VISIBLE GOLD FOUND ON SURFACE AT FULL HOUSE NEAR SUREBET AT NEWLY DISCOVERED SHEAR ZONES ASSAYING 113.5 g/t GOLD & 249.0 g/t SILVER, NEW DRILL TARGET FOR 2023, GOLDEN TRIANGLE, B.C. The newly discovered Full House trend consists of a series of stacked E-W trending and N dipping
VISIBLE GOLD FOUND ON SURFACE AT FULL HOUSE NEAR SUREBET AT NEWLY
DISCOVERED SHEAR ZONES ASSAYING 113.5 g/t GOLD & 249.0 g/t SILVER,
NEW DRILL TARGET FOR 2023, GOLDEN TRIANGLE, B.C.
The newly discovered Full House trend consists of a series of stacked E-W trending and N dipping
significantly mineralized shear zones sporadically outcropping at surface over 3 kilometers
characterized by Surebet-style Mineralization with Massive to Semi-Massive Galena and Sphalerite
that remains open.
Full House sits within a broader trend of multiple stacked shear zones traced for 6.5 kilometers that
remains wide open.
Several highly mineralized newly discovered shear zones will be drill tested this season during the
2023 drill program currently underway.
Visible Gold was found in a grab sample on surface that assayed 113.5 g/t Gold and 249.0 g/t Silver
at the Payday showing located within the upper portion of the Full House Trend.
Full House is located 5 km northwest of Surebet and 3.5 km southwest of Goldswarm. All these
zones are believed to be closely related and have most likely been mineralized by the same
extensive high-grade feeder source at depth.
Assay results are pending for channel cuts from the Full House Main shear zone totalling 12 meters
over a thickness of 8 meters containing Galena, Sphalerite, and Pyrite.
Toronto, Ontario – July 19, 2023 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the
“Company” or “Goliath”) is pleased to report it has discovered a brand new strongly mineralized 6.5
kilometer trend containing multiple stacked shear zones dubbed the Full House trend at its 100 % controlled
Golddigger property (the “Property”), Golden Triangle, British Columbia.
The newly discovered zone referred to as Full House hosts Surebet-style mineralization containing galena and
sphalerite in outcropping shear zones striking east-west and dipping to the north. These mineralized shear
zones have been traced sporadically over at least 3 kilometers within a broader trend of multiple stacked
shears traced for 6.5 kilometers that remains wide open. Several areas have already been identified as drill
targets and will be tested with the drill bit during the current 2023 drill season. This new discovery is believed
to be connected to the same high-grade feeder source at depth below Surebet (5 km to the Southeast) and
Goldswarm (3.5 km to the northeast), all demonstrating the untapped remaining discovery potential on the
Golddigger Property along 56 kilometers of the Red Line that is largely unexplored. Prospecting on the new
Full House discovery remains ongoing.
Golddigger Property
The Golddigger Property is 100 % controlled covering an area of 59,089 hectares (146,012 acres) and is in the
world class geological setting of the Eskay Rift within the Golden Triangle of British Columbia and within 3
kilometers of the ‘Red Line’ that is host to multiple world class deposits. The Surebet discovery is in an
excellent location in close proximity to the communities of Alice Arm and Kitsault where there is permitted
mill site on private property . Its 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 A lice 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 and houses an international container seaport also
with direct access to railway and an airport with supplies.
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.
Other
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 core is then
described and transcr ibed 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 len gths 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 biodegra dable 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 ALS labs facilities in North Vancouver. ALS is either certified to IS O 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.
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.
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 geolog-
ical 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
www.goliathresourcesltd.com
* Widths are re ported in drill core lengths and the true widths are estimated to be 80 -90% and 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 where Goliath’s project is located such as the Homestake 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 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 fut ure performance. The use of any of the words "could", "intend", "expect",
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not historical facts are intended to identify forward -looking information and are based on Goliath’s current
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materially. In particular, this release contains forward -looking information relating to, among other things,
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