Headwater Gold Inc. announced final assay results from its 2023 Spring Peak drilling program. Drilling at Spring Peak was fully funded by a subsidiary of Newmont Corporation pursuant to the earn-in agreements announced on August 16, 2022. Highlights: Drilling at the Disco Zone has identified high-grade gold mineralization along the 400 metre (`m") drilled strike extent of the zone with multiple intercepts in excess of 10 grams per tonne gold ("g/t Au").

Mineralization remains open to the northeast, southwest, at depth and up-dip toward surface; Drill hole SP23-32 intercepted 39.81 m grading 1.93 g/t Au including 4.60 g/t Au over 11.43 m and drill hole SP23-31 intercepted 40.08 m grading 1.51 g/t Au including 4.55 g/t Au over 9.76 m; Step-out drill hole SP23-37 completed on the Pioneer target area approximately 400 m to the northeast along strike of the main Disco Zone intersected four assay intervals grading over 1 g/t Au within a 59-m-wide structural zone that hosts widespread low-grade gold and elevated pathfinder element mineralization; New surface sampling from the Pioneer target area has returned gold values up to 3.61 g/t Au in epithermal vein grab samples, prioritizing this area for future follow up; All drill holes from the 2023 program are now reported; and Discussions with earn-in partner Newmont are ongoing to finalize the 2024 work program for Spring Peak.