Goliath Drills 9.39 g/t AuEq Over 10.17 Meters And Updates Model With 4 New Gold Veins For A Total Of 12 Stretching Vertically For 1.2 km And Spread Over A 1.8 km2 Area That Remain Open On Surebet, Golden Triangle, B.C.

2025-02-27

TSXV - TSX Venture Exchange · Uranium · Rare Earth Elements · Gold · Canada

Drilling Highlights:

Multiple intercepts of stacked layers (often in one drill hole) containing high-grade gold mineralization assaying up to 9.39 g/t AuEq (8.99 g/t Au and 12.21 g/t Ag) over 10.17 meters within 7.33 g/t AuEq (7.01 g/t Au and 9.70 g/t Ag) over 13.10 meters have been confirmed in the Surebet Zone, Bonanza Shear and Golden Gate zone, as well as 4 additional new stacked gold veins now totalling 12 stretching vertically over 1.2 km, demonstrating the untapped discovery potential and consistent high grades and widths of the gold-mineralized stacked layers in the Surebet system that measures 1.8 km 2 and remains wide open.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a4ae8806-d320-4cbf-9429-cb38235852db

All 8 original layers identified through drilling and modelling on Surebet (Surebet Upper, Surebet Lower, Bonanza, Golden Gate, Whopper, Goldzilla, Eldorado and Big One) have all been significantly expanded and remain wide open with strong additional expansion potential. 4 new zones have been confirmed and modelled in 2024 bringing the total gold-rich stacked layers to 12, all of which remain wide open for expansion. One new high-grade zone located between Surebet Lower and Bonanza assayed up to 45.60 g/t AuEq (45.36 g/t Au and 19.45 g/t Ag) over 5.95 meters (previously reported December 12, 2024) and is characterized by high-concentration of visible gold within mostly quartz-rich breccia and vein stockwork. The Surebet system remains wide open laterally and to depth with gold mineralization confirmed over an area of 1.8 km 2 and stretched vertically over 1.2 km depth.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/7cc67db2-5e23-423e-a33f-d9d6bb16ce21 An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/d6a8253e-90cb-4722-b208-f362e2a27cd0

Strong gold mineralization has been confirmed with assays in 100% of 243 widespread drill holes containing >300 intercepts to date within a 1.8 km 2 area. Confirmation of multiple stacked gold veins and widespread gold rich reduced intrusion feeder dykes, confirms the continuity of the widths and grades at Surebet. Demonstrating this world class gold system has tremendous additional untapped expansion potential remaining.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/b0963e10-48c2-40d2-b4d1-8f2e02864a0b

Deep high-grade gold mineralization up to 12.67 g/t AuEq (12.39 g/t Au and 19.74 g/t Ag) over 5.00 meters has been confirmed in the lower Golden Gate zone from 603.00 - 608.00 meters downhole in one of the deepest zones discovered to date located just above the valley floor. The Golden Gate zone remains wide open, demonstrating the exceptional additional discovery potential at depth.

GD-24-254 intercepted multiple stacked layers of strong gold mineralization consisting of high-grade quartz-sulphide veining and breccias with multiple occurrences of visible gold, sphalerite and galena that remains open: Whopper: 5.15 g/t AuEq (4.87 g/t Au and 14.05 g/t Ag) over 2.76 meters. Surebet Upper: 3.54 g/t AuEq (3.28 g/t Au and 9.30 g/t Ag) over 3.03 meters. Bonanza: 7.33 g/t AuEq (7.01 g/t Au and 9.70 g/t Ag) over 13.10 meters, including 9.39 g/t AuEq (8.99 g/t Au and 12.21 g/t Ag) over 10.17 meters, including 18.06 g/t AuEq (17.29 g/t Au and 22.75 g/t Ag) over 5.00 meters Bonanza: 4.08 g/t AuEq (4.02 g/t Au and 4.49 g/t Ag) over 4.00 meters. Golden Gate: 12.67 g/t AuEq (12.39 g/t Au and 19.74 g/t Ag) over 5.00 meters.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/47cc2b3c-1c97-4196-83ed-70c2244d94b5

Bonanza: 5.91 g/t AuEq (5.47 g/t Au and 17.45 g/t Ag) over 5.00 meters, including 9.84 g/t AuEq (9.10 g/t Au and 28.89 g/t Ag) over 3.00 meters. Bonanza: 4.44 g/t AuEq (4.36 g/t Au and 4.76 g/t Ag) over 1.80 meters. Bonanza: 3.14 g/t AuEq (3.09 g/t Au and 2.01 g/t Ag) over 5.00 meters, including 4.54 g/t AuEq (4.47 g/t Au and 3.23 g/t Ag) over 3.00 meters.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/3f9c6ca3-56da-4b69-96cd-baa66598d178

GD-24-269 intercepted 2 exceptional layers of quartz-sulphide breccia containing pyrrhotite, and minor sphalerite, galena and chalcopyrite and remain open: Surebet Upper: 4.34 g/t AuEq (2.10 g/t Au and 186.42 g/t Ag) over 8.00 meters, including 4.77 g/t AuEq (2.36 g/t Au and 200.28 g/t Ag) over 7.00 meters. Surebet Lower: 4.18 g/t AuEq (3.22 g/t Au and 83.68 g/t Ag) over 3.00 meters.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/c349008b-d356-4bf9-9152-24947ef6ef6d

GD-24-245 intercepted 4 layers consisting of densely stacked mineralized quartz-sulphide veins that remain open containing visible gold, pyrrhotite and minor sphalerite: Goldzilla: 3.09 g/t AuEq (2.47 g/t Au and 26.44 g/t Ag) over 3.00 meters.

New Zone: 4.02 g/t AuEq (3.75 g/t Au and 14.39 g/t Ag) over 3.00 meters. Surebet Upper: 6.91 g/t AuEq (6.88 g/t Au and 2.15 g/t Ag) over 5.00 meters, including 11.46 g/t AuEq (11.42 g/t Au and 3.25 g/t Ag) over 3.00 meters. Bonanza: 4.44 g/t AuEq (4.14 g/t Au and 12.57 g/t Ag) over 8.00 meters, including 6.46 g/t AuEq (6.12 g/t Au and 15.27 g/t Ag) over 5.00 meters.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/bfbf9dce-e83a-43ec-9a49-bf35dc193754

GD-24-264 intercepted 2 mineralized layers with multiple sheared quartz-sulphide veins that remain open containing visible gold and minor galena and sphalerite: Bonanza: 3.09 g/t AuEq (3.05 g/t Au and 1.73 g/t Ag) over 3.00 meters. Bonanza: 2.28 g/t AuEq (2.22 g/t Au and 2.37 g/t Ag) over 21.00 meters, including 4.01 g/t AuEq (3.91 g/t Au and 4.13 g/t Ag) over 8.00 meters.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/74a23c7d-2edc-4557-9ca9-ae399c05585a

GD-24-297 intercepted 2 broad gold mineralized layers consisting of sheeted quartz-sulphide vein with pyrrhotite and minor sphalerite that remain open:

Bonanza: 2.42 g/t AuEq (2.39 g/t Au and 1.19 g/t Ag) over 4.95 meters, including 3.62 g/t AuEq (3.59 g/t Au and 1.36 g/t Ag) over 2.95 meters. Bonanza: 12.68 g/t AuEq (12.61 g/t Au and 4.39 g/t Ag) over 3.14 meters.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/f2b78629-40c6-43d1-be7e-869d891b26fb

GD-24-258 intercepted a gold mineralized layer with multiple occurrences of visible gold as well as quartz-sulphide vein stockwork with semi-massive pyrrhotite and minor galena and sphalerite that remains open:

Surebet Upper: 4.61 g/t AuEq (4.27 g/t Au and 17.68 g/t Ag) over 5.00 meters, including 7.66 g/t AuEq (7.10 g/t Au and 28.86 g/t Ag) over 3.00 meters. An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/0778346e-eb82-43e6-aeea-c5be0426f0d5

GD-24-268 intercepted a gold mineralized layer with visible gold in a set of sheared sheeted quartz-sulphide vein with pyrrhotite that remains open: Surebet Lower: 5.76 g/t AuEq (5.73 g/t Au and 1.58 g/t Ag) over 4.00 meters, including 7.66 g/t AuEq (7.63 g/t Au and 2.07 g/t Ag) over 3.00 meters. An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/0663d047-7163-443c-953c-6d46bd76f23a

GD-24-270 intercepted two layers that remain open consisting of multiple densely stacked mineralized quartz-sulphide veins containing visible gold, as well as massive pyrrhotite and semi-massive sphalerite and galena: Surebet Upper: 3.72 g/t AuEq (3.61 g/t Au and 5.12 g/t Ag) over 2.99 meters. Bonanza: 4.07 g/t AuEq (3.60 g/t Au and 11.49 g/t Ag) over 5.80 meters, including 6.69 g/t AuEq (5.80 g/t Au and 21.29 g/t Ag) over 2.90 meters, including 10.09 g/t AuEq (8.76 g/t Au and 31.53 g/t Ag) over 1.90 meters.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/89892913-e799-4327-9160-959c22eba09a

GD-24-256 intercepted multiple sheared massive quartz veins with semi-massive pyrrhotite, sphalerite and lesser galena and chalcopyrite that remain open: Surebet Upper: 2.69 g/t AuEq (2.62 g/t Au and 3.15 g/t Ag) over 3.00 meters. Surebet Upper: 4.38 g/t AuEq (4.05 g/t Au and 16.65 g/t Ag) over 5.00 meters, including 7.05 g/t AuEq (6.59 g/t Au and 23.57 g/t Ag) over 3.00 meters. Surebet Upper: 3.01 g/t AuEq (2.66 g/t Au and 19.00 g/t Ag) over 4.00 meters. An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/39e74525-9067-4f58-9715-a624974d5c6b

GD-24-246 intercepted two layers consisting of sheard mineralized quartz-sulphide veins that remain open locally containing semi-massive to massive sphalerite and pyrrhotite: Whopper: 5.07 g/t AuEq (4.91 g/t Au and 8.21 g/t Ag) over 4.00 meters. Golden Gate: 1.92 g/t AuEq (1.68 g/t Au and 10.74 g/t Ag) over 4.52 meters, including 3.69 g/t AuEq (3.27 g/t Au and 19.00 g/t Ag) over 2.07 meters.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/e4ffc3b4-52ad-47cf-a743-ddf41e821b70

With only 15 months of boots on the ground, the strong mineralization consistently observed in 100% of all 243 drill holes collared within a 1.8 km 2 area to date clearly demonstrates the continuity and predictability of this extensive mineralizing system that remains open in all directions providing for excellent additional discovery and expansion potential.

Confirmation of high gold grades in the recently discovered Reduced Intrusion Related Gold (RIRG) system characterized by considerable amounts of visible gold, bismuth, and molybdenum mineralization in the felsic to intermediate porphyritic dykes on Surebet as well as in the intrusions surrounding Surebet could greatly increase the tonnage potential of the Surebet discovery.

Metallurgical testing has shown exceptional gold recoveries of 92.2% from gravity and floatation requiring only a 327 micrometer crush, with 48.8% occurring as free gold; no cyanide required to recover the gold.

TORONTO, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report final assay results for the 2024 dri ll season, with exceptional high-grade gold intercepts of up 9.39 g/t AuEq (8.99 g/t Au and 12.21 g/t Ag) over 10.17 meters within 7.33 g/t AuEq (7.01 g/t Au and 9.70 g/t Ag) over 13.10 meters from multiple mineralized veins that remain open at Surebet on its 100% controlled Golddigger Property (the “Property”), Golden Triangle, B.C. All 8 original layers identified through drilling and modelling on Surebet (Surebet Upper, Surebet Lower, Bonanza, Golden Gate, Whopper, Goldzilla, Eldorado and Big One) have all been significantly expanded and all remain wide open with strong additional expansion potential. 4 new zones have been confirmed and modelled in 2024 bringing the total gold-rich stacked layers to 12, all of which remain wide open for expansion. 100 % of the drill holes completed to date within a 1.8 km 2 area and to a depth of up to 1.2 km intersected mineralization with excellent gold grades, clearly demonstrating minable widths and grades and exceptional continuity and predictability of this large expanding world-class gold discovery that remains wide open both laterally and to depth with tremendous untapped discovery potential remaining.

Dr. Quinton Hennigh, Geologic/Technical Director of Crescat Capital, a strategic investor in Goliath Resources, states: “Goliath achieved all goals that it set for its 2024 Surebet drill program. New, well-positioned drill holes rapidly expanded the footprint of the stacked lode system, additional lodes were discovered and the likely causative intrusion from which the Surebet gold system originates has now identified. Importantly, because the 2024 program was expanded with many additional holes, a clear picture of where and how high-grade mineralization is distributed throughout the lode system is taking shape, especially within the prolific Bonanza Zone. This is critical, because this information now allows Goliath’s team to sharpen their focus with future drilling to maximize the efficiency with which they drill these high-grade areas. While 2024 drilling more fully established the architecture of the Surebet lode system, 2025 is going to be all about fleshing out extent of the robust high-grade zones that are now readily recognizable.”

Roger Rosmus, Founder and CEO of Goliath Resources, states: “Our 2024 drilling season was our best one to date, as we had several pleasant surprises. Early in the season, we quickly saw a dramatic increase in the percentage of visible gold from the 2023 season which had 32% of visible gold and 92% in 2024. As we are following the gold system down the mountain with our drilling, we are seeing the number of stacked lenses increase, and the abundance and coarseness of the visible gold dramatically increase. One of our best intersections in 2023 was a 65.00 g/t AuEq intersection over 7.9 meters. Our best hole to date from all drilling at Surebet was in 2024 that returned 34.52 g/t AuEq over 39.00 meters. This remarkable hit is at the intersections of the Surebet stacked zones and the Bonanza zone, in an area we call the Bonanza High-Grade Gold Zone. Of course, our 2025 drilling season will be focused on expanding the known stacked layers of high-grade gold discoveries at Surebet (especially to keep following the system toward the feeder of the Surebet and Bonanza discoveries), we are also delighted to have a drill confirmed VMS type discovery at Treasure Island (likely at the very top of the system) that we will also advance in 2025. Another impressive discovery in 2024 is high-grade Reduced Intrusion Related gold zones that come from deeper and cut vertically through the stacked veins that could lead us to the Motherlode feeder source. As we drill further into the Surebet discovery, our geological team continues to see the geological similarities between the Pogo Mine in Alaska with stacked veins including visible gold. Also, it appears Surebet’s current stacked mineralization sits on top of a high-grade Reduced Intrusion Related Gold System (RIRGS) that could substantially amplify the size of the entire system. Every drill season Surebet gets better, with several pleasant surprises each year and our team become more confident that we have found the most important new high-grade gold discovery in the prolific Golden Triangle of British Columbia in many years.”

Strong gold mineralization has been confirmed with assays in 100% of 243 widespread drill holes containing >300 intercepts within a 1.8 km 2 area to date. Confirmation of multiple stacked high-grade gold veins and widespread gold-rich reduced intrusion feeder dykes, confirms the continuity of the widths and grades at Surebet demonstrating this world class gold system has tremendous additional untapped expansion potential remaining.

One new high-grade zone located between Surebet Lower and Bonanza assayed up to 45.60 g/t AuEq (45.36 g/t Au and 19.45 g/t Ag) over 5.95 meters and is characterized by high-concentration of visible gold within mostly quartz-rich breccia and vein stockwork. High-grade gold mineralization up to 12.67 g/t AuEq (12.39 g/t Au and 19.74 g/t Ag) over 5.00 meters has also been confirmed in the Golden Gate zone from 603.00 - 608.00 meters downhole in one of the deepest zones discovered to date located just above the valley floor. The Golden Gate zone remains wide open demonstrating the exceptional additional discovery potential at depth.

With only 15 months of boots on the ground, the high-grade mineralization consistently observed in 100% of all 243 drill holes with >300 intercepts collared within a 1.8 km 2 area to date clearly demonstrates the continuity and predictability of this extensive mineralizing system that remains open in all directions providing for excellent additional discovery and expansion potential. All 64 holes drilled in 2024 have intercepted significant mineralization with 92% of the holes (or 59 out of 64 holes) containing occurrences of visible gold or coarse-grained visible gold, demonstrating the excellent continuity of this extensive high-grade gold system that remains wide open in all directions.

The Company looks forward to continuing to expand the mineralization at Surebet and increase the understanding of the geometry and controls of the mineralization. The discovery of the RIRG mineralization clearly indicates proximity to the source of this extensive mineralizing system.

GD-24-254 intercepted multiple stacked layers of strong gold mineralization consisting of high-grade quartz-sulphide veining and breccias with multiple occurrences of visible gold, sphalerite and galena that remain open: Whopper: 5.15 g/t AuEq (4.87 g/t Au and 14.05 g/t Ag) over 2.76 meters. Surebet Upper: 3.54 g/t AuEq (3.28 g/t Au and 9.30 g/t Ag) over 3.03 meters. Bonanza: 7.33 g/t AuEq (7.01 g/t Au and 9.70 g/t Ag) over 13.10 meters, including 9.39 g/t AuEq (8.99 g/t Au and 12.21 g/t Ag) over 10.17 meters, including 18.06 g/t AuEq (17.29 g/t Au and 22.75 g/t Ag) over 5.00 meters Bonanza: 4.08 g/t AuEq (4.02 g/t Au and 4.49 g/t Ag) over 4.00 meters. Golden Gate: 12.67 g/t AuEq (12.39 g/t Au and 19.74 g/t Ag) over 5.00 meters.

GD-24-293 intercepted substantial gold mineralization consisting of quartz-sulphide veins, stockwork and breccia with semi-massive to massive sections of sphalerite, galena and chalcopyrite in 4 layers that remain open: New Zone: 2.29 g/t AuEq (1.89 g/t Au and 11.44 g/t Ag) over 3.20 meters. Bonanza: 5.91 g/t AuEq (5.47 g/t Au and 17.45 g/t Ag) over 5.00 meters, including 9.84 g/t AuEq (9.10 g/t Au and 28.89 g/t Ag) over 3.00 meters. Bonanza: 4.44 g/t AuEq (4.36 g/t Au and 4.76 g/t Ag) over 1.80 meters. Bonanza: 3.14 g/t AuEq (3.09 g/t Au and 2.01 g/t Ag) over 5.00 meters, including 4.54 g/t AuEq (4.47 g/t Au and 3.23 g/t Ag) over 3.00 meters.

GD-24-245 intercepted 4 layers consisting of densely stacked mineralized quartz-sulphide veins that remain open containing visible gold, pyrrhotite and minor sphalerite:

Goldzilla: 3.09 g/t AuEq (2.47 g/t Au and 26.44 g/t Ag) over 3.00 meters. New Zone: 4.02 g/t AuEq (3.75 g/t Au and 14.39 g/t Ag) over 3.00 meters. Surebet Upper: 6.91 g/t AuEq (6.88 g/t Au and 2.15 g/t Ag) over 5.00 meters, including 11.46 g/t AuEq (11.42 g/t Au and 3.25 g/t Ag) over 3.00 meters. Bonanza: 4.44 g/t AuEq (4.14 g/t Au and 12.57 g/t Ag) over 8.00 meters, including 6.46 g/t AuEq (6.12 g/t Au and 15.27 g/t Ag) over 5.00 meters.

GD-24-264 intercepted 2 mineralized layers with multiple sheared quartz-sulphide veins that remain open containing visible gold and minor galena and sphalerite:

Bonanza: 3.09 g/t AuEq (3.05 g/t Au and 1.73 g/t Ag) over 3.00 meters. Bonanza: 2.28 g/t AuEq (2.22 g/t Au and 2.37 g/t Ag) over 21.00 meters, including 4.01 g/t AuEq (3.91 g/t Au and 4.13 g/t Ag) over 8.00 meters.

GD-24-297 intercepted 2 broad gold mineralized layers consisting of sheeted quartz-sulphide vein with pyrrhotite and minor sphalerite that remain open: Bonanza: 2.42 g/t AuEq (2.39 g/t Au and 1.19 g/t Ag) over 4.95 meters, including 3.62 g/t AuEq (3.59 g/t Au and 1.36 g/t Ag) over 2.95 meters. Bonanza: 12.68 g/t AuEq (12.61 g/t Au and 4.39 g/t Ag) over 3.14 meters.

Goliath Drills 9.39 g/t AuEq Over 10.17 Meters And Updates Model With 4 New Gold Veins For A Total Of 12 Stretching Vertically For 1.2 km And Spread Over A 1.8 km2 Area That Remain Open On Surebet, Golden Triangle, B.C.

Drilling Highlights:

Earlier from Palisades Goldcorp Ltd.