VANCOUVER, British Columbia, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Headwater Gold Inc. (CSE: HWG, OTCQB: HWAUF) (the "Company" or "Headwater") is pleased to announce that it has entered into a definitive earn-in agreement (the “Agreement”) with a subsidiary of Centerra Gold Inc. (“Centerra”) (TSX: CG) for Centerra to earn up to a 70% interest in Headwater's Crane Creek project in Idaho (the “Project”) through staged exploration expenditures totalling up to US$25,000,000 and the completion of a preliminary economic assessment (“PEA”) report. Highlights: Headwater has entered into a definitive earn-in agreement with Centerra for a subsidiary of Centerra to earn up to a 70% interest in Headwater's Crane Creek project in Idaho; Up to US$25,000,000 in staged earn-in expenditures: Centerra may elect to earn up to a 60% interest in the Project by funding exploration expenditures of US$25,000,000 and granting Headwater a royalty on the Project; US$2,500,000 expenditure commitment: Centerra to fund a minimum commitment of US$2,500,000 in exploration expenditures during the first three years of the Agreement; Carried interest to completion of a PEA: Centerra may earn an additional 10% interest (up to 70%) in the Project by completing a preliminary economic assessment report on the Project; and The Project is fully permitted for drilling under a Notice of Intent with the Bureau of Land Management (“BLM”) and a Plan of Operation with the Idaho Department of Lands.