GlobeNewswire·Jun 29, 2026, 2:03 PM ET

Headwater Gold Announces Commencement of Centerra-Funded Drilling at Crane Creek Project, Idaho

Centerra Gold has commenced drilling at Headwater Gold's Crane Creek Project in western Idaho under its December 3, 2025 earn-in agreement.
The program involves approximately 3,000 meters of reverse circulation & core drilling, marking the first drilling at the site since the 1990s.
Centerra is fully funding the operation, with the current phase representing roughly US$1.7 million of its US$2.5 million minimum commitment for 2026.
Drilling targets include shallow historical gold mineralization, deeper zones below known veins, and new structural targets identified via recent geophysical surveys.
Historical data includes an intercept of 62.5 meters grading 1.21 g/t Au, including 8.14 g/t Au over 3.0 meters, though original data has not been independently verified by Headwater.
Centerra may earn up to a 70% interest in the project by meeting staged expenditure milestones, including a US$25 million total exploration pathway.
The project is a fully permitted 1,240-hectare low-sulfidation epithermal system located near the Nutmeg Mountain gold deposit owned by NevGold Corp.
Headwater Gold remains the operator of record while Centerra manages the current drilling phase & exploration expenditures.