Goliath Drills 10.91 g/t AuEq Over 10.00 Meters Including 15.51 g/t AuEq Over 7.00 Meters And Discovers Two New Stacked Gold Veins That Remain Open At Surebet High-Grade Gold Discovery, Golden Triangle B.C., Assays Pending On 77 Holes

2025-02-18

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

Drilling Highlights:

Multiple intercepts of stacked layers containing high-grade gold mineralization assaying up to 10.91 g/t AuEq (10.53 g/t Au and 22.83 g/t Ag) over 10.00 meters, including 15.51 g/t AuEq (14.99 g/t Au and 31.10 g/t Ag) over 7.00 meters have been confirmed in the Surebet Zone, Bonanza Zone as well as in two new stacked gold-mineralized veins, further demonstrating the consistent high grades and widths of the gold-mineralized layers vertically stacked over 1.2 km and over an area measuring 1.8 km 2 at the Surebet Discovery that remains wide open. Strong mineralization confirmed in 100% of 243 widespread drill holes containing 300 intercepts to date within 1.8 km 2 area where 8 stacked gold veins as well as 7 new stacked gold veins have been identified and confirmed by assays to date. Confirmation of multiple stacked gold veins and widespread gold rich reduced intrusion feeder dykes within the 1.8 km 2 area up to >1.2 km deep that remain open both laterally and to depth, confirms the continuity of the widths and grades at Surebet demonstrating this world-class gold system has tremendous additional untapped expansion potential remaining. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2a63586b-adbf-41d7-b287-46484c859f42

GD-24-248 intercepted multiple stacked layers of strong gold mineralization consisting of high-grade quartz-sulphide veining and breccias with visible gold, sphalerite and galena from the Surebet Zone as well as the Bonanza Zone that remain open: Surebet Zone: 10.91 g/t AuEq (10.53 g/t Au and 22.83 g/t Ag) over 10.00 meters, including 15.51 g/t AuEq (14.99 g/t Au and 31.10 g/t Ag) over 7.00 meters, including 21.59 g/t AuEq (20.89 g/t Au and 42.23 g/t Ag) over 5.00 meters. Bonanza Zone: 6.12 g/t AuEq (6.08 g/t Au and 2.07 g/t Ag) over 3.00 meters. Bonanza Zone: 4.14 g/t AuEq (4.04 g/t Au and 3.66 g/t Ag) over 8.25 meters, including 6.28 g/t AuEq (6.13 g/t Au and 5.55 g/t Ag) over 5.15 meters. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2d55d45a-adca-4b0b-9c01-95c928799b4b

GD-24-247 intercepted substantial gold mineralization consisting of quartz-sulphide veins and breccia with visible gold, galena, and minor chalcopyrite in a layer corresponding to the Bonanza Zone that remain open: Bonanza Zone: 13.09 g/t AuEq (12.52 g/t Au and 19.20 g/t Ag) over 7.95 meters, including 17.70 g/t AuEq (16.94 g/t Au and 25.89 g/t Ag) over 5.87 meters, including 21.26 g/t AuEq (20.36 g/t Au and 30.92 g/t Ag) over 4.88 meters. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/80037395-9342-4785-a36d-f7760e086161 A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/61d6c82e-b53f-4931-ba5b-a68ab8890b97

GD-24-261 intercepted an exceptional layer of quartz-sulphide veining and breccia containing pyrrhotite, sphalerite and galena as well as several occurrences of visible gold corresponding to the Surebet Zone that remains open: Surebet Zone: 7.99 g/t AuEq (7.66 g/t Au and 16.91 g/t Ag) over 6.00 meters, including 11.98 g/t AuEq (11.48 g/t Au and 24.96 g/t Ag) over 4.00 meters. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6533c33f-8ba6-4ca6-812e-c44b7ca86709

GD-24-276 intercepted two new layers consisting of stacked mineralized quartz-sulphide veins that remain open containing visible gold, pyrrhotite and minor sphalerite: New Stacked Vein: 6.24 g/t AuEq (6.19 g/t Au and 3.20 g/t Ag) over 5.00 meters, including 9.02 g/t AuEq (8.96 g/t Au and 4.56 g/t Ag) over 3.00 meters. New Stacked Vein: 4.14 g/t AuEq (4.12 g/t Au and 0.57 g/t Ag) over 5.00 meters, including 6.87 g/t AuEq (6.85 g/t Au and 0.69 g/t Ag) over 3.00 meters.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4e5bbc19-d113-4cca-886c-02fec5e7f598 A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d6a3137a-ae88-4905-a863-43bf830ab751

GD-24-294 intercepted two mineralized layers of quartz-sulphide veins and breccia that remain open containing visible gold, massive pyrrhotite, minor galena and sphalerite corresponding to the Bonanza Zone: Bonanza Zone: 3.91 g/t AuEq (3.75 g/t Au and 5.32 g/t Ag) over 4.00 meters. Bonanza Zone: 5.75 g/t AuEq (5.71 g/t Au and 1.80 g/t Ag) over 6.00 meters, including 6.67 g/t AuEq (6.60 g/t Au and 2.77 g/t Ag) over 3.00 meters.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/202b7d9b-ab6d-4bfb-9e2e-46697f4b0827

GD-24-283 intercepted a broad gold mineralized layer consisting of quartz-sulphide vein stockwork with pyrrhotite and minor chalcopyrite in an interval corresponding to the Bonanza Zone that remains open: Bonanza Zone: 2.24 g/t AuEq (2.15 g/t Au and 3.32 g/t Ag) over 22.97 meters, including 2.93 g/t AuEq (2.84 g/t Au and 3.25 g/t Ag) over 15.97 meters, including 10.63 g/t AuEq (10.21 g/t Au and 18.04 g/t Ag) over 2.00 meters. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8ee194cd-26f5-49b1-8001-3143c67e6fae A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b7f1d6e3-df3e-4e0c-a8f7-dc90e431d38c A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/269e346f-3617-41d5-ba14-724126cb0390 A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/76847677-4da6-4f9f-9f1c-b4661b5c9a0b

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 size potential of the Surebet Discovery.

100% of 243 widespread holes drilled on Surebet intersected the targeted mineralized zones in 300 intercepts, 106 of which intersected visible gold including the 64 holes drilled in 2024 which intercepted significant mineralization with 92% of the holes (or 59 out of 64 holes) containing visible gold, abundant visible gold and/or coarse-grained visible gold, demonstrating the excellent continuity and predictability of this extensive high-grade world- class gold discovery.

Metallurgical testing has shown exceptional gold recoveries of 92.2% from gravity and flotation requiring only a 327 micrometer crush, with 48.8% occurring as free gold; cyanide required to recover the gold. Drilling in 2025 will focus on expanding the 1.2 km stacked layers of high-grade gold mineralization that remains open in all directions, including to depth and vectoring in on the reduced intrusion indicated at depth believed to be the source for the extensive high-grade gold mineralization on the Surebet Discovery currently covering an area of at least 1.8 km 2 . Assays compilation, interpretation and modeling are underway for an additional 77 holes and will be announced shortly: 39 drilled in 2024 (33 have visible, abundant visible gold and/or coarse-grained visible gold), 12 drilled into the Reduced Intrusive Dykes 2021-2023 (5 have visible, abundant visible gold and/or coarse-grained visible gold), 14 relogged shoulders 2021 – 2023 (3 have visible and/or abundant visible gold) and 12 from VMS style mineralization at Treasure Island 40 km to the north of the Surebet Discovery.

TORONTO, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report exceptional high-grade gold intercepts of up to 10.91 g/t AuEq (10.53 g/t Au and 22.83 g/t Ag) over 10.00 meters, including 15.51 g/t AuEq (14.99 g/t Au and 31.10 g/t Ag) over 7.00 meters from multiple mineralized veins that remain open at Surebet on its 100% controlled Golddigger Property (the “Property”), Golden Triangle, B.C. Assays compiled and modelled for 6 new drill holes from the successful 2024 drill program intersected excellent gold grades. Clearly demonstrating minable widths and grades. With 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. Assays compilation, interpretation and modeling are underway for an additional 77 holes that will be announced shortly.

Roger Rosmus, Founder and CEO of Goliath Resources, states: “Words of wisdom from a brilliant geologist is that all exploration targets start out with big geophysical anomalies or geochemical anomalies that get smaller the more you drill them, whereas mines are different, in that they get better the more you drill them and have pleasant surprises along the way. Evidence that Surebet is progressing in the latter scenario can be seen in the drilling from the 2023 and 2024 drilling seasons. In 2023, we saw visible gold in 32% of the drill holes, while in 2024 that dramatically increased to 92% of the drill holes and had abundant visible gold and coarse-grained visible gold. Clearly demonstrating that the discovery is getting more robust as we follow the gold mineralization down the mountain, and equally as impressive is that our Bonanza High-Grade Gold Zone is only 200 metres above the valley floor where it comes right to the surface. One of the pleasant surprises this year was that while drilling for expansion of known stacked veins, we found new veins in the same drill hole which greatly reduces the cost of discovery. What is astonishing to our geological team is that considering the transition of the visible gold in the system there is a very good chance that we are still at the top of the system and are still moving toward the source of the gold mineralizing system. I like to look at the value of gold per gram and then consider the mineable intersections and it is clear that the Surebet discovery is without a doubt a world-class discovery, in one of the world’s premier jurisdictions (the Golden Triangle of British Columbia which is a prolific high-grade mining camp) and that we have the most important high-grade gold discoveries in the Golden Triangle in many years. We look forward to announcing the remaining 77 drill holes from the 2024 season from our Golddigger property.”

Assays compilation, interpretation and modeling are underway for an additional 77 holes and will be announced shortly: 39 drilled in 2024 (33 have visible, abundant visible gold and/or coarse-grained visible gold), 12 drilled into the Reduced Intrusive Dykes 2021-2023 (5 have visible, abundant visible gold and/or coarse-grained visible gold), 14 relogged shoulders 2021 – 2023 (3 have visible and/or abundant visible gold) and 12 from VMS style mineralization at Treasure Island 40 km to the north of the Surebet Discovery.

High-grade mineralization has been confirmed in 243 drill holes containing 300 intercepts in 8 known stacked mineralized gold veins as well as the reduced intrusion feeder dykes within the 1.8 km 2 area and over 1.2 km deep that remains open laterally and to depth, clearly showing the exceptional continuity of widths and grades at Surebet. 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 size potential of the Surebet Discovery.

Drilling in 2025 will focus on expanding the mineralization in all directions, including to depth vectoring in on the reduced intrusion indicated source for the extensive high-grade gold mineralization on the world-class Surebet discovery.

All 64 holes drilled in 2024 have intercepted significant mineralization with 92% of the holes (or 59 out of 64 holes) containing visible gold, abundant visible gold and/or coarse-grained visible gold, demonstrating the excellent continuity of this extensive high-grade gold system that remains wide open in all directions.

Surebet Zone: 10.91 g/t AuEq (10.53 g/t Au and 22.83 g/t Ag) over 10.00 meters, including 15.51 g/t AuEq (14.99 g/t Au and 31.10 g/t Ag) over 7.00 meters, including 21.59 g/t AuEq (20.89 g/t Au and 42.23 g/t Ag) over 5.00 meters. Bonanza Zone: 6.12 g/t AuEq (6.08 g/t Au and 2.07 g/t Ag) over 3.00 meters. Bonanza Zone: 4.14 g/t AuEq (4.04 g/t Au and 3.66 g/t Ag) over 8.25 meters, including 6.28 g/t AuEq (6.13 g/t Au and 5.55 g/t Ag) over 5.15 meters.

Bonanza Zone: 13.09 g/t AuEq (12.52 g/t Au and 19.20 g/t Ag) over 7.95 meters, including 17.70 g/t AuEq (16.94 g/t Au and 25.89 g/t Ag) over 5.87 meters, including 21.26 g/t AuEq (20.36 g/t Au and 30.92 g/t Ag) over 4.88 meters.

Surebet Zone: 7.99 g/t AuEq (7.66 g/t Au and 16.91 g/t Ag) over 6.00 meters, including 11.98 g/t AuEq (11.48 g/t Au and 24.96 g/t Ag) over 4.00 meters.

GD-24-276 intercepted two new layers consisting of stacked mineralized quartz-sulphide veins that remain open containing visible gold, pyrrhotite and minor sphalerite:

New Stacked Vein: 6.24 g/t AuEq (6.19 g/t Au and 3.20 g/t Ag) over 5.00 meters, including 9.02 g/t AuEq (8.96 g/t Au and 4.56 g/t Ag) over 3.00 meters. New Stacked Vein: 4.14 g/t AuEq (4.12 g/t Au and 0.57 g/t Ag) over 5.00 meters, including 6.87 g/t AuEq (6.85 g/t Au and 0.69 g/t Ag) over 3.00 meters.

GD-24-294 intercepted two mineralized layers of quartz-sulphide veins and breccia that remain open containing visible gold, massive pyrrhotite and minor galena and sphalerite corresponding to the Bonanza Zone:

Bonanza Zone: 3.91 g/t AuEq (3.75 g/t Au and 5.32 g/t Ag) over 4.00 meters.

Bonanza Zone: 5.75 g/t AuEq (5.71 g/t Au and 1.80 g/t Ag) over 6.00 meters, including 6.67 g/t AuEq (6.60 g/t Au and 2.77 g/t Ag) over 3.00 meters.

Table 1: Highlights for drill holes reported in this news release

| Hole ID | Zone | | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | AuEq (g/t) | | GD-24-247 | Bonanza | Interval | 403.55 | 411.50 | 7.95 | 12.52 | 19.20 | 0.04 | 0.57 | 0.61 | 13.09 | | Including | 404.61 | 410.48 | 5.87 | 16.94 | 25.89 | 0.05 | 0.77 | 0.82 | 17.70 | | | | Including | 405.60 | 410.48 | 4.88 | 20.36 | 30.92 | 0.06 | 0.92 | 0.98 | 21.26 | | | | GD-24-248 | Surebet | Interval | 308.00 | 318.00 | 10.00 | 10.53 | 22.83 | 0.01 | 0.20 | 0.21 | 10.91 | | Including | 311.00 | 318.00 | 7.00 | 14.99 | 31.10 | 0.02 | 0.29 | 0.30 | 15.51 | | | | Including | 313.00 | 318.00 | 5.00 | 20.89 | 42.23 | 0.02 | 0.39 | 0.39 | 21.59 | | | | Bonanza | Interval | 574.00 | 577.00 | 3.00 | 6.08 | 2.07 | 0.01 | 0.01 | 0.02 | 6.12 | | | Bonanza | Interval | 647.75 | 656.00 | 8.25 | 4.04 | 3.66 | 0.01 | 0.03 | 0.14 | 4.14 | | | Including | 648.85 | 654.00 | 5.15 | 6.13 | 5.55 | 0.01 | 0.04 | 0.21 | 6.28 | | | | GD-24-261 | Surebet | Interval | 240.00 | 246.00 | 6.00 | 7.66 | 16.91 | 0.01 | 0.39 | 0.16 | 7.99 | | Including | 241.00 | 245.00 | 4.00 | 11.48 | 24.96 | 0.01 | 0.59 | 0.23 | 11.98 | | | | GD-24-276 | NEW | Interval | 101.00 | 106.00 | 5.00 | 6.19 | 3.20 | 0.00 | 0.00 | 0.03 | 6.24 | | Including | 101.00 | 104.00 | 3.00 | 8.96 | 4.56 | 0.00 | 0.00 | 0.03 | 9.02 | | | | NEW | Interval | 379.00 | 384.00 | 5.00 | 4.12 | 0.57 | 0.00 | 0.00 | 0.01 | 4.14 | | | Including | 380.00 | 383.00 | 3.00 | 6.85 | 0.69 | 0.00 | 0.00 | 0.01 | 6.87 | | | | GD-24-283 | Bonanza | Interval | 563.00 | 585.97 | 22.97 | 2.15 | 3.32 | 0.02 | 0.03 | 0.06 | 2.24 | | Including | 570.00 | 585.97 | 15.97 | 2.84 | 3.25 | 0.03 | 0.03 | 0.05 | 2.93 | | | | Including | 570.00 | 572.00 | 2.00 | 10.21 | 18.04 | 0.14 | 0.18 | 0.14 | 10.63 | | | | GD-24-294 | Bonanza | Interval | 511.00 | 515.00 | 4.00 | 3.75 | 5.32 | 0.01 | 0.12 | 0.19 | 3.91 | | Bonanza | Interval | 523.00 | 529.00 | 6.00 | 5.71 | 1.80 | 0.01 | 0.03 | 0.04 | 5.75 | | | Including | 526.00 | 529.00 | 3.00 | 6.60 | 2.77 | 0.01 | 0.06 | 0.05 | 6.67 | | |

The continuity and predictability of the newly expanded thick gold Bonanza High Grade Gold Zone has previously been drill tested where GD-23-197 assayed 34.03 g/t AuEq (1.09 oz/t AuEq) over 9 meters (released October 17, 2023), GD-24-235 assayed 35.04 g/t AuEq (1.13 oz/t AuEq) over 5.25 meters (released July 30, 2024), GD-24-249 assayed 30.55 g/t AuEq (0.98 oz/t AuEq) over 8.95 meters (released December 12, 2024), and GD-24-260 assayed 132.93 g/t AuEq (4.27 oz/t AuEq) over 10.00 meters (released January 13, 2025). The new Bonanza High-Grade Zone outcrops on the surface 200 meters above the valley floor at an elevation of 900 meters above sea level.

The Bonanza High-Grade Gold Zone remains open in all directions, including to depth, where the new Deep Zone was discovered at 1,239 meters downhole from the Bang On Pad, only 480 meters below the valley floor level. This zone contains multiple quartz-sulphide veins and breccias with chalcopyrite, galena and sphalerite demonstrating the tremendous untapped discovery potential of the Surebet system. The mineralized zones contain significant amounts of chalcopyrite, galena and sphalerite and remains wide open. Assays for all holes that intersected the new Deep Zone are pending.

The Company looks forward to continuing to expand the mineralization at Surebet and increase the understanding of the geometry and controls of the mineralization with additional modelling as results become available in the immediate future. The discovery of the RIRG mineralization clearly indicates proximity to the source of this extensive mineralizing system. Drilling in 2025 will focus on expanding the mineralization in all directions, including to depth towards the indicated source for the fluids responsible for the extensive high-grade gold-silver mineralization on the world-class Surebet discovery.

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-24-294 | NAD83 / UTM zone 9N | 457363 | 6162757 | 1505 | 163 | 60.15 | 656 | | GD-24-283 | NAD83 / UTM zone 9N | 457363 | 6162756 | 1506 | 135 | 55 | 650 | | GD-24-276 | NAD83 / UTM zone 9N | 457884 | 6162618 | 1175 | 180 | 63 | 458 | | GD-24-261 | NAD83 / UTM zone 9N | 457381 | 6162945 | 1622 | 350 | 70 | 376 | | GD-24-248 | NAD83 / UTM zone 9N | 457446 | 6162778 | 1513 | 120 | 53 | 681 | | GD-24-247 | NAD83 / UTM zone 9N | 457257 | 6162713 | 1475 | 100 | 69 | 673.83 |

Goliath Drills 10.91 g/t AuEq Over 10.00 Meters Including 15.51 g/t AuEq Over 7.00 Meters And Discovers Two New Stacked Gold Veins That Remain Open At Surebet High-Grade Gold Discovery, Golden Triangle B.C., Assays Pending On 77 Holes

Drilling Highlights:

Table 1: Highlights for drill holes reported in this news release

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

Earlier from Palisades Goldcorp Ltd.