Second Batch Of Assay Results From Drill Campaign

TORONTO - Goliath Resources Limited reported on the second batch of assay results of the 2022 drill campaign on the Surebet Zone discovery at Golddigger 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 mineralization 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 received, 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.

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 meter 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.

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. We have commissioned additional metallurgical testing (initial metallurgical 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.”