Headwater Gold Inc. has entered into a new earn-in agreement with Newmont USA Limited, allowing Newmont to acquire up to a 75% interest in the Jupiter Project in Nevada by funding US$30 million in staged exploration expenditures and delivering a pre-feasibility study.

Under the agreement, Newmont commits to a minimum funding of US$2.5 million in exploration expenditures over the first 24 months. The transaction expands Headwater’s exploration relationship with Newmont, adding to existing partnerships on the Spring Peak and Lodestar projects. Newmont can earn an initial 51% interest in Jupiter by funding US$10 million within four years, including the minimum commitment. It can raise its interest to 65% by contributing an additional US$20 million over three years, and reach 75% by delivering a pre-feasibility study outlining a minimum of 1.5 million ounces of gold equivalent and granting Headwater a 2% net smelter return royalty.

Headwater will act as project manager during the initial earn-in period and earn a 10% management fee. Newmont will also reimburse Headwater US$250,000 for prior expenditures incurred on the property.

“We are delighted to broaden our relationship with Newmont through this new earn-in agreement on the Jupiter Project. Jupiter is exactly the type of opportunity we look for at Headwater: a large, underexplored epithermal system in Nevada with demonstrated gold mineralization, a potential district-scale alteration footprint and multiple untested targets.”

— Caleb Stroup, President and CEO

Preparations are underway for an initial drilling program at Jupiter targeted to commence in late 2026 or early 2027.

Read the full announcement: Headwater Gold Signs New Earn-In Agreement with Newmont on the Jupiter Project, Nevada