08:31 AM EDT, 10/20/2025 (MT Newswires) -- Headwater Gold ( HWAUF ) Monday said that its exploration permit on the Spring Peak project, referred to as the Burnt Rock Plan of Operations and located in western Nevada, was selected for the United States Federal Permitting Improvement Steering Council's FAST-41 program Transparency List.

The company said the currently contemplated exploration program is funded by Newmont under Stage 2 of the Spring Peak earn-in agreement where Newmont may earn a 65% interest in the project by sole funding US$40 million over a three-year period.

It believes the authorization of the additional potential drill sites in the proposed permit would allow for an expansion of exploration activities at the project under Stage 2 of the Spring Peak earn-in agreement.

Shares of the company closed down 6.7% to $0.56 Friday on the Canadian Securities Exchange.