Core Insights - Headwater Gold Inc. has entered into a definitive earn-in agreement with Centerra Gold Inc. for Centerra to earn up to a 70% interest in Headwater's Crane Creek project in Idaho through staged exploration expenditures totaling up to US$25,000,000 and the completion of a preliminary economic assessment report [1][3][4] Agreement Structure - The earn-in agreement allows Centerra to acquire a 70% interest in the Crane Creek project by making an initial cash payment of US$87,000 and subsequent annual cash payments of US$50,000 starting on the first anniversary of the agreement [5][6] - The agreement consists of three stages: - **Stage 1**: Centerra can earn a 51% interest by funding US$10,000,000 in exploration expenditures within four years, including a minimum commitment of US$2,500,000 in the first three years [6][7] - **Stage 2**: Centerra may earn an additional 9% interest (up to 60%) by funding an additional US$15,000,000 within four years following Stage 1 [7][8] - **Stage 3**: Centerra can earn an additional 10% interest (up to 70%) by completing a preliminary economic assessment report that includes a minimum of 1,000,000 ounces of gold equivalent within two years following Stage 2 [8] Project Overview - The Crane Creek project is located in western Idaho, approximately 18 km northeast of Weiser and 90 km northwest of Boise, and is fully permitted for drilling [9][11] - The project encompasses an array of mineralized epithermal quartz veins and features characteristics of a well-preserved low-sulfidation system [9][12] - Historical drilling from 1984 to 1996 primarily targeted shallow mineralization, with significant potential for high-grade veins at greater depths remaining untested [12][13] Exploration Plans - Headwater and Centerra will work together to finalize an integrated exploration plan that incorporates recent geophysical datasets and historical results, with the goal of initiating Phase 1 drilling as early as spring 2026 [14]

Core Insights - Ero Copper Corp. has announced the completion of its 28,000-meter Phase 1 drill program at the Furnas Copper-Gold Project, revealing high-grade continuity and significant extensions of mineralization to a depth of approximately 950 meters [1][2][4] - The results from the Phase 1 program are expected to serve as a foundation for an updated NI 43-101 compliant mineral resource estimate and a preliminary economic assessment (PEA) scheduled for completion in the first half of 2026 [4][30] Drill Program Highlights - The Phase 1 drill program has confirmed high-grade mineralization continuity and extended known limits of mineralization well beyond previous estimates, with a maximum localized down-dip depth of 580 meters [2][4] - Eight drill rigs are currently operational on-site, with the Phase 2 drill program expected to complete 17,000 meters ahead of schedule in early Q4 2025 [3][4] Mineral Resource Estimates - The initial NI 43-101 compliant mineral resource estimate, effective June 30, 2024, includes: - Indicated Mineral Resource: 35.2 million tonnes grading 1.04% copper and 0.69 grams per tonne gold (1.36% CuEq) [10] - Inferred Mineral Resource: 61.3 million tonnes grading 1.06% copper and 0.63 grams per tonne gold (1.36% CuEq) [10] - The mineral resource estimate is based on approximately 90,000 meters of historical drilling and highlights the project's significant potential [8][10] Project Location and Infrastructure - The Furnas Copper-Gold Project is located in the Carajás Mineral Province in Pará State, Brazil, approximately 50 kilometers southeast of Vale Base Metals' Salobo operations [6][31] - The project covers an area of approximately 2,400 hectares and is situated near extensive regional infrastructure, including paved roads and a power substation [6] Strategic Partnerships - In July 2024, Ero Copper signed an earn-in agreement with Salobo Metais S.A., a subsidiary of Vale Base Metals, to acquire a 60% interest in the project upon meeting specific exploration and development milestones [7][31]