HEADWATER EXPLORATION INC. ANNOUNCES RESULTS OF DIRECTORS VOTE

CALGARY, AB, May 12, 2022 /CNW/ - Headwater Exploration Inc. ("Headwater") (TSX: HWX) is pleased to announce that the nominees listed in the Corporation's management information circular dated April 1, 2022 were elected as directors of Headwater at Headwater's annual and special meeting of shareholders (the "Meeting") held today, May 12, 2022. The detailed results of the vote for the election of directors held at the Meeting are set out below.

Election of Directors

On a vote by ballot, each of the following nine nominees proposed by management was elected as a director of Headwater:

Nominee		Outcome of Vote		Votes For		Votes Withheld
Elena Dumitrascu		Elected		161,184,953 (99.8%)		318,318 (0.2%)
Chandra Henry		Elected		159,587,532 (98.8%)		1,915,739 (1.2%)
Jason Jaskela		Elected		156,956,784 (97.2%)		4,546,487 (2.8%)
Phillip R. Knoll		Elected		161,457,065 (99.9%)		46,206 (0.1%)
Stephen Larke		Elected		138,514,146 (85.8%)		22,989,125 (14.2%)
Kevin Olson		Elected		161,337,633 (99.9%)		165,638 (0.1%)
David Pearce		Elected		159,856,264 (99.0%)		1,647,007 (1.0%)
Neil Roszell		Elected		159,739,805 (98.9%)		1,763,466 (1.1%)
Kam Sandhar		Elected		147,100,009 (91.1%)		14,403,262 (8.9%)

SOURCE Headwater Exploration Inc.

HEADWATER EXPLORATION INC., Mr. Neil Roszell, P. Eng., Chairman and Chief Executive Officer; HEADWATER EXPLORATION INC.: Mr. Jason Jaskela, P. Eng. President and Chief Operating Officer, HEADWATER EXPLORATION INC.: Ms. Ali Horvath, CPA, CA, Vice President, Finance and Chief Financial Officer; [email protected], [phone]