Dyke Highlights:

• 17 feeder dykes have been intersected in drill holes and/or mapped on surface, of which 13 remain to be tested. These will be logged, sampled and assayed in the upcoming 2025 program based on strong assays results from the first 4 dykes tested in 2024 providing for excellent potential to vector in and target the gold mineralizing system.
• 4 feeder dykes drilled, logged and assayed contained high-grade gold intervals that displayed visible gold, as well as molybdenite, bismuth and tellurium mineralization related to a Reduced Intrusion Related Gold System (RIRG).
• 19 holes drilled in 2021 – 2024 with highly prospective intervals of mineralized porphyritic RIRG dykes will be relogged as part of the 2025 program that suggest possibly >900 meters of new samples for a quick start of early assaying this season; mobilization planned for May 2025.
• High-grade gold mineralization was reported earlier this year from a relogged drill hole from 2022 that assayed 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters, plus a second separate interval of 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters that intersected a feeder dyke derived from the Motherlode gold-rich Reduced Intrusion Related Gold System (RIRG) source. Additional feeder dykes have also confirmed gold mineralized intrusion related in drill holes to a down-hole depth of 500 meters with grades ranging from 1.08 g/t AuEq over 1.10 meters to 10.50 g/t AuEq over 7.00 meters. The gold mineralized 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 RIRG source.
• 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 staked shear hosted quartz veins at Surebet.
• The geochronology (age) between the dykes (52.0 ± 1.5 Ma) and sedimentary/volcanic rock hosted stacked veins (50.7 ± 1.0 Ma) indicates the dykes were emplaced at a time indistinguishable from the stacked veins, suggesting a syngenetic relationship between these two mineralization stages. Also, there are two stages of gold mineralization observed petrographically in all gold bearing veins at the Surebet Discovery (see more information below).
  • An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/a4d25d0f-21f7-4266-8fb3-14c345a31cf1

• • An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/af414a47-fba3-4781-b030-ea483c3817cd

• • An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/4fee7478-6a86-43c8-9190-693018f5ef3e

• • An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/ebb2abac-668c-4a46-8597-2f40b71e3ae7

• Two stages of gold mineralization are observed petrographically in all gold bearing veins at the Surebet Discovery. The first stage is higher-temperature and occurs with a strong bismuth-gold association, which is most commonly observed in the RIRG dykes. This is further evidence these are the feeder pathway structures that provided mineralization for the high-grade gold stacked veins. The second is a lower temperature stage most commonly found in the sedimentary rocks and volcanic rocks. Certain intervals are observed containing both high temperature and low temperature stages of gold i.e. previously announced drill hole GD-24-260 that ran 34.52 g/t AuEq (34.47 Au and 3.96 Ag) over 39 meters, including 132.93 g/t AuEq (132.78 Au and 12.98 Ag) over 10.00 meters.
  • An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/b15540b6-810c-487b-9fbd-cf523bb68140

• During only 15 months of boots on the ground, 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 (RIRG) feeder dykes, confirms the continuity of the widths and grades at Surebet demonstrating this world-class gold system has tremendous untapped expansion potential remaining.
• Confirmation of high gold grades over broad intervals in the recently discovered RIRG system characterized by considerable amounts of visible gold, bismuth, bismuth tellurides and molybdenum mineralization in the felsic to intermediate porphyritic dykes on Surebet materially increases the resource potential of the Surebet discovery. Targeting the feeder dykes and Motherlode gold-rich source will form part of the drill program in 2025 as well expanding the stacked layers of high-grade gold mineralization currently covering at least 1.8 km² that remains open in all directions on the Surebet discovery.

Dyke Maps & Cross Sections

• An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/10692b84-5c3e-43a2-a7c8-5a1484773ed9

• An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/f4e5c986-c1e6-456e-bfe0-2e53c3c49f1d

• An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/5d3076be-c02a-4737-b247-4ab8c98f7ab3

• An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/13f5532c-bf70-4065-8c92-460cdaf423dd

Drilling Highlights – Dyke Assays Previously Reported:

• GD-22-58, a 2022 drill hole that was relogged in 2024 and previously reported this year intercepted two separate intervals with exceptional gold grades over substantial widths within a reduced intrusion related porphyritic intermediate feeder dyke containing visible gold, bismuth and molybdenum mineralization reminiscent of a RIRG system. The dyke is up to 15 meters wide and strikes north-south for 1,400 meters on surface with 600 meters of vertical relief and remains open:
  • 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters, including 19.91 g/t AuEq (19.62 g/t Au and 25.61 g/t Ag) over 6.00 meters, including 23.82 g/t AuEq (23.47 g/t Au and 30.54 g/t Ag) over 5.00 meters.
  • 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters, including 14.26 g/t AuEq (13.87 g/t Au and 34.10 g/t Ag) over 3.00 meters.
    • An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/ec0912af-7014-47b6-812f-0e32c08b6803

• GD-24-237 previously reported intercepted a mineralized intermediate porphyritic dyke that assayed 10.50 g/t AuEq (10.41 f/t Au and 7.15 g/t Ag) over 7.00 meters, including 14.68 g/t AuEq (14.55 g/t Au and 9.82 g/t Ag) over 5.00 meters, and 24.42 g/t AuEq (24.22 g/t Au and 16.01 g/t Ag) over 3.00 meters. The dyke is up to 25 meters wide and strikes north-south for 1,500 meters on surface with 900 m of vertical relief and remains open.
• GD-23-180, a 2023 drill hole that was relogged in 2024 and previously reported this year intercepted a mineralized intermediate porphyritic dyke that assayed 3.46 g/t AuEq (3.43 g/t Au and 2.68 g/t Ag) over 7.00 meters including 4.49 g/t AuEq (4.44 g/t Au and 3.75 g/t Ag) over 5 meters. Based on drill information to date the dyke has a northeast-southwest strike extent of 300 meters of strike with 400 meters of vertical relief and remains open. This dyke is not exposed to the surface.
• Drill hole GD-23-226 previously reported intercepted a mineralized intermediate porphyritic dyke that assayed 1.85 g/t AuEq (1.85 g/t Au and 0.00 g/t Ag) over 8 meters, including 6.03 g/t AuEq (6.03 g/t Au and 0.00 g/t Ag) over 2 meters. The dyke is up to 25 meters wide and strikes north-south for 1,500 meters on surface with 900 meters of vertical relief and remains open.
  • An accompanying infographic is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/5fe11314-e6ce-4f69-b9af-7fa504ee2deb

Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) is pleased to report updated modelling confirms the large gold rich stacked layered system of 1.2 kilometres over an area of 1.8 square kilometres is directly associated to a Motherlode Reduced Intrusive Gold System (RIRG) source with multiple gold rich feeder dykes at Surebet on its 100% controlled Golddigger Property, Golden Triangle, B.C. Previously reported feeder dyke holes assayed up to 12 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10 meters and remains open for expansion. These RIRG feeder dykes are up to 25 meters wide and exposed at surface along strike for up to 1,500 meters and remain open. The geochronology age between the dykes (52.0 ± 1.5 Ma) and sedimentary/volcanic rock hosted stacked veins (50.7 ± 1.0 Ma) indicates the dykes were emplaced at a time indistinguishable from the stack veins, suggesting a syngenetic relationship between these two mineralization stages.

17 feeder dykes have been intersected in drill holes and/or mapped on surface, of which 13 remain to be tested. These will be logged, sampled and assayed in the upcoming quick start 2025 program based on strong assays results from the first 4 feeder dykes tested in 2024. These provide for excellent potential to vector in and target the gold mineralizing system. 4 of the feeder dykes logged and assayed contained high-grade gold intervals that displayed visible gold, as well as molybdenite, bismuth and tellurium mineralization related to a Reduced Intrusion Related Gold System (RIRG). 19 drill holes from 2021 – 2024 with highly prospective intervals of mineralized porphyritic dykes will relogged and assayed as part of the 2025 program that suggest possibly >900 meters of new samples for assaying early on in the season; mobilization is scheduled for May this year.

Dr. Quinton Hennigh, Geologic/Technical Director of Crescat Capital, a strategic investor in Goliath, states: “At the Surebet Discovery, we now see compelling evidence of the causative intrusion that generated this remarkable high-grade gold system. A series of steeply dipping dykes encountered in some recent diamond drill holes bear quartz-sulfide veins and veinlets with compositions strongly similar to those of the numerous shallow dipping and flat lodes that have been the main focus of exploration to date. Age dating shows that the emplacement of these dykes is very close to the age of mineralization. This is intriguing for three reasons. Firstly, it indicates that the dykes themselves are a very prospective, potentially extensive exploration target. Secondly, the dykes and mineralisation forming fluids are clearly tapping the same structures, ones that are presumably deeply rooted and coming from a parent magma source at depth. This could mean there is a lot more gold in the system to explore under and laterally at the Surebet Discovery. Lastly, it is also immediately evident that there is a spatial relation between these dykes and the location of most of the highest grade intercepts encountered to date. In short, we now have a clear vector to guide future drilling at high-grade areas. The 2025 drill season cannot start soon enough.”

Randall Karcher, CASERM researcher and PhD student at the Colorado School of Mines, states: “The granitoid dykes at Surebet have several characteristics which indicate they are part of the system responsible for gold mineralization on the property. Gold in the mineralized dykes occurs within composite grains alongside native bismuth and bismuth tellurides. This style of gold mineralization is also found in the gold rich quartz vein elsewhere at Surebet. Furthermore, the dykes are felsic-intermediate ilmenite series granitoids, which is the expected composition of a causative intrusion in the setting where Surebet was formed. Finally, coincident geochronology between the dykes and the sedimentary/volcanic rock hosted stacked veins indicates that the dykes were emplaced at a time indistinguishable from the veins, suggesting a syngenetic relationship between the two. The discovery of gold bearing intrusive rocks of this character provide strong exploration implications for the intrusive “feeder system”. Additionally, the abundance of local intrusive rocks at Golddigger of similar ages to mineralization show strong exploitation potential moving forward.”

Roger Rosmus, Founder and CEO of Goliath, states: “Recently completed detailed modelling of our drilling to date has shown that in addition to a series of gently dipping vertically stacked veins over 1.2km at the Surebet high-grade gold discovery, there are also a series of near vertical RIRG gold mineralization within the dykes. Our geological team is excited about these dykes and stacked veins being roughly the same age in geological terms that point to a Motherlode RIRG source. If one considers that there are stacked veins dipping toward the southeast and others to the southwest, plus the network of vertical dykes with the higher-temperature gold and occurs with a strong bismuth-gold suggests they are connected and proximal to the source. Things are shaping up to look like we have the potential for a combination of stacked veins similar to the Pogo Mine in combination with a RIRG system like Snowline’s discovery in the Yukon. Both the Pogo Mine and Snowline’s discovery are part of the Tintina Gold Province, and it is remarkable that we could see something similar as part of the same system in the prolific Golden Triangle to the south of the Tintina Gold Province. We look forward to a quick start to our exploration season in May 2025 this year, we will be relogging and assaying the 19 holes of feeder dyke core drilled between 2021 – 2024 that could possibly end up being >900 meters being sent to the lab. Drilling this exploration season will look to further expanding the stacked veins and dykes for vectoring into the source of the gold system at the Surebet Discovery.”

Dykes – drilling results previously reported:

• GD-22-58 previously reported intercepted two separate intervals with exceptional gold grades over substantial widths within a reduced intrusion related porphyritic intermediate feeder dyke containing visible gold, bismuth and molybdenum mineralization reminiscent of a RIRG system. The dyke is up to 15 m wide and strikes north-south for 1400 meters on surface with 600 meters of vertical relief and remains open:
  • 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters, including 19.91 g/t AuEq (19.62 g/t Au and 25.61 g/t Ag) over 6.00 meters, including 23.82 g/t AuEq (23.47 g/t Au and 30.54 g/t Ag) over 5.00 meters.
  • 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters, including 14.26 g/t AuEq (13.87 g/t Au and 34.10 g/t Ag) over 3.00 meters.
• Drill hole GD-24-237 previously reported intercepted a mineralized intermediate porphyritic dyke that assayed 10.50 g/t AuEq (10.41 f/t Au and 7.15 g/t Ag) over 7.00 meters, including 14.68 g/t AuEq (14.55 g/t Au and 9.82 g/t Ag) over 5.00 meters, and 24.42 g/t AuEq (24.22 g/t Au and 16.01 g/t Ag) over 3.00 meters. The dyke is up to 25 meters wide and strikes north-south for 1500 meters on surface with 900 m of vertical relief and remains open.
• Drill hole GD-23-180 previously reported intercepted a mineralized intermediate porphyritic dyke that assayed 3.46 g/t AuEq (3.43 g/t Au and 2.68 g/t Ag) over 7.00 meters including 4.49 g/t AuEq (4.44 g/t Au and 3.75 g/t Ag) over 5 meters. Based on drill information to date the dyke has a northeast-southwest strike extent of 300 meters strike with 400 meters of vertical relief and remains open. The dyke is not exposed on surface.
• Drill hole GD-23-226 previously reported intercepted a mineralized intermediate porphyritic dyke that assayed 1.85 g/t AuEq (1.85 g/t Au and 0.00 g/t Ag) over 8 meters, including 6.03 g/t AuEq (6.03 g/t Au and 0.00 g/t Ag) over 2 meters. The dyke is up to 25 meters wide and strikes north-south for 1,500 meters on surface with 900 meters of vertical relief and remains open.

The granitoid dykes at Surebet have several characteristics which indicate they are part of the system responsible for gold mineralization on Surebet. 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 staked shear hosted quartz veins at Surebet. The geochronology age between the dykes (52.0 ± 1.5 Ma) and sedimentary/volcanic rock hosted stacked veins (50.7 ± 1.0 Ma) indicates the dykes were emplaced at a time indistinguishable from the stack veins, suggesting a syngenetic relationship between these two mineralization stages.

Table 1: Highlighted drill holes that intercepted RIRG in dykes – previously reported.

All 4 dykes logged and assayed contained high-grade gold intervals that displayed visible gold, as well as molybdenite, bismuth and tellurium mineralization. An additional 13 dykes have been intersected in drill holes and/or mapped on the surface and remain to be tested. These will be logged, sampled and assayed in the upcoming 2025 program based on strong assays results from the first 4 dykes tested in 2024 providing for excellent additional resource potential.

Table 2: 19 Drill holes with highly prospective intervals of mineralized porphyritic dykes to relog and assay in 2025 (~900 meters).

During only 15 months of boots on the ground, 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.

The drill program being planned in 2025 will focus on expanding the stacked veins of high-grade gold mineralization that remains open in all directions, including to depth and vectoring in on and targeting the Motherlode RIRG believed to be the source for the extensive high-grade gold mineralization on the Surebet Discovery. 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.

Table 3: Collar information for drill holes from Surebet 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 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.