Advancement Of Drill Permitting At Lodestar Project

VANCOUVER – Headwater Gold Inc. reported that drill permitting has advanced through the formal public scoping phase on Headwater’s Lodestar project, located in western Nevada. Project scoping marks a significant step toward securing final drilling approval following the submission of a Plan of Operations to undertake a proposed 3,500-metre drill program. The Lodestar project is being explored in partnership with Newmont Corporation.
The U.S. Forest Service has concluded the scoping phase of the environmental review process, paving the way for a final decision on the Plan of Operations. Project approval is anticipated by early fall 2025. Following final project approval, the Company expects to commence its planned drill program, fully funded through the $2M minimum expenditure commitment by Newmont. The program is expected to consist of up to 3,500 metres across 10 to 15 holes. The geology of the Zodiac target, including thick silica sinter, indicates near complete preservation of an epithermal system analogous to the geological setting of the Disco Zone discovered by Headwater on the Spring Peak project, approximately 10 km south of Lodestar. The Zodiac target is the highest priority untested target within Headwater’s greater Lodestar/Spring Peak project area. 
Caleb Stroup, President and CEO, said, “We are thrilled to see the Lodestar project progress through the formal scoping stage, bringing us closer to a maiden drill program on the high-priority Zodiac target. Final public scoping is the concluding stage of the Federal permitting process and sets the stage for currently anticipated drilling in Q4 2025.  Every effort has been made to refine our exploration plans to ensure responsible and efficient development and it is great to see the project moving ahead. We remain confident in the geological potential for Lodestar to host high-grade epithermal vein systems, building on the success of our nearby Spring Peak project.”