Consolidation Of Spring Peak Land Position Through Private Land Agreements Additional Claim Staking

VANCOUVER - Headwater Gold Inc. has signed agreements with a private landowner and staked additional claims to consolidate and expand the land position of the Spring Peak project in Nevada. The combined land consolidation represents an 87% increase in the property position and secures 880 acres of surface rights which may be utilized for potential long-term project infrastructure. The Company has also completed 32 line-km of controlled-source audio-frequency magnetotellurics (CSAMT) resistivity geophysics, a soil survey consisting of 615 additional soil samples and an airborne hyperspectral survey which collectively identify multiple new target areas.

Caleb Stroup, President and CEO, said, “The expansion and consolidation of the Spring Peak land position is an important milestone in the development of the Project.  We now have mineral rights and access to explore the full extent of the alteration cell exposed at Spring Peak.  Our geological understanding of the Project continues to evolve as we collect more surface data and complete additional exploration drilling.  The scale of the epithermal cell at Spring Peak continues to impress our geologists.  We believe the potential for mineralization extends well beyond the Opal Ridge and Disco Zone areas which have been our focus thus far and we are excited to continue to develop and test targets throughout the property.  Surface alteration and geophysical targets continue to the east onto our newly staked claims and to the west onto private lands now under option.  The surface rights associated with the private land option agreements also provide significant optionality, particularly in the long term, as permitting of infrastructure on private lands is generally a streamlined alternative to permitting on federally administered lands.”