Headwater Gold Announces Commencement of Centerra-Funded Drilling at Crane Creek Project, Idaho

About this update from Headwater Gold, Inc.

Vancouver, British Columbia – TheNewswire - June 29, 2026: Headwater Gold Inc. (CSE: HWG) (OTCQX: HWAUF) (the “Company” or “Headwater”) is pleased to announce that Centerra Gold Inc. (“Centerra”) (TSX: CG) has commenced drilling at Headwater’s Crane Creek Project (“Crane Creek” or the “Project”) in western Idaho. The drill program is being operated and fully funded by Centerra pursuant to the earn-in agreement announced on December 3, 2025. Highlights: Centerra-Funded Drilling Underway: Approximately 3,000 metres of reverse circulation (“RC”) and core drilling has commenced, representing the first drill program under the Centerra earn-in partnership and the first drilling at the Project since the 1990’s;  Meaningful Initial Investment: Approximately US$1.7 million of exploration expenditures are planned toward Centerra’s US$2.5 million minimum commitment in 2026;  Testing Historical Gold Mineralization and New Targets: Drilling is designed to follow-up on areas of shallow historical gold mineralization, test below outcropping gold-bearing veins, and step out along strike away from known mineralized zones. Historical drilling at Crane Creek includes intercepts such as 62.5 m grading 1.21 g/t Au, including 8.14 g/t Au over 3.0 m in hole 96-24; and  Large Underexplored Epithermal System: The program follows Headwater’s recent geological and geophysical work, which expanded the target footprint beyond the area of historic drilling and defined multiple new structural targets.  Caleb Stroup, President and CEO of Headwater, states: “We are very pleased to see Centerra drilling this high-priority project. This program represents the first major test of the Project under our earn-in partnership and is expected to account for approximately US$1.7 million of partner-funded exploration toward Centerra’s US$2.5 million minimum commitment. Prior explorers identified gold mineralization at Crane Creek, including localized high-grade epithermal vein intercepts, but historical drilling was shallow and potential deeper epithermal vein targets were largely untested. The current program is designed to follow up shallow mineralization identified with historical drilling, test below known vein-controlled mineralization, and step out along strike and between zones. This is exactly the kind of partnership we seek at Headwater: meaningful discovery exposure fo...

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