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Welcome to the Market Herald Video Q&A Podcast.

Heritage Mining Limited is focused on acquiring and developing Tier-1 advanced stage precious and base metal exploration projects in mining friendly regions.

Its current Drayton-Black Lake project in Northwestern Ontario, Canada has well-defined, near-term drill targets with more than 100 years of exploration data compiled.

Today, we are joined by the company’s President and Chief Executive Officer, Peter Schloo. Thanks very much for dropping by again to update us on your progress towards your widely anticipated IPO….

TMH: To start off with, for anyone who didn’t see your previous interview with us, can you tell them a little bit about yourself and the history of the company?

CLIENT: Absolutely. So I’m a chartered accountant and chartered financial analyst by background, eight or nine years of progressive experience in the capital markets industry from assurance, operations and obviously capital markets in mining, in the both private and public sector, I’ve held a few senior positions, C-suite positions on the TSX Venture and various private companies. A little bit about the project. So we are in the final stages of our much anticipated IPO. We’re looking to close off firm interest August 19th and be trading I believe on August 26th. So very exciting. We’re in Northwestern, Ontario, a 14,221 hectare package, gold copper predominantly and along the treasury metals extension of the Goliath Gold Complex. Our team has over a hundred years of management experience and we also have a hundred years of data that’s never been compiled until now.

So now what we have since we’ve signed the deal is we have a ton of information that we’re going through right now. We have some preliminary prospecting to properly orient ourselves for the drilling program anticipated in November and the whole team’s very excited, eager to get this done especially in this market. A big pat on the back to everybody that’s been helping us push this over the line because it’s been tough. We’re glad to be here and glad to have Stockhouse helping us out on the marketing side.

TMH: You’ve reached your minimum amount of capital required for your IPO raise; can you give investors an update on what that means for next steps?

CLIENT: Yeah, absolutely. So we’re still open for orders. As I said previously, we’re a firm expression of interest is August 19th. So basically August 19th is the last time you get a chance to come in on the IPO, which is similar pricing to the capital raise we did in December. I think I’ve said this before on various interviews across the board but the tone from the top is to allow retail investors the same pricing as you’d have on a private placement. It’s very hard for a retail investor to gain access to a private placement if they’re not accredited or related in some way shape or form to the company. So what you have right now is pricing that was decided at that time because when we did the raise in December that capital that was raised is answering the same questions that were answering with the IPO proceeds. So we thought that it’s only fair to have the same price. So it’s a great opportunity to come in. It looks like the market’s been somewhat stable as of recent. So we look forward to the future and then we’ll be trading August 26th. So it is very exciting and it’s near term. I mean we’re about 10 days away. So that’s fantastic. Very exciting.

TMH: As the team works toward its public listing, what’s the long-term strategy for the company moving forward and what should retail, and institutional investors be looking out for?

CLIENT: Yeah, absolutely. So what the tone from the top has been since inception was one it’s people first. So what we did is we built a team that has taken projects multiple times through to production. So that’s Trelawney, Joubie Gold Mine, Bell Creek, Grasberg mine in Indonesia. Those first three are in Ontario, which is great and sorry, two in Ontario and one in Val-d’Or and the other one in Indonesia all very impressive. What you can look for in this project is a team that has done it before, myself at the helm and a systematic exploration program going forward. So what we’ve done to start was we’ve already had airborne EM and MAG flown on the property. We’re waiting for that report and that should come shortly after the IPO is completed. We have already commenced our prospecting program, which is not a material event in and of itself but will help compliment and support our drill targets, which is slated to be in November of this year and then we can look forward to a significant amount of news flow out of the gate because we have a lot of exciting items to talk about and then the systematic exploration drill program throughout the late fall and winter.

TMH: What separates Heritage Mining from the competition?

CLIENT: Yeah. Great question. So yeah, building on the first and foremost is people first, the next is obviously the project. What we have here is an exploration stage or advanced exploration stage project with a hundred years worth of data. There’s 176 holes. There’s 20,000 meters. There’s narrow grade, high hits throughout the property from a gold and copper perspective. No one’s tested in between these narrow high grade hits, which is similar to what Treasury Metals has done. No one’s ever compiled this information into one database and then furthermore, no one’s ever looked at it in 3D from a low grade high tonnage. So we’re the first ones to consolidate the database. We’re the first ones to look at it. So that’s a complete fantastic opportunity from an exploration standpoint because there’s a ton of data to work with which is what we’re doing and then on top of that it’s not very often that an exploration company completes a full-blown IPO prospectus offering and what that means is normally what you do if you jump into these private placements is there’s a four month hold. Everything’s free trading, there’s flow through shares that’ll be free trading. There’s common shares, everything’s free trading day one on August 26th. So we look forward to that and I’d say off the hop that’s what separates us.

TMH: For company shareholders and potential investors, what kind of future development and progress can we expect at your Drayton-Black Lake Project?

CLIENT: Absolutely. So right now what we’re doing is the prospecting program where we’ll be interpreting the geophysical analysis. We will be securing our drilling contractors now that we’re at past the $2 million, so that we’re entertaining bids for that right now. So we’ll be closing that off in a few weeks and then starting our drill program in hope late fall. We can drill all year round there. The targets that we have are not in a swampy area right now. So it’s fantastic. We can kind of drill all year round so you can look forward to us executing on that in three and six months and then continue the drill program through the next summer.

TMH: What can you tell us about the Contact Bay Project?

CLIENT: Yeah, so with Contact Bay I have to be a bit careful. Right at this point we are not allocating any IPO proceeds to Contact Bay. It is considered a non-material project, so we’ve allocated zero to that. However, we are well capitalized and we’ll be advancing that in making the decision on whether that will be a material project or not for us. It is  in a very exciting area. It’s nine miles south of Dryden and so an hour and a half away from our flagship project and what you can look forward to there is again, we’ve flown airborne EM, and MAG. We’ll be interpreting that along with compiling the historical data and you can look forward to some nice news releases coming out after the IPO when we’ve compiled all that information.

TMH: Can you explain a little bit about your corporate management and board teams, along with the experience and innovative ideas they bring to the gold mining space?

CLIENT: Yeah, absolutely. So a little bit about the team. So myself again, chartered accountant, charter financial analyst. I believe I went through that previously, so I can skip over myself. We have two directors from the Trelawney sale to IAMGOLD that’s a $585 million sale. They were in there from the early days. So to have someone in Ontario that’s had a project from early inception all the way through to a large sale like that. You learn a lot and that can transcend into benefiting us. We also have Wray Carvelas, who is the director CEO of DRA Global. That’s a global mining and consulting firm and I actually met Wray back when his company did the mine build consulting for Steppe Gold, when I was there it was an advanced development story and now it’s a producer. So when he comes on the scene and we’re picking a project from an exploration standpoint, the vision is, is this going to work? It’s great to have his eyes there because he’s been there multiple times. He’s seen what works, what doesn’t work. So it’s fantastic to have him on the team as well.

TMH: Before we finish off, is there anything else you’d like investors to know about your current IPO?

CLIENT: Yeah. Well, I think I’ll just repeat what we’ve been saying. It’s very exciting. It’s a very interesting market. The interest can be reflected as of August 19th. So feel free to reach out directly or to your investment advisor, if this is appropriate for you we look forward to trading and doing exactly what we said we would do. Generate a lot of news flow and I’m sure you’ll be seeing more of me with new updates. So we look forward to that.

Thanks again for joining us at The Market Herald today, Mr. Schloo. We look forward to chatting with you again…

We’ve been speaking with Peter Schloo, President and CEO of Heritage Mining Limited. I’d like once again to thank Mr. Schloo for joining us and sharing this insightful information about his company with our Market Herald video podcast audience and investors.

Heritage Mining Limited is a private company.

I’m Daniella Atkinson for The Market Herald. Thanks for watching.

For regular updates, visit heritagemining.ca.

FULL DISCLOSURE: This is a paid article produced by The Market Herald.


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