Newmont-funded Nevada gold project selected for FAST-41 permitting

Core Viewpoint - Headwater Gold's Spring Peak project in Nevada has been included in the FAST-41 program, which aims to streamline regulatory approvals for mining-related infrastructure [1][2] Group 1: Project Details - The exploration project, known as the Burnt Rock Plan of Operations, will benefit from transparent regulatory reviews and predictable permitting timelines due to its inclusion in the FAST-41 program [2] - Newmont is funding the exploration at Spring Peak under an earn-in agreement, allowing it to acquire up to 75% of the project by spending $55 million in two stages and completing a prefeasibility study [4][5] - The first stage of exploration has been completed with Newmont spending $15 million, earning a 51% interest, while the second stage requires an additional $40 million investment for a further 14% interest [5] Group 2: Exploration Progress - Newmont's decision to advance to Stage 2 is based on positive drill results from the Disco zone and Shadow target, along with additional property scale targets [6] - The exploration plan includes the potential construction of up to 266 drill sites and 29 miles of new access roads, along with a comprehensive reclamation plan [7] Group 3: Market Reaction and Company Position - Following the announcement of the FAST-41 inclusion, Headwater Gold's shares rose nearly 5%, resulting in a market capitalization of C$47.4 million (approximately $33.8 million) [3] - The Spring Peak project is located in a historically significant mining region, adjacent to existing infrastructure from Hecla Mining Company's past operations [8] Group 4: Mineralization Findings - Drilling has confirmed high-grade gold mineralization at the Disco zone, with notable intersections including 15.92 grams per tonne (g/t) gold over 2.38 meters and 10.43 g/t gold over 2.01 meters [9] - Headwater holds an option to acquire a 100% interest in the Spring Peak project from Orogen Royalties, subject to certain conditions [9]