural Zones Shaft Area Maps Shaft 1: 2m avg Shaft Zone (Shaft 1 – FP61 – Wright 14.5g/t Au Hargraves) Grab samples exceeding 1 Rocks oz Au/T (34.28 g Au/t) from muck pile. 3 interesting values from Channels Ontario Prospector Assistance Program Shaft Zone West Zone (Foster – Ww
Slide 14: Four Mineralized Structural Zones – Shaft Zone Photos
Four Mineralized Structural Zones 3. Shaft Zone: McCombe FP61 Photo Library 2021 Heritage Due Diligence visit – McCombe/FP61 Discarded Core (Left) Trench 2 & Channel (Right) STRICTLY PRIVATE AND CONFIDENTIAL H E R I T A G E M I N I N G 14
Slide 15: Environmental & Social Governance
Environmental & Social Governance Black Lake – Drayton project Green Project Characteristics • Precious and base metals to fuel a green • Close proximity to skilled labour and established supply route minimizes economy starting at the source overall environmental impact from a supply chain perspecti
Slide 16: Exploration Budget and Timeline
Exploration Budget and Timeline Black Lake Drayton Proposed work program Budget (C$) 2021 2022 2023 2024 Data Base Consolidation 18,000 Initiated First Nation Relations 24,000 Airborne EM & Mag 540,000 Initiated Ground EM, Mag & I.P. (including line- 300,000 cutting) Geological Evaluations (Prospect
Slide 17: Black Lake – Drayton – Option Agreement
Black Lake – Drayton – Option Agreement Option Agreement Terms Payments (C$) Shares Project Spend (C$) Option % Black Lake – Drayton (Binding LOI Deposit, 60 Day $20,000 Exclusivity) Definitive Agreement Signed IPO/Go Public Transaction* 2,800,000 First Anniversary $150,000 1,100,000 $500,000 Second
Slide 18: Contact Bay Project
Contact Bay Project Heritage Mining regional aggregation optioned to own 100% Heritage Mining in the process of consolidating ~4,700Ha within the Contact Bay Area. EXPLORATION STAGE GOLD AND BASE METAL PROJECT ~4,700 Ha land package within the active Contact Bay area Property adjoins KG Explorat
Slide 19: Contact Bay Project
Contact Bay Project Production between 1916 and 1918 was 22.2 ounces of gold and 0.5 ounces of silver from 49 tons milled. Development is reported to be a shaft 106 ft deep with 307 ft of lateral development on two levels, including a raise to surface from the first (50 ft) level. KG Exploration (Ki
Slide 20: Exploration Budget and Timeline
Exploration Budget and Timeline Contact Bay Proposed work program Budget (C$) 2021 2022 2023 2024 Data Base Consolidation 12,000 Initiated First Nation Relations 12,000 Initiated Initiated Airborne EM & Mag 180,000 Ground EM, Mag & I.P. (including line- 180,000 cutting) Geological Evaluations (Prosp
Slide 21: BOD, Management & Technical Team
BOD, Management & Technical Team Patrick Mohan Peter Schloo, CPA, CA, CFA Chair & Director Director & CEO Mr. Mohan previously occupied the position of President, Director of Pacific Empire Minerals Corp., Previously CFO CEO, Director & Head-Investor Relations at Kitrinor Metals, of Spirit Banner Ca
Slide 22: External Strategic Advisors
External Strategic Advisors Jeremy Okolisan P.Eng Dave Frost Mr. Okolisan has over 20 years of experience in the mining Mr. Frost has 28 years in on all facets of minerals industry, as Vice President Business Development for the processing. 15 years spent in production and the last 13 Americas Minin
Slide 23: Company Snapshot
Company Snapshot Shareholder Information Corporate Information Management, Directors Shares Issued and Outstanding 15.64 and Consultants, 22% Warrants* 7.61 Retail, 58% Options** 1.07 Fully Diluted 24.32 Cash on hand*** ~C$850K Institutional, 19% * **1,065,000 options outstanding with an exercise pr
Slide 24: Capital Raise
Capital Raise Raise Information and Capital Structure C$648k Total Expenditure C$10M Use of Proceeds Use of Proceeds Use of Proceeds C$000 C$M (Funds Raised to Date) (Current Raise) G&A 5 Exploration Program 7.50 Asset Securitization & Due Diligence 0.50 425 Asset Securitization 1.00 Development Leg
Slide 25: Contact
CONTACT Peter Schloo President, CEO & Director peter@heritagemining.ca 905.505.0918 STRICTLY PRIVATE AND CONFIDENTIAL H E R I T A G E M I N I N G 25
Slide 26: Appendix A: Till Sampling 2018-2021
Appendix A Till Sampling 2018-2021 Till sampling an effective exploration tool due to pervasive shallow ground cover Rainy River discovery driven by till sampling programs using the same method and lab Program • Total of 60 till samples collected 2018 • Till sample locations targeted magnetic high/e
Slide 27: Appendix B: Claim Ownership & Obligations
Appendix B Claim Ownership & Obligations Claim Ownership Royalty Interests Royalty Interests Ownership 100% Group Ten (Royalty-Free) NSR, with buy-down Black Lake–Drayton (100% Group Ten) NSR, with buy-down BLACK LAKE NSR, with buy-down Infrastructure Main Roads Infrastructure Railroad Main Roads Ra
Slide 28: Appendix C: Capital Raise Supporting Analysis – Comparable Analysis
Appendix C Capital Raise Supporting Analysis – Comparable Analysis stock price capital raised to average volume enterprise value cash & equivalents (previous close) shares outstanding float (%) market cap (C$M) project size date (3M daily) (C$M) (C$000) Development Stage November 9th DEV_STAGE 2021
Slide 29: Appendix C: Capital Raise Supporting Analysis – Comparable Analysis
Appendix C Capital Raise Supporting Analysis – Comparable Analysis stock price capital raised to average volume enterprise value cash & equivalents (previous close) shares outstanding float (%) market cap (C$M) project size date (3M daily) (C$M) (C$000) Property Name Operator Name Development Stage
Slide 30: Appendix D: Four Mineralized Structural Zones
Appendix D: Four Mineralized Structural Zones Significant Precious and Base Metal Potential Targets Zone Summary Rocks Grab Samples up to 1,212 g/t Au in quartz-tourmaline veins/stockwork 1. Moretti Zone Multiple trench samples over 10 g/t Au, grabs over 566 g/t Au and 35.2 g/t and 8.72% Cu from Cha
Slide 31: Moretti Zone – Bonanza Area
Appendix D: Four Mineralized Structural Zones 1. Moretti Zone – Bonanza Area Historical samples up to 134.4 g/t and 6% Cu STRICTLY PRIVATE AND CONFIDENTIAL H E R I T A G E M I N I N G 31
Slide 32: Moretti Zone – Drag Fold-Emerald Area
Appendix D: Four Mineralized Structural Zones 1. Moretti Zone – Drag Fold-Emerald Area Historical samples up to 80 g/t STRICTLY PRIVATE AND CONFIDENTIAL H E R I T A G E M I N I N G 32
Slide 33: Split Lake Zone Photo Library
Appendix D: Four Mineralized Structural Zones 2. Split Lake Zone: Split Lake Area Photo Library 2021 Split Lake Dump Area September 2021 STRICTLY PRIVATE AND CONFIDENTIAL H E R I T A G E M I N I N G 33
Slide 34: Split Lake Zone Photo Library
Appendix D: Four Mineralized Structural Zones 2. Split Lake Zone: Split Lake Area Photo Library 2021 Split Lake Area September 2021 – Blast Rock STRICTLY PRIVATE AND CONFIDENTIAL H E R I T A G E M I N I N G 34
Slide 35: Shaft Zone Photo Library
Appendix D: Four Mineralized Structural Zones 3. Shaft Zone: Shaft Area Photo Library 2021 Heritage Due Diligence visit – Shaft 1 Area STRICTLY PRIVATE AND CONFIDENTIAL H E R I T A G E M I N I N G 35
Slide 36: Shaft Zone Photo Library
Appendix D: Four Mineralized Structural Zones 3. Shaft Zone: Shaft Area Photo Library 2006 – Shaft 2 Area STRICTLY PRIVATE AND CONFIDENTIAL H E R I T A G E M I N I N G 36
Slide 37: Shaft Zone Photo Library
Appendix D: Four Mineralized Structural Zones 3. Shaft Zone: Shaft Area Photo Library 2006 – DDH – 5.4 g/t Au 2006 – DDH – 7.4 g/t Au DT06 Trench West Looking STRICTLY PRIVATE AND CONFIDENTIAL H E R I T A G E M I N I N G 37
Slide 38: Shaft Zone: McCombe FP61 Past Workings
Appendix D: Four Mineralized Structural Zones 3. Shaft Zone: McCombe FP61 Past Workings 1988 DDH 883-, between 65.0 and 135 feet, a core length of 70 feet, which assayed 0.47% Cu and 0.62 g/t Au, including a 6.0 foot section assaying 1.61% Cu and 3.19 g/t Au 1961: Work performed by McCombe Mining &
Slide 39: Shaft Zone: McCombe FP61 Past Workings
Appendix D: Four Mineralized Structural Zones 3. Shaft Zone: McCombe FP61 Past Workings 2021 Heritage Due Diligence visit – McCombe/FP61 Trench 1 (Left) Blast Rock (Right) STRICTLY PRIVATE AND CONFIDENTIAL H E R I T A G E M I N I N G 39
Slide 40: Alcona Mine Area: Acquisition Target
Appendix D: Four Mineralized Structural Zones Alcona Mine Area: Acquisition Target Alcona Mine Area: Acquisition Target 1991 DDH SPL-91-1: #1 + 2 Veins, weak zones assay up to 0.03 opt Au/1.3’ at 244.4’, 1979 DDH 79-1 to 5 Drilled on #1 + 2 veins, assays of 0.098 opt AU/4' (#3) AND 0.26 opt AU/2' (#