Goliath Resources Limited reported observations from drill holes completed on Pad 9, 11, 15, A and Lake Pad on the Surebet discovery at its 100% controlled Golddigger Property, Golden Triangle, B.C. All holes drilled to date during the 2022 drill campaign on Surebet has intersected significant intervals of sulphide mineralization consisting of a combination of pyrrhotite, galena, sphalerite, chalcopyrite and pyrite in semi-massive to massive veins, stringers and/or disseminated throughout the rock. The extensive mineralizing system on Surebet has been confirmed over 2.5 km North-South and 2.1 km East-West for a total footprint of 5.25 square kilometers. The system remains wide open in all directions.

Two distinct styles of mineralization have been observed: sulphide mineralization occurring in quartz veins, stockwork and/or breccia, and sulphide mineralization occurring in the host rock (sediments or volcanics). Drill holes GD-22-39, GD-22-42, GD-22-47, GD-22-49 and GD-22-50 collared from Pad A, and GD-22-40, GD-22-43 and GD-22-45 collared from Lake Pad are characterized by mineralization occurring in quartz veins, stockwork or breccia. Mineralization primarily occurs as semi-massive to massive sulphides in veins/breccia, as stringers and aggregations within or at the edge of veins, or as interstitial mineralization between breccia clasts.

The majority of the mineralization consists of pyrrhotite (locally up to 30%), pyrite (locally up to 15%), sphalerite (locally up to 10%), galena (locally up to 10%) and chalcopyrite (locally up to 5%). This type of mineralization corresponds to what has been observed in the main Surebet Zone and is typically hosted in shear zones within the sedimentary units. Mineralization observed in drill holes GD-22-28, GD-22-29 and GD-22-31 collared from Pad 15 occurs in the host rock, where sulphides usually occur as fracture fill stringers and aggregations within the host rock itself (sedimentary or volcanic units).

The principal sulphides observed are pyrrhotite (up to 15 %), sphalerite (up to 5 %), chalcopyrite (up to 5 %) and pyrite (up to 15 %). The host rock generally consists of moderately chloritized plagioclase-phyric andesite. Occasionally the host rock is the overlying interbedded, moderately chlorite and biotite altered, sandstone and siltstone.

These units are intruded by a series of felsic and mafic dykes that don't carry any mineralization. Drill holes GD-22-32, GD-22-34 and GD-22-37 collared from Pad 9 and GD-22-36, GD-22-38, GD-22-41 and GD-22-44 collared from Pad 11 intersect the contact between sediments and volcanic rocks and contain both types of mineralization. Assays are pending on all 2022 drill holes and will be reported once received compiled and interpreted.

2022 drill campaign: 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. Multiple surface channel, chip and grab samples collected from Real Deal and Cloud 9 secondary structures believed to be associated with the Surebet Zone 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. Due to the extent of the mineralized intercepts observed at Pad J and Pad A, the company has decided to drill 3 additional holes from the newly built Pad G.