(TheNewswire)
Vancouver, British Columbia - TheNewswire - April 11,2024: Headwater Gold Inc. (CSE: HWG) (OTCQB:HWAUF) (the "Company" or "Headwater") is pleasedto announce the appointment of Mr. Fraser MacCorquodale as aNon-Executive Director, effective immediately.
Highlights:
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The Company has appointed Mr. MacCorquodale as aNon-Executive Director;
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Fraser is an exploration geologist with over 35years’ experience and until recently was Newcrest Mining’s globalhead of exploration from 2008 to 2023, during which he was directlyinvolved in several discoveries within Australia, Indonesia, Papua NewGuinea, West Africa and Western Canada; and
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Fraser brings a deep understanding of high-gradeepithermal gold deposits which are the focus of exploration acrossHeadwater’s portfolio of projects.
Caleb Stroup, the President and CEO of the Company,states: “I am extremelypleased to welcome Fraser to the Headwater Gold team. Fraser boastsan extremely impressive career, having guided multiple successfuldiscovery-driven initiatives globally. His technical and strategicknowledge will be of great benefit to the Company as we scale up ourexploration efforts across our portfolio of projects and continue toadvance our recent Spring Peak high-grade gold discovery. I believethat Fraser’s joining the team underscores the quality of our teamand strategy and points to the opportunity for significant newdiscoveries to be made within our portfolio.”
About Fraser MacCorquodale,Non-Executive Director: Mr. MacCorquodale isan exploration geologist with over 35 years’ experience in exploringfor gold and copper deposits globally, encompassing expertise in nearmine, brownfield and greenfield exploration. Fraser led Newcrest’sglobal exploration team from 2008 to 2023, during which he wasdirectly involved in a number of discoveries within Australia,Indonesia, Papua New Guinea, West Africa and Western Canada. During his tenure, Fraser played a pivotalrole in formulating and executing Newcrest's growth strategy,overseeing the development of a world-class exploration team andestablishing a robust growth portfolio.
Fraser has extensive expertise in exploring for anddeveloping high-grade epithermal vein deposits globally, includingsignificant experience at several world-class deposits such as Cracowand Gosowong. This background, as well as experience in many otherepithermal districts throughout the world, has provided Fraser a deepknowledge of low-sulfidation vein systems and what is required tosuccessfully explore for them. Fraser was awarded the Colin SpenceAward for excellence in Global Mineral Exploration in 2020 from the Association for Mineral Exploration for his role in discovery of the Havieron project located inWestern Australia.
Stock Options: The Company has granted 150,000 incentive stock options (the“Options”) to Mr. MacCorquodale. Each Option is exercisable topurchase one common share of the Company at a price of $0.27 for afive-year term and will vest six months after the date of grant. TheOptions are subject to the acceptance of the Canadian SecuritiesExchange.
About Headwater Gold:
Headwater Gold Inc. (CSE: HWG, OTCQB: HWAUF) is atechnically-driven mineral exploration company focused on theexploration and discovery of high-grade precious metal deposits in theWestern USA. Headwater is aggressively exploring one of the mostwell-endowed and mining-friendly jurisdictions in the world with agoal of making world-class precious metal discoveries. Headwater hasa large portfolio of epithermal vein exploration projects and atechnical team of experienced geologists with diverse capital markets,junior and major mining company backgrounds. The Company issystematically drill testing several projects in Nevada and in August2022 and May 2023 announced significant transactions with NewmontCorporation where it acquired a 9.9% strategic equity interest in theCompany and entered into earn-in agreements on several ofHeadwater’s projects.
Headwater is part of the NewQuest Capital Group whichis a discovery-driven investment enterprise that builds value throughthe incubation and financing of mineral projects and companies. Further information about NewQuest can be found on the companywebsite at www.nqcapitalgroup.com ( see corporatepresentation ).
For more information, please visit the Company'swebsite at www.headwatergold.com ( see corporatepresentation ).
On Behalf of the Board ofDirectors
Caleb Stroup
President and CEO
+1 (775) 409-3197
For further information, please contact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
Forward-Looking Statements:
This news release includes certainforward-looking statements and forward-looking information(collectively, “forward-looking statements”) within the meaning ofapplicable Canadian securities legislation. All statements, other thanstatements of historical fact, included herein including, withoutlimitation, statements regarding future capital expenditures,exploration activities and the specifications, targets, results,analyses, interpretations, benefits, costs and timing of them,Newmont’s anticipated funding of the earn-in projects and the timingthereof, and the anticipated business plans and timing of futureactivities of the Company, are forward-looking statements. Althoughthe Company believes that such statements are reasonable, it can giveno assurance that such expectations will prove to be correct. Often,but not always, forward looking information can be identified by wordssuch as “pro forma”, “plans”, “expects”, “may”,“should”, “budget”, “scheduled”, “estimates”,“forecasts”, “intends”, “anticipates”, “believes”,“potential” or variations of such words including negativevariations thereof, and phrases that refer to certain actions, eventsor results that may, could, would, might or will occur or be taken orachieved. Forward-looking statements involve known and unknown risks,uncertainties and other factors which may cause the actual results,performance or achievements of the Company to differ materially fromany future results, performance or achievements expressed or impliedby the forward-looking statements. Such risks and other factorsinclude, among others, risks related to the anticipated business plansand timing of future activities of the Company, including theCompany’s exploration plans and the proposed expenditures forexploration work thereon, the ability of the Company to obtainsufficient financing to fund its business activities and plans, therisk that Newmont will not elect to obtain any additional interest inthe earn-in projects in excess of the minimum commitment, the abilityof the Company to obtain the required permits, changes in laws,regulations and policies affecting mining operations, the Company’slimited operating history, currency fluctuations, title disputes orclaims, environmental issues and liabilities, as well as those factorsdiscussed under the heading “Risk Factors” in the Company’sprospectus dated May 26, 2021 and other filings of the Company withthe Canadian Securities Authorities, copies of which can be foundunder the Company’s profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to placeundue reliance on forward-looking statements. The Company undertakesno obligation to update any of the forward-looking statements, exceptas otherwise required by law.
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