Compilation, Interpretation, and Modeling of Results from 83 Additional Drill Holes are Ongoing

Drilling Highlights:

• Strong gold mineralization of 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, as well as a second separate intersection of 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, were confirmed in an intrusion-related feeder dyke that remains open, strongly indicating proximity to a large gold-bearing intrusive source at depth (Reduced Intrusion Related Gold System, RIRG).
• Strong mineralization confirmed in 100% of 243 widespread drill holes with 300 intersections to date in a 1.8 km² area, where 8 stacked gold veins and 5 new stacked gold veins were identified and confirmed by assays. The confirmation of multiple stacked gold veins and extensive gold-bearing reduced intrusion feeder dykes within the 1.8 km² area to a depth of more than 1.2 km, open both laterally and at depth, confirms the continuity of thicknesses and grades at Surebet and shows that this world-class gold system still has enormous, untapped expansion potential.
  An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/0b6e643d-f07f-42e5-946c-1ff3dc37f658
• GD-22-58 intersected two separate sections with exceptional gold grades over significant widths within a reduced, intrusion-related, porphyritic, intermediate feeder dyke containing visible gold, bismuth, and molybdenum mineralization reminiscent of an RIRG system that 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/8be74eae-e539-40a0-8fe3-f97bb0fdf895
• Widespread gold-bearing RIRG mineralization in mineralized porphyritic rock units was previously intersected in drill holes GD-24-237, which intersected 10.50 g/t AuEq (10.41 g/t Au and 7.15 g/t Ag) over 7.00 meters, GD-23-180, which intersected 3.46 g/t AuEq (3.43 g/t Au and 2.68 g/t Ag) over 7.00 meters, and GD-23-226, which intersected 1.85 g/t AuEq (1.85 g/t Au and 0.00 g/t Ag) over 8 meters.
  An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/63470c45-400d-4a16-8b04-e10e01646567
• Continued confirmation of high gold grades in this newly discovered RIRG system, characterized by significant amounts of visible gold, bismuth, and molybdenum mineralization in the felsic to intermediate porphyritic dykes at Surebet as well as in the intrusions surrounding Surebet (i.e., Blue Origin), could significantly increase the resource potential of the Surebet discovery.
• Drilling in 2025 will focus on expanding the stacked layers of gold mineralization, which remain open in all directions, including at depth, and on the reduced intrusion indicated at depth, believed to be the source of the extensive high-grade gold mineralization at the Surebet discovery, which currently extends over at least 1.8 km².
• GD-24-250 intersected multiple stacked sections of strong gold mineralization consisting of quartz-sulfide veins and breccias with visible gold, sphalerite, and galena from the Whopper vein, Surebet Zone, and Bonanza Shear, which remain open:
• Whopper Vein: 6.55 g/t AuEq (6.45 g/t Au and 4.08 g/t Ag) over 6.69 meters, including 9.48 g/t AuEq (9.34 g/t Au and 5.33 g/t Ag) over 4.61 meters.
  Surebet Zone: 4.49 g/t AuEq (3.88 g/t Au and 14.44 g/t Ag) over 4.90 meters, including 5.48 g/t AuEq (4.72 g/t Au and 29.92 g/t Ag) over 3.75 meters.
  Bonanza Shear: 11.66 g/t AuEq (11.13 g/t Au and 17.82 g/t Ag) over 5.97 meters, including 17.48 g/t AuEq (16.71 g/t Au and 26.24 g/t Ag) over 3.97 meters.
  An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/4b5f7eb9-693c-46c7-bbaf-904e913d3af4
• GD-24-291 intersected significant gold mineralization consisting of quartz-sulfide veins and breccia sections with visible gold, galena, sphalerite, and minor chalcopyrite in multiple stacked intervals corresponding to the Bonanza Shear and Golden Gate Zone, which remain open:
• Bonanza Shear: 6.14 g/t AuEq (6.10 g/t Au and 1.50 g/t Ag) over 5.00 meters, including 16.15 g/t AuEq (16.12 g/t Au and 1.24 g/t Ag) over 1.00 meter.
  Bonanza Shear: 2.86 g/t AuEq (2.74 g/t Au and 5.37 g/t Ag) over 6.00 meters, including 8.35 g/t AuEq (8.23 g/t Au and 6.34 g/t Ag) over 1 meter.
  Golden Gate: 6.32 g/t AuEq (6.29 g/t Au and 1.51 g/t Ag) over 6.00 meters, including 9.45 g/t AuEq (9.41 g/t Au and 2.07 g/t Ag) over 4.00 meters.
  An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a3eefe41-11b7-4f32-86d3-987a3abd2b6c
• GD-24-263 intersected 3 stacked gold mineralized zones with quartz-sulfide vein stockwork and breccias with intervals of semi-massive to massive sphalerite and galena, as well as visible gold in an interval corresponding to the Bonanza Shear that remains open:
  New Stacked Gold Vein: 2.06 g/t AuEq (1.92 g/t Au and 4.01 g/t Ag) over 6.17 meters, including 2.43 g/t AuEq (2.27 g/t Au and 4.57 g/t Ag) over 5.13 meters.
  New Stacked Gold Vein: 2.08 g/t AuEq (1.93 g/t Au and 5.76 g/t Ag) over 10.32 meters, including 2.24 g/t AuEq (2.06 g/t Au and 6.78 g/t Ag) over 5.19 meters.
  Bonanza Shear: 8.56 g/t AuEq (8.37 g/t Au and 12.71 g/t Ag) over 6.00 meters, including 10.27 g/t AuEq (10.05 g/t Au and 15.25 g/t Ag) over 5.00 meters, including 12.84 g/t AuEq (12.56 g/t Au and 19.02 g/t Ag) over 4.00 meters.
  An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/8c5c59aa-b4f9-40f6-84ae-6e6d3a40f704
• GD-24-290 intersected exceptional stacked intervals of quartz-sulfide veins and breccias in 4 mineralized horizons containing pyrrhotite, sphalerite, and galena, with the deepest corresponding to the Bonanza Shear which remains open:
• New Stacked Gold Vein: 7.96 g/t AuEq (7.88 g/t Au and 5.52 g/t Ag) over 4.85 meters, including 13.49 g/t AuEq (13.38 g/t Au and 8.87 g/t Ag) over 2.85 meters.
  New Stacked Gold Vein: 3.42 g/t AuEq (3.40 g/t Au and 1.44 g/t Ag) over 5.00 meters, including 8.41 g/t AuEq (8.38 g/t Au and 2.88 g/t Ag) over 2.00 meters.
  New Stacked Gold Vein: 4.50 g/t AuEq (4.49 g/t Au and 0.84 g/t Ag) over 5.15 meters.
  Bonanza Shear: 4.24 g/t AuEq (4.18 g/t Au and 2.71 g/t Ag) over 4.98 meters.
  An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/49f7b451-444c-4f59-a570-974285be6b3d
• GD-24-241 intersected an excellent interval of quartz-sulfide veins containing visible gold, sphalerite, and galena corresponding to the Bonanza Shear which remains open:
• Bonanza Shear: 3.00 g/t AuEq (2.72 g/t Au and 7.67 g/t Ag) over 15.00 meters, including 3.65 g/t AuEq (3.27 g/t Au and 10.20 g/t Ag) over 11.00 meters, including 4.22 g/t AuEq (3.83 g/t Au and 11.46 g/t Ag) over 8.00 meters.
  An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/e1558a6a-11a5-4217-aee6-5d279f914c9f
• After only 15 months on site, the strong mineralization observed in 100% of the 243 drill holes over an area of 1.8 km2 clearly demonstrates the continuity and predictability of this extensive mineralization system, which remains open in all directions and offers excellent potential for additional discoveries and expansions.
• An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/b10a6744-9a1a-4bf3-a03d-b45d3f26f954
• 100% of the 243 widely spaced drill holes drilled on Surebet intersected the targeted mineralized zones in 300 intersections, of which 106 intersected visible gold, including the 64 holes drilled in 2024 that intersected significant mineralization, with 92% of the holes (or 59 out of 64 holes) containing visible gold, demonstrating the excellent continuity and predictability of this extensive high-grade world-class gold discovery that remains wide open.
• Metallurgical tests have shown exceptional gold recovery of 92.2% through gravity and flotation, requiring only 327-micron crushing, with 48.8% occurring as free gold; no cyanide is required for gold recovery.
• The compilation, interpretation, and modeling of results from an additional 83 drill holes is currently underway and will be announced shortly: 45 drill holes in 2024 (38 or 84% showing visible or abundant visible gold), 12 drill holes in the Reduced Intrusive Dykes 2021-2023 (5 or 42% showing visible or abundant visible gold), 14 newly drilled shoulders 2021 – 2023 (3 or 21% showing visible or abundant visible gold) and 12 from the VMS-like mineralization at Treasure Island 40 km north of Surebet.

TORONTO, Feb. 10, 2025 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report exceptional gold intersections of 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, as well as a second separate intersection of 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 from a high-grade intrusive gold feeder dike that remains open at Surebet on the 100% controlled Golddigger Property (the “Property”) in Golden Triangle, B.C. Additionally, initial assays compiled/modeled for five more drill holes from the successful 2024 drill program yielded excellent gold grades up to 11.66 g/t AuEq (11.13 g/t Au and 17.82 g/t Ag) over 5.97 meters in the shear-hosted veins at Surebet, clearly demonstrating mineable widths and grades as well as exceptional continuity and predictability of this large, expanding world-class gold discovery that remains widely open both laterally and to depth with tremendous untapped discovery potential.

The compilation, interpretation, and modeling of results from an additional 83 drill holes is currently underway and will be announced shortly: 45 drill holes in 2024 (38 or 84% showing visible or abundant visible gold), 12 drill holes in the Reduced Intrusive Dykes 2021-2023 (5 or 42% showing visible or abundant visible gold), 14 newly drilled shoulders 2021 – 2023 (3 or 21% showing visible or abundant visible gold) and 12 from the VMS-like mineralization at Treasure Island 40 km north of Surebet.

GD-22-58 intersected two separate intervals with exceptional gold grades over significant widths within a reduced, intrusion-related porphyritic, intermediate feeder dyke that remains open and contains visible gold, bismuth, and molybdenum mineralization reminiscent of an RIRG system at depth:

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.

Roger Rosmus, Founder and CEO of Goliath Resources, states: “We are excited about the high-grade gold mineralization in the RIRG feeder dykes as well as the consistent continuity and predictability of the high-grade gold mineralization in multiple stacked veins, similar to the high-grade underground Pogo Gold Mine (world-class >10 Moz). Based on a 100% hit rate in 243 widely spaced drill holes with 300 intersections drilled to date within the 1.8 km2 area of Surebet, we look forward to entering a low-risk expansion and infill drilling phase in 2025. We are excited to report additional assay results from the remaining 83 drill holes before the end of the month once they have been compiled, interpreted, and modeled with a planned updated model confirming the extent and geometry of this world-class gold discovery that remains widely open. Based on the extensive dataset and understanding, we are certainly on track to expand this bonanza discovery both laterally and to depth to find the existing and new high-grade layers and ultimately the source of the extensive gold system. The serious interest already expressed by multiple mining companies and institutions clearly demonstrates that a world-class discovery like Surebet represents an extremely rare opportunity. We look forward to unlocking the full value for all our stakeholders.”

The gold-bearing RIRG mineralization in multiple mineralized porphyritic dykes was previously intersected in drill holes GD-24-237, which yielded 10.50 g/t AuEq (10.41 g/t Au and 7.15 g/t Ag) over 7.00 meters, GD-23-180, which intersected 3.46 g/t AuEq (3.43 g/t Au and 2.68 g/t Ag) over 7.00 meters, and GD-23-226, which intersected 1.85 g/t AuEq (1.85 g/t Au and 0.00 g/t Ag) over 8 meters (reported on December 12, 2024).

Strong mineralization was confirmed in 243 drill holes with 300 intersections cutting through the 8 known stacked mineralized gold veins as well as the reduced intrusion feeder dykes within the 1.8 km² area and to a depth of over 1.2 km, remaining open laterally and at depth, clearly demonstrating the exceptional continuity of widths and grades at Surebet. Continued confirmation of high gold grades in this newly discovered RIRG system, characterized by significant amounts of visible gold, bismuth, and molybdenum mineralization in the felsic to intermediate porphyry dykes at Surebet as well as in the intrusions surrounding Surebet, could significantly increase the resource potential of the Surebet discovery.

Drilling in 2025 will focus on expanding the mineralization in all directions, including depth targeting of the reduced intrusion indicated as the source for the extensive high-grade gold mineralization at the world-class Surebet discovery.

After only 15 months on site, the strong mineralization observed in 100% of all 243 drill holes with 300 intersections over an area of 1.8 km² clearly demonstrates the continuity and predictability of this extensive mineralization system, which remains open in all directions and offers excellent potential for additional discoveries and expansions. All 64 drill holes drilled in 2024 have intersected significant mineralization, with 92% of the holes (or 59 out of 64 holes) containing occurrences of visible gold, proving the excellent continuity of this extensive high-grade gold system that remains open in all directions.

GD-24-250 intersected multiple stacked intervals of strong gold mineralization consisting of quartz-sulphide veins and breccias with visible gold, sphalerite, and galena from the Whopper vein, Surebet Zone, and Bonanza Shear, which remain open:

Whopper Vein: 6.55 g/t AuEq (6.45 g/t Au and 4.08 g/t Ag) over 6.69 meters, including 9.48 g/t AuEq (9.34 g/t Au and 5.33 g/t Ag) over 4.61 meters.
Surebet Zone: 4.49 g/t AuEq (3.88 g/t Au and 14.44 g/t Ag) over 4.90 meters, including 5.48 g/t AuEq (4.72 g/t Au and 29.92 g/t Ag) over 3.75 meters.
Bonanza Shear: 11.66 g/t AuEq (11.13 g/t Au and 17.82 g/t Ag) over 5.97 meters, including 17.48 g/t AuEq (16.71 g/t Au and 26.24 g/t Ag) over 3.97 meters.

GD-24-291 intersected substantial gold mineralization consisting of stacked quartz-sulphide veins and breccia intervals with visible gold, galena, sphalerite, and minor chalcopyrite in multiple intervals corresponding to the Bonanza Shear and Golden Gate Zone, which remain open:

Bonanza Shear: 6.14 g/t AuEq (6.10 g/t Au and 1.50 g/t Ag) over 5.00 meters, including 16.15 g/t AuEq (16.12 g/t Au and 1.24 g/t Ag) over 1.00 meter.
Bonanza Shear: 2.86 g/t AuEq (2.74 g/t Au and 5.37 g/t Ag) over 6.00 meters, including 8.35 g/t AuEq (8.23 g/t Au and 6.34 g/t Ag) over 1 meter.
Golden Gate: 6.32 g/t AuEq (6.29 g/t Au and 1.51 g/t Ag) over 6.00 meters, including 9.45 g/t AuEq (9.41 g/t Au and 2.07 g/t Ag) over 4.00 meters.

GD-24-263 intersected 3 stacked gold mineralized zones with quartz-sulphide vein stockwork and breccias with intervals of semi-massive to massive sphalerite and galena as well as visible gold in an interval corresponding to the Bonanza Shear and remaining open:

New stacked gold vein: 2.06 g/t AuEq (1.92 g/t Au and 4.01 g/t Ag) over 6.17 meters, including 2.43 g/t AuEq (2.27 g/t Au and 4.57 g/t Ag) over 5.13 meters.
New stacked gold vein: 2.08 g/t AuEq (1.93 g/t Au and 5.76 g/t Ag) over 10.32 meters, including 2.24 g/t AuEq (2.06 g/t Au and 6.78 g/t Ag) over 5.19 meters.
Bonanza Shear: 8.56 g/t AuEq (8.37 g/t Au and 12.71 g/t Ag) over 6.00 meters, including 10.27 g/t AuEq (10.05 g/t Au and 15.25 g/t Ag) over 5.00 meters, including 12.84 g/t AuEq (12.56 g/t Au and 19.02 g/t Ag) over 4.00 meters.

GD-24-290 intersected exceptional intervals with stacked quartz-sulfide gold veins and breccias in 4 mineralized horizons containing pyrrhotite, sphalerite, and galena, the deepest of which corresponds to the Bonanza Shear that remains open:

New stacked gold vein: 7.96 g/t AuEq (7.88 g/t Au and 5.52 g/t Ag) over 4.85 meters, including 13.49 g/t AuEq (13.38 g/t Au and 8.87 g/t Ag) over 2.85 meters.
New stacked gold vein: 3.42 g/t AuEq (3.40 g/t Au and 1.44 g/t Ag) over 5.00 meters, including 8.41 g/t AuEq (8.38 g/t Au and 2.88 g/t Ag) over 2.00 meters.
New stacked gold vein: 4.50 g/t AuEq (4.49 g/t Au and 0.84 g/t Ag) over 5.15 meters.
Bonanza Shear: 4.24 g/t AuEq (4.18 g/t Au and 2.71 g/t Ag) over 4.98 meters.
GD-24-241 intersected an excellent interval of quartz-sulfide veins containing visible gold, sphalerite, and galena corresponding to the Bonanza Shear that remains open:
Bonanza Shear: 3.00 g/t AuEq (2.72 g/t Au and 7.67 g/t Ag) over 15.00 meters, including 3.65 g/t AuEq (3.27 g/t Au and 10.20 g/t Ag) over 11.00 meters, including 4.22 g/t AuEq (3.83 g/t Au and 11.46 g/t Ag) over 8.00 meters.

Table 1: Highlights of drill holes in this press release.

The continuity and predictability of the newly expanded thick Bonanza High Grade Gold Zone was previously tested by drilling, where GD-23-197 yielded 34.03 g/t AuEq (1.09 oz/t AuEq) over 9 meters (released October 17, 2023), GD-24-235 yielded 35.04 g/t AuEq (1.13 oz/t AuEq) over 5.25 meters (released July 30, 2024), GD-24-249 yielded 30.55 g/t AuEq (0.98 oz/t AuEq) over 8.95 meters (released December 12, 2024), and GD-24-260 yielded 132.93 g/t AuEq (4.27 oz/t AuEq) over 10.00 meters (released January 13, 2025). The new Bonanza High Grade Zone outcrops at the surface 200 meters above the valley floor at an elevation of 900 meters above sea level.

The Bonanza High Grade Gold Zone remains open in all directions, including at depth where the new Deep Zone was discovered 1,239 meters below the Bang On Pad and 480 meters below the valley floor. This zone contains multiple quartz-sulfide veins and breccias with chalcopyrite, galena, and sphalerite, demonstrating the enormous additional undiscovered potential of the Surebet system, which remains widely open. The mineralized zones contain substantial amounts of chalcopyrite, galena, and sphalerite and remain widely open. Results from all drill holes that intersected the new Deep Zone are still pending.

The company looks forward to further expanding the mineralization at Surebet and improving the understanding of the geometry and control of mineralization through additional modeling as results become available in the near future. The discovery of RIRG mineralization clearly indicates proximity to the source of this extensive mineralization system. Drilling in 2025 will focus on expanding the mineralization in all directions, including at depth towards the indicated source for the fluids responsible for the extensive high-grade gold-silver mineralization on the world-class Surebet discovery.

Table 2: Information on drill holes reported in this press release.

Golddigger Property

The Golddigger property is 100% controlled and covers an area of 91,518 hectares in the world-class geological environment 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 largest 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 Shaft Creek. Goliath controls 56 kilometers of the Red Line, a geological contact between Triassic Stuhini and Jurassic Hazelton rocks, which serves as an important marker in the exploration of gold-copper-silver mineralization.

The Surebet discovery shows exceptional continuity and excellent metallurgy with 92.2% gold recovery, of which 48.8% is recovered as free gold by gravity alone at a 327-micron crush (no cyanide required for gold recovery). Metallurgy conducted to date shows NO harmful elements such as mercury or arsenic are present.

The property is located in an excellent location in close proximity to the communities of Alice Arm and Kitsault, where there is a permitted mill on private property. It is situated on tidewater with direct access to Prince Rupert (190 km via Observatory Inlet/Portland Inlet). The town of Kitsault is accessible by road (190 km from Terrace, 300 km from Prince Rupert) and has a barge landing, dock, and infrastructure to accommodate at least 300 people, including high-voltage power.

Other infrastructure in this area includes the Dolly Varden Silver Mine Road (just 7 km east of the Surebet discovery) with direct access to the Alice Arm shipping dock (18 km south of the Surebet discovery) and the high-voltage power line (25 km east of the Surebet discovery). The town of Terrace (16,000 inhabitants) provides access to rail, major highways, and an airport with supplies (food, fuel, lumber, etc.), while the city of Prince Rupert (12,000 inhabitants) is located on the west coast and hosts an international container port, also with direct access to rail 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 collaboration between the Colorado School of Mines and Virginia Tech, aiming to change the way geoscience data is used in the raw materials industry. The research focuses on integrating various geoscience data to improve decision-making throughout the entire lifecycle of a mine, from underground resource exploration through mine operations to closure and environmental remediation. As a CASERM member, the company commissioned a study and written report from the Colorado School of Mines to analyze the origin of mineralization at Surebet. The study confirmed an extensive porphyry source at depth for the high-grade gold mineralization fluids at Surebet.

Qualified Person

Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101 for Goliath Resource Limited’s projects and supervised the preparation of the technical information in this press release and has reviewed and approved it. Mr. Turna is also a director of the company.

About Goliath Resources Limited

Goliath Resources is a precious metals project exploration company in the prolific Golden Triangle in northwestern British Columbia. All of the company’s projects are located in geologically first-class areas and geopolitically secure jurisdictions suitable for mining in Canada. Goliath is a member and active supporter of CASERM, an organization that represents a collaboration between the Colorado School of Mines and Virginia Tech. Goliath’s key strategic cornerstones include Crescat Capital, Rob McEwen and Eric Sprott, Larry Childress, and a Singapore-based Global Commodity Group.

For further 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 advised that grab samples are spot samples that 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.

Portable XRF (X-ray fluorescence) measurements are semi-quantitative measurements, and on-site calibration of the devices does not always allow for comparison of results with certified reference materials, but serves as a guide to deepen the understanding of the observed mineralization. These measurements are not intended to be representative of the geochemical composition of the measured material. XRF measurements are taken with a handheld device and can be influenced by external factors.

The oriented diamond drill core with HQ or NQ diameter from the drilling campaign is placed in core boxes by the drilling crew commissioned by the company. The core boxes are transported by helicopter to the staging area and then by truck to the core shed. The core is then realigned, the meter blocks are checked, the meter marks are labeled, recovery and RQD measurements are taken, and primary bedding and secondary structural features, including veins, dikes, joints, and shears, are noted and measured. The core is then described and transcribed in MX Deposit TM. The drill holes were planned using Leapfrog Geo TM and QGIS TM software along with data from the 2017-2022 exploration campaigns. Drill cores containing quartz breccias, stockwork, veins and/or sulfide(s) or notable alterations are sampled in lengths of 0.5 to 1.5 meters. The core samples are cut lengthwise into two halves, with one half remaining in the box and the other half placed in a clean plastic bag with a sample label. Standard samples, blanks, and duplicates were inserted into the sample stream at a rate of 10%.

Prospecting, channel, chip, and talus samples were collected on foot and by helicopter. Prospective areas included proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The grab and chip rock samples were collected using a rock hammer or hammer and chisel to expose fresh surfaces and collect a sample of 0.5 to 5.0 kilograms. All sampling locations were marked with biodegradable flagging tape and labeled with the sample number. All sampling locations were recorded with handheld GPS devices (accuracy 3-10 meters), and the sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.), and a description of the rock were noted on all-weather paper. The samples were then packed in a clean plastic bag with a sample label for transport and shipping to the geochemical laboratory. QA/QC samples, including blanks, standard samples, and duplicates, were regularly inserted into the sample sequence at a rate of 10%.

All samples are transported in rice bags sealed with numbered security tags. A transport company brings them from the core shed to Paragon Geochemical’s laboratory facilities in Surrey, BC, or to ALS laboratory facilities in North Vancouver, BC. Paragon Geochemical is certified to both AC89-IAS and ISO/IEC Standard 17025:2017. Samples submitted to Paragon undergo gold and silver analysis by photon assay, with the entire sample crushed to approximately 70% passing through a 2 mm screen. The entire crushed sample is riffle split and weighed into multiple jars (300-500 g) submitted for photon assay. Photon assay excites atomic nuclei in the sample jars with high-energy X-rays (photons), causing secondary gamma rays to be released, which are measured to identify and quantify the metals present. The results from all sample jars are combined on a weight-averaged basis. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 at all locations. At ALS, samples were prepared for analysis using ME-MS61 and Au-SCR21 methods, dried, crushed, and pulverized. The ME-MS61 method digests a prepared sample 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 ME-OG62 and Ag-GRA21 (gravimetric finish) methods. For the Au-SCR21 method, a large sample size is required (typically 1-3 kg). The sample is crushed and screened (typically to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analyzed using the standard fire assay procedure. The fine fraction is assumed to be reasonably homogeneous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the component of gold contained in this fraction.

The thickness is reported in drill core lengths, with the true thickness estimated at 80-90% and AuEq metal values calculated using the following values: Au $2,797.16/oz, Ag $31.28/oz, Cu $4.25/lbs, Pb $1,955.58/tonne and Zn $2,750.50/tonne as of January 31, 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 average values for metal prices and included provisions for metallurgical recoveries, treatment costs, refining costs, and transport. Recovery rates for gold were 85.5%, for silver 74.6%, for copper 74.6%, and for lead 45.3%. It is assumed that zinc can be recovered along with copper at the same recovery rate of 74.6%. The cited reference for metallurgical recovery rates is not from Goliath’s Golddigger Project, Surebet Zone Mineralization, and there is no guarantee that such recovery rates will ever be achieved unless detailed metallurgical work, as in a feasibility study, can eventually be 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 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.

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The securities mentioned herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any state and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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