Vancouver, British Columbia — May 6, 2026 — Leads & Copy — Headwater Gold Inc. has announced results from its 2025-2026 drill program at the Lodestar project in Nevada's Aurora Mining District. The program, fully funded by Newmont Corporation, identified a new alteration zone called the Meridian Zone, which will be the primary focus for future exploration.

Reverse circulation drilling intersected the Meridian Zone, measuring approximately 600 meters by 700 meters. The zone exhibits pervasive illite-pyrite alteration with anomalous gold, arsenic, and mercury geochemistry. It is interpreted to be open in multiple directions and at depth.

Geochemical analysis suggests increasing alteration intensity towards the east, with multiple holes ending in strongly altered rock at the drilling limits. A 12.6 line-kilometer induced polarization (IP) survey is planned to further define the system and prioritize potential drill targets.

Core drilling tested the Zodiac Fault but did not find significant precious metal mineralization or alteration at depth, suggesting it is not the primary feeder to the sinter system.

The company reports that a drill permit is already in place for the Meridian Zone, allowing for efficient advancement to a potential next phase of drilling.

Caleb Stroup, President and CEO of Headwater Gold Inc., stated that the drill program at Lodestar significantly improved the understanding of the system and identified the Meridian Zone, a large and previously unrecognized area of hydrothermal alteration. He added that the Meridian Zone alteration is similar to that of the nearby Borealis deposits.

The 2025-2026 drill program consisted of approximately 2,950 meters of drilling in four core holes and RC holes between October 2025 and February 2026. With the completion of this program, Newmont has satisfied the Minimum Commitment component of Stage 1 under the earn-in agreement and is advancing toward completion of Stage 1, which would require an additional investment of approximately US$8,000,000.

The Lodestar project is located approximately 10 km north of Headwater’s Spring Peak Project and is adjacent to Hecla Mining Company’s past-producing Aurora mine complex.

Headwater Gold Inc. is a mineral exploration company focused on exploring for and discovering high-grade precious metal deposits in the Western USA.

Headwater is part of the NewQuest Capital Group.

The technical information contained in this news release has been reviewed and approved by Dr. Stephanie Grocke, P.Geo.

Source: Headwater Gold Inc.