Goliath Resources Limited reported 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. 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 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. 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. The high grade Goldswarm discovery outcrop is situated in the sediments at an elevation of approximately 1560 meters, only 130 meters lower than the outcropping Surebet Zone in the sediments at North Rubble (1690 meters).

During the 2022 field season Goliath's crew together with an independent geologist (PhD, P.Geo) has confirmed compelling evidence that Goldswarm is directly related to Surebet and is believed to be part of the same extensive mineralizing gold system, including similar geologic setting, mineralization, textures, structures and geochemistry. The Goldswarm zone extends for 450 meters by 150 meters and is characterized by a series of high-grade quartz veins, stockwork and breccia domain that are variably mineralized with pyrite, chalcopyrite and galena hosted in a series of sedimentary units consisting of interlayered mudstone, siltstone, and sandstone similar to those found to host the Surebet Zone. The main mineralized horizon consists of a brecciated, partially sheared quartz vein that is steeply dipping 80 to 90 degrees to the West-Southwest.

Channel samples assayed up to 29.70 gpt Au over 0.55 meters and 25.1 gpt Au over 0.40 meters and grab samples assayed up to up to 54.3 gpt, 47.5 gpt Au, 26.5 gpt Au and 24.5 gpt. Both Surebet and Goldswarm were discovered based on stream sediments geochemistry (>96 percentile). The Company is planning to undertake focussed exploration and prospecting work in the headwaters of a 509 ppb Au government stream sediment sample (99 percentile) collected only 4 km to the South of Surebet in the creek that drains from the south slope of the ridge immediately south of Surebet and is believed to be part of the same extensive gold mineralizing system.

This area is referred to as the “Ace In the Hole”, and is an area with very strong gold discovery potential within the same geologic domain that shows the same lithologies and initial geochemistry as seen at Surebet.