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:

• 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 km² 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 km² 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 km² 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
• 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 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.
    
  • 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 km² 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.

/EIN News/ -- 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 drill 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 km² 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 km² 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 km² 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-24-269 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.

• 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.

• 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.

• GD-24-268 intercepted a gold mineralized layer consisting 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.

• 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.

• 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 Lower: 3.01 g/t AuEq (2.66 g/t Au and 19.00 g/t Ag) over 4.00 meters.

• 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.
    

Jackpot Drill Target

High-grade gold consistent with Bonanza style mineralization was intersected in the Jackpot showing located 1.4 km to the southeast of Surebet in hole GD-24-288 that assayed 6.23 g/t AuEq (5.57 g/t Au and 41.1 g/t Ag) over 0.82 meters within 2.26 g/t AuEq (1.95 g/t Au and 20.19 g/t Ag) over 2.45 meters. The same mineralized vein was intercepted on trend in hole GD-23-217 (previously reported) which assayed 59.03 g/t AuEq (57.10 g/t Au and 24.80 g/t Ag) over 1 meter as well as GD-22-26 (previously reported) which assayed 1.58 g/t AuEq (1.41 g/t Au and 28.3 g/t Ag) over 1 meter. Grab and channel samples collected on surface and previously reported from the Jackpot showing assayed up to 21.5 oz/t AuEq or 667.40 gpt AuEq (636.00 gpt Au, 1,690.00 gpt Ag, 7.96 % Cu, 2.22 % Pb). Further exploration is required at Jackpot to determine its relationship with the mineralization seen at Surebet and Bonanza.

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

Table 2: Balance of assay results from 2024 drill holes from Surebet. (Note: a number of holes from the re-logging program have not been reported due to the fact that they didn’t result in new substantial mineralized intervals)

Table 3: Collar information for drill holes from Surebet reported in this news release.

Treasure Island Drill Results

Mineralization confirmed in quartz-sulphide veins on the original Treasure Island discovery from channel samples has been intercepted in multiple holes from the inaugural drill program executed in 2024. The gold sulphide mineralization seen in drill holes is comparable to what was observed in surface grab and channel samples. The 2024 drill highlights include drill holes TI-24-04 that intercepted 1.25 g/t AuEq over 7.12 meters, including 2.37 g/t AuEq over 2.90 meters, and drill hole Ti-24-05 which intercepted 1.34 g/t AuEq over 4.10 meters, including 2.26 g/t AuEq over 2.25 meters. Mineralization consists of significant intervals of quartz-sulphide veining and breccia composed of semi-massive to massive pyrite and chalcopyrite hosted in a strongly deformed mudstone unit.

Gold mineralization at Treasure Island is hosted in structurally controlled quartz-sulphide rich veins and shear zones rich in pyrite and chalcopyrite. As geophysical surveys are very good at identifying sulphides at depth, at the beginning of the 2025 season a geophysical survey will be completed to help target the mineralization beneath Treasure Island focused on delineating strong drill targets in both the subsurface of the Treasure Island outcrop as well as under the surrounding glacier in preparation for drilling.

Table 4: Treasure Island drill highlights 2024.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/abf1103d-5330-4dbe-aca2-55a8a2fa889d

Table 5: Collar information for drill holes from Treasure Island reported in this news release.

Golddigger Property

The Golddigger Property is 100% controlled and covers an area of 91,518 hectares in the world class geological setting of the Eskay Rift, within 3 kilometers of the Red Line in the Golden Triangle of British Columbia. This area has hosted some of Canada’s greatest 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 exceptional continuity and excellent metallurgy with gold recoveries of 92.2% with 48.8% of it as free gold from gravity alone at a 327-micrometer crush (no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements are present such as mercury or arsenic.

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 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 is a paying member and active supporter of CASERM, an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech aimed at transforming the way that geoscience data is used in the mineral resource industry. 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. As a CASERM member, the Company requested a study and written report to be performed by Colorado School of Mines analysing Surebet’s origin of mineralization. The study confirmed an extensive porphyry feeder source at depth for the high-grade gold mineralising fluids at Surebet.

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 also a director of the Company.

About Goliath Resources Limited

Goliath Resources is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. All of its projects are in world class 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’s key strategic cornerstone shareholders include Crescat Capital, Mr. Rob McEwen and Mr. Eric Sprott, Mr. Larry Childress, a Global Commodity Group based in Singapore and McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) post close of its strategic investment announced January 29, 2025.

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

Other

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 Deposit™. Drill holes were planned using Leapfrog Geo™ and QGIS™ software and data from the 2017-2022 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration are 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. Standards, blanks and duplicates were added in the sample stream at a rate of 10%.

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 were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence at a rate of 10%.

All samples are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the Paragon Geochemical labs facilities in Surrey, BC or ALS labs facilities in North Vancouver, BC. Paragon Geochemical is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. Samples submitted to Paragon received gold and silver analysis by photon assay whereby the entire sample is crushed to approximately 70% passing 2 mm mesh. The entire crushed sample is riffle split and weighed into multiple (300-500g) jars that are submitted for photon assay. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, causing them to emit secondary gamma rays, which are measured to identify and quantify the metals present. The assays from all jars are combined on a weight-averaged basis. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric, and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.

Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and 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.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Infographic 1

Infographic 1

Infographic 2

Infographic 2

Infographic 3

Infographic 3

Infographic 4

Infographic 4

Infographic 5

Infographic 5

Infographic 6

Infographic 6

Infographic 7

Infographic 7

Infographic 8

Infographic 8

Infographic 9

Infographic 9

Infographic 10

Infographic 10

Infographic 11

Infographic 11

Infographic 12

Infographic 12

Infographic 13

Infographic 13

Infographic 14

Infographic 14

Infographic 15

Infographic 15

Infographic 16

Infographic 16