Centerra Gold (CGAU) signed a definitive earn-in agreement with Headwater Gold for a Centerra unit to earn up to a 70% stake in Headwater's Crane Creek project in Idaho, according to a Wednesday statement.

Headwater said the Centerra unit will earn up to a 60% interest in the project after spending $25 million in staged exploration expenditures and an additional 10% stake after completing a preliminary economic assessment report.

Phase one drilling at the Crane Creek project is targeted to start as early as spring 2026, Headwater said.