Toronto, Ontario - Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the 'Company' or 'Goliath') is pleased to report the first set of assay results of the 2022 drill campaign have confirmed the Surebet Zone covers at least 1.6 square kilometers at its 100% controlled Golddigger Property (the 'Property'), Golden Triangle, B.C. Twenty-seven (27) out of 28 or 96% of these holes assayed this year from the Surebet Zone intersected broad high-grade intervals of gold-silver mineralization demonstrating the continuity of this newly discovered large gold system. The Surebet Zone is demarked by an area that spans from North Rubble to Pad 1, Pad 11 and Pad A and remains open. Assays are still pending on 43 holes from pads 3, 5, 7, 8, 10, 13, 17, Midwest, West of NE Fault and G, all located within the Surebet Zone. They will be released once received, compiled, and interpreted (see map above).
Dr. Quinton Hennigh, Geologic/Technical Director of Crescat Capital, a strategic investor in Goliath Resources, states: 'This first batch of assays from the Surebet Zone provides an early picture of where this story is headed. Many of these holes were drilled early in the season from drill pads lower in elevation that were accessible before snow melted at higher elevations. Therefore, these are predominantly located around the lower margins of the Surebet Zone. Given that virtually all of these holes have encountered significant mineralization across this important structure in line with results from holes drilled last season, predominantly along the upper outcropping margin of Surebet, we can now start to conjecture the Surebet Zone is continuous over a footprint of approximately 1.6 sq km. It is seldom one can become confident about such a vein target in such a short period of time. Results from holes still in the lab will soon give us a picture of continuity of mineralization within the interior of the Surebet Zone. Given visual indications from core discussed by Goliath in previous news releases, I am very hopeful that continuity of the structure will be strong. As for any vein system, grades will be higher and lower from place to place and high-grade shoots will inevitably take shape with more drilling, but we can already see Surebet is continuous, extensive, thick, and overall, high-grade.'
Roger Rosmus, Founder and CEO of Goliath Resources, states: 'Assays from within the Surebet Zone encompassing a 1.6 square kilometer area has shown a 98% hit rate with 27 holes from this year and 24 from 2021 intersecting significant widths of high grade gold-silver mineralization. This demonstrates excellent continuity of this newly discovered large gold system. This is an exceptional result for an exploratory drill program considering the vast distances between the holes and it remains open. With just over 31,500 meters of drilling and roughly $20M spent in the ground, our long-term shareholders have seen a significant ROI based on results to date. We are clearly onto a once in a lifetime large gold discovery. Based on assay results and information gained during the field season, Goliath has more than doubled its land package from 23,859 hectares to 52,756 hectares covering key terrain with strong additional discovery potential in a world class geological setting and geopolitical safe jurisdiction. The extensive new data acquired from our 2022 program shows enormous untapped gold potential for 2023 and beyond. We believe we could be seeing the tip of the iceberg based on the enormous gold mineralizing system confirmed with assays to extend for 5.25 square km that remains open. We look forward to reporting assays on the remaining 43 drill holes from the 2022 drill campaign with much anticipation.'
Hole GD-22-58 collared from South Cliff Stepout Pad (330 meters step-out to the East from Surebet Main) intercepted high-grade gold mineralization containing 24.80 gpt AuEq (22.03 gpt Au and 127.62 gpt Ag) over 11.00 meters* including 38.70 gpt AuEq (34.42 gpt Au and 197.45 gpt Ag) over 7.00 meters* and 44.47 gpt AuEq (39.60 gpt Au and 224.99 gpt Ag) over 6.07 meters*. Hole GD-22-49 collared from Pad A, located 750 meters South of Surebet Main outcrop, on the East side of the Northeast Fault in the East Extension zone, intercepted 3 mineralized intervals consisting of 21.30 gpt AuEq (20.46 gpt Au and 40.06 gpt Ag) over 7.77 meters*, including 27.55 gpt AuEq (26.47 gpt Au and 51.55 gpt Ag) over 6.00 meters* hosted in the Hazelton volcanics. Additional gold-mineralized intervals above the principal mineralized zone in this hole include 6.93 gpt AuEq (6.74 gpt Au and 7.46 gpt Ag) over 4.00 meters* hosted in the Hazelton sediments and 3.37 gpt AuEq (3.27 gpt Au and 2.79 gpt Ag) over 4.00 meters* hosted in the Hazelton volcanics. Pad A is located 300 m west of Pad G, where drilling intersected a 76.01 meter* mineralized interval consisting of a series of pyrrhotite, galena and sphalerite-rich veins, stringers and semi-massive to massive fine-grained sulphides (assays pending) similar to what has been observed in drill holes from pad A. The New East Extension zone remains open to the East and Southeast. Other highlights include: hole GD-22-48 collared from North Rubble (270 meters Northwest of Surebet Main outcrop) which intersected 12.61 gpt AuEq (6.98 gpt Au and 441.59 gpt Ag) over 11.00 meters* including 15.37 gpt AuEq (8.42 gpt Au and 537.57 Ag) over 9.00 meters and 32.84 gpt AuEq (18.20 gpt Au and 1141.70 gpt Ag) over 4.00 meters; hole GD-22-46 collared from North Rubble (270 meters Northwest of Surebet Main outcrop) which intersected 8.91 gpt AuEq (5.63 gpt Au and 240.00 gpt Ag) over 9.10 meters* including 13.19 gpt AuEq (8.77 gpt Au and 322.59 gpt Ag) over 5.77 meters*; hole GD-22-71 collared from Pad 16 (460 meters step-out to the Southwest from Surebet Main) which intersected 7.59 gpt AuEq (5.52 gpt Au and 152.89 gpt Ag) over 11.00 meters* including 13.29 gpt AuEq (9.86 gpt Au and 259.24 gpt Ag) over 6.00 meters*; hole GD-22-68 collared from Pad 16 (460 meters step-out to the Southwest from Surebet Main) which intersected multiple intervals of gold mineralization assaying up to 4.99 gpt AuEq (4.74 gpt Au and 9.31 gpt Ag) over 6 meters*, including 13.27 gpt AuEq (13.05 gpt Au and 20.55 gpt Ag) over 2.00 meters*; hole GD-22-53 collared from South Cliff Stepout Pad (330 meters step-out to the East from Surebet Main) which intercepted multiple intervals of gold-mineralization consisting of 10.26 gpt AuEq (9.98 gpt Au and 10.34 gpt Ag) over 9.70 meters* including 15.29 gpt AuEq (14.89 gpt Au and 14.21 gpt Ag) over 6.48 meters* and 39.52 gpt AuEq (39.13 gpt Au and 17.26 gpt Ag) over 2.20 meters*; hole GD-22-36 collared from Pad 11 (1 km Southwest of Surebet Main) which intersected high-grade gold mineralization containing 12.23 gpt AuEq (12.19 gpt Au and 1.70 gpt Ag) over 3.00 meters*; hole GD-22-44 collared from Pad 11 (1 km Southwest of Surebet Main) which intersected 3.46 gpt AuEq (3.44 gpt Au and 0.61 gpt Ag) over 3.00 meters*, including 8.06 gpt AuEq (8.04 gpt Au and 0.64 gpt Ag) over 1.00 meters*; hole GD-22 73 collared from Pad 1 (1.2 km step-out to the West from Surebet Main) which intersected 1.33 gpt AuEq (1.20 gpt Au and 4.12 gpt Ag) over 28.59 meters* and hole GD-22-65 collared from Northwest Pad (500 meters step-out to the Northwest from Surebet Main) which intersected 3.80 gpt AuEq (2.78 gpt Au and 43.40 gpt Ag) over 3.00 meters* including 5.51 gpt AuEq (4.05 gpt Au and 62.05 gpt Ag) over 2.00 meters*
The initial 2022 assay results combined with last year's results show that gold-silver mineralization confirmed in drill hole overlaps with the classic Surebet Zone mineralization consisting of galena, sphalerite and pyrrhotite in semi-massive to massive veins, stringers, interstitial within brecciated zones and/or as stringers throughout the core that has been confirmed in 92 holes drilled from 20 pads widely spaced over an area of 1.6 square kilometers in the Hazelton sedimentary and volcanic rocks. All 68 holes drilled within the 1.6 square kilometer area during the 2022 drill campaign intersected significant broad intervals containing galena, sphalerite and pyrrhotite, including visible gold. These drill intercepts visually mirror with the large majority exceeding the intercepts reported in this news release which contained the same mineralization (galena, sphalerite, pyrrhotite) and textures (quartz breccia/stockwork/vein) and have confirmed gold and silver assays indicating a large gold mineralized system at Surebet. The presence of gold-mineralized intervals in drill holes collared outside the 1.6 square kilometer area demarking the Surebet Zone (i.e., Pad J, Pad 9, Pad 15, New Gold) is confirmation of a much more extensive gold mineralizing system on the Golddigger property. The Company first target generation/exploration in the Surebet area was focussed on following up on a 57 ppb Au government silt sample (96 percentile) located down stream in one of the main creeks that drains from the Surebet Zone discovery (see map above). Two weeks of prospecting and sampling with a 5 men crew, silt and rock geochemistry and a detailed study of lidar and orthophoto imagery eventually led to the Surebet Discovery. Similarly, the steeply dipping high-grade Goldswarm quartz breccia zone located 4 km along strike to the North of the Surebet Zone was discovered based on a government stream sediment sample that assayed 180 ppb Au (98 percentile)
About Goliath Resources Limited
Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern 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.
Contact:
Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1-416-488-2887
E: roger@goliathresources.com
WEB: www.goliathresourcesltd.com
GOLIATH RESOURCES LIMITED 
