Headwater Gold Receives Approval for Lodestar Drill Program

Vancouver, British Columbia — October 2, 2025 — Leads & Copy — Headwater Gold Inc. has received approval from the U.S. Forest Service for its Lodestar Plan of Operations and is authorized to begin drilling activities. Earth work equipment mobilization to the site will begin immediately in preparation for an inaugural drill program of up to 3,500 meters. The Lodestar project is in the Walker Lane mineral belt in western Nevada and is being explored with Newmont Corporation through an earn-in agreement announced on May 9, 2023.

The U.S. Forest Service has approved the Lodestar Plan of Operations and authorized the commencement of drilling. Earth work and core drilling contractors have been notified to begin mobilization to the site. The planned drill program is fully funded through a US$2M minimum expenditure commitment by Newmont, and it is expected to consist of up to 3,500 meters, comprising 10 to 15 holes. Initial drilling will test beneath the silica sinter ridge at the Zodiac target, interpreted as the preserved paleosurface of an epithermal system.

Caleb Stroup, President and CEO of the Company, said that they are very pleased to have this permit in place, providing permission to commence drilling at Lodestar. Stroup added that the upcoming program will be the first test of what they consider to be a very high-priority untested high-grade vein target.

Contact:
Caleb Stroup
President and CEO
+1 (775) 409-3197
cstroup@headwatergold.com

Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
bzerb@headwatergold.com

Source: Headwater Gold Inc.