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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.

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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.

Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF)  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, 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.

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

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.

Hole ID Zone   From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) AuEq (g/t)
GD-24-254 Whopper Interval 109.78 112.54 2.76 4.87 14.05 0.01 0.37 0.12 5.15
Surebet Upper Interval 277.67 280.70 3.03 3.28 9.30 0.00 0.14 0.39 3.54
Bonanza Interval 371.90 385.00 13.10 7.01 9.70 0.02 0.32 0.37 7.33
Including 374.83 385.00 10.17 8.99 12.21 0.03 0.41 0.47 9.39
Including 379.00 384.00 5.00 17.29 22.75 0.06 0.83 0.92 18.06
Bonanza Interval 422.00 426.00 4.00 4.02 4.49 0.01 0.01 0.01 4.08
Golden Gate Interval 603.00 608.00 5.00 12.39 19.74 0.01 0.02 0.15 12.67
GD-24-293 NEW Interval 190.75 193.95 3.20 1.89 11.44 0.02 0.19 0.70 2.29
Bonanza Interval 211.00 216.00 5.00 5.47 17.45 0.01 0.27 0.60 5.91
Including 212.00 215.00 3.00 9.10 28.89 0.02 0.45 0.99 9.84
Bonanza Interval 231.90 233.70 1.80 4.36 4.76 0.01 0.01 0.03 4.44
Bonanza Interval 278.00 283.00 5.00 3.09 2.01 0.01 0.01 0.04 3.14
Including 280.00 283.00 3.00 4.47 3.23 0.01 0.02 0.06 4.54
GD-24-269 Surebet Upper Interval 107.00 115.00 8.00 2.10 186.42 0.02 0.43 0.14 4.34
Including 108.00 115.00 7.00 2.36 200.28 0.02 0.48 0.16 4.77
Surebet Lower Interval 258.00 261.00 3.00 3.22 83.68 0.02 0.02 0.02 4.18
GD-24-245 Goldzilla Interval 341.00 344.00 3.00 2.47 26.44 0.02 0.61 0.57 3.09
NEW Interval 384.00 387.00 3.00 3.75 14.39 0.02 0.18 0.17 4.02
Surebet Upper Interval 436.00 441.00 5.00 6.88 2.15 0.00 0.00 0.01 6.91
Including 437.00 440.00 3.00 11.42 3.25 0.00 0.01 0.01 11.46
Bonanza Interval 522.00 530.00 8.00 4.14 12.57 0.03 0.11 0.35 4.44
Including 522.00 527.00 5.00 6.12 15.27 0.04 0.15 0.31 6.46
GD-24-264 Bonanza Interval 32.00 35.00 3.00 3.05 1.73 0.01 0.00 0.02 3.09
Bonanza Interval 49.00 70.00 21.00 2.22 2.37 0.01 0.03 0.06 2.28
Including 49.00 57.00 8.00 3.91 4.13 0.01 0.07 0.11 4.01
GD-24-297 Bonanza Interval 26.05 31.00 4.95 2.39 1.19 0.01 0.01 0.03 2.42
Bonanza Including 26.05 29.00 2.95 3.59 1.36 0.01 0.01 0.02 3.62
Interval 66.00 69.14 3.14 12.61 4.39 0.01 0.01 0.03 12.68
GD-24-258 Surebet Upper Interval 241.00 246.00 5.00 4.27 17.68 0.01 0.46 0.13 4.61
Including 243.00 246.00 3.00 7.10 28.86 0.01 0.77 0.21 7.66
GD-24-268 Surebet Lower Interval 387.00 391.00 4.00 5.73 1.58 0.00 0.00 0.01 5.76
Including 388.00 391.00 3.00 7.63 2.07 0.00 0.00 0.01 7.66
GD-24-293 NEW Interval 190.75 193.95 3.20 1.89 11.44 0.02 0.19 0.70 2.29
Bonanza Interval 211.00 216.00 5.00 5.47 17.45 0.01 0.27 0.60 5.91
Including 212.00 215.00 3.00 9.10 28.89 0.02 0.45 0.99 9.84
Bonanza Interval 231.90 233.70 1.80 4.36 4.76 0.01 0.01 0.03 4.44
Bonanza Interval 278.00 283.00 5.00 3.09 2.01 0.01 0.01 0.04 3.14
Including 280.00 283.00 3.00 4.47 3.23 0.01 0.02 0.06 4.54
GD-24-270 Surebet Upper Interval 286.51 289.50 2.99 3.61 5.12 0.01 0.06 0.09 3.72
Bonanza Interval 365.10 370.90 5.80 3.60 11.49 0.02 0.41 0.74 4.07
Including 368.00 370.90 2.90 5.80 21.29 0.04 0.80 1.42 6.69
Including 369.00 370.90 1.90 8.76 31.53 0.05 1.20 2.16 10.09
GD-24-256 Surebet Upper Interval 257.00 260.00 3.00 2.62 3.15 0.00 0.00 0.08 2.69
Surebet Upper Interval 271.00 276.00 5.00 4.05 16.65 0.01 0.31 0.20 4.38
Including 273.00 276.00 3.00 6.59 23.57 0.01 0.50 0.24 7.05
Surebet Lower Interval 285.00 289.00 4.00 2.66 19.00 0.00 0.39 0.14 3.01
GD-24-246 Whopper Interval 267.00 271.00 4.00 4.91 8.21 0.01 0.07 0.14 5.07
Golden Gate Interval 693.30 697.82 4.52 1.68 10.74 0.02 0.02 0.31 1.92
Including 695.75 697.82 2.07 3.27 19.00 0.03 0.03 0.56 3.69

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)

Hole ID From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) AuEq (g/t) Comment
GD-24-236 Interval 26.68 30.00 3.32 2.59 26.41 0.01 0.25 0.14 3.00 Partially released
Jul 30, 2025
GD-24-237 Interval 566.00 570.00 4.00 2.61 11.25 0.01 0.07 0.76 2.99 Partially released
Dec 12, 2024
Including 569.00 570.00 1.00 9.50 35.10 0.02 0.21 1.40 10.39
GD-24-238 Interval 280.85 284.00 3.15 1.41 23.45 0.05 0.52 0.04 1.85
GD-24-240 Interval 368.89 371.89 3.00 1.91 3.26 0.01 0.01 0.61 2.14
Interval 577.00 580.08 3.08 2.23 7.30 0.01 0.02 0.55 2.49
GD-24-241 Interval 370.00 374.00 4.00 1.85 4.51 0.00 0.06 0.93 2.20
Interval 474.00 476.00 2.00 3.64 1.31 0.01 0.01 0.01 3.67 Partially released
Feb 10, 2025
GD-24-242 Interval 215.00 232.00 17.00 1.55 7.85 0.01 0.09 0.27 1.75 Partially released
Jan 13, 2025
Including 219.00 225.00 6.00 2.24 8.76 0.01 0.13 0.26 2.46
Interval 317.85 323.79 5.94 0.87 117.86 0.14 0.57 0.99 2.75
Including 318.71 321.54 2.83 1.57 239.16 0.26 1.15 1.98 5.37
GD-24-243 Interval 138.00 141.00 3.00 1.90 3.27 0.01 0.05 0.19 2.01
Interval 241.00 244.01 3.01 2.13 25.16 0.02 0.46 0.31 2.62
GD-24-247 Interval 529.00 532.00 3.00 2.35 2.17 0.02 0.00 0.60 2.58
GD-24-252 Interval 464.00 468.00 4.00 2.07 2.37 0.01 0.01 0.12 2.14 Partially released
Jan 13, 2025
Including 465.00 467.00 2.00 4.12 4.29 0.01 0.02 0.23 4.25
GD-24-253 Interval 569.03 571.88 2.85 2.20 4.05 0.01 0.00 0.01 2.25
GD-24-259 Interval 241.00 244.00 3.00 3.86 5.19 0.01 0.01 0.09 3.96
Interval 281.00 283.00 2.00 3.08 3.26 0.01 0.02 0.06 3.15
GD-24-265 Interval 51.97 53.00 1.03 1.32 1.40 0.00 0.00 0.01 1.35
GD-24-266 Interval 455.00 458.00 3.00 0.68 0.61 0.00 0.00 0.01 0.70
GD-24-267 Interval 326.00 329.00 3.00 2.83 7.92 0.01 0.07 0.63 3.14
GD-24-271 Interval 72.00 73.00 1.00 1.20 0.62 0.00 0.00 0.01 1.21
GD-24-274 Interval 234.00 237.00 3.00 4.48 6.24 0.01 0.13 0.14 4.64
Interval 443.03 446.00 2.97 3.38 1.90 0.01 0.00 0.01 3.41
GD-24-277 Interval 69.00 77.00 8.00 1.76 1.86 0.01 0.01 0.18 1.85
Including 72.00 75.00 3.00 3.51 1.57 0.01 0.01 0.12 3.57
GD-24-278 Interval 434.00 437.05 3.05 3.32 1.29 0.01 0.00 0.44 3.48
GD-24-279 Interval 224.00 227.07 3.07 3.12 19.03 0.08 0.36 0.43 3.62
Interval 348.00 350.58 2.58 2.76 6.37 0.03 0.02 0.56 3.04
GD-24-281 Interval 374.00 377.00 3.00 3.44 33.46 0.01 1.03 0.33 4.15
GD-24-282 Interval 264.25 269.85 5.60 1.51 31.68 0.03 0.41 1.02 2.29
Including 268.00 269.85 1.85 2.45 43.74 0.02 0.63 0.75 3.33
GD-24-284 Interval 221.00 231.00 10.00 1.32 3.99 0.01 0.02 0.09 1.41
Including 228.00 231.00 3.00 2.91 3.07 0.01 0.02 0.11 3.00
GD-24-285 Interval 72.00 76.00 4.00 1.38 57.21 0.01 0.34 0.43 2.23
Interval 151.00 154.00 3.00 2.01 43.48 0.02 0.31 0.59 2.76
Interval 223.00 226.00 3.00 2.12 13.20 0.00 0.07 0.14 2.33
GD-24-286 Including 310.00 313.00 3.00 3.71 7.17 0.01 0.14 0.08 3.86  
Interval 310.00 316.00 6.00 2.19 4.77 0.01 0.08 0.16 2.32
Interval 324.17 328.01 3.84 2.75 0.67 0.01 0.01 0.09 2.79
GD-24-287 Interval 29.00 32.05 3.05 2.23 1.06 0.01 0.01 0.02 2.26
Interval 39.00 64.00 25.00 1.64 3.30 0.01 0.05 0.13 1.73
Including 52.00 57.00 5.00 4.09 3.30 0.01 0.04 0.18 4.21
Interval 103.00 108.00 5.00 2.83 1.57 0.01 0.01 0.16 2.90
Including 105.00 108.00 3.00 4.24 2.01 0.01 0.01 0.25 4.35
Interval 193.00 195.85 2.85 2.93 1.99 0.02 0.01 0.15 3.01
Including 193.00 195.85 2.85 2.93 1.99 0.02 0.01 0.15 3.01
GD-24-288 Interval 57.72 60.17 2.45 1.95 20.19 0.08 0.02 0.01 2.26
GD-24-295 Interval 236.00 240.05 4.05 1.79 6.20 0.01 0.09 0.56 2.06
GD-24-299 Interval 190.00 193.00 3.00 3.09 10.97 0.02 0.21 0.28 3.36
GD-24-61 Interval 195.00 196.00 1.00 1.39 0.06 0.00 0.00 0.01 1.40 Dyke relog
GD-24-77 Interval 41.00 44.00 3.00 1.00 3.77 0.00 0.00 0.01 1.05 Dyke relog
GD-24-183 Interval 122.00 134.00 12.00 2.28 2.29 0.00 0.00 0.01 2.31 Dyke relog
GD-24-209 Interval 341.00 343.00 2.00 1.11 1.12 0.00 0.01 0.02 1.13 Dyke relog
GD-24-221 Interval 89.90 91.00 1.10 1.06 0.83 0.00 0.00 0.01 1.08 Dyke relog
GD-24-142 Interval 91.00 93.85 2.85 1.27 1.69 0.00 0.01 0.03 1.30 Relog
GD-24-170 Interval 248.00 251.00 3.00 1.40 2.53 0.01 0.00 0.10 1.46 Relog
GD-24-179 Interval 482.00 485.00 3.00 1.23 0.65 0.00 0.00 0.02 1.25 Relog
GD-24-188 Interval 55.00 60.94 5.94 1.07 0.59 0.01 0.00 0.05 1.10 Relog

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

Hole ID CRS Easting (m) Northing (m) Elevation (m) Azimuth (deg) Dip (deg) Length (m)
GD-24-61 NAD83 / UTM zone 9N 456577 6162712 1580.009 0 60 670
GD-24-77 NAD83 / UTM zone 9N 457190 6162991 1655.546 130 75 504
GD-24-142 NAD83 / UTM zone 9N 457850 6162415 1092.675 250 60 168.59
GD-24-170 NAD83 / UTM zone 9N 457452 6162782 1513.85 130 55 543
GD-24-179 NAD83 / UTM zone 9N 457570 6162454 1443 134 60 544
GD-24-183 NAD83 / UTM zone 9N 457337 6162680 1443.576159 100 65 507
GD-24-188 NAD83 / UTM zone 9N 457592 6162375 1117.3 325 55 299
GD-24-209 NAD83 / UTM zone 9N 457452 6162781 1513.312 140 65 397
GD-24-221 NAD83 / UTM zone 9N 457570 6162454 1443 70 70 273
GD-24-236 NAD83 / UTM zone 9N 457754 6163136 1569.426 200 34 350
GD-24-237 NAD83 / UTM zone 9N 457445 6162777 1511.23 140 70 848
GD-24-238 NAD83 / UTM zone 9N 457755 6163134 1568.69 240 50 380
GD-24-240 NAD83 / UTM zone 9N 457259 6162713 1474.692 68 65 819
GD-24-241 NAD83 / UTM zone 9N 457446 6162777 1511.152 140 60 738
GD-24-242 NAD83 / UTM zone 9N 457447 6162776 1511.604 120 63 862
GD-24-243 NAD83 / UTM zone 9N 457258 6162713 1474.809 68 75 702
GD-24-245 NAD83 / UTM zone 9N 457059 6163026 1654.16 171 71 807
GD-24-246 NAD83 / UTM zone 9N 457381 6162945 1622.806 165 88 750
GD-24-247 NAD83 / UTM zone 9N 457257 6162713 1475.295 100 69 673.83
GD-24-252 NAD83 / UTM zone 9N 457444 6162778 1512.499 110 80 671.4
GD-24-253 NAD83 / UTM zone 9N 457383 6162942 1622.15 110 74 703
GD-24-254 NAD83 / UTM zone 9N 457256 6162711 1473.986 110 74 828
GD-24-256 NAD83 / UTM zone 9N 457444 6162779 1511.734 105 50 370
GD-24-258 NAD83 / UTM zone 9N 457382 6162946 1622.538 20 60 373
GD-24-259 NAD83 / UTM zone 9N 457447 6162778 1511.498 92 45 402
GD-24-264 NAD83 / UTM zone 9N 457698 6162438 1132.766 270 77 1013.3
GD-24-265 NAD83 / UTM zone 9N 457885 6162617 1175.373 130 65 426
GD-24-266 NAD83 / UTM zone 9N 457381 6162942 1622.377 140 72.5 654
GD-24-267 NAD83 / UTM zone 9N 457938 6162554 1137.013 195 60 450
GD-24-268 NAD83 / UTM zone 9N 457364 6162757 1506.202 145 58 591
GD-24-269 NAD83 / UTM zone 9N 457581 6163351 1713.028 145 45 360
GD-24-270 NAD83 / UTM zone 9N 457258 6162712 1474.668 150 66.5 549
GD-24-271 NAD83 / UTM zone 9N 457938 6162555 1136.9 195 85 483
GD-24-274 NAD83 / UTM zone 9N 457446 6162779 1512.781 50 70 742.13
GD-24-277 NAD83 / UTM zone 9N 457701 6162440 1132.636 0 80 990.3
GD-24-278 NAD83 / UTM zone 9N 457255 6162710 1473.759 175 67 654.23
GD-24-279 NAD83 / UTM zone 9N 457051 6162467 1326.224 55 48 510
GD-24-281 NAD83 / UTM zone 9N 457258 6162714 1475.409 195 59 420
GD-24-282 NAD83 / UTM zone 9N 457059 6163030 1655.437 20.5 81 453
GD-24-283 NAD83 / UTM zone 9N 457363 6162756 1505.601 135 55 650
GD-24-284 NAD83 / UTM zone 9N 457447 6162779 1512.886 30 70 597
GD-24-285 NAD83 / UTM zone 9N 457579 6163351 1713.87 185 55 358
GD-24-286 NAD83 / UTM zone 9N 457050 6162465 1325.977 90 50 507
GD-24-287 NAD83 / UTM zone 9N 457702 6162437 1132.169 80 75 331
GD-24-288 NAD83 / UTM zone 9N 458922 6162048 688.145 135 48 118
GD-24-293 NAD83 / UTM zone 9N 457051 6162464 1325.215 125 65 501
GD-24-295 NAD83 / UTM zone 9N 457445 6162780 1512.266 15 75 776
GD-24-297 NAD83 / UTM zone 9N 457702 6162435 1132.072 165 55 366
GD-24-299 NAD83 / UTM zone 9N 457881 6162623 1176.41 320 48 349

 

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.

Hole ID   From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) AuEq (g/t)
TI-24-04 Interval 47.00 54.12 7.12 0.55 8.86 0.57 0.00 0.01 1.25
Including 48.60 51.50 2.90 1.02 18.42 1.10 0.00 0.00 2.37
Including 48.60 50.00 1.40 1.71 23.94 1.39 0.00 0.00 3.43
Interval 381.00 384.00 3.00 0.09 4.06 0.27 0.00 0.00 0.41
Including 382.00 383.00 1.00 0.23 11.67 0.77 0.00 0.00 1.17
TI-24-08 Interval 58.45 67.95 9.50 0.38 3.94 0.22 0.00 0.00 0.65
Including 59.30 64.30 5.00 0.50 5.42 0.38 0.00 0.00 0.95
Including 61.09 62.00 0.91 1.57 22.96 1.85 0.00 0.00 3.76
TI-24-05 Interval 23.40 27.50 4.10 0.90 6.59 0.35 0.00 0.00 1.34
Including 23.40 25.65 2.25 1.56 10.44 0.55 0.00 0.00 2.26
Including 23.40 24.50 1.10 2.55 13.21 0.74 0.00 0.00 3.47
Interval 185.95 189.10 3.15 0.52 1.38 0.01 0.00 0.02 0.55
Including 187.25 188.25 1.00 1.19 0.81 0.01 0.00 0.01 1.21
TI-24-01 Interval 381.50 387.30 5.80 0.24 8.17 0.04 0.17 0.34 0.51
Including 381.50 382.50 1.00 0.63 32.64 0.01 0.00 0.03 1.01
Including 386.44 387.30 0.86 0.05 0.04 0.12 1.14 2.26 1.11
Interval 406.00 409.10 3.10 0.56 0.32 0.01 0.00 0.01 0.58
Including 407.00 408.00 1.00 1.52 0.33 0.01 0.00 0.01 1.54
TI-24-03 Interval 259.00 261.56 2.56 0.11 1.84 0.33 0.00 0.00 0.48
Including 259.86 260.71 0.85 0.24 4.19 0.79 0.00 0.00 1.11

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.

Drill Hole CRS Northing (m) Easting (m) Elevation (m) Azimuth (deg) Dip (deg) Length (m)
TI-24-01 NAD 83/ UTM zone 9N 6197958 447645.5 1625 142 45 511
TI-24-03 NAD 83/ UTM zone 9N 6197956 447645.5 1626 83 85 317
TI-24-04 NAD 83/ UTM zone 9N 6197956 447645.5 1626 67 65 390.45
TI-24-05 NAD 83/ UTM zone 9N 6197855 447781.2 1637 21 65 191
TI-24-08 NAD 83/ UTM zone 9N 6197941 447555.9 1595 10 60 164

 

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.

Posted February 27, 2025
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