Vancouver, British Columbia, December 31, 2025 – TheNewswire -  Headwater Gold Inc. (CSE: HWG) (OTCQB: HWAUF) (the "Company" or "Headwater") announces that it has granted 1,825,000 incentive stock options (the “Options”) to directors, officers, employees and consultants of the Company.  Each Option is exercisable to purchase one common share of the Company at a price of $0.75 for a five-year term and vests immediately. The Options are subject to the acceptance of the Canadian Securities Exchange.

On Behalf of the Board of Directors

Caleb Stroup

President and CEO

+1 (775) 409-3197

[email protected]

For further information, please contact:

Brennan Zerb

Investor Relations Manager

+1 (778) 867-5016

[email protected]

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