Headwater Gold signs Newmont earn-in deal on Nevada Jupiter Project

Headwater Gold Inc. (CSE: HWG, OTCQX: HWAUF) has entered into an earn-in agreement with Newmont USA Limited, a subsidiary of Newmont Corporation (NYSE: NEM, ASX: NEM, PNGX: NEM), on its 100%-owned Jupiter Project in Nevada, according to a press release from the company.

Under the agreement, Newmont may acquire up to a 75% interest in the Jupiter Project through staged exploration expenditures totaling US$30,000,000 and the delivery of a Pre-Feasibility Study. The agreement includes a minimum funding commitment of US$2,500,000 over the first 24 months.

The staged structure allows Newmont to earn a 51% interest by spending US$10,000,000 within 48 months, a 65% interest by spending an additional US$20,000,000 within 36 months of Stage 2 commencement, and a 75% interest upon delivering a Pre-Feasibility Study with a minimum 1.5 million ounces of gold equivalent and granting Headwater a 2% net smelter return royalty within 36 months of Stage 3 commencement.

Headwater will serve as project manager during the initial earn-in period and receive a 10% management fee. Newmont will also reimburse Headwater US$250,000 for exploration expenditures incurred on the project prior to the agreement.

The Jupiter Project covers approximately 352 unpatented mining claims across roughly 7,000 acres in Nye County, Nevada, within the Walker Lane belt. The project features a hydrothermal alteration footprint of approximately 5 by 8 kilometers. Historical drilling has confirmed gold mineralization, including 9.1 meters at 1.1 grams per tonne gold.

The Jupiter agreement adds a third Headwater project to its existing exploration relationship with Newmont, which also covers the Spring Peak and Lodestar projects. An initial drilling program is targeted to commence in late 2026 or early 2027.

Caleb Stroup, President and CEO of Headwater, stated: "We generated and secured a high-quality 100%-owned project, advanced the geological concept and have now brought in a world-class partner to fund meaningful exploration while preserving significant upside exposure for Headwater shareholders."

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