Goliath Resources Limited reported the discovery of the new high-grade gold- copper Treasure Island target that remains open on the Cambria Icefields at its 100% controlled Golddigger Property (the Property), Golden Triangle, British Columbia. The new target contains channel samples that assayed up to 28.08 gpt AuEq and grab samples that assayed up to 11.08 gpt AuEq. Treasure Island is located 36 km north of the Surebet discovery, 6 km to the east of, and on trend with, the Porter Idaho mine and 9 km east of Stewart, British Columbia.

The target has recently been exposed as a result of glacial abatement and will be drill tested for the first time during the 2024 field season. A total 15 out of 16 channel cuts assayed > 1.00 gpt AuEq, which corresponds to 94 % of channel cuts collected on Treasure Island to date. In addition, 13 out of 19 grab and chip samples assayed > 1.00 gpt AuEq, which corresponds to 68 % of chip and grab samples collected on Treasure Island to date.

Channel samples collected on Treasure Island assayed up to 28.08 gpt AuEq (20.60 gpt Au, 63.60 gpt Ag and 5.04 % Cu) over 0.85 meters; and 3.54 gpt AuEq (0.13 gpt Au, 23.96 gpt Ag and 2.34 % Cu). Grab and chip samples collected on Treasure Island assayed up to 11.08 gpt AuEq (0.04 gpt Au, 126.00 gpt Ag and 7.15 % Cu); and 8.00 gpt AuEq (5.85gpt Au, 20.70 gpt Ag and 1.43 % Cu). See Table 1 and 2 below for complete assay results.

The new high-grade gold-copper Treasure Island target consists of new mineralized bedrock outcrops that have been exposed by glacial melt. This newly discovered mineralized area shows multiple shear-hosted, polymetallic zones over a 550 meter by 450 meter NW-SE trending area that remains open in all directions. Mineralized domains are up to 20 meters wide with sections of massive chalcopyrite and pyrite occupying shears and forming sulphide-rich mineralization at structural intersections and embayment zones within strongly folded and sheared mudstone, siltstone, and tuff units.

The new Treasure Island Showing is located on the Cambria Icefields, 6 km east of, and on trend with, the Porter Idaho mine, which between 1922 and 1950 produced 27,000 tons of ore averaging 0.97 gpt Au and 2,700 gpt Ag. The outcrop has only recently been exposed as a result of glacial retreat and permanent snowpack abatement and it demonstrates the strong untapped potential for additional discoveries on the Golddigger property, which encompasses 56 km of the Red Line. The new target is drill ready and will be tested for the first time during the maiden 2024 drill campaign with at least 2,000 meters of drilling from 5 pads and could quickly evolve into a significant high-grade discovery.

Multiple additional high-grade gold-silver-base-metals showings have been identified on the Cambria Icefields claims. These showings will be further explored during the 2024 field season in preparation for future drilling and include the previously announced Metallica showing, as well as some new showings. The Metallica showing is located 19 km east of Treasure Island and consists of strongly altered quartz-sulphide stockwork and veins up to 30 cm wide hosted in intermediate volcanic rocks, with 2 % pyrite, 1 % chalcopyrite and 1 % galena. The Big One showing is located 23 km southeast of Treasure Island and comprises several quartz calcite veins up to 10 cm wide hosted in sedimentary rocks, with up to 5 % pyrrhotite, and minor pyrite, arsenopyrite and chalcopyrite.

The Honey Pot showing is located 15 km south of Treasure Island and consists of quartz veins up to 30 cm wide hosted in a diorite, with aggregations of pyrite. Multiple other showings have been discovered on the Cambria Icefields and more prospecting, sampling, and mapping is required in order to assess and expand on their mineral potential. The Golddigger Property is 100% controlled covering an area of 64,264 hectares (158,800 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 has exceptional metallurgy with gold recoveries of 92.2% inclusive of 48.8% free gold from gravity alone at a 327-micrometer crush (no deleterious elements and no cyanide required to recover the gold based on metallurgical work completed to date). It is in an excellent 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 and houses an international container seaport also with direct access to railway and an airport with supplies.