New Blind Epithermal Discovery At Spring Peak

VANCOUVER - Headwater Gold Inc. reported that five reverse circulation (RC) drill holes completed on its first-pass drill program at its Spring Peak Project, located in Nevada. New blind gold discovery made with drill hole SP21-03 which intersected 38.1 meters (“m”) grading 1.00 grams per tonne (“g/t”) gold including 9.2 m grading 2.49 g/t gold. Four of five holes encountered significant intervals of gold mineralization beginning approximately 100 meters depth below surface. Drill results validate Headwater’s exploration model, confirming the presence of a laterally continuous gold-bearing epithermal boiling zone below a cap of silica sinter and barren alteration occurring on surface. The vein textures and multi-element geochemistry suggest the mineralization encountered occurs in the top of the targeted boiling horizon, with clear follow-up targets presented immediately down dip. Headwater has expanded the Spring Peak land position through claim staking, and approximately tripled the size of the claim block since optioning the Project from Orogen Royalties Inc., and is now planning follow-up drilling.