• The newly discovered Full House trend consists of a series of stacked E-W trending and N dipping significantly mineralized shear zones sporadically outcropping at surface over 3 kilometers characterized by Surebet-style Mineralization with Massive to Semi-Massive Galena and Sphalerite that remains open.
• Full House sits within a broader trend of multiple stacked shear zones traced for 6.5 kilometers that remains wide open.
  • An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/959d0e5e-45c2-420e-bebc-da34d0891abc

• Several highly mineralized newly discovered shear zones will be drill tested this season during the 2023 drill program currently underway.
  • An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/d35f642c-3108-4217-ada8-55b6a73647f6

• Visible Gold was found in a grab sample on surface that assayed 113.5 g/t Gold and 249.0 g/t Silver at the Payday showing located within the upper portion of the Full House Trend.
  • An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/25549cd7-ccfe-4497-8322-47cbf837f592

• Full House is located 5 km northwest of Surebet and 3.5 km southwest of Goldswarm. All these zones are believed to be closely related and have most likely been mineralized by the same extensive high-grade feeder source at depth.
  • An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/ca50c130-8b65-4e53-aba3-4b633e6b4404

• Assay results are pending for channel cuts from the Full House Main shear zone totalling 12 meters over a thickness of 8 meters containing Galena, Sphalerite, and Pyrite.
  • An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/79a322f5-dcd4-4525-bab3-ff0120645e3b

Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) is pleased to report it has discovered a brand new strongly mineralized 6.5 kilometer trend containing multiple stacked shear zones dubbed the Full House trend at its 100 % controlled Golddigger property, Golden Triangle, British Columbia.

The newly discovered zone referred to as Full House hosts Surebet-style mineralization containing galena and sphalerite in outcropping shear zones striking east-west and dipping to the north. These mineralized shear zones have been traced sporadically over at least 3 kilometers within a broader trend of multiple stacked shears traced for 6.5 kilometers that remains wide open. Several areas have already been identified as drill targets and will be tested with the drill bit during the current 2023 drill season. This new discovery is believed to be connected to the same high-grade feeder source at depth below Surebet (5 km to the Southeast) and Goldswarm (3.5 km to the northeast), all demonstrating the untapped remaining discovery potential on the Golddigger Property along 56 kilometers of the Red Line that is largely unexplored. Prospecting on the new Full House discovery remains ongoing.

Golddigger Property

The Golddigger Property is 100 % controlled covering an area of 59,089 hectares (146,012 acres) and is in the world class geological setting of the Eskay Rift within the Golden Triangle of British Columbia and within 3 kilometers of the ‘Red Line’ that is host to multiple world class deposits. The Surebet discovery is in an excellent location in close proximity to the communities of Alice Arm and Kitsault where there is permitted mill site on private property. Its 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 with supplies.

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.

Other

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^TM. Drill holes were planned using Leapfrog Geo^TM and QGIS^TM 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 ALS labs facilities in North Vancouver. 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.

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.

About Goliath Resources Limited

Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and Abitibi Greenstone Belt of Quebec. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada.