Goliath Mobilizes For Its Largest Drill Program Of 40,000 Meters With 9 Rigs On The Extensive Surebet High-Grade Gold Discovery That Remains Wide Open Golddigger Property, Golden Triangle, B.C. Goliath is embarking on its largest drill program to date that is 100% focused on the extensive Surebet hi
1
Goliath Mobilizes For Its Largest Drill Program Of 40,000 Meters With 9 Rigs On The
Extensive Surebet High-Grade Gold Discovery That Remains Wide Open
Golddigger Property, Golden Triangle, B.C.
Goliath is embarking on its largest drill program to date that is 100% focused on the extensive Surebet high-
grade gold discovery totaling 40,000 meters with 9 rigs based on the positive results from the 2024 drill
season which has greatly improved the understanding of this large mineralized system that remains open for
expansion in all directions.
The 2025 planned drill campaign is systematic drilling designed to outline in detail the full geometry and
extent of this discovery laterally and to depth.
2
100% of the drilling will be focused on the Surebet Discovery, where the Company has designed a detailed
drill plan that will consist of:
o Testing for the Motherlode Causative Intrusive Gold Source;
o Testing an additional 13 potential Eocene intrusive granitoid dykes observed on surface that have
never been drill tested for mineralization;
o Infill drilling with the goal of increasing pierce points density in all known stacked veins with a
particular focus on the highest-grade areas from the Bonanza Zone and Surebet Zone intersection
domain; and
o Expanding the known mineralized veins laterally and to depth where they currently remain open.
3
Relogging core will take place early on in the 2025 exploration program that includes 50 holes that have
intersected Eocene intrusive granitoid dykes previously drilled during 2021 – 2024 totaling 2,062 meters in
aggregate which may also be sent in for assaying. In 2024, 13 holes were relogged from the same series of
Eocene intrusive granitoid dykes that had visible gold (seen with the naked eye) in 6 of the holes and assayed
up to 12.03 g/t AuEq over 10 meters (~true width) previously reported.
Surebet Discovery Highlights
59 out of 64 holes (or 92%) drilled in 2024 contained Visible Gold; all visible to the naked eye and without the
need for a hand-lens or microscope that all assayed for high-grade gold including the largest piece drilled to
date being 11.5 mm (7/16 inches).
The best hole drilled to date in the shear zones is GD-24-260 previously reported from the Bonanza Zone
assayed 34.52 g/t AuEq (34.47 Au and 3.96 Ag) over 39.00 meters (~true width), including 132.93 g/t AuEq
(132.78 Au and 12.98 Ag) over 10.00 meters, and 166.04 g/t AuEq (165.84 Au and 16.07 Ag) over 8.00 meters.
4
The best hole drilled to date in the Eocene intrusive granitoid feeder dykes is from GD-22-58 previously
reported has two separate mineralized intervals within the dyke assaying up to 12.03 g/t AuEq (11.84 g/t Au
and 15.61 g/t Ag) over 10.00 (~true width).
Four new mineralized shear zones were identified in 2024 significantly increasing the potential tonnage of the
system that remains open. A total of 12 vertically stacked gold-mineralized veins (shear zones) extending
vertically for 1.2 kilometers have been discovered and modelled to date.
The footprint of the mineralization discovered to date at Surebet is 1.8 km2, the equivalent in size to >336 NFL
football fields, and remains open in all directions.
Thanks to the mountainous topography, mineralization in the veins is exposed on surface for 2.1 km of strike
(1.0 km on the south slope and 1.1 km on the north slope) with a vertical relief of 700 meters.
A detailed study recently completed by the Colorado School of Mines confirms a new interpretation of the ore
forming process of high-grade gold mineralization at Surebet and outlines a common causative Reduced
Intrusion Related Gold source with tremendous untapped discovery potential to increase economical tonnage
in the Eocene aged rocks never documented before.
Goliath has drilled a total of 92,000 meters to date with over 400 pierce points on the Golddigger property
between 2021 and 2024, which culminated in the updated geologic model used for this year’s drill planning.
The Surebet Discovery has predictable continuity and exceptional excellent metallurgy with gold recoveries
from gravity and flotation at a 327-micrometer crush of 92.2% including 48.8% free gold from gravity alone
(no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements
are present such as mercury or arsenic.
Based on positive grassroots exploration and drill results in recent years, Goliath significantly increased its
land package from 66,608 hectares to 91,518 hectares (226,146 acres) and now controls 56 kilometers of key
terrain of the Red Line geologic trend providing for additional upside discovery potential.
The Golddigger Property is located on tidewater with barge route to Prince Rupert (190 km south) and close
to infrastructure including the town of Kitsault adjacent to a permitted mine site on private property.
Toronto, Ontario – May 28, 2025 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company”
or “Goliath”) is pleased to report that it has mobilized for its largest drill campaign to date entirely focused on the Surebet
high-grade gold discovery based on the positive results from the 2024 season at its 100% controlled Golddigger Property
(the “Property”), Golden Triangle, British Columbia. The 2025 planned drill program will include 40,000 meters of
systematic drilling designed to outline in detail the full geometry and extent of this discovery laterally and to depth. Goliath
is armed with much more drilling and geological data with 92,000 meters drilled to date (2021 – 2024) that encompasses
over 400 pierce points which has greatly improved our understanding of the exceptional Surebet discovery mineralized
system that remains open for expansion in all directions
100% of the drilling this year will be focused on the Surebet discovery, where the Company has designed a detailed drill
plan that will consist of testing for the Motherlode causative intrusion gold source, testing an additional 13 potential
feeder dykes observed on surface that have never been drill tested for mineralization, i nfill drilling with the goal of
increasing the pierce points density in all known veins with a particular focus on the highest-grade areas from the Bonanza
5
Zone and Surebet Zone intersection domain , as well as e xpanding the known mineralized veins laterally and to depth
where they currently remain open.
Mr. Roger Rosmus, Founder & CEO of Goliath states: “With an extremely robust balance sheet in hand, we have mobilized
for our largest drill campaign to date totaling 40,000 meters with 9 rigs that is entirely focused on our exceptional Surebet
high-grade gold system discovery located within our 100% controlled Golddigger Property. In preparation for this years
drill program, we have completed an updated model of our vertically stacked gently dipping vein system, and series of near
vertical dykes intersecting the veins that will help us target the higher grade lodes for expansion. A key study done at the
Colorado School of Mines was to assess the contacts of the veins and dykes found that there are two temperature regimes
responsible for the gold mineralization, suggesting that there was most likely a primary and secondary gold enrichment
where the veins and dykes crosscut. In the past, we did not pay close attention to the dykes because they were known to
be of Eocene age, which was not considered by explorers in the Golden Triangle to be important for gold mineralization.
As we have now hit high-grade gold in 4 Eocene dykes thus far, it is a huge new breakthrough for the Surebet discovery
and for others exploring in the Golden Triangle. We have been delighted with the interest from other companies in the
region about the potential for gold mineralization in the Eocene aged dykes as we have now changed the historical
narrative. Another important finding in the work done at the Colorado School of Mines was age dating of the veins, dykes
and Hyder Pluton to the west are all very close in the time of their emplacement with the potential for a common source
being a magmatic intrusion close by. We will be able to also use the modeling work of the veins and dykes to help us vector
into the source of the gold mineralizing system. Our first order of business upon our geological team arriving in Kitsault, is
to relog core from 50 drill holes from 2021 - 2024 totaling 2,062 meters that intersected our Eocene dykes, then prepare
them to be sent for assaying as well as start building drill pads. Shortly afterward, we will be ready to hit the ground running
with getting drill rigs on the mountain turning. Our 2024 drill campaign was our most successful to date, and this season
we are armed with much more drilling and geological data than ever before. We feel that 2025 will be even more successful
than the previous year. We look forward to updating shareholders on drilling progress throughout the season and provide
drilling assay results as they are received, compiled, and interpreted.”
About Golddigger Property
The Golddigger Property is 100% controlled and covers an area of 91,518 hectares in the world class geological setting of
the Eskay Rift, within 3 kilometers of the Red Line in the Golden Triangle of British Columbia. This area has hosted some
of Canada’s greatest mines including Eskay Creek, Premier and Snip. Other significant and well-known deposits in the
Golden Triangle include Brucejack, Copper Canyon, Galore Creek, Granduc, KSM, Red Chris, and Schaft Creek. Goliath
controls 56 kilometers of the Red Line which is a geologic contact between Triassic age Stuhini rocks and Jurassic age
Hazelton rocks used as key markers when exploring for gold-copper-silver mineralization.
The Surebet discovery has predictable continuity and exceptional excellent metallurgy with gold recoveries from gravity
and flotation at a 327 -micrometer crush of 92.2% including 48.8% free gold from gravity alone (no cyanide required to
recover the gold). The metallurgy completed to date shows no deleterious elements are present such as mercury or
arsenic.
The Property is in an excellent location in close proximity to the communities of Alice Arm and Kitsault where there is a
permitted mill site on private property. It is situated on tide water with direct barge access to Prince Rupert (190
kilometers via th e 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)
6
and high-tension power (25 kilometers to the east of Surebet discovery). The city of Terrace (population 16,000) provides
access to railway, major highways, and airport with supplies (food, fuel, lumber, etc.), while the town of Prince Rupert
(population 12,000) is located on the west coast and houses an international container seaport also with direct access to
railway and an airport.
About CASERM (Center to Advance the Science of Exploration to Reclamation in Mining)
Goliath Resources is a paying member and active supporter of the Center to Advance the Science of Exploration to
Reclamation in Mining (CASERM), which is one of the world’s largest research centers in the mining sector. CASERM is a
collaborative research venture between Colorado School of Mines and Virginia Tech that is supported by a consortium of
mining and exploration companies, analytical instrumentation and software companies, and federal agencies aiming to
transform the way geoscience data is acquired and used across the mining value chain. The cen ter forms part of the I -
UCRC program of the National Science Foundation. Research focuses on the integration of diverse geoscience data to
improve decision making across the mine life cycle, beginning with the exploration for subsurface resources continuin g
through mine operation as well as closure and environmental remediation. Over the past three years, Goliath Resources’
membership in CASERM has allowed world-class research to be performed on the Surebet project part of the Golddigger
Property in British Columbia, Canada.
Qualified Person
Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath Resource Limited projects,
and supervised the preparation of, and has reviewed and approved, the technical information in this release.
About Goliath Resources Limited
Goliath Resources is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British
Columbia. All of its projects are in high quality geological settings and geopolitical safe jurisdictions amenable to mining in
Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative
venture between Colorado School of Mines and Virginia Tech. Goliath’s key strategic cornerstone shareholders include
Crescat Capital, McEwen Mining Inc . (NYSE: MUX) (TSX: MUX), Mr. Rob McEwen, a Global Commodity Group based in
Singapore, Mr. Eric Sprott and Mr. Larry Childress.
For more information please contact:
Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1.416.488.2887
www.goliathresourcesltd.com
Disclaimer
The reader is cautioned that grab samples are spot samples which 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.
7
Oriented HQ-diameter or NQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew
contracted by the Company. Core boxes are transported by helicopter to the staging area and then transported by truck
to the core shack. The core is then re -orientated, meterage blocks are checked, meter marks are labelled, Recovery and
RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and
shears are noted and measured. The cor e is then described and transcribed in MX Deposit TM. Drill holes were planned
using Leapfrog Geo TM and QGIS TM software and data from the 2017 -2022 exploration campaigns. Drill core containing
quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.5 meters.
Core samples are cut lengthwise in half, one -half remains in the box and the other half is inserted in a clean plastic bag
with a sample tag. Standards, blanks and duplicates were added in the sample stream at a rate of 10%.
Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but
were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential
gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer,
or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All
sample sites were flagged with biode gradable flagging tape and marked with the sample number. All sample sites were
recorded using hand-held GPS units (accuracy 3 -10 meters) and sample ID, easting, northing, elevation, type of sample
(outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples
were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC
samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence at a rate of
10%.
All samples are transported in rice bags sealed with numbered security tags. A transport company takes them from the
core shack to the Paragon Geochemical labs facilities in Surrey, BC or ALS labs facilities in North Vancouver, BC. Paragon
Geochemical is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. Samples submitted to Paragon received
gold and silver analysis by photon assay whereby the entire sample is crushed to approximately 70% passing 2 mm mesh.
The entire crushed sample is riffle spl it and weighed into multiple (300 -500g) jars that are submitted for photon assay.
Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, causing them to emit
secondary gamma rays, which are measured to identify an d quantify the metals present. The assays from all jars are
combined on a weight-averaged basis. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its
locations. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME -MS61 and Au -
SCR21 methods. For the ME -MS61 method, a prepared sample is digested 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 the ME -OG62 and Ag -GRA21 methods (gravimetric
finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to
-106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are
analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well
represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse
gold.
Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and Gold Equivalent (AuEq) metal
values are calculated using: Au 2797.16 USD/oz, Ag 31.28 USD/oz, Cu 4.25 USD/lbs, Pb 1955.58 USD/ton and Zn 2750.50
USD/ton on January 31st, 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 Homes take Ridge Gold Project (Auryn Resources Technical Report, Updated Mineral
Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project, prepared by Minefill
8
Services Inc. Bothell, Washington, dated May 29, 2020). Here, AuEq values were calculated using 3-year running averages
for metal price, and included provisions for metallurgical recoveries, treatment charges, refining costs, and transportation.
Recoveries for Gold were 85.5%, Silver at 74.6%, Copper at 74.6% and Lead at 45.3%. It will be assumed that Zinc can be
recovered with the Copper at the same recovery rate of 74.6%. The quoted reference of metallurgical recoveries is not
from Goliath’s Golddigger Project, Surebet Zone mineralization, and there is no guarantee that such recoveries will ever
be achieved, unless detailed metallurgical work such as in a Feasibility Study can be eventually 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 any 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. Actua l 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 i ts 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.
This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities
and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In
particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United
States, or in any other jurisdiction in which such an offer would be illegal.
The securities referred to herein have not been and will not be will not be registered under the United States Securities Act
of 1933, as amended (the “U.S. Securities Act”), or any state securities laws 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.