Headwater Gold Grants Stock Options

Suite 1210 – 1130 West Pender Street Vancouver, British Columbia, V6E 4A4 Canada T +1 (604) 681-9100 [email protected]

Headwater Gold Grants Stock Options

Vancouver, British Columbia, December 31, 2025: Headwater Gold Inc. (CSE: HWG) (OTCQB: HWAUF) (the "Company" or "Headwater") announces that it has granted 1,825,000 incentive stock options (the “Options”) to directors, officers, employees and consultants of the Company. Each Option is exercisable to purchase one common share of the Company at a price of $0.75 for a five-year term and vests immediately. The Options are subject to the acceptance of the Canadian Securities Exchange.

On Behalf of the Board of Directors

Caleb Stroup President and CEO +1 (775) 409-3197 [email protected]

For further information, please contact:

Brennan Zerb Investor Relations Manager +1 (778) 867-5016 [email protected]