Goliath Reports Up To 8.09 G/T AuEq Over 16.00 Meters, Assays Confirm Gold Mineralization In Expanded Bonanza and Golden Gate Zones On High-Grade Gold Surebet Discovery, Golden Triangle, B.C.

2026-08-06

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Assay results from multiple gold-rich drill intercepts from 2026 drilling, have confirmed expansion of the Bonanza and Golden Gate Zones that remain open (see Figure 1):

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/45899e21-381f-40d6-b035-8a62137933c8

Gold mineralization has been confirmed with assays from drill hole GD-26-417 expanding the Bonanza and Golden Gate zones by 540 meters to the southwest. Assays are pending on additional drill holes in these areas that could potentially confirm the expansion of the Bonanza and Golden Gate zones up to 750 meters to the southwest. Gold mineralization has been confirmed with assays from drill hole GD-26-418 expanding the Bonanza Zone 100 meters to the north and remains open. Assays are pending on additional drill holes in these areas that could potentially confirm the expansion of the Bonanza zone up to 200 meters to the north. Gold mineralization has been confirmed with assays from drill hole GD-26-425 expanding the Bonanza Zone 100 meters to the west and remains open. Assays are pending on additional drill holes in these areas that could potentially confirm the expansion of the Bonanza zone up to 200 meters to the west.

Drill hole GD-26-418 had two separate gold mineralization intercepts. The first from Surebet Zone, intercepted 8.09 g/t AuEq over 16.00 m, including 18.39 g/t AuEq over 6.75 meters, including 39.99 g/t AuEq over 1.00 meters and 74.67 g/t AuEq over 1.10 meters in an interval characterized by multiple occurrences of visible gold to the naked eye (VG-NE) hosted in quartz-sulphide stockwork and breccia. The second from Bonanza Zone expansion to the north that assayed 4.42 g/t AuEq over 5.00 meters, including 7.78 g/t AuEq over 2.79 meters, including 23.76 g/t AuEq over 0.90 meters; it remains open. This interval also contains several occurrences of VG-NE hosted in quartz-sulphide veins (see Figure 2a, 2b and 2c).

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/e1708f2f-8ae4-4bdf-afa0-621759abcc39 An accompanying infographic is available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/3e8d34ea-7238-4a10-b981-6bb68b090712

_*For reported assay intervals and AuEq calculation please see QA/QC Section on page 17_

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/aec0f783-ae34-479d-8066-388c2b0f57aa

_*For reported assay intervals and AuEq calculation please see QA/QC Section on page 17_

Drill hole GD-26-417 intersected a newly discovered mineralized zone, that extends over 58.00 meters grading 0.52 g/t Au, including 1.00 g/t Au over 9.00 meters within the southwest extension zone (gold only), a wedge-like intercept that sits between Bonanza & Golden Gate Zones (see image below). Multiple occurrences of VG-NE have been identified within this long interval of frequent tightly spaced quartz-sulphide veins and veinlets located right below the sedimentary-volcanic contact. An additional interval of quartz-sulphide veining containing VG-NE that assayed 2.13 g/t Au over 5.00 meters, including 8.96 g/t Au over 1.00 meters was intercepted lower down and is part of the Golden Gate Zone that remains open (see Figures 3a and 3b).

An accompanying infographic is available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/f47db4a7-edf9-46c2-b42b-94e8cf26fa9a An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/11d0f532-4d19-4cfb-aa34-0a4bab4dcbe5

_*For reported assay intervals and AuEq calculation please see QA/QC Section on page 17_

Drill hole GD-26-425 intersected an extensive interval of frequent quartz-sulphide veins and veinlets that assayed 1.11 g/t Au over 17.20 meters, including 3.96 g/t Au over 3.20 meters, including 7.28 g/t Au over 1.07 meters (gold only) located immediately below the sedimentary-volcanic contact (see Figures 4a and 4b). An accompanying infographic is available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/2e075c34-bd8d-4da6-acc3-2b8772393a95

_*For reported assay intervals and AuEq calculation please see QA/QC Section on page 17_

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/0e18c52f-8bb9-47d3-b3b4-d23e5ddb4f39

Visible Gold to the Naked Eye (VG-NE) has been intersected in multiple veins and shear zones from 20 out of 35 holes drilled in 2026 (see Figures 5a and 5b) continuing to confirm consistency of gold mineralization within the Surebet lode/vein system that remains open laterally and at depth.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/3cec0fe2-93c0-47ca-9b38-8b128523716d An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/81342574-d84d-41bc-81b1-46772989f827

All drill holes from the 2026 drill program completed to date have intersected quartz-sulphide mineralization which typically coincide with high-grade gold mineralization. 35 out of 98 planned drill holes have been completed with a total of 19,931 meters drilled in 2026.

The fully funded 2026 drill program comprises approximately 50,000 meters of systematic drilling, including 7 drill rigs targeting expansion of the known gold mineralization laterally and at depth. Expansion drilling will continue to focus on extending the footprint of the Bonanza and Golden Gate Zones to the East and Northeast, as well as expanding the Surebet Zone to the West. Directional drilling consisting of multiple holes stemming from a single ‘mother’ hole is being used on selected drill pads in order to minimize drill time and costs while increasing target accuracy.

TORONTO, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”)is pleased to report initial assay results confirming substantial gold mineralization resulting in the expansion of the Bonanza Zone as well as the Golden Gate Zone on its 100% owned Golddigger Property (the “Property”), Golden Triangle, British Columbia. Strong gold assay results have confirmed the expansion of the Bonanza and Golden Gate Zones and remain open laterally and at depth.

Mr. Roger Rosmus, Founder & CEO of Goliath states:_“Our 2026 drilling program is off to a fantastic start with the initial assay results that continue to confirm a wide open high-grade gold system with exceptional continuity and predictability. As can be seen in the 750 meter step-out hole (an aggressive step out in a high-grade gold system) that tagged the system where our team predicted it would be located, which is no small feat. One of the key goals of our 2026 drilling season is stepping out to expand the known zones, and we are delighted with how we are meeting that goal. What makes Surebet unique is the widespread VG-NE in the vast majority of our drill holes, and that the high-grade gold is found in 3 distinct rock packages that suggests a long-lived and powerful gold mineralizing system. In addition, the stacked lodes/veins are all very close to each other with the vertical dykes cutting through them making for an attractive potential mining scenario. Our drilling team, geology team and support staff are elite as year after year they continue to do a tremendous job of drilling in mountainous terrain. We are all excited about the high-grade gold system remains wide open in the mountainous part and as we get some holes very close to the valley floor. With all the drilling and pending assays, we should have excellent news flow from now until the end of 2026 that will likely spill over into 2027. Surebet continues the trend of getting bigger and bigger with every drill program, and also rewards us with pleasant surprises along the way, and is delivering on this trend again during our 2026 drilling program”_

Drill hole GD-26-417 (Pad 2, Azimuth 90.5, Dip 48) intersected an extensive interval of 0.52 g/t Au over 58.00 meters at the Bonanza Zone, including 1.00 g/t Au over 9.00 meters within the southwest extension zone of the Surebet System. Multiple occurrences of VG-NE have been identified within this interval that are coincident with broad zones of frequent tightly spaced quartz-sulphide veins and veinlets located right below the sedimentary-volcanic contact. An additional interval of quartz-sulphide veining containing VG-NE that assayed 2.13 g/t Au over 5.00 meters, including 8.96 g/t Au over 1.00 meters was intercepted deeper at the Golden Gate Zone.

Drill hole GD-26-418 (Pad 15, Azimuth 310, Dip 79) intercepted 8.09 g/t AuEq over 16.00 meters, including 18.39 g/t AuEq over 6.75 meters, including 39.99 g/t AuEq over 1.00 meters and 74.67 g/t AuEq over 1.10 meters in an interval characterized by multiple occurrences of VG-NE hosted in quartz-sulphide stockwork and breccia part of the Surebet Zone. A second interval that assayed 4.42 g/t AuEq over 5.00 meters, including 7.78 g/t AuEq over 2.79 meters, including 23.76 g/t AuEq over 0.90 meters expanded the Bonanza Zone to the north where it remains open. This interval also contains several occurrences of VG-NE hosted in quartz-sulphide veins.

Drill hole GD-26-425 (Pad 5, Azimuth 110, Dip 68) at the Bonanza Zone intersected an extensive interval of frequent tightly spaced quartz-sulphide veins and veinlets that assayed 1.11 g/t Au over 17.20 meters, including 3.96 g/t Au over 3.20 meters, including 7.28 g/t Au over 1.07 meters located immediately below the sedimentary-volcanic contact.

Additional drill holes that expanded the Bonanza and Golden Gate Zones include drill hole GD-26-413 (Pad 2, Azimuth 205, Dip 70) which intersected 1.98 g/t Au over 3.00 meters, including 5.68 g/t Au over 1.00 meters, as well as GD-26-416 (Pad 4, Azimuth 140, Dip 71) which intersected 1.57 g/t Au over 3.02 meters. including 4.61 g/t Au over 1.00 meters.

All drill holes completed during the 2026 drill program have intersected quartz-sulphide mineralization which typically coincides with high-grade gold mineralization. 35 out of 98 planned drill holes have been completed with a total of 19,931 meters drilled in 2026.

Table 1: Gold equivalent and gold only assay results.

| Hole ID | | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu % | Pb % | Zn % | AuEq (g/t) | | GD-26-418 | Interval | 279.00 | 295.00 | 16.00 | 7.34 | 35.56 | 0.02 | 0.53 | 0.31 | 8.09 | | Including | 283.00 | 292.05 | 9.05 | 12.84 | 59.78 | 0.02 | 0.92 | 0.52 | 14.09 | | | Including | 283.95 | 292.05 | 8.10 | 14.31 | 65.51 | 0.02 | 1.01 | 0.53 | 15.67 | | | Including | 285.30 | 292.05 | 6.75 | 16.86 | 73.80 | 0.02 | 1.12 | 0.59 | 18.39 | | | Including | 285.30 | 286.30 | 1.00 | 38.56 | 65.82 | 0.03 | 1.07 | 0.75 | 39.99 | | | and | 290.95 | 292.05 | 1.10 | 67.15 | 368.00 | 0.07 | 5.54 | 2.78 | 74.67 | | | Interval | 355.15 | 358.50 | 3.35 | 1.01 | 18.62 | 0.01 | 0.37 | 0.82 | 1.59 | | | Interval | 514.00 | 519.00 | 5.00 | 4.36 | 2.28 | 0.01 | 0.01 | 0.04 | 4.42 | | | Including | 516.21 | 519.00 | 2.79 | 7.70 | 3.56 | 0.01 | 0.01 | 0.05 | 7.78 | | | Including | 517.10 | 518.00 | 0.90 | 23.54 | 10.17 | 0.01 | 0.03 | 0.14 | 23.76 | | | GD-26-417 | Interval | 214.00 | 272.00 | 58.00 | 0.52 | | | | | | | Including | 236.00 | 248.00 | 12.00 | 0.94 | | | | | | | | Including | 236.00 | 245.00 | 9.00 | 1.00 | | | | | | | | GD-26-417 | Interval | 285.00 | 290.00 | 5.00 | 2.13 | | | | | | | Including | 285.00 | 288.00 | 3.00 | 3.42 | | | | | | | | Including | 286.00 | 287.00 | 1.00 | 8.96 | | | | | | | | GD-26-425 | Interval | 299.80 | 317.00 | 17.20 | 1.11 | | | | | | | Including | 304.70 | 313.00 | 8.30 | 1.93 | | | | | | | | Including | 304.70 | 307.90 | 3.20 | 3.96 | | | | | | | | Including | 304.70 | 305.77 | 1.07 | 7.28 | | | | | | | | GD-26-413 | Interval | 465.00 | 468.00 | 3.00 | 1.98 | | | | | | | Including | 466.00 | 467.00 | 1.00 | 5.68 | | | | | | | | GD-26-416 | Interval | 363.78 | 366.80 | 3.02 | 1.57 | | | | | | | Including | 364.90 | 365.90 | 1.00 | 4.61 | | | | | | |

The expanded Bonanza Zone has a strike of 1.8 km NW-SE and 1.8 km NE-SW (see Figure 6). Ore mineralization in drill core from the expanded portions of the Bonanza is characterized by the presence of local VG-NE as well as sphalerite and pyrrhotite over relatively broad intervals (up to 7 meter) consisting of sheared quartz-sulphide breccia. Previously, the Bonanza Zone contained 5 lodes up to 19 meters thick with a combined thickness of up to 27 meters and intercepts up to 8.35 g/t AuEq (8.31 g/t Au and 2.30 g/t Ag) over 23.00 meters (drill hole GD-24-280) (see Figure 6).

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a729c3f0-21d8-4b6e-abf8-64f0a71b35d6

The expanded Golden Gate Zone has a strike of 1.6 km E-W and 1.5 km N-S (see Figure 7). Mineralization in drill core from the expanded portions of the Golden Gate Zone is characterized by sets of veins and veinlets hosted in andesitic volcanic rocks and mineralized with VG-NE, sphalerite, galena, pyrrhotite as well as trace pyrite and chalcopyrite. Previously the Golden Gate Zone contained 18 lodes up to 14 meters with a combined thickness of up to 49 meters and with intercepts up to 34.52 g/t AuEq (34.47 g/t Au and 3.96 g/t Ag) over 39.00 meters (drill hole GD-24-260) and remains open for expansion (see Figure 7).

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/5c896718-f0ec-4b3a-926b-555fcfc2d3ab

Visible Gold to the Naked Eye (VG-NE) has been intersected in multiple veins and shear zones from 20 out of 35 holes drilled in 2026, continuing to confirm the consistency of gold mineralization within the Surebet system that remains open.

The fully funded 2026 drill program is underway and will include approximately 50,000 meters of systematic drilling designed to expand the known gold mineralization laterally and to depth (all stacked mineralized lodes/veins remain open for expansion), as well as to test for a causative magmatic gold feeder source.

Expansion drilling will focus on extending the footprint of the Bonanza Zone and Golden Gate Zone to the East and Northeast, as well as expanding the Surebet Zone to the West and testing other gold-rich mineralized lodes/veins that remain open. Additional drilling will be allocated to test a number of lithological-structural features linked to magnetic anomalies indicative of a causative magmatic gold feeder source. Directional drilling is being used at selected drill pads to minimize drill time and costs while also increasing the target accuracy.

Table 2: Collar information for drill holes reported in this news release.

| Hole ID | CRS | Easting (m) | Northing (m) | Elevation (m) | Azimuth (deg) | Dip (deg) | Length (m) | | GD-26-413 | NAD83 / UTM zone 9N | 457178 | 6161738 | 936 | 205.4 | 69.9 | 606 | | GD-26-416 | NAD83 / UTM zone 9N | 456710 | 6162961 | 1635 | 140 | 71 | 478 | | GD-26-417 | NAD83 / UTM zone 9N | 457178 | 6161738 | 936 | 90.5 | 48 | 357 | | GD-26-418 | NAD83 / UTM zone 9N | 457190 | 6163127 | 1712 | 310 | 79 | 607 | | GD-26-425 | NAD83 / UTM zone 9N | 456762 | 6162467 | 1402 | 110 | 68 | 459 |

Surebet Discovery Highlights

100% of the drill holes completed prior to the 2026 drill season have intersected gold mineralization, clearly demonstrating remarkable grade continuity and widths, with over 1,500 drill hole pierce points. The most recent ore mineralization model (see Figure 8) incorporating all available data prior to the 2026 drill program identified five (5) stacked gold-mineralized vein systems/zones: Bonanza, Surebet, Golden Gate, Whopper, and Eldorado. Collectively these zones comprise 46 gold-rich lodes/veins and multiple subvertical Eocene-aged dyke swarms.

Table 3: Five main modelled gold rich zones and dykes.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/370ea0af-a3ae-4ea3-a7e1-e38aa927cce8

355 out of 386 drill holes representing 92% of holes drilled between 2021 – 2025 at Surebet contain VG-NE (see Figure 9):

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/5481e7f6-f155-44e2-ae13-269828232575

High-grade gold has been identified in three distinctive rock types, including: quartz-sulphide breccias and stockwork veins hosted in the sedimentary units; precious and base metals bearing veins hosted in the volcanic units; and intermediate to felsic Eocene-aged dykes. All mineralized rock types contain substantial amounts of VG-NE (from fine-grained to coarse-grained gold) and remain open for expansion. Metallurgical testing conducted on a composite core sample resulted in metal recoveries of 92.2% for Au, 86.5% for Ag, 94.2% for Pb and 96.9% for Zn achieved through a combination of simple gravity and flotation circuits. The gravity-only recoveries amount to 48.8% Au and 10.3% Ag with a crush size of 327 micrometer (no cyanide leaching required to recover the gold and silver). The metallurgical testing completed to date shows a benign rock composition without deleterious elements (see news release March 1, 2023). The consistent continuity, widths and grade of ore mineralization demonstrated by >156,000 meters of drilling in multiple stacked lodes/veins confirms that the 1.8 km2 Surebet Discovery continues to demonstrate strong potential to become one of the most significant high-grade gold discoveries in British Columbia’s Golden Triangle in many years. 92% of the holes (355 out of 386) drilled prior to the 2026 drill season at Surebet contain VG-NE (see Figure 5a and 5b) and 100% of holes drilled to date at the Surebet Discovery have intersected substantial quartz-sulphide mineralization. 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, July 30, 2024, January 20, 2026, December 2, 2025, November 17, 2025, October 27, 2025, September 22, 2025, September 8, 2025, August 26, 2025, and July 28, 2025.

The best hole drilled to date from the gold-rich stacked quartz-sulphide breccias and stockwork veins hosted in the sedimentary units is GD-23-157 that assayed 21.08 g/t AuEq (18.95 g/t Au and 95.31 g/t Ag) over 23.00 meters, including 33.75 g/t AuEq (30.39 g/t Au and 150.42 g/t Ag) over 14.00 meters, including 50.27 g/t AuEq (45.27 g/t Au and 225.42 g/t Ag) over 9.00 meters (see news release dated August 15, 2023). 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 precious and base metals bearing veins hosted in the volcanic units is GD-24-260 from the Golden Gate Zone that 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 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. A study completed by the Colorado School of Mines confirms a new interpretation of the ore forming process at Surebet and suggests a common magmatic source for the high-grade gold system hosted in three distinct rock types. Until this study, researchers and explorers in the Golden Triangle had not recognized the high-grade gold discovery potential in the Eocene-aged 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. 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 the Red Line geologic trend providing for additional discovery potential. The Golddigger Property is located adjacent to tidewater with a barge route to Prince Rupert (190 km south) and close to existing infrastructure including the town of Kitsault proximal to a permitted mine site on private property.

Earlier from McEwen Inc.

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