Headwater Gold and OceanaGold Sign Definitive Agreement to Explore Three Projects in Nevada

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[{"type":"text","content":"Headwater Gold and OceanaGold Sign Definitive Agreement to Explore Three Projects in Nevada\n\n\n\n VANCOUVER, British Columbia, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Headwater Gold Inc. (CSE: HWG, OTCQB: HWAUF) (the “Company” or “Headwater”) is pleased to announce that it has entered into a definitive agreement (the “Agreement”) with a subsidiary of OceanaGold Corporation (“OceanaGold”) (TSX: OGC, OTCQX: OCANF) for OceanaGold to acquire an option to earn up to a 75% interest in Headwater’s TJ, Jake Creek and Hot Creek projects in Nevada (collectively, the “Projects”) through staged exploration expenditures totalling up to US$65,000,000 and the completion of Pre-Feasibility Studies.\n \n\n\n\n Highlights:\n \n\n\n\n\n\n Firm commitment of US$2,500,000:\n \n OceanaGold to fund a minimum commitment of US$2,500,000 in exploration expenditures across three Projects within the first two years of the Agreement;\n \n\n\n Up to US$65,000,000 in staged earn-in expenditures:\n \n OceanaGold may elect to earn up to a 65% interest in each Project by funding exploration expenditures of US$25,000,000 on each of TJ and Jake Creek and US$15,000,000 on Hot Creek;\n \n\n\n OceanaGold may elect to earn an additional 10%\n \n\n by completing a PFS:\n \n By completing a Pre-Feasibility Study (“PFS”) on each project OceanaGold may earn an additional 10% in each Project (for a total of 75%) and grant Headwater a 1% NSR royalty upon completion of the PFS;\n \n\n\n 10% Management Fee:\n \n Under the partnership, Headwater will be the initial operator of the Projects and will receive a 10% management fee; and\n \n\n\n Commencement of drilling on the TJ project:\n \n Drill mobilization to the TJ project has begun following the execution of the Agreement.\n \n\n\n\n\n Caleb Stroup, Headwater’s President and CEO, states:\n \n “\n \n\n We are very excited to have executed the Definitive Agreement with OceanaGold, a strong technical and financial collaborator. The stage is now set for a series of exploration programs on all three of these projects in 2025. Mobilization for the TJ drilling program has commenced and we are eagerly anticipating the kickoff of this high-priority drill test. TJ is interpreted to represent a robust, fully preserved epithermal system...

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