Headwater Gold Commences Drilling on the Midas North Project, Nevada

About this update from Headwater Gold, Inc.

Headwater Gold Commences Drilling on the Midas North Project, Nevada (TheNewswire) Vancouver, British Columbia - TheNewswire - August 22, 2023 - Headwater Gold Inc. (CSE:HWG) (OTC:HWAUF) (the " Company " or " Headwater ") is pleased to announce the commencement of an approximate 3,500 metre (“m”) maiden drill program on its Midas North project, Nevada.  Drilling is fully funded by Newcrest Mining Limited (“Newcrest”) (ASX, TSX, PNGX: NCM) pursuant to the option and earn-in agreement (the “Earn-In Agreement”) announced on August 16, 2022. Highlights: Approximately 3,500 m of initial drilling is planned, utilizing a combination of reverse circulation (“RC”) and diamond core drilling; The Midas North project hosts a large, un-drilled epithermal alteration cell in the northern Midas District, approximately 13 km north of Hecla Mining Company’s (“Hecla”, NYSE: HL) past-producing Midas Mine; The goal of the program is to drill multiple structural targets at depth in the inferred epithermal boiling zone and test for the presence of high-grade gold and silver mineralization; and, Midas North represents the fourth drill program of 2023 across the Headwater portfolio.  More information on the other drill programs is available here. Midas North: ~3,500 metres (this release) Spring Peak: ~11,500 metres (in progress) Katey: ~3,500 metres (in progress) Mahogany: ~1,500 metres (assays pending) Caleb Stroup, the President and CEO of the Company, states: “This maiden Midas North drill program presents Headwater shareholders with a rare opportunity to be the first to explore the northern extension of the famous high-grade Midas District, which hosts multiple past producing gold and silver veins immediately to the south.  Our team is confident that the Midas North project has the potential to yield a new discovery and we are committed to utilizing the very best exploration techniques to unlock its full potential.  Since acquiring the project, our technical team has assembled a comprehensive geologic and geophysical dataset that has allowed us to generate numerous high-priority drill targets which will be tested with this initial maiden drill program.  The commencement of the Midas North drilling marks the fourth drill program in the Headwater portfolio this year, dem...

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