Headwater Gold, Inc. · CSE:HWG
Headwater Gold — Investor Presentation (June 2026)
21 slides from Headwater Gold's investor presentation, Jun 25, 2026
Slide 1: Exploring for High-Grade Gold in the Western USA
CSE: HWG│OTCQX: HWAUF Q2 2026 EXPLORING FOR HIGH-GRADE GOLD IN THE WESTERN USA Strategically partnered with:
Slide 2: Cautionary Note
Cautionary Note This presentation includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein inclu
Slide 3: Teck Strategic Investment and Earn-in Partners
Teck Strategic Investment 79 28 Au Ni PGE TSX-V: F I N X CSE: REDC Gold Platinum Group 29 42 79 Nickel Elements Cu Mo Au Copper Molybdenum Gold OTCQB: REDRF FINEXMETALS.NET REDCANYONRESOURCES.COM Newmont Earn-in Partner AngloGold Ashanti Earn-in Partner OceanaGold Earn-in Partner Centerra Gold Earn-
Slide 4: Highlights: Exploring for World-Class Deposits
Highlights Exploring For World-Class Focused on High-Grade Gold HIGH Focus on high-grade gold and silver in mining-friendly Western USA World-Class Team GRADE Discovery driven, highly technical team with global and local experience and strong capital markets expertise Large Active Project Portfolio
Slide 5: Capital Structure
Capital Structure 86.6M 25.4M Outstanding Shares Management INSTITUTIONAL 3.7M 8.6M MANAGEMENT HNW & RETAIL & INSIDERS 48.9% Warrants Options 30% $38M $7M 9.9% 7.1% 4.1% Market Cap Cash Collecting 10% management fees on partner- Low Burn Rate funded programs with Newmont and OceanaGold Analyst Cover
Slide 6: Board of Directors and Technical Team
Board of Directors Caleb Stroup President & CEO Alistair Waddell Chairman Wendell Zerb Director Extensive MSc Geology BSc Geology, MAusIMM P. Geol Industry Experience Kinross, Nova Gold Kinross, GoldQuest, AngloGold Exeter, Canaccord, PI Financial Fraser MacCorquodale Tero Kosonen Graeme Currie Dire
Slide 7: Project Portfolio
OREGON Project Portfolio Crane Creek Matador TJ IDAHO Hybrid Self-Funded Exploration Hot Creek Discovery Large portfolio of 100%-owned projects Model with little or no royalty burden Jake Creek Midas North Rock Creek Leverage for Partner-Funded Exploration NEVADA shareholders Technical input +
Slide 8: Newmont Agreements
Newmont Stage Project-Specific Expenditures (US$) Newmont Expenditure Agreements Interest (%) Deadline Spring Peak Lodestar Minimum $5M $2M 0% 2 Years Commitment $15M $10M Stage 1 51% 3 Years Completed In progress US $85M +$40M Stage 2 +$20M 65% 3 Years of potential cumulative In progress exploratio
Slide 9: Spring Peak Nevada
Spring Peak Nevada Newmont Earn-In Project Flagship Project HIGH-GRADE NEW TARGET DISCOVERIES: ZONES: Recently Disco Zone: Shadow Target: expanded 15.92 g/t Au 7.62 m over 2.38 m @ 3.55 g/t Au land package Opal Ridge: Southpaw Target: 16.4 g/t Au 4.75 g/t Au over 1.52 m over 1.52 m 3.23 g/t Au over
Slide 10: Spring Peak Nevada 2024 Drill Intercepts
Spring Peak Nevada 2024 Drill Intercepts Newmont Earn-In Project Flagship Project Past Drilling 18 holes completed in 2024 targeting extensions and new areas Total of 6,874 meters of diamond core and reverse circulation drilling Tested extensions of known mineralization along the Bear Fault corridor
Slide 11: Lodestar Nevada
Lodestar Nevada Newmont Earn-In Project Flagship Project Recently expanded land package Analogous geologic features to Headwater’s Spring Peak Property 2025–2026 drilling completed: approximately 2,950 m of core and RC drilling identified the Meridian Zone as the primary focus for follow-up explorat
Slide 12: OceanaGold Agreements
OceanaGold Agreements Stage Project-Specific Expenditures (US$) OceanaGold Interest (%) Expenditure Deadline TJ Jake Creek Hot Creek Minimum $1M $1M $ 0.5M 0% 2 Years Commitment US $65M Stage 1 $10M $10M $5M 51% 4 Years In Progress of potential cumulative exploration expenditures Stage 2 +$15M +$15M
Slide 13: TJ Project Nevada
TJ Project Nevada OceanaGold Earn-In Project Preserved high-level epithermal alteration with geologic features similar to Headwater’s Spring Peak Property 2025 core drilling returned grades up to 5.61 grams per tonne gold (“g/t Au”) Only a small part of the system tested; mineralization remains open
Slide 14: Jake Creek Nevada
Jake Creek Nevada OceanaGold Earn-In Project Epithermal Drilling underway Gold System Less than 10 km from NGM Turquoise Ridge Complex* with High- Grade Gold 3,500-metre drill program: 8–10 holes to test multiple in Historic high-priority targets across * recently expanded property Drilling * * * NI
Slide 15: Centerra Agreement
Centerra Stage Project-Specific Expenditures (US$) Centerra Interest (%) Expenditure Deadline Agreement Minimum Crane Creek $2.5M 0% 2 Years Commitment In progress Stage 1 $10M 51% 3 Years US $25M +$15M of potential cumulative Stage 2 60% 3 Years 1-2% NSR to HWG exploration expenditures and completi
Slide 16: Crane Creek Idaho
Crane Creek Idaho Centerra earn-in project Fully-preserved epithermal vein system with multiple high- grade targets, open pit and underground potential Commanding land package in under-explored belt Gold-bearing epithermal quartz veins at surface Shallow historic drilling points to high-grade potent
Slide 17: Stock Performance and Catalysts
STOCK PERFORMANCE Centerra Signs Jake Creek Drilling at Earn-in Agreement Geophysics Catalysts Lodestar Drilling at TJ Spring Peak FAST-41 HWG +177% Permitting Track Newmont Advances to Stage 2 on Spring Peak Rick Rule and Jeff Phillips Financing Jake Creek Drilling Oceana Deal Announcement Spring P
Slide 18: Highlights
Highlights Focused on High-Grade Gold Focus on high-grade gold and silver in mining-friendly Western USA World-Class Team Discovery driven, highly technical team with global and local experience and strong capital markets expertise Project Generation Company specializes in generating new projects on
Slide 19: Frequently Asked Questions
Where can I find more information about the Newmont, OceanaGold, and Centerra earn-in agreements? Frequently For the full terms of the agreements, visit the Headwater website here. What is Headwater’s business model? Asked Hybrid between a traditional explorer and a prospect generator. This enables
Slide 20: Spring Peak Drill Core
Spring Peak Drill Core Drill Hole: SP22-13 Interval: 275.9 m – 276.5 m CSE: HWG│OTCQX: HWAUF 20
Slide 21: Contact
Contact Reno Caleb Stroup Suite 3 – 6170 President & CEO Mae Anne Avenue Tel: +1-507-313-1480 Reno, Nevada cstroup@headwatergold.com 89523 Vancouver Alistair Waddell 1130 West Pender Street Chairman Suite 1210, V6E 4A4 Tel: +1-604-681-9100 Vancouver, BC, Canada alistair@headwatergold.com Brennan Zer