Headwater Gold Intersects 46.33 Metres Grading 1.34 g/t Gold in its First Hole at Jake Creek and Provides Exploration Update

Vancouver, British Columbia - TheNewswire - October 28, 2026: Headwater Gold Inc. (CSE: HWG) (OTCQX: HWAUF) (the "Company" or "Headwater") is pleased to announce initial assay results from its Jake Creek Project in Nevada, including 1.34 grams per tonne gold (“g/t Au”) over 46.33 metres in drill hole JC26-01. Drilling programs are now complete at the Jake Creek Project and the Crane Creek Project, located in Idaho. Jake Creek drilling was 100% funded by OceanaGold Corporation (“OceanaGold”) (TSX: OGC , OTCQX: OCANF, NYSE: OGC ) pursuant to the earn-in agreement announced on October 15, 2025. Crane Creek drilling was 100% funded by Centerra Gold Corporation (“Centerra”) (NYSE: CGAU, TSX: CG) through an earn-in agreement announced on December 3, 2025. The Company has received notice from OceanaGold that it is terminating the earn-in agreements on the TJ and Hot Creek properties which were announced on October 15, 2025. Highlights: Jake Creek Drilling: Initial assays from drill hole JC26-01 returned 46.33 metres grading 1.34 g/t Au, with additional results pending. Headwater has completed its 2026 drill program at Jake Creek, comprising 3,574 metres across eight holes in five target a

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