| Drill Highlights From 2024 Drilling Season: |
| ▪ 100% of the first 8 holes drilled to date during the 2024 drill season have intercepted continuous strong mineralization in the targeted veins. Including mineralization that suggests the drilling has tapped into the heat engine source of the gold mineralizing system at the Surebet Discovery. ▪ 100% of the first 8 holes drilled to date during the 2024 drill season have intercepted continuous strong mineralization in the targeted veins. Including mineralization that suggests the drilling has tapped into the heat engine source of the gold mineralizing system at the Surebet Discovery. |
| ▪ Abundant Visible Gold up to 1.30 mm in size has been identified in multiple intervals in 6 out of the first 8 holes of 2024, corresponding to 75% of the holes drilled thus far. The majority being hosted further downhole within the volcanics, and gold mineralization remains open in all directions. ▪ Abundant Visible Gold up to 1.30 mm in size has been identified in multiple intervals in 6 out of the first 8 holes of 2024, corresponding to 75% of the holes drilled thus far. The majority being hosted further downhole within the volcanics, and gold mineralization remains open in all directions. |
| ▪ Mineralization consists of abundant visible gold, galena, sphalerite, chalcopyrite, and other sulphides hosted in breccia, stockwork and/or veins. This system remains wide open for further discoveries. ▪ Mineralization consists of abundant visible gold, galena, sphalerite, chalcopyrite, and other sulphides hosted in breccia, stockwork and/or veins. This system remains wide open for further discoveries. |
| ▪ To date, 10 mineralized veins have been delineated within the Hazelton Sedimentary unit and underlaying Hazelton volcanics, with additional (or continued) mineralization being discovered at downhole depth along trend deeper in the mountain. Promising results from 2024 drilling campaign has intercepted a new zone that could potentially be the top of the heat engine source. ▪ To date, 10 mineralized veins have been delineated within the Hazelton Sedimentary unit and underlaying Hazelton volcanics, with additional (or continued) mineralization being discovered at downhole depth along trend deeper in the mountain. Promising results from 2024 drilling campaign has intercepted a new zone that could potentially be the top of the heat engine source. |
| ▪ An impressive vertical trend of visible gold has been noticed in the drill core. Highest in the gold zones, it is fine grained sporadic visible gold. In the deeper downhole zones, there is a transition to abundant visible gold including coarse grained visible gold. ▪ An impressive vertical trend of visible gold has been noticed in the drill core. Highest in the gold zones, it is fine grained sporadic visible gold. In the deeper downhole zones, there is a transition to abundant visible gold including coarse grained visible gold. |
| ▪ Drill hole GD-24-244 (in progress) intersected visible gold within an interval of strong quartz-sulphide mineralization at 700 meters downhole hosted within the volcanics. This is the deepest downhole occurrence of visible gold and sulphide-mineralization recorded to date on the Surebet Discovery, confirming the tremendous additional discovery potential at depth below the valley floor where the system remains wide open (see image below). ▪ Drill hole GD-24-244 (in progress) intersected visible gold within an interval of strong quartz-sulphide mineralization at 700 meters downhole hosted within the volcanics. This is the deepest downhole occurrence of visible gold and sulphide-mineralization recorded to date on the Surebet Discovery, confirming the tremendous additional discovery potential at depth below the valley floor where the system remains wide open (see image below). Link to GD-24-242 Core Box Video (Click Here) Link to 3D Model Video (Click Here) |
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| ▪ GD-24-242 collared from Golden Gate pad intersected multiple intervals of mineralization consisting of quartz-sulphide veining and stockwork cumulatively adding up to 90.15 meters, within which 4 occurrences of visible gold were identified and remains open. ▪ GD-24-242 collared from Golden Gate pad intersected multiple intervals of mineralization consisting of quartz-sulphide veining and stockwork cumulatively adding up to 90.15 meters, within which 4 occurrences of visible gold were identified and remains open. |
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| ▪ It is important to note that the gold zones start at the top of the mountain where there is an extremely large outcrop with 700 meters of vertical relief. It goes down 1 kilometer on the south slope and 1.1 kilometer down the north slope, then appears to have the potential to extend down to the valley floor and beyond. The gold zones could be easily accessed through a series of portals and underground workings to precisely target the gold zones in a potential mining scenario. ▪ It is important to note that the gold zones start at the top of the mountain where there is an extremely large outcrop with 700 meters of vertical relief. It goes down 1 kilometer on the south slope and 1.1 kilometer down the north slope, then appears to have the potential to extend down to the valley floor and beyond. The gold zones could be easily accessed through a series of portals and underground workings to precisely target the gold zones in a potential mining scenario. |
| ▪ Drilling has barely started to scratch the surface, with excellent potential for additional discovery as we venture deeper down into and past the valley floor. Because of the topography of the Surebet discovery and the majority of drilling being carried out on the slope of the mountain, none of the drill holes completed to date have drilled deeper than the valley floor, where the Surebet system remains open. ▪ Drilling has barely started to scratch the surface, with excellent potential for additional discovery as we venture deeper down into and past the valley floor. Because of the topography of the Surebet discovery and the majority of drilling being carried out on the slope of the mountain, none of the drill holes completed to date have drilled deeper than the valley floor, where the Surebet system remains open. |
| ▪ The increase in coarser visible gold and base metal components observed with depth, indicates stronger mineralization in deeper parts of the system as drilling ventures past the valley floor. This suggests that drilling is closing in on the heat engine responsible for the precious and base metals mineralization observed at Surebet (see image below). ▪ The increase in coarser visible gold and base metal components observed with depth, indicates stronger mineralization in deeper parts of the system as drilling ventures past the valley floor. This suggests that drilling is closing in on the heat engine responsible for the precious and base metals mineralization observed at Surebet (see image below). |
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| ▪ The expanded 2024 drill plan will focus on building continuity on the 10 known mineralized veins, including Surebet, Bonanza, Eldorado and Golden Gate as well as expanding them in all directions, which will allow the Company to better understand the size and grade distribution of this system that remains wide open. ▪ The expanded 2024 drill plan will focus on building continuity on the 10 known mineralized veins, including Surebet, Bonanza, Eldorado and Golden Gate as well as expanding them in all directions, which will allow the Company to better understand the size and grade distribution of this system that remains wide open. |
| ▪ GD-24-235 collared from Golden Gate pad, and previously reported, intercepted abundant visible gold up to 1.30 mm in size and sulphide mineralization in shear zones hosted in both the sedimentary and volcanic units. This hole assayed 15.86 g/t AuEq (15.40 g/t Au and 17.11 g/t Ag) over 11.9 meters ~true width, including 35.04 g/t AuEq (34.16 g/t Au and 34.15 g/t Ag) over 5.24 meters ~true width (updated interval) and corresponds to the Bonanza Shear (444.3 – 452.9 meters downhole): ▪ GD-24-235 collared from Golden Gate pad, and previously reported, intercepted abundant visible gold up to 1.30 mm in size and sulphide mineralization in shear zones hosted in both the sedimentary and volcanic units. This hole assayed 15.86 g/t AuEq (15.40 g/t Au and 17.11 g/t Ag) over 11.9 meters ~true width, including 35.04 g/t AuEq (34.16 g/t Au and 34.15 g/t Ag) over 5.24 meters ~true width (updated interval) and corresponds to the Bonanza Shear (444.3 – 452.9 meters downhole): ◦ Assays are pending on a 24.4 meter intercept of a porphyritic intrusion with abundant visible gold, molybdenite up to 2 mm in size, and bismuth between 529.29 – 553.67 meters downhole interpreted as Mothership Feeder Zone; ◦ The newly discovered mineralized porphyritic intrusion intercepted at depth strongly indicates close proximity to the feeder source responsible for the widespread high-grade mineralization confirmed at Surebet; and ◦ Assays are also pending on a 10 meter interval between 550 and 650 meters downhole that is hosted within the andesite with abundant visible gold, up to 30 % pyrrhotite, 3 % chalcopyrite, 1 % sphalerite, and 1 % pyrite interpreted as the Golden Gate Zone. |
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| ▪ GD-24-236 collared from Go-For-Gold pad, as previously reported, intercepted high-grade gold mineralization containing 4.14 g/t AuEq (3.02 g/t Au and 63.55 g/t Ag) over 6.0 meters, including 6.79 g/t AuEq (4.96 g/t Au and 78.03 g/t Ag) over 3.04 meters interpreted to correspond with the Surebet Upper Zone. ▪ GD-24-236 collared from Go-For-Gold pad, as previously reported, intercepted high-grade gold mineralization containing 4.14 g/t AuEq (3.02 g/t Au and 63.55 g/t Ag) over 6.0 meters, including 6.79 g/t AuEq (4.96 g/t Au and 78.03 g/t Ag) over 3.04 meters interpreted to correspond with the Surebet Upper Zone. |
| ▪ GD-24-242 collared from Golden Gate pad intersected multiple intervals of mineralization consisting of quartz-sulphide veining and stockwork cumulatively adding up to 90.15 meters, within which 4 occurrences of visible gold were identified. Within the sedimentary rocks a high-density vein interval was identified between 190.00 and 498.15 meters, including 47.07 meters of quartz-sulphide stockwork containing pyrrhotite, chalcopyrite and sphalerite from 190.00 meters to 237.07 meters, and 21.02 meters of high-density quartz veining containing pyrrhotite, chalcopyrite and sphalerite from 474.50 meters to 495.52 meters. The Bonanza Shear was intercepted at the contact between sedimentary and volcanic rocks from 583.70 meters to 585.49 meters and is characterized by semi-massive to massive pyrrhotite (up to 50 %), sphalerite (up to 8%) and galena (up to 3%). ▪ GD-24-242 collared from Golden Gate pad intersected multiple intervals of mineralization consisting of quartz-sulphide veining and stockwork cumulatively adding up to 90.15 meters, within which 4 occurrences of visible gold were identified. Within the sedimentary rocks a high-density vein interval was identified between 190.00 and 498.15 meters, including 47.07 meters of quartz-sulphide stockwork containing pyrrhotite, chalcopyrite and sphalerite from 190.00 meters to 237.07 meters, and 21.02 meters of high-density quartz veining containing pyrrhotite, chalcopyrite and sphalerite from 474.50 meters to 495.52 meters. The Bonanza Shear was intercepted at the contact between sedimentary and volcanic rocks from 583.70 meters to 585.49 meters and is characterized by semi-massive to massive pyrrhotite (up to 50 %), sphalerite (up to 8%) and galena (up to 3%). |
| ▪ GD-24-242 has the longest intercept of consistent and widespread quartz-sulphide mineralization of the holes completed so far in 2024 (assays pending). ▪ GD-24-242 has the longest intercept of consistent and widespread quartz-sulphide mineralization of the holes completed so far in 2024 (assays pending). |
| ▪ GD-24-240 collared from Goldsmith pad intercepted multiple quartz-sulphide veins and stockwork sections including visible gold hosted in the sedimentary rocks between 204.20 meters and 379.47 meters, which includes a 9.68 meter interval corresponding to the Bonanza Shear from 369.80 meters to 379.47 meters characterized by semi-massive sphalerite, chalcopyrite and pyrrhotite (assays pending). ▪ GD-24-240 collared from Goldsmith pad intercepted multiple quartz-sulphide veins and stockwork sections including visible gold hosted in the sedimentary rocks between 204.20 meters and 379.47 meters, which includes a 9.68 meter interval corresponding to the Bonanza Shear from 369.80 meters to 379.47 meters characterized by semi-massive sphalerite, chalcopyrite and pyrrhotite (assays pending). |
| ▪ GD-24-241 collared from Golden Gate pad intercepted an extensive 51.33 meter interval consisting of sheared quartz-stockwork with high density of veins containing chalcopyrite (up to 1%), pyrrhotite (up to 1%) and pyrite (up to 1%) from 442.71 meters to 494.04 meters. Visible gold was intercepted in 3 separate veins hosted in the volcanic rocks between 553.72 meters and 568.89 meters (assays pending). ▪ GD-24-241 collared from Golden Gate pad intercepted an extensive 51.33 meter interval consisting of sheared quartz-stockwork with high density of veins containing chalcopyrite (up to 1%), pyrrhotite (up to 1%) and pyrite (up to 1%) from 442.71 meters to 494.04 meters. Visible gold was intercepted in 3 separate veins hosted in the volcanic rocks between 553.72 meters and 568.89 meters (assays pending). |
| ▪ GD-24-238 collared from Go-for-Gold pad intersected 2.59 meter interval of quartz-sulphide breccia and stockwork containing up to 5% pyrite, 1% galena, 1% chalcopyrite and minor sphalerite from 281.07 meters to 283.66 meters hosted within a 12.13 meter section of sedimentary rocks characterized by pervasive quartz-sulphide veining from 274.78 meters to 286.91 meters (assays pending). ▪ GD-24-238 collared from Go-for-Gold pad intersected 2.59 meter interval of quartz-sulphide breccia and stockwork containing up to 5% pyrite, 1% galena, 1% chalcopyrite and minor sphalerite from 281.07 meters to 283.66 meters hosted within a 12.13 meter section of sedimentary rocks characterized by pervasive quartz-sulphide veining from 274.78 meters to 286.91 meters (assays pending). |
| ▪ GD-24-237 collared from Golden Gate pad intercepted 1.61 meter interval of quartz-sulphide stockwork and veining at the contact between sedimentary and volcanic rocks corresponding to the Bonanza Shear from 449.69 meters to 451.30 meters with pyrite (up to 1%), minor galena, sphalerite and pyrrhotite. The sedimentary rocks above this interval contain significant quartz veining with trace sulphide from 425.00 meters to 449.69 meters. A second interval of quartz-sulphide veining containing visible gold is 0.75 meters long and was identified from 569.29 meters to 570.04 meters and is hosted in volcanic rocks containing veinlets of pyrrhotite and pyrite throughout from 451.30 meters to 833.73 meters (assays pending). ▪ GD-24-237 collared from Golden Gate pad intercepted 1.61 meter interval of quartz-sulphide stockwork and veining at the contact between sedimentary and volcanic rocks corresponding to the Bonanza Shear from 449.69 meters to 451.30 meters with pyrite (up to 1%), minor galena, sphalerite and pyrrhotite. The sedimentary rocks above this interval contain significant quartz veining with trace sulphide from 425.00 meters to 449.69 meters. A second interval of quartz-sulphide veining containing visible gold is 0.75 meters long and was identified from 569.29 meters to 570.04 meters and is hosted in volcanic rocks containing veinlets of pyrrhotite and pyrite throughout from 451.30 meters to 833.73 meters (assays pending). |
| Surebet Highlights: |
| ▪ Exceptional continuity of the gold mineralization that is predictable with our geological team has a strong understanding of the system. The gold mineralization has excellent metallurgical recoveries of 92.2% Gold from gravity and flotation, including 48.8% free gold from gravity alone at a 327 micron crush; no deleterious minerals or cyanide required. ▪ Exceptional continuity of the gold mineralization that is predictable with our geological team has a strong understanding of the system. The gold mineralization has excellent metallurgical recoveries of 92.2% Gold from gravity and flotation, including 48.8% free gold from gravity alone at a 327 micron crush; no deleterious minerals or cyanide required. |
| ▪ Located in a mining friendly jurisdiction within a world class geological setting of the Golden Triangle, B.C. ▪ Located in a mining friendly jurisdiction within a world class geological setting of the Golden Triangle, B.C. |
| ▪ Next door to the old Kitsault Mine, a permitted brownfield mine site that is located on the BC Hydro grid with road access to the Nass Valley and tidewater access to Prince Rupert. ▪ Next door to the old Kitsault Mine, a permitted brownfield mine site that is located on the BC Hydro grid with road access to the Nass Valley and tidewater access to Prince Rupert. |
| ▪ The Golddigger property is fully permitted until 2029 for 199 drill pads. ▪ The Golddigger property is fully permitted until 2029 for 199 drill pads. |
| ▪ 66,930 meters have been drilled to date at the Golddigger property (2021 – 2023). ▪ 66,930 meters have been drilled to date at the Golddigger property (2021 – 2023). |
| ▪ 44 holes (or 35%) of 124 holes drilled in 2023 contained Visible Gold with nuggets up to 11 mm in size. ▪ 44 holes (or 35%) of 124 holes drilled in 2023 contained Visible Gold with nuggets up to 11 mm in size. |
| ▪ Best hole drilled to date is GD-23-180 assaying 65.00 g/t AuEq (64.88 g/t Au and 8.03 g/t Ag) over 7.90 meters, including 86.99 g/t AuEq (86.84 g/t Au and 6.52 g/t Ag) over 5.90 meters. ▪ Best hole drilled to date is GD-23-180 assaying 65.00 g/t AuEq (64.88 g/t Au and 8.03 g/t Ag) over 7.90 meters, including 86.99 g/t AuEq (86.84 g/t Au and 6.52 g/t Ag) over 5.90 meters. |
| ▪ Mineralization can be seen at surface for 1.0 kilometers of strike and 1.1 kilometers down-dip extent appears to continue below the valley floor with 700 meters of vertical relief that has exceptional continuity. ▪ Mineralization can be seen at surface for 1.0 kilometers of strike and 1.1 kilometers down-dip extent appears to continue below the valley floor with 700 meters of vertical relief that has exceptional continuity. |
| ▪ 10 gold mineralized vein horizons have been identified to date and remain open. ▪ 10 gold mineralized vein horizons have been identified to date and remain open. |
| ▪ The mineralized footprint of the Surebet discovery corresponds to 1.8 km2, the equivalent in size to >336 NFL football fields. ▪ The mineralized footprint of the Surebet discovery corresponds to 1.8 km2, the equivalent in size to >336 NFL football fields. |
| Toronto, Ontario – August 6, 2024 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is very pleased to report the discovery of strong sulphide mineralization in quartz breccia, stockwork and veining in 100% of the first 8 holes to date during the 2024 drill season with 6 (75%) containing abundant visible gold at its 100% controlled Golddigger Property (the “Property”), Golden Triangle, B.C. Drill hole GD-24-244 (in progress) intersected visible gold within an interval of strong quartz-sulphide mineralization at 700 meters downhole hosted within the volcanics. This is the deepest downhole occurrence of visible gold and sulphide-mineralization recorded to date on the Surebet Discovery, confirming the tremendous additional discovery potential at depth below the valley floor where the system remains wide open. This increases the Company’s confidence in the proximity of the feeder source of the Surebet system. |
| About Goliath Resources Limited Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and Abitibi Greenstone Belt of Quebec. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization 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. |
