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(TheNewswire)
Vancouver, British Columbia, September 26, 2025 TheNewswire – Headwater Gold Inc. (CSE: HWG) (OTCQB: HWAUF) (the “Firm” or “Headwater”) is happy to announce that Newmont Company (“Newmont”) has accomplished Stage 1 of the Spring Peak earn-in settlement introduced on August 16, 2022 (the “Earn-In Settlement”) by sole funding of US$15,000,000 in exploration expenditures on the undertaking. Newmont has earned a 51% curiosity within the Spring Peak undertaking and has elected to proceed to Stage 2 of the Earn-In Settlement to doubtlessly earn a 65% curiosity within the undertaking by sole funding an extra US$40,000,000 inside 36 months. The events will set up a Joint Enterprise Firm pursuant to a definitive three way partnership settlement, to be negotiated, which is able to govern administration, funding commitments and operator transition phrases to proceed exploration on the undertaking. Headwater is the operator of the undertaking and earns a ten% administration price.
Highlights:
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Newmont has accomplished Stage 1 of the Spring Peak undertaking Earn-In Settlement and has elected to advance the undertaking to Stage 2.
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Below Stage 2, Newmont could improve its curiosity within the undertaking from 51% to 65% by funding exploration expenditures of US$40,000,000.
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Upon completion of Stage 2, Newmont could elect to proceed to Stage 3 to earn an extra 10% curiosity, leading to a 75% curiosity within the undertaking by:
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Finishing a Pre-Feasibility Examine solely funded by Newmont inside an extra 2-year interval; and
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Granting to Headwater a 2% NSR royalty on claims 100% owned by Headwater and a 1% NSR royalty on inlying claims topic to an underlying possibility settlement.
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Headwater would be the preliminary operator of the undertaking below Stage 2 and earn a ten% administration price on exploration expenditures on the undertaking.
Caleb Stroup, President and CEO of Headwater, feedback: “The completion of Stage 1 and graduation of Stage 2 at Spring Peak symbolize a serious milestone for the undertaking and the Firm. We’re extraordinarily happy that Newmont has elected to proceed our partnership on the undertaking following the invention of the high-grade Disco Zone, encouraging drill outcomes from the Shadow Goal, and an increasing set of extra property scale targets. The US$40,000,000 potential funding included in Stage 2 positions the Firm to aggressively discover the district scale potential of the undertaking. A considerably expanded drill allow is at the moment present process company overview, which is able to permit for testing of extensions to the Disco Zone, the Shadow Goal, and different potential mineralized constructions by way of 266 proposed new drill websites.”
Click on Picture To View Full Dimension
Determine 1: Map of the Headwater Spring Peak and Lodestar land positions inside the Aurora pattern exhibiting space of the Spring Peak 2024 drill program.
Desk 1: Principal Construction of the Spring Peak Earn-In Settlement:
|
Stage |
Expenditures (US$) |
Newmont Curiosity (%) |
Time for Every Stage |
|
Minimal Dedication |
$5,000,000 (Full) |
0% |
3 years from Execution Date |
|
Stage 1 |
$15,000,000 (Full) |
51% |
3 years from Execution Date |
|
Stage 2 1 |
$40,000,000 (in progress) |
65% |
3 years from starting of Stage 2 |
|
Stage 3 2,3 |
Completion of PFS |
75% |
2 years from starting of Stage 3 |
|
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In regards to the Spring Peak Mission
The Spring Peak undertaking is situated within the Aurora Mining District within the Walker Lane belt, west-central Nevada, roughly 50 km southwest of the city of Hawthorne. The undertaking adjoins Hecla Mining Firm’s past-producing Aurora Mine advanced, the place current infrastructure features a 600 ton per day mill, a number of manufacturing water wells and high-voltage three-phase energy. Latest drilling on the Disco Zone has confirmed the presence of high-grade gold mineralization, together with important intersections reminiscent of 15.92 g/t Au over 2.38 m and 10.43 g/t Au over 2.01 m inside a broader zone of two.73 g/t Au over 34.72 m. An exploration Plan of Operations has been submitted to the US Forest Service proposing 266 extra drill websites to additional probe for extensions of recognized mineralization and check extra targets inside the land bundle. Headwater holds an possibility to accumulate a 100% undivided curiosity within the Spring Peak undertaking from Orogen Royalties (TSXV: OGN), topic to retained royalties and topic to Newmont’s possibility to accumulate as much as 75% of the undertaking following sure expenditures and preparation of a Pre-Feasibility Examine inside a delegated time-frame.
About Headwater Gold
Headwater Gold Inc. (CSE: HWG, OTCQB: HWAUF) is a technically-driven mineral exploration firm targeted on exploring for and discovering high-grade treasured metallic deposits within the Western USA. Headwater is actively exploring one of many world’s most well-endowed, mining-friendly jurisdictions, with a aim of creating world-class treasured metallic discoveries. The Firm has a big portfolio of epithermal vein exploration tasks and a technical crew with numerous expertise in capital markets and main mining corporations. Headwater is systematically drill-testing a number of tasks in Nevada and has strategic earn-in agreements with Newmont on its Spring Peak and Lodestar tasks. In August 2022 and September 2024, Newmont and Centerra Gold Inc. acquired strategic fairness pursuits within the Firm, additional strengthening Headwater’s exploration capabilities.
For extra details about Headwater, please go to the Firm’s web site at www.headwatergold.com .
Headwater is a part of the NewQuest Capital Group which is a discovery-driven funding enterprise that builds worth by means of the incubation and financing of mineral tasks and corporations. Additional details about NewQuest might be discovered on the corporate web site at www.nqcapitalgroup.com .
On Behalf of the Board of Administrators
Caleb Stroup
President and CEO
+1 (775) 409-3197
cstroup@headwatergold.com
For additional info, please contact:
Brennan Zerb
Investor Relations Supervisor
+1 (778) 867-5016
bzerb@headwatergold.com
1 Vikre, P.G., John, D.A., du Bray, E.A., and Fleck, R.J., 2015, Gold-silver mining districts, alteration zones, and paleolandforms within the Miocene Bodie Hills volcanic subject, California and Nevada: U.S. Geological Survey Scientific Investigations Report 2015–5012, 160 p.
2 Borealis Mining Firm Restricted, 2024, NI 43-101 Technical Report, Mission Standing Report Borealis Mine Nevada USA: Ready by Douglas Reid. Efficient Date: October 10, 2023; Report Date: February 16, 2024.
3 Lengthy, Okay.R., DeYoung, J.H., and Ludington, S.D., 1998, Database of serious deposits of gold, silver, copper, lead, and zinc in the USA: U.S. Geological Survey Open-File Report 98-206 A, B, 33 p.
Certified Particular person
The technical info contained on this information launch has been reviewed and authorized by Dr. Gregory Dering, P.Geo (AIPG CPG-12298), a “Certified Particular person” (“QP”) as outlined in Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks. Dr. Dering will not be impartial by cause of being the Firm’s Vice President of Exploration.
References
Ahead-Trying Statements:
This information launch contains sure forward-looking statements and forward-looking info (collectively, “forward-looking statements”) inside the that means of relevant Canadian securities laws. All statements, aside from statements of historic truth, included herein together with, with out limitation, statements concerning future capital expenditures, exploration actions and the specs, targets, outcomes, analyses, interpretations, advantages, prices and timing of them, Newmont’s anticipated funding of the earn-in tasks and the timing thereof, and the anticipated enterprise plans and timing of future actions of the Firm, are forward-looking statements. Though the Firm believes that such statements are affordable, it may give no assurance that such expectations will show to be appropriate. Typically, however not at all times, forward-looking info might be recognized by phrases reminiscent of “professional forma”, “plans”, “expects”, “could”, “ought to”, “price range”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such phrases together with damaging variations thereof, and phrases that seek advice from sure actions, occasions or outcomes which will, may, would, may or will happen or be taken or achieved. Ahead-looking statements contain recognized and unknown dangers, uncertainties and different components which can trigger the precise outcomes, efficiency or achievements of the Firm to vary materially from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements. Such dangers and different components embody, amongst others, dangers associated to the anticipated enterprise plans and timing of future actions of the Firm, together with the Firm’s exploration plans and the proposed expenditures for exploration work thereon, the power of the Firm to acquire ample financing to fund its enterprise actions and plans, the chance that Newmont won’t elect to acquire any extra prognostic curiosity within the earn-in tasks in extra of the minimal dedication, the power of the Firm to acquire the required permits, adjustments in legal guidelines, laws and insurance policies affecting mining operations, the Firm’s restricted working historical past, forex fluctuations, title disputes or claims, environmental points and liabilities, in addition to these components mentioned below the heading “Danger Components” within the Firm’s prospectus dated Might 26, 2021 and different filings of the Firm with the Canadian Securities Authorities, copies of which might be discovered below the Firm’s profile on the SEDAR+ web site at www.sedarplus.ca.
Readers are cautioned to not place undue reliance on forward-looking statements. The Firm undertakes no obligation to replace any of the forward-looking statements, besides as in any other case required by regulation.
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