Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) is pleased to report the discovery of multiple grains of gold visible to the naked eye over a 26 meter interval of intermediate intrusive granitoid dyke from hole GD-22-64 drilled in 2022 at its 100% controlled Golddigger Property, Golden Triangle, British Columbia. This exciting development comes as the Company commences its largest drill program to date, a 40,000-meter campaign focused entirely on expanding the high-grade Surebet discover by testing for the Motherlode Causative Intrusive Gold Source, testing additional Eocene intrusive granitoid dykes, infill drilling with the goal of increasing pierce points density in all known stacked veins, and expanding the known mineralized veins laterally and to depth where they currently remain open.

Highlights:

• Multiple occurrences of gold visible to the naked eye have been identified across a 26.47 meter interval of intermediate granitoid Reduced Intrusion Related Gold (RIRG) feeder dyke in hole GD-22-64 from 274.15 to 300.62 m. This is one of the many RIRG dykes believed to be directly related to the causative intrusion responsible for the extensive high-grade gold mineralization confirmed at Surebet. The entire granitoid dyke interval from hole GD-22-64 has been sampled, and assays are pending (see VG images below, scale = cm).  
  • An accompanying infographic is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/1bfc64de-5e12-4076-9669-b46d11390d86
  • An accompanying infographic is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/1afd37e5-e3b8-4d48-bde9-e92a3c5afb3f
  • An accompanying infographic is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/fc522678-0984-40d1-8ee3-fbe0e63b554d
  • An accompanying infographic is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/55a61832-5524-4868-b5b8-6205bc92dbd6

• The newly identified intermediate intrusive dyke from hole GD-22-64 with gold grains up to 1 mm in diameter is strongly reminiscent of the interval from hole GD-22-58 drilled in 2022 and re-logged in 2024 that assayed up to 12.03 g/t AuEq over 10 meters (~true width).
  • An accompanying infographic is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/6c069a79-7e5f-49fe-80c1-0600f5e00b8f

• Hole GD-22-64 is the first of 50 holes selected for re-logging that have intersected Eocene intrusive granitoid dykes previously drilled during 2021 – 2024. A total of 2,062 meters in aggregate which may also be sent in for assay will be re-logged over the next few weeks.
  • An accompanying infographic is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/c08e0389-ec14-4719-932e-fd232cd7c84a

• In 2024, 13 holes were relogged from the same series of Eocene intrusive granitoid dykes that had visible gold (seen with the naked eye) in 6 of the holes and assayed up to 12.03 g/t AuEq over 10 meters (~true width). Additional intervals of gold mineralization confirmed in intrusive dykes previously reported include drill hole GD-24-237 which assayed 10.50 g/t AuEq over 7.00 meters, GD-23-180 which assayed 3.46 g/t AuEq over 7.00 meters, and GD-23-226 which assayed 6.03 g/t AuEq over 2 meters.

• Mineralization in the dykes occurs as quartz veins and veinlets up to a few centimeters wide containing visible gold, bismuth, bismuth-tellurides and molybdenite, hosted in porphyritic felsic-intermediate ilmenite series granitoids, which is the expected composition of a causative intrusion in the geologic setting where Surebet was formed. Gold in the mineralized dykes occurs included in composite grains with native bismuth and bismuth tellurides. This style of gold mineralization is also found in the gold-rich stacked shear hosted quartz veins at Surebet. The gold mineralized intrusive feeder dykes are up to 25 meters wide and exposed along strike at surface for up to 1,500 meters and remain open, strongly indicating close proximity to a gold-rich Motherlode reduced intrusive source.

• The 2025 planned drill campaign consists of systematic drilling designed to outline in detail the full geometry and extent of this discovery laterally and to depth. The Company has designed a detailed drill plan to test for the Motherlode Causative Intrusive Gold Source, test additional Eocene intrusive granitoid dykes, infill drilling with the goal of increasing pierce points density in all known stacked veins, and expand the known mineralized veins laterally and to depth where they currently remain open.  
  • An accompanying infographic is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/99009b97-37b9-48d9-bd9b-47a052759125

Surebet Discovery Highlights

• 59 out of 64 holes (or 92%) drilled in 2024 contained Visible Gold; all visible to the naked eye and without the need for a hand-lens or microscope that all assayed for high-grade gold including the largest piece drilled to date being 11.5 mm (7/16 inches).
• The best hole drilled to date in the shear zones is GD-24-260 previously reported from the Bonanza Zone assayed 34.52 g/t AuEq (34.47 Au and 3.96 Ag) over 39.00 meters (~true width), 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.

• The best hole drilled to date in the Eocene intrusive granitoid feeder dykes is from GD-22-58 previously reported has two separate mineralized intervals within the dyke assaying up to 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 (~true width).
• Four new mineralized shear zones were identified in 2024 significantly increasing the potential tonnage of the system that remains open. A total of 12 vertically stacked gold-mineralized veins (shear zones) extending vertically for 1.2 kilometers have been discovered and modelled to date.
• The footprint of the mineralization discovered to date at Surebet is 1.8 km², the equivalent in size to >336 NFL football fields, and remains open in all directions.
• Thanks to the mountainous topography, mineralization in the veins is exposed on surface for 2.1 km of strike (1.0 km on the south slope and 1.1 km on the north slope) with a vertical relief of 700 meters.
• A detailed study recently completed by the Colorado School of Mines confirms a new interpretation of the ore forming process of high-grade gold mineralization at Surebet and outlines a common causative Reduced Intrusion Related Gold source with tremendous untapped discovery potential to increase economical tonnage in the Eocene aged rocks never documented before.
• Goliath has drilled a total of 92,000 meters to date with over 400 pierce points on the Golddigger property between 2021 and 2024, which culminated in the updated geologic model used for this year’s drill planning.
• The Surebet Discovery has predictable continuity and exceptional excellent metallurgy with gold recoveries from gravity and flotation at a 327-micrometer crush of 92.2% including 48.8% free gold from gravity alone (no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements are present such as mercury or arsenic.
• 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 key terrain of the Red Line geologic trend providing for additional upside discovery potential.
• The Golddigger Property is located on tidewater with barge route to Prince Rupert (190 km south) and close to infrastructure including the town of Kitsault adjacent to a permitted mine site on private property.

Mr. Roger Rosmus, Founder & CEO of Goliath states: “The identification of visible gold within this new dyke interval in hole GD-22-64 is a highly encouraging start to our 2025 drill exploration program at Surebet. The strong similarities to previously drilled, high-grade intercepts within these RIRG dykes reinforce our belief that we are in close proximity to a significant gold-rich intrusive source. Our largest drill program to date is strategically designed to methodically unlock the full potential of the Surebet discovery, including testing for the ‘Motherlode’ causative intrusion and further defining the extensive high-grade mineralization across the project.”

Multiple grains of gold, visible to the naked eye, have been identified within a 26.47-meter interval of an intermediate intrusive granitoid dyke in drill hole GD-22-64, from 274.15 to 300.62 meters. This dyke is believed to be directly related to the causative intrusion responsible for the extensive high-grade gold mineralization confirmed at Surebet. The entire granitoid dyke interval from hole GD-22-64 has been sampled and shipped to the laboratory, and assays are pending. Hole GD-22-64 is the first of 50 holes selected for re-logging that have intersected Eocene intrusive granitoid dykes previously drilled between 2021 and 2024. A total of 2,062 meters in aggregate of core, which may also be sent in for assay, will be re-logged over the next month. This systematic re-logging effort is expected to further enhance the understanding of the Surebet mineralized system and its source.

The newly identified dyke in hole GD-22-64, with its visible gold, is strongly reminiscent of an interval from hole GD-22-58 re-logged in 2024, which assayed up to 12.03 g/t AuEq over 10 meters (~true width). In 2024, 13 holes from the same series of Eocene intrusive granitoid dykes were re-logged, with visible gold observed in 6 of these holes, confirming high-grade mineralization. Additional intervals of gold mineralization confirmed in intrusive dykes previously reported include drill hole GD-24-237 which assayed 10.50 g/t AuEq over 7.00 meters, GD-23-180 which assayed 3.46 g/t AuEq over 7.00 meters, and GD-23-226 which assayed 6.03 g/t AuEq over 2 meters. Mineralization in these dykes occurs as quartz veins and veinlets up to a few centimeters wide containing visible gold, bismuth, bismuth-tellurides, and molybdenite. This is hosted in porphyritic felsic-intermediate ilmenite series granitoids, consistent with the expected composition of a causative intrusion in the geologic setting where Surebet was formed. The gold in these mineralized dykes is often included in composite grains with native bismuth and bismuth tellurides, a style of mineralization also found in the gold-rich shear-hosted quartz veins at Surebet. The gold mineralized intrusive feeder dykes are up to 25 meters wide and exposed along strike at surface for up to 1,500 meters, where they remain open. This strongly indicates close proximity to a gold-rich Motherlode reduced intrusive source.

The 2025 planned drill program will include 40,000 meters of systematic drilling designed to outline in detail the full geometry and extent of the Surebet discovery laterally and to depth. Goliath is armed with much more drilling and geological data with 92,000 meters drilled to date (2021 – 2024) that encompasses over 400 pierce points which has greatly improved our understanding of the exceptional Surebet discovery mineralized system that remains open for expansion in all directions. 100% of the drilling this year will be focused on the Surebet discovery, where the Company has designed a detailed drill plan that will consist of testing for the Motherlode causative intrusion gold source, testing an additional 13 potential feeder dykes observed on surface that have never been drill tested for mineralization, infill drilling with the goal of increasing the pierce points density in all known veins with a particular focus on the highest-grade areas from the Bonanza Zone and Surebet Zone intersection domain, as well as expanding the known mineralized veins laterally and to depth where they currently remain open.

About 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 predictable continuity and exceptional excellent metallurgy with gold recoveries from gravity and flotation at a 327-micrometer crush of 92.2% including 48.8% free gold from gravity alone (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 Resources is a paying member and active supporter of the Center to Advance the Science of Exploration to Reclamation in Mining (CASERM), which is one of the world’s largest research centers in the mining sector. CASERM is a collaborative research venture between Colorado School of Mines and Virginia Tech that is supported by a consortium of mining and exploration companies, analytical instrumentation and software companies, and federal agencies aiming to transform the way geoscience data is acquired and used across the mining value chain. The center forms part of the I-UCRC program of the National Science Foundation. 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. Over the past three years, Goliath Resources’ membership in CASERM has allowed world-class research to be performed on the Surebet project part of the Golddigger Property in British Columbia, Canada.

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.

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 high quality 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, McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), Mr. Rob McEwen, a Global Commodity Group based in Singapore, Mr. Eric Sprott and Mr. Larry Childress.

www.goliathresourcesltd.com