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Goliath Intersects 11.00 g/t Au Over 4.85 Meters, Drilling Maintains 100% Hit Rate, 94% Of Holes Contain Visible Gold, Assays Pending Surebet Discovery, Golddigger Property, Golden Triangle, B.C.

Provided By GlobeNewswire

Last update: Jul 28, 2025

  • 2025 drilling has more than doubled the known extent of the Bonanza Zone from 550 meters to over 1.1 km across and remains wide open with 100% of the drill holes intersecting substantial quartz-sulphide mineralization as well as 94% of drill holes containing gold visible to the naked eye (“VG”), assays pending.
  • Drilling has been completed in 34 holes (~25,000 meters) within the first month of drilling with 81 holes remaining (~35,000 meters) on Surebet. With 2 months remaining, the Company is on target to complete the planned and fully funded ~60,000 meter program with 9 rigs actively drilling.
  • Drill hole GD-25-317 intersected excellent gold mineralization in two separate intervals from the Bonanza Zone and the Surebet Zone that remain open, where 8 occurrences of gold visible to the naked eye were identified in quartz-stockwork and breccia zones containing moderate amounts of sphalerite, galena and pyrrhotite:
    • The Bonanza Zone interval consists of 3.17 g/t Au over 18.73 meters, including 5.10 g/t Au over 11 meters, including 11 g/t Au over 4.85 meters.
    • The Surebet Zone interval consists of 3.64 g/t Au over 9.40 meters, including 6.02 g/t Au over 5.50 meters.
    • The reported assays reflect gold only (AuEq value in intervals will be adjusted accordingly once Ag, Cu, Pb and Zn are received).
  • Drill hole GD-25-302 intersected substantial gold mineralization in two separate intervals within a 96.50 meter interval where 6 occurrences of gold visible to the naked eye were identified in an altered andesite unit with high density quartz-sulphide veining corresponding to the Bonanza Zone that remains open:
    • The first interval consists of 2.26 g/t Au over 19.00 meters, including 6.28 g/t Au over 6.00 meters, including 8.88 g/t Au over 4.00 meters.
    • The second interval consists of 1.59 g/t Au over 16.00 meters, including 3.44 g/t Au over 6.00 meters.
    • These new intervals extend the footprint of high-grade gold mineralization of the Bonanza Zone to the south by 150 meters increasing the resource potential of this zone that remains wide open.
    • The reported assays reflect gold only (AuEq value in intervals will be adjusted accordingly once Ag, Cu, Pb and Zn are received).
  • Drill hole GD-25-314 intersected 2.25 g/t Au over 4 meters, including 2.82 g/t Au over 3.15 meters part of the Bonanza Zone.
  • Drill hole GD-25-317 is located 180 meters to the northeast and GD-25-302 is located 420 meters to the east of drill hole GD-24-260, the highest grade gold interval drilled on Surebet to date (see news January 13, 2025), which assayed 34.52 g/t AuEq or 1.11 oz/T AuEq (34.47 g/t Au and 3.96 g/t Ag) over 39.00 meters including 132.93 g/t AuEq or 4.27 oz/T AuEq (132.78 g/t Au and 12.98 g/t Ag) over 10.00 meters, and 166.04 g/t AuEq or 5.34 oz/T AuEq (165.84 g/t Au and 16.07 g/t Ag) over 8.00 meters within an interval composed of altered andesite with substantial quartz-sulphide veining confirming the additional discovery potential for high-grade gold mineralization at the Surebet Discovery that remains wide open.
  • High-grade gold has now been recovered in three distinct rock packages discovered to date on Surebet. This includes the gently dipping gold-rich stacked veins, the gold-rich intermediate to felsic Eocene-aged Reduced Intrusive Related Gold (RIRG) near vertical dykes, and the newly discovered broad gold-rich zones of calc-silicate altered breccia, all of which contain substantial amounts of gold visible to the naked eye and remain wide open for expansion, confirming the presence of the Motherlode magmatic source at depth, a causative intrusion responsible for the extensive 1.8 km2 high-grade gold system at Surebet.
  • The 2025 planned campaign is under way and consists of 60,000 meters (recently increased from 40,000 meters) of systematic drilling with 9 drill rigs. The campaign aims at expanding the full geometry of the Surebet discovery laterally and to depth. 100% of the drilling will be focused on the Surebet Discovery, where the Company has designed a detailed drill plan that will consist of:
    • Testing for the Motherlode Magmatic intrusive gold source;
    • Testing an additional 13 Eocene-aged dykes observed on the surface that have never been drill tested for RIRG mineralization;
    • Infill drilling with the goal of increasing pierce points density in all known stacked veins with a particular focus on the highest-grade areas from the Bonanza Zone and Surebet Zone intersection domain;
    • Testing zones where the RIRG Eocene-aged dykes and gently dipping veins crosscut which are being called Goldilocks Zones as they are key locations where there are two styles of gold mineralization enriching the zones; and
    • Expanding the known mineralized veins laterally and to depth where they currently remain open.

TORONTO, July 28, 2025 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is very pleased to announce positive assay results from drill hole GD-25-317 which assayed 3.17 g/t Au over 18.73 meters, including 5.10 g/t Au over 11 meters, including 11 g/t Au over 4.85 meters within the Bonanza Zone that remains wide open at Surebet on the 100 % controlled Golddigger Property (the “Property”), Golden Triangle, British Columbia. An additional gold-rich interval in the same hole consists of 3.64 g/t Au over 9.40 meters, including 6.02 g/t Au over 5.50 meters part of the Surebet Zone.

Two intervals of high-grade gold mineralization were also intersected in drill hole GD-25-302 that assayed 2.26 g/t Au over 19.00 meters, including 6.28 g/t Au over 6.00 meters, including 8.88 g/t Au over 4.00 meters, and 1.59 g/t Au over 16.00 meters, including 3.44 g/t Au over 6.00 meters. These new intervals extend the footprint of high-grade gold mineralization of the Bonanza Zone to the south by 150 meters increasing the resource potential of this zone that remains wide open, confirming the additional discovery potential for high-grade gold mineralization at the Surebet Discovery.

The Company has completed 25,000 meters of drilling (out of 60,000 meters planned and fully funded for 2025), with 100% of the drill holes intersecting substantial quartz-sulphide mineralization as well as 94 % of the holes contain gold visible to the naked eye. The reported assays reflect gold only (AuEq value in interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received).

Mr. Roger Rosmus, Founder & CEO of Goliath states: "Receiving exceptional gold only assays of 3.17 g/t Au over 18.73 meters, including 5.10 g/t Au over 11 meters, including 11 g/t Au over 4.85 meters from the first new holes completed in 2025 is a testament to the strong high-grade gold potential at Surebet. With 100% of drill holes completed this year intersecting mineralization, as well as 94% of the holes containing gold visible to the naked eye, we are on track to complete the most ambitious drill program on Surebet to date with 25,000 meters completed and 35,000 meters to go for a total of 60,000 meters that is fully funded. We are looking forward to releasing additional assay results and updating the gold-equivalent (AuEq) hole results as they become available.”

Drill hole GD-25-317 intersected 5 occurrences of gold visible to the naked eye (“VG”) hosted in veins that are part of a quartz-stockwork in sandstone units containing moderate amounts of sulphides such as sphalerite, galena and pyrrhotite. A 27.68 meter interval with high-density of quartz-sulphide veining from 332.88 meters to 360.56 meters contains 2 occurrences of visible gold at 355.90 meters and 359.47 meters from the Surebet Zone. Another 19.83 meter interval from 441.90 meters to 461.73 meters contains multiple quartz-sulphide veins up to 50 cm wide with 2 occurrences of visible gold at 457.02 meters and 459.66 meters from the Bonanza Zone. Additional VG was identified at 256.90 m. The new intercept is located 180 meters to the northeast of drill hole GD-24-260, the highest grade gold interval drilled on Surebet to date, which assayed 34.52 g/t AuEq or 1.11 oz/T AuEq (34.47 g/t Au and 3.96 g/t Ag) over 39.00 meters including 132.93 g/t AuEq or 4.27 oz/T AuEq (132.78 g/t Au and 12.98 g/t Ag) over 10.00 meters, and 166.04 g/t AuEq or 5.34 oz/T AuEq (165.84 g/t Au and 16.07 g/t Ag) over 8.00 meters within an interval composed of altered andesite with substantial quartz-sulphide veining (see news January 13, 2025). Drill hole GD-25-302 intersected 6 occurrences of VG over a 96.50 meter interval from 89.50 meters to 186.00 meters within an altered andesite unit with high density quartz-sulphide veining corresponding to the Bonanza Zone that remains open. The new intercept is located 420 meters to the east of drill hole GD-24-260.

Table 1: Assay highlights from 2025 drill holes reported in this news release.

Hole ID   From (m) To (m) Interval (m) Au (g/t)
GD-25-317 Interval 352.00 361.40 9.40 3.64
including 355.90 361.40 5.50 6.02
Interval 443.00 461.73 18.73 3.17
including 449.85 460.85 11.00 5.10
including 456.00 460.85 4.85 11.00
GD-25-302 Interval 99.00 115.00 16.00 1.59
Including 103.00 109.00 6.00 3.44
Interval 121.00 140.00 19.00 2.26
Including 128.00 134.00 6.00 6.28
Including 128.00 132.00 4.00 8.88
GD-25-314
 Interval 315.00 319.00 4.00 2.25
including 315.00 318.15 3.15 2.82
 

High-grade gold mineralization has been confirmed in three distinct rock packages at the Surebet Discovery, which include: gently-dipping gold-rich mineralized stacked veins; gold-rich intermediate to felsic Eocene-aged RIRG dykes that crosscut the veins; and the broad zones of calc-silicate altered breccia. All three rock packages contain substantial amounts of VG and remain wide open, which strongly indicates the presence of a Motherlode magmatic causative source at depth responsible for the widespread high-grade gold mineralization at the Surebet Discovery.

Table 2: Collar information for drill hole GD-25-302 reported in this news release.

Hole ID CRS Northing (m) Easting (m) Elevation (m) Azimuth (deg) Dip (deg) Length (m)
GD-25-317 NAD83 / UTM zone 9N 6162777 457445 1511 130 67 717
GD-25-314 NAD83 / UTM zone 9N 6162588 457018 1382 80 70 593
GD-25-302 NAD83 / UTM zone 9N 6162509 457818 1141 195 69 1635
 

The 2025 planned campaign is under way and consists of 60,000 meters (recently increased from 40,000 meters) of systematic drilling with 9 drill rigs. The campaign aims at expanding the full geometry of the Surebet discovery laterally and to depth. 100% of the drilling will be focused on the Surebet Discovery, where the Company has designed a detailed drill plan that will consist of: testing for the Motherlode Magmatic intrusive gold source; testing an additional 13 Eocene-aged dykes observed on the surface that have never been drill tested for RIRG mineralization; infill drilling with the goal of increasing pierce points density in all known stacked veins with a particular focus on the highest-grade areas from the Bonanza Zone and Surebet Zone intersection domain; testing zones where the RIRG dykes and gently dipping veins crosscut which are being called Goldilocks Zones as they are key locations where there are two styles of gold mineralization enriching the zones; and expanding the known mineralized veins laterally and to depth where they currently remain open.

2025 re-logging initiative

Recently released results from the re-logging of holes drilled between 2021 – 2024 include a new interval from drill hole GD-22-64 (see news June 23, 2025) comprising a Reduced Intrusion Related Gold dyke believed to be directly related to the Motherlode feeder source that contained gold visible to the naked eye and assayed 6.31 g/t AuEq over 14.35 meters including 11.36 g/t AuEq over 7.85 meters, as well as drill hole GD-24-280 (see news July 7, 2025), which assayed 8.31 g/t Au over 23.00 meters, including 15.69 g/t Au over 11 meters, including 37.45 g/t Au or 1.20 oz/T over 4 meters hosted in the calc-silicate altered breccia within the high-grade gold Bonanza Zone.

From the early season re-logging initiative, assays are pending for an additional 6 drill holes containing VG associated with RIRG dykes, calc-silicate altered breccias and known stacked veins, including:

  • GD-24-277 (1 occurrence of VG, hosted in calc-silicate altered andesite breccia);
  • GD-22-102 (5 occurrences of VG, hosted in altered andesite);
  • GD-24-254 (2 occurrences of VG, hosted in andesite);
  • GD-24-267 (1 occurrence of VG hosted in sandstone); and
  • GD-24-244 (1 occurrence of VG hosted in an Eocene-aged dyke).

Table 3: Assay highlights from the 2025 re-logging program.

Hole ID   From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu (ppm) Pb (ppm) Zn (ppm) AuEq (g/t)
GD-24-249 Interval 89.00 91.95 2.95 1.71 0.73 0.01 0.00 0.01 1.72
GD-24-283 Interval 527.50 530.15 2.65 0.35 0.52 0.00 0.00 0.01 0.37
GD-24-283 Interval 534.00 536.00 2.00 0.93 1.05 0.01 0.00 0.12 0.98
GD-21-09 Interval 136.50 139.21 2.71 0.29 1.37 0.00 0.01 0.02 0.32
 

Table 4: Collar information for drill holes from the 2025 re-logging program reported in this news release.

Hole ID CRS Northing (m) Easting (m) Elevation (m) Azimuth (deg) Dip (deg) Length (m)
GD-21-09 NAD83 / UTM zone 9N 6163076 457510 1657 140 62 388
GD-24-283 NAD83 / UTM zone 9N 6162756 457363 1506 135 55 650
GD-24-249 NAD83 / UTM zone 9N 6162560 457938 1138 10 80 396
 

Surebet Discovery Highlights

  • 32 out of 34 holes (or 94%) drilled thus far in 2025 contain gold visible to the naked eye and a 100% hit rate of drill holes have intersected substantial quartz-sulphide mineralization.
  • 60 out of 64 holes (or 94%) drilled in 2024 contained gold visible to the naked eye up to 11.5 mm (7/16 inches) in size, all of which returned high-grade gold.
  • The best hole drilled to date is GD-24-260 previously reported from the Bonanza Zone assayed 34.52 g/t AuEq (34.47 Au and 3.96 Ag) over 39.00 meters, including 132.93 g/t AuEq (132.78 Au and 12.98 Ag) over 10.00 meters, and 166.04 g/t AuEq (165.84 Au and 16.07 Ag) over 8.00 meters (see news release dated January 13, 2025).
  • The best hole drilled to date from the RIRG Eocene-aged dykes is GD-22-58 that assayed 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters including 19.91 g/t AuEq (19.62 g/t Au and 25.61 g/t Ag) over 6.00 meters, including 23.82 g/t AuEq (23.47 g/t Au and 30.54 g/t Ag) over 5.00 meters, plus a second separate interval down hole of 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters (see news release dated March 13, 2025).
  • The best hole drilled to date from the third distinct rock package consisting of calc-silicate altered breccia is GD-24-280 that assayed 8.31 g/t Au over 23.00 meters, including 15.69 g/t Au over 11 meters, including 37.45 g/t Au or 1.20 oz/T over 4 meters within the Bonanza Zone (see news July 7, 2025).
  • Multiple gently-dipping gold-mineralized stacked veins have been identified every year on the Surebet high-grade gold discovery. Recent discoveries include RIRG Eocene-aged dykes, Goldilocks Zones where the veins and vertical RIRG dykes crosscut (which are characterized by having high-grade gold in two temperature regimes) and recently discovered high-grade gold in a third distinct rock package. Which continuously increase the potential tonnage and gold content of the high-grade gold system at the Surebet discovery.
  • A total of 12 stacked gently dipping high-grade gold veins extend for 1.2 kilometers at the Surebet discovery, have been enhanced by four high-grade RIRG Eocene-aged dykes that are up to 25 meters wide and exposed along strike at surface for up to 1,500 meters have been discovered and modelled to date (see news release dated June 23, 2025).
  • The footprint of the mineralization discovered to date at Surebet is 1.8 km2, the equivalent in size to >336 NFL football fields and remains open in all directions.
  • Thanks to the mountainous topography, mineralization in the veins is exposed on the surface for 2.1 km of strike (1.0 km on the south slope and 1.1 km on the north slope) with a vertical relief of 700 meters.
  • A study completed by the Colorado School of Mines confirms a new interpretation of the ore forming process of high-grade gold mineralization at Surebet and outlines a common magmatic source for the high-grade gold system, now in three distinct rock packages. Which gives the Surebet discovery tremendous untapped discovery potential to increase tonnage and gold content in the various known rock package. Until this study, researchers and explorers in the Golden Triangle had not recognized the high-grade gold discovery potential in the Eocene-aged RIRG dykes (see news release March 13, 2025), which is showing the potential that these discoveries could be a geological breakthrough in the Golden Triangle of British Columbia.
  • Goliath has drilled a total of 92,000 meters with over 400 pierce points on the Golddigger property between 2021 and 2024, which culminated in the updated geologic model used for this year’s drill planning.
  • The Surebet Discovery has predictable continuity and very good metallurgy with gold recoveries of 92.2% from gravity and flotation at a 327-micrometer crush including 48.8% free gold recovery from gravity alone (no cyanide required to recover the gold). The metallurgy completed to date shows a benign rock composition without deleterious elements (see news release March 1, 2023).
  • Based on positive grassroots exploration and drill results in recent years, Goliath significantly increased its land package from 66,608 hectares to 91,518 hectares (226,146 acres) and now controls 56 kilometers of key terrain of the Red Line geologic trend providing for additional upside discovery potential.
  • The Golddigger Property is located on tidewater with a barge route to Prince Rupert (190 km south) and close to infrastructure including the town of Kitsault adjacent to a permitted mine site on private property.

About Golddigger Property

The Golddigger Property is 100% controlled and covers an area of 91,518 hectares in a highly prospective geological setting of the Eskay Rift, within 3 kilometers of the Red Line in the Golden Triangle of British Columbia. This area, in close proximity to the Red Line, has hosted some of Canada’s greatest gold mines including Eskay Creek, Premier and Snip. Other significant and well-known deposits in the Golden Triangle include Brucejack, Copper Canyon, Galore Creek, Granduc, KSM, Red Chris, and Schaft Creek. Goliath controls 56 kilometers of the Red Line which is a geologic contact between Triassic age Stuhini rocks and Jurassic age Hazelton rocks used as key markers when exploring for gold-copper-silver mineralization.

The Surebet discovery has predictable continuity and excellent metallurgy with gold recoveries from gravity and flotation at a 327-micrometer crush of 92.2% including 48.8% free gold from gravity alone (no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements are present (see news release dated March 1, 2023).

The Property is in an excellent location in close proximity to the communities of Alice Arm and Kitsault where there is a permitted mill site on private property. It is situated on tide water with direct barge access to Prince Rupert (190 kilometers via the Observatory inlet/Portland inlet). The town of Kitsault is accessible by road (190 kilometers from Terrace, 300 kilometers from Prince Rupert) and has a barge landing, dock, and infrastructure capable of housing at least 300 people, including high-tension power.

Additional infrastructure in the area includes the Dolly Varden Silver Mine Road (only 7 kilometers to the East of the Surebet discovery) with direct road access to Alice Arm barge landing (18 kilometers to the south of the Surebet discovery) and high-tension power (25 kilometers to the east of Surebet discovery). The city of Terrace (population 16,000) provides access to railway, major highways, and airport with supplies (food, fuel, lumber, etc.), while the town of Prince Rupert (population 12,000) is located on the West Coast of British Columbia and houses an international container seaport also with direct access to railway and an airport.

About CASERM (Center to Advance the Science of Exploration to Reclamation in Mining)

Goliath Resources is a paying member and active supporter of the Center to Advance the Science of Exploration to Reclamation in Mining (CASERM), which is one of the world’s largest research centers in the mining sector. CASERM is a collaborative research venture between Colorado School of Mines and Virginia Tech that is supported by a consortium of mining and exploration companies, analytical instrumentation and software companies, and federal agencies aiming to transform the way geoscience data is acquired and used across the mining value chain. The center forms part of the I-UCRC program of the National Science Foundation. Research focuses on the integration of diverse geoscience data to improve decision making across the mine life cycle, beginning with the exploration for subsurface resources continuing through mine operation as well as closure and environmental remediation. Over the past three years, Goliath Resources’ membership in CASERM has allowed a high level of research to be performed on the Surebet Discovery.

Qualified Person

Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath Resource Limited projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release. Mr. Turna is an Independent Director of the Company.

About Goliath Resources Limited

Goliath Resources is an explorer of precious metals projects in the highly prospective Golden Triangle of Northwestern British Columbia. All of its projects are in high quality geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath has embarked on its largest drill campaign to date that is fully funded for up to 60,000 meters in total during 2025. The Company’s key strategic cornerstone shareholders include Crescat Capital, a Global Commodity Group (Singapore), McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), Waratah Capital Advisors, Mr. Rob McEwen, Mr. Eric Sprott and Mr. Larry Childress.

For more information please contact:

Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1.416.488.2887
roger@goliathresources.com
www.goliathresourcesltd.com

Disclaimer

The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.

Oriented HQ-diameter or NQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX DepositTM. Drill holes were planned using Leapfrog GeoTM and QGISTM software and data from the 2017-2024 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration is sampled in lengths of 0.5 to 1.5 meters. Core samples are cut lengthwise in half: one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. The bagged samples are then weighed and secured with a zip tie. Certified reference materials (CRMs), blanks and duplicates are added in the sample stream at a rate of 10%. To ensure analytical anonymity, CRM identification labels are removed prior to submission to the laboratory. Additional out-of-sequence blanks are introduced immediately following core samples that contain visible gold or high-grade sulphide mineralization.

Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples are then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, certified reference materials, and duplicate samples are inserted regularly into the sample sequence at a rate of 10%.

All samples are transported in rice bags sealed with numbered security tags. The rice bags are transported from the core shacks to the MSALABS facilities in Terrace, BC. MSALABS is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. The core samples undergo preparation via drying, crushing to ~70% of the material passing a 2 mm sieve and riffle splitting. The sample splits are weighed and transferred into three plastic jars, each containing between 300 g and 500 g of crushed sample material. A 250 g split is pulverized to ensure at least 85% of the material passes through a 75 µm sieve. The crushed samples are transported to the MSALABS PhotonAssayTM facility in Prince George, where gold concentrations are quantified via photon assay analysis (method CPA-Au1). Samples that result in gold concentrations ≥5 ppm are analyzed to extinction. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, inducing the emission of secondary gamma rays, which are measured to quantify gold concentrations. The assays from all jars are combined on a weight-averaged basis. Multielement analyses are carried at the MSALABS facilities in Surrey, BC, where 250 g of pulverized splits are analyzed via ICF6xx and IMS-230 methods. The IMS-230 method uses 4-acid digestion (a combination of hydrochloric, nitric, perchloric and hydrofluoric acids) followed by inductively coupled plasma emission spectrometry to quantify concentrations of 48 elements. Samples with over-limit results for Ag, Cu, Pb and Zn undergo ore-grade analysis via the ICF-6xx method (where ‘xx’ denotes the target metal). This method employs 4-acid digestion followed by inductively coupled plasma emission spectrometry.

Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and Gold Equivalent (AuEq) metal values are calculated using: Au 2797.16 USD/oz, Ag 31.28 USD/oz, Cu 4.25 USD/lbs, Pb 1955.58 USD/ton and Zn 2750.50 USD/ton on January 31st, 2025. There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences based on other mining and exploration projects in the same Golden Triangle Mining Camp where Goliath’s project is located such as the Homestake Ridge Gold Project (Auryn Resources Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project, prepared by Minefill Services Inc. Bothell, Washington, dated May 29, 2020). Here, AuEq values were calculated using 3-year running averages for metal price, and included provisions for metallurgical recoveries, treatment charges, refining costs, and transportation. Recoveries for Gold were 85.5%, Silver at 74.6%, Copper at 74.6% and Lead at 45.3%. It will be assumed that Zinc can be recovered with the Copper at the same recovery rate of 74.6%. The quoted reference of metallurgical recoveries is not from Goliath’s Golddigger Project, Surebet Zone mineralization, and there is no guarantee that such recoveries will ever be achieved, unless detailed metallurgical work such as in a Feasibility Study can be eventually completed on the Golddigger Project.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of the Company to complete financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.

The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.


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