Mr. Caleb Stroup reports

HEADWATER GOLD ANNOUNCES CFO UPDATE

Headwater Gold Inc. has appointed David Cross as chief financial officer of the company, effective immediately.

Mr. Cross is a chartered professional accountant (CPA) who brings 28 years of accounting experience, primarily in the mining and mineral exploration sector. Mr. Cross is a co-founder of Cross Davis & Co., a CPA firm that has focused on providing accounting and management services to publicly listed companies since 2010.

The company would like to thank Philip Yee, who previously served in the role of CFO, for his contributions to the company and wish him well in his future business ventures.

About Headwater Gold Inc.

Headwater Gold is a technically driven mineral exploration company focused on exploring for and discovering high-grade precious metal deposits in the Western United States. Headwater is actively exploring one of the world's most well-endowed and mining-friendly jurisdictions, with a goal of making world-class precious metal discoveries. The company has a large portfolio of epithermal vein exploration projects and a technical team with diverse experience in capital markets and major mining companies. Headwater is systematically drill testing several projects in Nevada and has strategic earn-in agreements with Newmont on its Spring Peak and Lodestar projects. In August, 2022, and September, 2024, Newmont and Centerra Gold Inc. acquired strategic equity interests in the company, further strengthening Headwater's exploration capabilities.

Headwater is part of the NewQuest Capital Group, which is a discovery-driven investment enterprise that builds value through the incubation and financing of mineral projects and companies.

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