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GOT.V ·

Goliath Wishes to Announce the Appointment of Mr. Rein Turna to the Board of Directors

Management Changes

GOLIATH WISHES TO ANNOUNCE THE APPOINTMENT OF MR. REIN TURNA

TO THE BOARD OF DIRECTORS

Toronto, Ontario – October 19, 2023 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF)

(the “Company” or “Goliath”) wishes to welcome Mr. Rein Turna to the Board of Directors . Mr. Jean Lafleur

has resigned from the board due to personal and other significant work commitments. We would like to thank

Mr. Lafleur for his insightful contributions and wish him well in all his endeavours.

Mr. Rein Turna, P .Geo. is a consulting geologist with over 40 years experience in mineral exploration in British

Columbia, Ontario, Saskatchewan, Yukon and Northwest Territories. He is a registered professional geologist

with the Association of Professional Engineers and Geoscientists of British Columbia since 1993. Mr. Turna

has held staff and consulting positions with mining companies including Placer Dome Inc., Falconbridge Ltd.,

UMEX Inc., Lac Minerals Ltd. and Osisko Hammond Reef Gold Ltd. He has managed exploration programs for

porphyry, volcanogenic massive sulphide, epithermal and other deposit types. Mr. Turna has also researched

and worked on Archean orogenic gold as well as sedex prospects.

The Company has granted a total of 1,254,750 options for a five year period to certain consultants,

management and board members priced at $0.74.

About Goliath Resources Limited

Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of north-

western 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.

For more information please contact:

Goliath Resources Limited

Mr. Roger Rosmus

Founder and CEO

Tel: +1.416.488.2887

[email protected]

www.goliathresourcesltd.com

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 pre ss 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 r elating 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 th is 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 constit ute 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 U nited 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.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE

SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.