Rob McEwen A Cornerstone Strategic Investor Increases Direct Ownership In Goliath Resources Limited
Rob McEwen A Cornerstone Strategic Investor Increases
Direct Ownership In Goliath Resources Limited
Toronto, Ontario – December 18, 2025 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF)
(FSE: B4IF) (the “Company” or “Goliath”) is pleased to report Rob McEwen a cornerstone strategic
investor has increased his direct ownership by exercising all of his warrants for total proceeds of
$1,214,285. This exercise takes Rob’s direct ownership to 4,445,142 common shares of the
Company representing 2.6% of the total issued and outstanding shares.
McEwen Inc. (TSX: MUX, NYSE: MUX) an additional cornerstone strategic investor holds 5,181,347
common shares in Goliath plus 2,590,673 warrants. These warrants have a strike price of $2.50
expiring March 10, 2026 representing $6,476,683 and if exercised, McEwen Inc. would own directly
7,772,020 of the Company or ~4.5%.
Roger Rosmus, Founder and CEO of Goliath, states: “We want to thank the continued support of all
our cornerstone strategic and long term investors, specifically Rob McEwen for the exercise of his
warrants. The funds received of $1,214,285 will further enhance and strengthen G oliath’s already
healthy financial position.”
About Golddigger Property
The Golddigger Property is 100% controlled and covers an area of 91,518 hectares in a highly prospective
geological setting of the Eskay Rift, within 3 kilometers of the Red Line in the Golden Triangle of British
Columbia. This area, in close proximity to the Red Line, has hosted some of Canada’s greatest gold mines
including Eskay Creek, Premier and Snip. Ot her 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 good 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
(see news release dated March 1, 2023).
The Property is in a well positioned 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 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 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) 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 of British
Columbia 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 v enture 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 center 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 continuing through mine
operation as well as closure and environmental remediation. Over the past three years, Goliath Resources’
membership in CASERM has allowed a high level of research to be performed on the Surebet Discovery.
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. Mr. Turna is an Independent Director of the Company.
About Goliath Resources Limited
Goliath Resources is an explorer of precious metals projects in the highly prospective Golden Triangle of
Northwestern British Columbia. All of its projects are in high quality geological settings and geopolitical safe
jurisdictions amenable to mining in C anada. 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 recently completed its largest fully funded drill campaign to date for a total of 64,364 meters in 2025
and has 70 holes with assays pending. It is fully funded for another large (40k – 50k meter) drill program in
2026. The Company’s key strategic cornerstone shareholders include Crescat Capital, a Global Commodity
Group (Singapore), McEwen Inc. (NYSE: MUX) (TSX: MUX), Waratah Capital Advisors, Rob McEwen, Eric Sprott
and Larry Childress.
For more information please contact:
Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1.416.488.2887
www.goliathresourcesltd.com
QA/QC Protocol & Disclaimer
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 DepositTM. Drill holes were planned using Leapfrog GeoTM and QGISTM
software and data from the 2017 -2024 exploration campaigns. Drill core containing quartz breccia,
stockwork, veining and/or sulphide(s), or notable alteration is 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. The bagged samples are then weighed and secured with a zip tie. Certified reference
materials (CRMs), blanks and duplicates are added in the sample stream at a rate of 10%. To ensure analytical
anonymity, CRM identification labels are removed prior to submission to the laboratory. Additional out -of-
sequence blan ks are introduced immediately following core samples that contain VG -NE or high -grade
sulphide mineralization.
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 are then inserted in a
clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples
including blanks, certified reference materials, and duplicate samples are inserted regularly into the sample
sequence at a rate of 10%.
All samples are transported in rice bags sealed with numbered security tags. The rice bags are transported
from the core shacks to the MSALABS facilities in Terrace, BC. MSALABS is certified with both AC89 -IAS and
ISO/IEC Standard 17025:2017. The core samp les undergo preparation via drying, crushing to ~70% of the
material passing a 2 mm sieve and riffle splitting. The sample splits are weighed and transferred into three
plastic jars, each containing between 300 g and 500 g of crushed sample material. A 250 g split is pulverized
to ensure at least 85% of the material passes through a 75 µm sieve. The crushed samples are transported to
the MSALABS PhotonAssayTM facility in Prince George, where gold concentrations are quantified via photon
assay analysis (meth od CPA -Au1). Samples that result in gold concentrations ≥5 ppm are analyzed to
extinction. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples,
inducing the emission of secondary gamma rays, which are measured t o quantify gold concentrations. The
assays from all jars are combined on a weight -averaged basis. Multielement analyses are carried at the
MSALABS facilities in Surrey, BC, where 250 g of pulverized splits are analyzed via ICF6xx and IMS -230
methods. The I MS-230 method uses 4 -acid digestion (a combination of hydrochloric, nitric, perchloric and
hydrofluoric acids) followed by inductively coupled plasma emission spectrometry to quantify concentrations
of 48 elements. Samples with over-limit results for Ag, Cu, Pb and Zn undergo ore-grade analysis via the ICF-
6xx method (where ‘xx’ denotes the target metal). This method employs 4 -acid digestion followed by
inductively coupled plasma emission spectrometry.
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. T here 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 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 su ch recoveries will ever be achieved, unless detailed metallurgical work such as in a
Feasibility Study can be eventually completed on the Golddigger Project.
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.
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 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 G oliath. 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.