Goliath Resources Limited reported initial observations from its first successful inaugural hole of 84 planned drill holes for the 2022 diamond drill campaign on the Surebet discovery at its 100% controlled Golddigger Property (the “Property”), Golden Triangle, B.C. GD-22-25 (E 458908.947, N 6161976.043, azimuth 120°; dip -85°) was collared from Pad J the most easterly pad planned for 2022 at the New Extension Target located 1.5 km South-East of the outcropping Surebet and 2 km East-West from Real Deal. Inaugural drilling on the New Extension Target intercepted five broad mineralized intervals characterized by disseminated sulphides, sulphides in stringers, veins and breccias containing pyrrhotite, pyrite and chalcopyrite. The Intervals are from bedrock at 42.4 m to 137.9 m, 181.9 m to 190.37 m, 202.08 m to 222.14 m, 256.9 m to 261.08 m, and 276.01 m to 353.00 m (end of hole) and remains open.

The target of this hole was surface mineralization consisting of multiple channel and grab samples containing up to 44.4 gpt Au and 1629 gpt Ag modelled to be intersected at 200-250 m down hole.Sulphide mineralization primarily occurs disseminated throughout an epidotized andesitic volcanic host rock and as millimeter to centimeter-size stringers and aggregations within quartz and quartz-epidote veins and breccia. The majority consist of pyrrhotite (locally up to 2 %), pyrite (locally up to 5 %) and chalcopyrite (locally up to 3%). A fault zone was intersected from 69.63 m to 78.09 m which is believed to have partially displaced the mineralized units.

The drilling and data continue to confirm the presence of a large mineralizing system on the property and mineralization remains open in all directions. During the 2022 drill campaign, Goliath plans to test the Surebet mineralized system at depth over an extensive area reaching as far as Lake Pad to the West (940 m SW of Real Deal) and New Gold to the North (1 km north of North Rubble) focused on delineating a mineralized area of 2.1 km East-West by 2.5 km North-South. Several drill locations are planned up to 600 meters West of Real Deal to target the Surebet mineralized system at depth based on the projected model generated from the 2021 drill results and 2020 channel sample results.

A series of drill holes are planned for the New Gold zone located 1 km north of Surebet. Similarly to the New Extension Target, this zone contains surface gold mineralization over 400 meters that remains open with ~ 30 m of gold bearing breccia also observed in outcrop. The New Gold Zone is hosted in Hazelton volcanics in close proximity to the ‘Red Line'.

The majority of the world class mineral deposits discovered within the Golden Triangle are hosted in the Hazelton volcanics and occur within a few kilometers of the unconformity between Lower Hazelton and Stuhini rocks (also known as the ‘Red Line'). Multiple surface channel, chip and grab samples collected from Real Deal and Cloud 9 secondary structures believed to be associated with the Surebet Zone within this area returned significant gold and silver values, further confirming the presence of a large gold-silver rich mineralizing system at depth. These secondary structures are interpreted to be acting as conduits for fluids to the surface.

The Golddigger Property is 100 % controlled covering an area of 23,859 hectares (59,646 acres or 239 square-kilometers) and is in the world class geological setting of the Eskay Rift within the Golden Triangle of British Columbia and within 2 km of the ‘Red Line' that is host to multiple world class deposits. The property is on tide water 30 kilometers southeast of Stewart, British Columbia. Surebet is characterized by a series of NW-SE trending structures that occur within a package of Hazelton Group sediments underlain by Hazelton volcanics and are within a few kilometers of the Red Line.

All 24 diamond drill holes completed in 2021 intersected significant intervals of Au-Ag polymetallic mineralization over 1 km of strike, 1.1 km down-dip and 600 meters of vertical relief. Drill hole GD-21-03* intersected 6.37 gpt AuEq (4.46 gpt Au and 122.13 gpt Ag) over 35.72 meters and drill hole GD-21-05* intersected 12.6 gpt AuEq (8.06 gpt Au and 313.66 gpt Ag) over 6.38 meters. The average grade and width from all 24 holes* assayed 6.29 gpt AuEq (4.35 gpt Au and 104.94 gpt Ag) over 5.87 meters, respectively.

LiDAR imagery, drone imagery, and field observations have identified several additional paralleling structures within a 4 square-kilometers area. Geochemical analyses have confirmed high-grade gold-silver polymetallic mineralization within these structures. The steeply dipping Real Deal and Cloud 9 structures, as well as the off shoot structures from the Extension Zone, display similar mineralization, geochemistry and textures to the Surebet Zone.

Geologic observations at surface and within drill core show structural strain concentrating in the Surebet Zone along its shallower-dipping geometry. Real Deal and Cloud 9 are believed to be en-echelon structures that connect with Surebet at depth. The mineralized Surebet Zone remains open in all directions.