Caledonia Mining Corporation Plc press release

Goliath Drills Several Holes Of High-Grade Gold Up To 10.25 g/t Au Over 7.02 Meters Within 5.20 g/t Au Over 15.00 Meters From 281m To 296m Downhole, Surebet Discovery Remains Open, Golddigger Property, Golden Triangle, B.C.

2025-11-17

NYSE - New York Stock Exchange · Jersey

Goliath Drills Several Holes Of High-Grade Gold Up To 10.25 g/t Au Over 7.02 Meters Within 5.20 g/t Au Over 15.00 Meters From 281m To 296m Downhole, Surebet Discovery Remains Open, Golddigger Property, Golden Triangle, B.C.

Assays are still pending for 80 holes from this year’s exploration campaign, of which 62 (representing 78% of the total pending) contain visible gold to the naked eye (VG-NE); see images & table 1. below. Four accompanying infographics are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/524c7677-c95d-4e7c-b706-51183ff2ed2e

https://www.globenewswire.com/NewsRoom/AttachmentNg/217dc09f-97c3-405b-8fbd-06df60d225e9

https://www.globenewswire.com/NewsRoom/AttachmentNg/e560ea18-38e1-4f88-ba2a-fbf6d42aea13

https://www.globenewswire.com/NewsRoom/AttachmentNg/e7adab72-de6a-494f-ad63-76514d74f205

Drill hole GD-25-377 intersected three separate intervals. The first being 10.25 g/t Au over 7.02 meters, within 7.16 g/t Au over 10.84 meters, within 5.20 g/t Au over 15.00 meters containing multiple occurrences of VG-NE within a zone of strong quartz-sulphide veining hosted in the Bonanza Zone that remains open. The second intercept is a broad interval of the Bonanza Zone that remains open and assayed 1.06 g/t Au over 30.00 meters, including 1.45 g/t Au over 20.04 meters, including 2.34 g/t Au over 9.01 meters, as well as an interval that assayed 8.73 g/t Au over 3.80 meters. The intercepts are approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received); see image below. Three accompanying infographics are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/b155bdf0-224f-472c-a33d-c1213d1b2e10

https://www.globenewswire.com/NewsRoom/AttachmentNg/79b95b6c-bdbe-4e18-affe-58368a639fd3

https://www.globenewswire.com/NewsRoom/AttachmentNg/45e46ff7-b414-4afc-be58-3a4e931ed322

Drill hole GD-25-332 intersected 13.38 g/t Au over 5.75 meters, including 15.83 g/t Au over 4.86 meters, including 19.87 g/t Au over 3.87 meters part of a zone of quartz-sulphide veining containing multiple occurrences of VG-NE hosted in in the Goldzilla Vein that remains open. The intercept is approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received); see image below. Two accompanying infographics are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/ac56e623-0221-460c-8bd1-a3e3f57221c1

https://www.globenewswire.com/NewsRoom/AttachmentNg/f3e489bc-7029-4c83-bc0d-d3f4145f830e

Drill hole GD-25-380 intersected 6.61 g/t Au over 5.80 meters, within 4.83 g/t Au over 8.00 meters from an interval corresponding to the Goldzilla Vein containing VG-NE in quartz-sulphide veins. The intercept is approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received); see image below. An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/d6920ea7-1b1c-4597-bb9b-9e2be8765df7

Drill hole GD-25-374 intersected 4.59 g/t Au over 8.00 meters, including 5.21 g/t Au over 7.00 meters, including 8.89 g/t Au over 3.00 meters from a zone of strong quartz-sulphide stockwork part of the Surebet Zone containing multiple occurrences of VG-NE. The intercept is approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received); see image below. Two accompanying infographics are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/a45de7bb-8375-4cd9-beb1-b50b60dcda0c

https://www.globenewswire.com/NewsRoom/AttachmentNg/4fe681eb-6ed1-4408-8ca6-a122b32e8bb1

Drilling was focussed on expanding the system as well as continue to increase the confidence level at the Surebet Discovery confirming desirable widths, grades and continuity. The results today have extended the high-grade domain by 80 meters to the NW for a total of 580 meters on the Goldzilla Vein and remains open (see plan view above).

High-grade gold has been identified in three distinct rock packages discovered to date at the Surebet Discovery. This includes the gently dipping gold-rich stacked quartz-sulphide breccias/stockwork veins; the gold-rich intermediate to felsic Eocene-aged Reduced Intrusive Related Gold (RIRG) dykes; and the recently discovered broad gold-rich zones of calc-silicate altered breccia. All mineralized rock types contain substantial amounts of VG-NE (from fine-grained to coarse-grained gold) and remain open for expansion. This confirms the presence of a Motherlode magmatic source at depth, a causative intrusion responsible for the extensive 1.8 km 2 high-grade gold system at Surebet.

The completed and fully funded 2025 drill campaign significantly exceeded the initial plans of 40,000 meters for a total of 64,364 meters of systematic drilling with 9 drill rigs. 100% of the drilling was focused on the Surebet Discovery, where the Company designed a detailed campaign that tested for the Motherlode intrusive gold source, the mineralized RIRG Eocene-aged dykes, infill drilling within the known stacked veins, as well as expanding the known mineralized veins laterally and to depth.

100% of the drill holes completed to date on Surebet have intersected substantial quartz-sulphide mineralization. VG-NE was observed in 83 drill holes out of 110 (or 76%) completed in 2025. See news releases dated: October 27, 2025, September 22, 2025, September 8, 2025, August 26, 2025, and July 28, 2025.

92% of the holes (355 out of 386) drilled to date at the Surebet Discovery contain VG-NE (see heat map below). An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/56667e97-0e90-454c-a8ae-6d5e5bdd9b4c

The Surebet Discovery has widespread drill holes representing more than 600 pierce points over an area of 1.8 km 2 , returning high metal values showing it has the potential to be an important grassroots high-grade gold discovery in the Golden Triangle.

TORONTO, Nov. 17, 2025 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) ( the “Company” or “Goliath”) is pleased to announce additional assay results from its 2025 drill program where drill hole GD-25-377 intersected three separate mineralized intervals up to 10.25 g/t Au over 7.02 meters, within 7.16 g/t Au over 10.84 meters, within 5.20 g/t Au over 15.00 meters containing multiple occurrences of VG-NE within a zone of strong quartz-sulphide veining hosted in the Bonanza Zone that remains open at the Surebet Discovery on its 100% controlled Golddigger Property (the “Property”), Golden Triangle, British Columbia. Assay results from the Surebet Discovery continue to confirm desirable widths and grades with consistent continuity. These results have extended the high-grade core by 80 meters to the NW for a total of 580 meters and remains open. Remaining drill results from the 2025 drill season have strong potential to continue to provide desirable widths and grades and continuity as observed thus far.

100% of the drill holes completed to date on Surebet have intersected substantial quartz-sulphide mineralization as well as 83 of the 110 drill holes (or 76%) from 2025 contain gold visible to the naked eye (VG-NE) clearly demonstrating the discovery potential remaining on the property.

Assays are still pending for 80 holes from this year’s exploration campaign, of which 62 (representing 78% of the pending holes) contain VG-NE (see images above).

Mr. Roger Rosmus, Founder & CEO of Goliath states: “The Surebet high-grade gold discovery continues to consistently deliver good assay results, which clearly shows continuity and predictability. Particularly noted by the vast distribution of VG-NE in drill holes spanning an area for over 1,200 metres from northwest to southeast, over 1,000 meters from northeast to southwest and over 800 meters of vertical relief. Within that area are a series of gently dipping stacked veins that dip to the southwest, and another series of gently dipping stacked veins that dip to the southeast. They remain open in the down dip direction of both, suggesting that both could have separate sources feeding each series of stacked veins that would be over 4,000 metres apart. Or one magmatic event that is feeding from either side of it. Equally as impressive are the vertical RIRG dykes coming up through stacked veins, which suggests that there is a magma chamber below the entire mineralized area. At the intersections of the gently dipping veins and the vertical RIRG dykes (called Goldilocks zones) there are two temperature regimes for the VG-NE enriching the zones. Plus, we have found VG-NE within a third rock package with minimal drilling into those zones. Collectively, it is apparent that we are nowhere near the limits of the system, in fact, there is a good chance that we may only be halfway down the various zones with plenty more room to grow the system. Our team looks forward to receiving the assays from remaining holes so we can update the 3D model.”

Drilling was focused on expanding the Surebet high-grade gold discovery and has intersected high-grade gold mineralization in multiple drill holes along 580 meters of strike, delineating broad zones of high-grade gold mineralization within the Surebet-Bonanza intersection domains as well as the Goldzilla Vein confirming desirable grades, widths and continuity as demonstrated by drill results to date.

Drill hole GD-25-377 intersected three separate intervals. The first assayed 10.25 g/t Au over 7.02 meters, within 7.16 g/t Au over 10.84 meters, within 5.20 g/t Au over 15.00 meters containing multiple occurrences of VG-NE within a zone of strong quartz-sulphide veining hosted in the Bonanza Zone that remains open. The second intersected a broad interval of the Bonanza Zone that remains open and assayed 1.06 g/t Au over 30.00 meters, including 1.45 g/t Au over 20.04 meters, including 2.34 g/t Au over 9.01 meters, as well as a third interval that assayed 8.73 g/t Au over 3.80 meters. Drill hole GD-25-332 intersected 13.38 g/t Au over 5.75 meters, including 15.83 g/t Au over 4.86 meters, including 19.87 g/t Au over 3.87 meters part of a zone of quartz-sulphide veining containing multiple occurrences of VG-NE hosted in in the Goldzilla Vein that remains open. Drill hole GD-25-380 intersected 6.61 g/t Au over 5.80 meters, within 4.83 g/t Au over 8.00 meters from an interval corresponding to the Goldzilla Vein containing VG-NE in quartz-sulphide veins. Drill hole GD-25-374 intersected 4.59 g/t Au over 8.00 meters, including 5.21 g/t Au over 7.00 meters, including 8.89 g/t Au over 3.00 meters from a zone of strong quartz-sulphide stockwork part of the Surebet Zone containing multiple occurrences of VG-NE.

All intercepts are approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received). The gold grades, coupled with VG-NE within substantial quartz-sulphide veins, stockworks, and breccias, which are mineralized with sphalerite, pyrrhotite, and chalcopyrite, highlight the potential for further expansion.

Table 1: Collar information for VG-NE drill holes reported in this news release.

Hole ID CRS Easting Northing Elevation (m) Azimuth Dip Length (m) Number of VG-NE occurrences

GD-25-102 NAD83 UTM 9N 457699 6162437 1133 230 65 214 5

GD-25-244 NAD83 UTM 9N 457381 6162945 1623 165 80 745 1

GD-25-254 NAD83 UTM 9N 457256 6162711 1474 110 74 828 2

GD-25-267 NAD83 UTM 9N 457938 6162554 1137 195 60 450 1

GD-25-301 NAD83 UTM 9N 457445 6162773 1513 168 58 702 2

GD-25-303 NAD83 UTM 9N 457364 6162754 1508 157 61 676 5

GD-25-305 NAD83 UTM 9N 457447 6162774 1513 155 54 687 2

GD-25-306 NAD83 UTM 9N 457214 6162332 1220 342 58.5 346 4

GD-25-308 NAD83 UTM 9N 457364 6162756 1509 160 67 705 4

GD-25-310 NAD83 UTM 9N 457214 6162332 1219 28 62 509 1

GD-25-311 NAD83 UTM 9N 457446 6162775 1514 143 65 810 7

GD-25-312 NAD83 UTM 9N 457365 6162756 1509 150 71 681 5

GD-25-315 NAD83 UTM 9N 457218 6162331 1219 63 63 486 1

GD-25-316 NAD83 UTM 9N 456927 6163020 1651 150 76 723 5

GD-25-319 NAD83 UTM 9N 457365 6162754 1505 141 62 629 3

GD-25-322 NAD83 UTM 9N 457214 6162332 1219 250 70 594 2

GD-25-323 NAD83 UTM 9N 456927 6163020 1652 90 80 620 5

GD-25-325 NAD83 UTM 9N 457365 6162755 1509 128 88 669 3

GD-25-326 NAD83 UTM 9N 457236 6162867 1586 23 80 734 2

GD-25-327 NAD83 UTM 9N 457016 6162593 1388 5 65 459 1

GD-25-329 NAD83 UTM 9N 457444 6162778 1515 330 80 685 1

GD-25-330 NAD83 UTM 9N 457326 6162856 1582 206 73 681 1

GD-25-331 NAD83 UTM 9N 457815 6162506 1144 194 83 360 2

GD-25-333 NAD83 UTM 9N 457365 6162757 1509 127 71 798 4

GD-25-335 NAD83 UTM 9N 457015 6162587 1387 180 60 498 3

GD-25-336 NAD83 UTM 9N 456710 6162961 1639 315 75 606 1

GD-25-339 NAD83 UTM 9N 457236 6162865 1586 120 70 792 3

GD-25-341 NAD83 UTM 9N 456927 6163020 1652 310 75 615 1

GD-25-342 NAD83 UTM 9N 457815 6162511 1146 335.5 70 350 2

GD-25-344 NAD83 UTM 9N 457319 6162857 1585 265 77 705 1

GD-25-348 NAD83 UTM 9N 457413 6163252 1733 115 65 1001 1

GD-25-349 NAD83 UTM 9N 457817 6162512 1145 50 65 756 2

GD-25-351 NAD83 UTM 9N 457235 6162738 1489 170 57 723 4

GD-25-352 NAD83 UTM 9N 457038 6162952 1604 42 76 847 3

GD-25-356 NAD83 UTM 9N 457235 6162865 1586 181 70.5 643 6

GD-25-357 NAD83 UTM 9N 456865 6162628 1451 135 65 525 1

GD-25-361 NAD83 UTM 9N 457191 6163128 1712 160 85 699 2

GD-25-363 NAD83 UTM 9N 457411 6163251 1733 175 68 901 1

GD-25-366 NAD83 UTM 9N 457399 6162901 1606 210.5 69 705 5

GD-25-367 NAD83 UTM 9N 457235 6162864 1585 213 74 651 11

GD-25-368 NAD83 UTM 9N 457485 6163165 1706 250 77 690 2

GD-25-369 NAD83 UTM 9N 457319 6162859 1585 310 85 738 1

GD-25-371 NAD83 UTM 9N 457190 6163130 1712 40 86 681 1

GD-25-375 NAD83 UTM 9N 457486 6163164 1706 250 85 747 1

GD-25-376 NAD83 UTM 9N 457235 6162864 1585 217 81 640 8

GD-25-378 NAD83 UTM 9N 457465 6163019 1634 260 85 603 3

GD-25-379 NAD83 UTM 9N 457189 6163129 1712 268 85 614 1

GD-25-381 NAD83 UTM 9N 457511 6163074 1660 115 65.9 360 1

GD-25-382 NAD83 UTM 9N 457591 6162372 1119 215 45 160 1

GD-25-383 NAD83 UTM 9N 457401 6162902 1607 147 65.5 828 6

GD-25-386 NAD83 UTM 9N 457512 6163073 1660 129 56 459 3

GD-25-389 NAD83 UTM 9N 457849 6162680 1209 170 70 483 1

GD-25-392 NAD83 UTM 9N 457757 6162595 1200 280 55 423 1

GD-25-393 NAD83 UTM 9N 457322 6162859 1585 5 68 702 2

GD-25-395 NAD83 UTM 9N 457402 6162902 1606 105 65 801 1

GD-25-398 NAD83 UTM 9N 457596 6162373 1119 140 50 273 1

GD-25-400 NAD83 UTM 9N 457598 6162374 1119 147 83 309 2

GD-25-401 NAD83 UTM 9N 457881 6162620 1179 210 80 600 1

GD-25-403 NAD83 UTM 9N 457467 6163017 1633 147 83 600 3

GD-25-405 NAD83 UTM 9N 457763 6162595 1200 82 74.5 312 5

GD-25-407 NAD83 UTM 9N 457399 6162904 1608 350 82 395 2

GD-25-410 NAD83 UTM 9N 457976 6162659 1174 22.5 66 216 2

Table 2: Assay highlights from 2025 drill holes reported in this news release.

Hole ID From (m) To (m) Interval (m) Au (g/t)

GD-25-377

Interval 281.00 296.00 15.00 5.20

including 283.00 293.84 10.84 7.16

including 285.96 292.98 7.02 10.25

Interval 296.00 326.00 30.00 1.06

Including 296.00 316.04 20.04 1.45

Including 304.00 313.01 9.01 2.34

Interval 456.00 459.80 3.80 8.73

GD-25-332

Interval 171.25 177.00 5.75 13.38

including 171.25 176.11 4.86 15.83

including 172.24 176.11 3.87 19.87

GD-25-380

Interval 289.00 297.00 8.00 4.83

Including 290.15 295.95 5.80 6.61

GD-25-374

Interval 373.00 381.00 8.00 4.59

including 373.00 380.00 7.00 5.21

including 378.00 381.00 3.00 8.89

High-grade gold mineralization has been confirmed in three distinct rock packages at the Surebet Discovery, which include: gently dipping gold-rich mineralized stacked quartz-sulphide breccias/stock work 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-NE (from fine-grained to coarse-grained gold) and remain 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 3: Collar information for assayed drill holes reported in this news release.

Hole ID CRS Northing (m) Easting (m) Elevation (m) Azimuth (deg) Dip (deg) Length (m)

GD-25-380 NAD83 / UTM zone 9N 6162950 457037 1604 183 83 693

GD-25-377 NAD83 / UTM zone 9N 6162742 457231 1488 295 70 519

GD-25-374 NAD83 / UTM zone 9N 6162951 457040 1603 99 76 666

GD-25-332 NAD83 / UTM zone 9N 6163020 456927 1653 10 75 708

The 2025 drill consisted of 64,364 meters of systematic drilling with 9 drill rigs. The campaign was aimed at expanding the geometry of the Surebet Discovery laterally and to depth. 100% of the drilling was focused on the Surebet Discovery. The Company designed a detailed drill plan that consisted of: testing for the Motherlode Magmatic intrusive gold source; testing an additional 13 Eocene-aged dykes observed on the surface that had 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.

Surebet Discovery Highlights

83 out of 110 holes (or 76%) drilled in 2025 contain VG-NE and 100% of drill holes have intersected substantial quartz-sulphide mineralization. Assays are still pending for 80 holes from this year’s exploration campaign, of which 62 (representing 78% of the total pending) contain visible gold to the naked eye ( VG-NE). See news releases dated: October 27, 2025, September 22, 2025, September 8, 2025, August 26, 2025, and July 28, 2025.

60 out of 64 holes (or 94%) drilled in 2024 contain VG-NE up to 11.5 mm (7/16 inches) in size, all of which returned high-grade gold. See news releases dated: July 7, 2025, June 23, 2025, January 7, 2025, January 13, 2025, February 10, 2025, February 18, 2025, February 27, 2025, December 12, 2024 and July 30, 2024.

92% of the holes (355 out of 386) drilled to date at Surebet contain VG-NE (see heat map above).

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). ). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below.

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). ). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below.

The best hole drilled to date from the calc-silicate altered breccia is drill hole GD-25-337, which intersected 10.60 g/t Au over 22.82 meters, including 15.19 g/t Au over 15.71 meters, including two separate intervals consisting of 37.28 g/t Au or 1.20 oz/t Au over 3.36 meters and 36.11 or 1.16 oz/t Au over 3.08 meters. The intercept is approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received). ). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below.