Goliath Intersects 117.21 G/T AuEq (115.00 G/T Au & 6.32 G/T AG) over 1 Meter* Within 24.64 G/T AuEq (23.17 G/T Au & 6.32 G/T AG) over 5.00 Meters* IN Second Batch of Surebet Zone’S Drill Results Confirming a 97% Hit Rate of Significant GOLD Mineralization Within Its 1.6 Sqkm Area
GOLIATH INTERSECTS 117.21 g/t AuEq (115.00 g/t Au & 6.32 g/t Ag) OVER 1
METER* WITHIN 24.64 g/t AuEq (23.17 g/t Au & 6.32 g/t Ag) OVER 5.00 METERS*
IN SECOND BATCH OF SUREBET ZONE’S DRILL RESULTS CONFIRMING A 97% HIT
RATE OF SIGNIFICANT GOLD MINERALIZATION WITHIN ITS 1.6 SQKM AREA
DRILL HIGHLIGHTS:
Hole GD-22-80 collared from Pad 3 (1000 meters step-out to the West from Surebet Main) intersected
high-grade gold mineralization containing 117.21 gpt AuEq (115.00 gpt Au and 28.50 gpt Ag) over 1
meter* within 24.64 gpt AuEq (23.17 gpt Au and 6.32 gpt Ag) over 5.00 meters*.
Hole GD-22-70 collared from Pad 8 (750 meters step-out to the West from Surebet Main) intersected
high-grade gold mineralization containing 41.85 gpt AuEq (37.03 gpt Au and 195.37 gpt Ag) over 2.02
meters* within 14.66 gpt AuEq (12.93 gpt Au and 69.00 gpt Ag) over 6.00 meters*.
Hole GD-22-72 collared from Pad 10 (600 meters step-out to the West from Surebet Main) intersected
high-grade gold mineralization containing 8.01 gpt AuEq (7.18 gpt Au and 24.60 gpt Ag) over 3.12
meters* within 5.37 gpt AuEq (4.76 gpt Au and 18.58 gpt Ag) over 5.07 meters*.
Hole GD-22-83 collared from Pad 17 (150 meters South of Surebet Main) intersected high-grade gold
mineralization containing 8.72 gpt AuEq (7.62 gpt Au and 49.45 gpt Ag) over 2.00 meters* and 4.20
gpt AuEq (3.66 gpt Au and 23.83 gpt Ag) over 5.00 meters* within 2.48 gpt AuEq (2.15 gpt Au and
15.53 gpt Ag) over 10.00 meters*.
Hole GD-22-86 collared from Pad 10 (600 meters step-out to the West from Surebet Main) intersected
high-grade gold mineralization containing 4.78 AuEq (4.19 gpt Au and 14.41 gpt Ag) over 3.11 meters*
within 1.83 gpt AuEq (1.58 gpt Au and 6.15 gpt Ag) over 11.11 meters*.
Hole GD-22-56 collared from Midwest Pad (300 meters step -out to the West from Surebet Main)
intersected high-grade gold mineralization containing 5.71 gpt AuEq (4.58 gpt Au and 42.93 gpt Ag )
over 3.00 meters within 3.75 gpt AuEq (2.99 gpt Au and 28.27 gpt Ag) over 5.00 meters*.
The weighted average width* and grade * of the Surebet Zone when combined with the 2021 and
2022 results totaling 66 holes (assays still pending on 27 holes) are:
Interval in
Meters* Au (gpt) Ag (gpt) Cu (%) Pb (%) Zn (%) AuEq (gpt)
5.33 4.74 64.35 0.02 0.41 0.44 5.97
100% of all 24 holes drilled during the 2021 maiden campaign totalling 5,332 meters intersected
significant high-grade gold-silver mineralization over 1 km of strike and 1.1 km of down dip extent.
GD-21-03 intersected 6.37 gpt AuEq (4.46 gpt Au and 122.13 gpt Ag) over 35.72 meters*. The average
grade and width from all 24 holes assayed 6.29 gpt AuEq (4.35 gpt Au and 104.94 gpt Ag) over 5.87
meters* respectively, demonstrating excellent continuity of the Surebet Zone and grades.
42 out of 44 widely spaced holes from the 20 22 program that have received assays to date from
within the 1.6 square kilometer area of the Surebet Zone intersected broad high -grade intervals of
gold-silver mineralization demonstrating the continuity of this newly discovered large gold system in
the Golden Triangle, British Columbia; two holes drilled into dykes.
Drill results reported to date from both the maiden drill campaign in 2021 and infill drilling campaign
in 2022 confirm strong gold mineralization in 66 of 68 holes (97% hit rate) assayed from within the
1.6 square kilometer Surebet Zone are that remains open.
Assays from 66 drill holes to date has confirmed a 97% drilling hit rate and strong gold mineralization
on the Surebet Zone that covering at least 1.6 square kilometers which remains open. Results to date
demonstrate its part of a much larger gold mineralized system covering at least 5.25 square
kilometers that also remains open. The assays results received to date confirm the high-grade Surebet
Zone is demarked by an area that spans from North Rubble , west-southwest 1.2 km to Pad 1 (that
remains open to the North and West), southwest 750 m to Pad 11 and east 750 m to Pad A (which
remains open to the East and East-Southeast).
Assays for the final drill 27 holes still pending will be included in Batch 3 are expected to be released
in the near future once received, compiled, and interpreted. These holes are from pads 5, 7, 12, 13,
Real Deal, West of N.E. Fault and G, all located within the Surebet Zone covering an area of 1.6 square
kilometers (see map above).
PROPERTY HIGHLIGHTS:
Based on our data and understanding of the property , Goliath has recently more than doubled its
land package from 23,859 hectares to 52,756 hectares. The newly staked ground covers key world
class geologic terrain on trend for 56 kilometers along the red line providing for tremendous
additional discovery potential of several newly exposed areas of outcropping rocks due to recent
permanent snow and glacial abatement. The Red Line demarks the contact between rocks of the
Stuhini Group and the Hazelton Group, believed to be a key marker within ~2 kilometers of which the
majority of the world-class multi-million-ounce deposits are located in the Golden Triangle.
In preparation for advancing the project towards future development of the Surebet discovery, the
Company has initiated an environmental baseline study together with EDI - Environmental Dynamics,
a third-party firm specializing in this area of expertise.
The Golddigger property is located in a mining friendly and geo-political safe jurisdiction. Its close in
proximity to the communities of Alice Arm and Kitsault 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 are include the Dolly Varden Silver Mine access road (only 8
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 t own of Prince Rupert
(population 12,000) is located on the coast and houses an international container seaport also with
direct access to railway and an airport with supplies (food, fuel, lumber, etc.).
Toronto, Ontario – November 30, 2022 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE:
B4IF) (the “Company” or “Goliath”) is pleased to report the second batch of assay results of the 2022 drill
campaign on the Surebet Zone discovery at its 100% controlled Golddigger Property (the “Property”), Golden
Triangle, B.C. Fifteen (15) out of 16 newly reported holes from within the 1.6 square kilometer area on the
Surebet Zone intersected broad intervals of high-grade gold-silver min eralization demonstrating the
continuity of this newly discovered large gold system.
Assays to date for 66 out of 68 drill holes (97% hit rate) collared within the 1.6 square kilometer area have
returned significant gold-silver intervals. Hole numbers GD-22-55 from batch 1 and GD -22-67 from batch 2
set of assays drilled into dykes and did not intersect the Surebet Zone. Assays have confirmed that the Surebet
Zone covers at least 1.6 square kilometers demarked by an area that spans from North Rubble to Pad 1, Pad
11 and Pad A and remains open. Assays for the final 27 drill holes still pending will be included in Batch 3 and
are expected to be released in the near future once rec eived, compiled, and interpreted. These holes are
from pads 5, 7, 12, 13, Real Deal, West of N.E. Fault and G, which are all located within the 1.6 square
kilometer area (see map above).
Drill highlights from the second batch of results from the 2022 drill campaign include: hole GD-22-80 collared
from Pad 3 (1000 meters step -out to the West from Surebet Main) which intersected high-grade gold
mineralization containing 117.21 gpt AuEq (115.00 gpt Au and 28.50 gpt Ag) over 1 meter* within 24.64 gpt
AuEq (23.17 gpt Au and 6.32 gpt Ag) over 5.00 meters*; hole GD-22-70 collared from Pad 8 (750 meters step-
out to the West from Surebet Main) which intersected high-grade gold mineralization containing 41.85 gpt
AuEq (37.03 gpt Au and 195.37 gpt Ag) over 2.02 meters* within 14.66 gpt AuEq (12.93 gpt Au and 69.00 gpt
Ag) over 6.00 meters*; hole GD-22-72 collared from Pad 10 (600 meters step-out to the West from Surebet
Main) which intersected high-grade gold mineralization containing 8.01 gpt AuEq (7.18 gpt Au and 24.60 gpt
Ag) over 3.12 meters* within 5.37 gpt AuEq (4.76 gpt Au and 18.58 gpt Ag) over 5.07 meters*; hole GD-22-
86 collared from Pad 10 (600 meters step-out to the West from Surebet Main) which intersected high-grade
gold mineralization containing 4.78 AuEq (4.19 gpt Au and 14.41 gpt Ag) over 3.11 meters* within 1.83 gpt
AuEq (1.58 gpt Au and 6.15 gpt Ag) over 11.11 meters* ; hole GD-22-56 collared from Midwest Pad (300
meters step-out to the West from Surebet Main) which intersected 5.71 gpt AuEq (4.58 gpt Au and 42.93 gpt
Ag) over 3.00 meters* within 3.75 gpt AuEq (2.99 gpt Au and 28.27 gpt Ag) over 5.00 meters*; and hole GD-
22-83 collared from Pad 17 (150 meters South of Surebet Main) which intersected 8.72 gpt AuEq (7.62 gpt Au
and 49.45 gpt Ag) over 2.00 meters* and 4.20 gpt AuEq (3.66 gpt Au and 23.83 gpt Ag) over 5.00 meters*
within 2.48 gpt AuEq (2.15 gpt Au and 15.53 gpt Ag) over 10.00 meters (see full table below).
Roger Rosmus, Founder and CEO of Goliath Resources, states: “Assays from within the 1.6 square kilometer
Surebet Zone are confirming exceptional results with a 97% hit rate with 66 out of 68 holes reported to date
intersecting significant widths and grades of gold mineralization. This demonstrates incredible continuity of
this discovery that has excellent metallurgy with a 98.2% gold recovery with zero deleterious elements all
located in close proximity to major infrastructure in B.C. Canada. This is an exceptional result for an original
discovery that has advanced at an incredible rate considering that the maiden exploratory drill program
started just over a year ago in the summer of 2021 and the total field time to date on the Surebet discovery is
just 6 months for both 2021 and 2022 combined has provided an excellent ROI for its shareholders. Based on
these promising results seen in both grade and geometry, this is quickly evolving into a new world-class high-
grade gold discovery. W e have commissioned additional metallurgical testing (initial met allurgical work
showed 38.1 % free gold and excellent recovery’s using simple gravity) and an environmental baseline study
focussed on moving the project forward towards potential future development . The Surebet Discovery has
garnered the interest from several miners and institutions alike. We look forward to reporting assays on the
remaining 27 holes in batch three from our 2022 drill campaign with much anticipation.”
Table 1: Selected 2022 Golddigger drill hole assay results.
Pad Hole From (m) To (m) Interval (m) Au (gpt) Ag (gpt) Cu (%) Pb (%) Zn (%) AuEq (gpt)
Pad 3 GD-22-80 Interval 360.00 365.00 5.00 23.17 6.32 0.01 0.02 0.68 23.64
Including 360.00 361.00 1.00 115.00 28.50 0.02 0.07 3.34 117.21
Interval 370.00 372.00 2.00 7.03 6.23 0.01 0.04 0.21 7.24
GD-22-69 Interval 426.00 433.00 7.00 0.91 1.75 0.01 0.01 0.06 0.98
Including 426.00 429.00 3.00 1.73 2.51 0.01 0.01 0.11 1.84
GD-22-75 Interval 381.00 382.00 1.00 2.96 3.15 0.01 0.03 0.48 3.28
Interval 424.00 430.00 6.00 0.34 6.18 0.01 0.10 0.18 0.56
Including 424.00 426.00 2.00 0.74 9.33 0.00 0.22 0.11 0.99
Pad 8 GD-22-70 Interval 279.00 285.00 6.00 12.93 69.00 0.02 1.03 0.96 14.66
Including 281.24 283.26 2.02 37.03 195.37 0.03 3.00 2.62 41.85
Interval 326.00 328.00 2.00 1.31 7.70 0.02 0.10 0.11 1.53
GD-22-54 Interval 366.00 373.93 7.93 1.93 10.99 0.01 0.19 0.18 1.85
Including 366.00 370.15 4.15 2.83 12.32 0.01 0.25 0.21 3.19
And 373.00 373.93 0.93 3.02 11.85 0.01 0.13 0.14 3.30
Interval 380.00 382.00 3.00 0.12 44.27 0.03 0.24 0.28 0.91
GD-22-60 Interval 314.87 318.26 3.39 0.62 61.38 0.03 0.84 1.66 2.57
Including 315.72 317.42 1.70 1.11 119.63 0.04 1.67 3.19 4.90
Interval 399.00 400.00 1.00 1.36 7.76 0.01 0.08 0.20 1.60
GD-22-76 Interval 317.00 321.00 4.00 0.27 7.25 0.01 0.15 0.14 0.50
Interval 403.00 404.00 1.00 5.15 8.63 0.01 0.16 0.38 5.53
Pad 10 GD-22-72 Interval 335.93 341.00 5.07 4.76 18.58 0.03 0.41 0.37 5.37
Including 337.00 340.12 3.12 7.18 24.60 0.04 0.53 0.54 8.01
GD-22-77 Interval 304.00 310.00 6.00 1.62 21.18 0.01 0.41 0.40 2.24
Including 304.00 306.00 2.00 4.53 56.19 0.01 1.17 1.16 6.26
Interval 452.86 454.00 1.14 1.86 8.33 0.01 0.06 0.23 2.11
GD-22-86 Interval 293.15 299.20 6.05 1.23 4.54 0.01 0.08 0.06 1.36
Including 293.15 295.15 2.00 3.32 10.89 0.02 0.22 0.14 3.63
Interval 366.87 371.00 4.13 0.29 7.64 0.02 0.10 0.18 0.54
Interval 404.00 405.00 1.00 5.19 9.98 0.01 0.07 0.30 5.51
Interval 408.89 420.00 11.11 1.58 6.15 0.02 0.09 0.23 1.84
Including 408.89 412.00 3.11 4.18 14.41 0.03 0.26 0.54 4.78
Midwest GD-22-56 Interval 293.00 298.00 5.00 2.99 28.27 0.03 0.37 0.47 3.75
Including 294.00 297.00 3.00 4.58 42.93 0.05 0.53 0.68 5.71
GD-22-63 Interval 292.00 295.00 3.00 4.88 35.51 0.02 0.55 0.39 5.73
GD-22-59 Interval 211.00 217.00 6.00 1.18 27.14 0.02 0.20 0.14 1.68
Including 211.00 214.00 3.00 2.22 50.50 0.03 0.38 0.25 3.13
Pad 17 GD-22-83 Interval 100.00 111.00 11.00 0.63 16.54 0.01 0.19 0.19 1.01
Interval 130.00 136.00 6.00 1.35 14.30 0.01 0.25 0.46 1.87
Interval 156.00 165.00 9.00 0.61 7.62 0.01 0.01 0.02 0.73
Including 164.00 165.00 1.00 3.47 9.31 0.01 0.01 0.03 3.61
Interval 169.00 179.00 10.00 2.15 15.53 0.01 0.17 0.16 2.48
Including 169.00 174.00 5.00 3.66 23.83 0.01 0.31 0.24 4.19
Including 172.00 174.00 2.00 7.62 49.45 0.01 0.72 0.45 8.72
GD-22-81 Interval 16.00 20.00 4.00 0.87 47.84 0.04 0.24 0.27 1.72
Including 17.00 19.00 2.00 1.54 74.10 0.07 0.35 0.41 2.85
* Widths are reported in drill core lengths and the true widths are approximately 80-90%; AuEq metal values are calculated using: Au 1644.08 USD/oz,
Ag 19.23 USD/oz, Cu 3.47 USD/lbs, Pb 1870.50 USD/ton and Zn 2882.50 USD/ton on October 28, 2022. 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