- Gold-bearing quartz-sulphide mineralization including Visible Gold to the Naked Eye (VG-NE) is present in multiple previously announced drill holes containing broad mineralized intervals, confirming the presence of newly defined volcanic Wedge Zones located at the intersection of the Bonanza and Golden Gate Zone (see Figures 1, 2, 3, 4, 5a, 5b and Table 1).
- The volcanic Wedge Zone is characterized by broad intervals of gold within quartz-sulphide mineralization including VG-NE that typically extend for 10 – 50 meters in drill core, with grades up to 3.60 g/t AuEq and widths up to 58 meters.
- The volcanic Wedge Zones intervals collectively define a mineralized area extending up to 310 meters in length and 110 meters vertically, consisting of numerous stacked mineralized veinlets.
- Two mineralized volcanic wedges have been identified: one in the south-central part of the known mineralized system and the second within the recently announced 540 meter step-out to the southwest. Please see Figure 3 for a conceptual representation of the volcanic wedge zone, which is located between the Bonanza and Golden Gate Zones. Assays are pending on additional wedge zone holes from the 2026 drill program.
- The Bonanza Zone is located at the contact between an overlying sedimentary package and underlying volcanics. The new Wedge Zone and Golden Gate Zone are both hosted in the volcanics.
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e7ef11e6-7b84-42fc-bb58-a51c4406af4a
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/08d79005-3c40-40be-bc33-3fca26f01c27
- The wedge intervals comprise dense networks of thin mineralized veinlets interpreted to represent distributed fractures filled by mineralized fluids within structural interaction damage zones developed around the Bonanza–Golden Gate junctions.
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/078e5973-96dd-4638-a974-d336907db132
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/58b3417f-435e-4592-a254-6dcd390e761d
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5455167c-a785-4ca6-8f57-8d7b0fb42589
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/832a8c3f-92bf-4b5c-b62d-fe7cd701451d
- Local stresses associated with the interaction between two major structures (Bonanza and Golden Gate Zones) are interpreted to have caused secondary fracturing that increased permeability and provided additional pathways for gold-bearing mineralizing hydrothermal fluids.
- The lower-grade volcanic Wedge Zone connects the higher-grade Bonanza and Golden Gate Zones into a broader mineralized rock volume, significantly increasing the volume of mineralized material amenable to bulk mining.
- The total footprint of the Surebet system is 2.01 km2, which represents a 12% increase compared to 1.8 km2 defined prior to the 2026 drilling season. The Bonanza Zone has been expanded to 1.51 km2 from 1.27 Km2 (a 19% increase) and the Golden Gate Zone has been expanded to 1.17 Km2 from 0.85 Km2 (a 38% increase); see news August 24, 2026.
- The fully funded 2026 drill program comprises approximately 50,000 meters of systematic drilling, including 7 drill rigs targeting expansion of the known gold mineralization laterally and at depth, focused on the Bonanza, Eldorado, Golden Gate, Surebet and Whopper Zones.
TORONTO, Aug. 31, 2026 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report confirmation of the newly defined volcanic Wedge Zones comprised of gold-bearing quartz-sulphide mineralization including VG-NE within broad intervals in multiple drill holes located directly between the structural intersection of the Bonanza and Golden Gate Zones, significantly expanding the potential volume of known mineralization on its 100% owned Golddigger Property (the “Property”), Golden Triangle, British Columbia. With the increased drill density over the past few seasons, it has increased our understanding and confidence defining these mineralized wedge zones that have assayed up to 3.60 g/t AuEq, and with widths up to 58 meters (2022 – 2026 drill holes previously announced) outside the focus on the major higher-grade gold lodes/veins.
Drilling within the volcanic wedge has successfully intersected broad intervals of gold-bearing quartz-sulphide mineralization, locally extending continuously for 10 to 50 meters in drill core. This lower-grade envelope physically connects the Bonanza Zone with the Golden Gate Zone. The mineralization is characterized by dense networks of thin, mineralized veinlets interpreted as distributed structural fractures within an intense damage zone developed around the junction of the two main trends. Structural observations suggest that local stress perturbations generated by the interaction between the major Bonanza and Golden Gate shear zones promoted extensive secondary fracturing. This increased local permeability, creating efficient conduit pathways for gold-rich hydrothermal fluids. Crucially, these newly defined areas of continuous low-grade volcanic wedge bridges the previously separate high-grade target zones, opening up the potential for large-scale, bulk-tonnage extraction methods in a mining scenario.
Mr. Roger Rosmus, Founder & CEO of Goliath states: “Every drilling season at the Surebet discovery has brought pleasant surprises and we are seeing that again in 2026. Drilling the high-grade gold lodes/veins within the volcanics was part of the focus this year, and we now have two newly defined broader low-grade zones associated with the high-grade Bonanza and Golden Gate Zones. I would also point out that these volcanic wedges are in close proximity to the large NE Fault which could be a possible conduit. Considering the meters of drilling to date, north of 180,000, it is remarkable that as we follow the gold mineralization, we continue to expand the system. In a high-grade gold system it is unique to have such a large footprint as we have drilled at Surebet, and the widespread high-grade and tremendous amount of visible gold is clearly showing that the Surebet Discovery is ticking all the right boxes. For the past few drilling seasons, we have maintained that Surebet is the most important high-grade gold discovery in the Golden Triangle in many years, and it just keeps getting bigger and bigger every drill season as well as pleasant surprises along the way.”
The recently reported total footprint of the Surebet system is 2.01 km2, which represents a 12% increase compared to 1.8 km2 defined prior to the 2026 drilling season. The Bonanza Zone has been expanded to 1.51 km2 from 1.27 Km2 (a 19% increase) and the Golden Gate Zone has been expanded to 1.17 Km2 from 0.85 Km2 (a 38% increase); see news August 24, 2026.
The fully funded 2026 drill program is underway and will include approximately 50,000 meters of systematic drilling designed to expand the known mineralization laterally and to depth (all mineralized lodes/veins remain open for expansion and new discoveries), as well as test for the Motherlode Magmatic Gold Feeder Source. Expansion drilling will focus on extending the footprint of the Bonanza, Golden Gate and Surebet Zones and testing other gold-rich mineralized lodes/veins that remain open. Additional drilling will be allocated to testing a number of lithological-structural features linked to magnetic anomalies strongly indicating the presence of a Motherlode causative magmatic intrusion gold feeder source.
Table 1: Gold equivalent and gold assay results in this news release and previously reported (2022 – 2026 https://goliathresourcesltd.com/news-releases/).
| Hole ID | From (m) |
To (m) | Interval (m) |
Au (g/t) |
Ag (g/t) |
Cu % | Pb % | Zn % | AuEq (g/t) |
|
| GD-24-291 | Interval | 26.00 | 59.00 | 33.00 | 1.92 | 1.85 | 0.01 | 0.02 | 0.06 | 1.97 |
| GD-23-192 | Interval | 37.00 | 73.65 | 36.65 | 1.34 | 3.00 | 0.00 | 0.05 | 0.08 | 1.42 |
| GD-24-237 | Interval | 426.00 | 472.00 | 46.00 | 0.98 | 5.40 | 0.01 | 0.12 | 0.16 | 1.13 |
| GD-24-287 | Interval | 39.00 | 73.00 | 34.00 | 1.41 | 3.00 | 0.01 | 0.04 | 0.10 | 1.50 |
| GD-24-264 | Interval | 49.00 | 75.00 | 26.00 | 1.85 | 4.57 | 0.01 | 0.03 | 0.06 | 1.95 |
| GD-22-95 | Interval | 98.00 | 119.00 | 21.00 | 2.17 | 1.43 | 0.00 | 0.01 | 0.03 | 2.20 |
| GD-22-99 | Interval | 95.00 | 136.97 | 41.97 | 0.99 | 0.75 | 0.01 | 0.00 | 0.04 | 1.01 |
| GD-22-92 | Interval | 30.00 | 67.00 | 37.00 | 0.91 | 2.40 | 0.01 | 0.02 | 0.05 | 0.97 |
| GD-26-417 | Interval | 214.00 | 272.00 | 58.00 | 0.52 | pending | pending | pending | pending | pending |
| GD-22-49 | Interval | 92.00 | 100.00 | 8.00 | 3.46 | 4.69 | 0.01 | 0.05 | 0.06 | 3.56 |
| GD-22-102 | Interval | 90.00 | 123.00 | 33.00 | 0.80 | 0.47 | 0.01 | 0.00 | 0.02 | 0.82 |
| GD-22-95 | Interval | 46.00 | 69.97 | 23.97 | 1.06 | 2.06 | 0.01 | 0.02 | 0.05 | 1.11 |
| GD-25-302 | Interval | 100.00 | 114.00 | 14.00 | 1.80 | 0.93 | 0.01 | 0.01 | 0.05 | 1.84 |
| GD-22-102 | Interval | 32.00 | 62.00 | 30.00 | 0.79 | 1.30 | 0.01 | 0.01 | 0.04 | 0.83 |
| GD-23-137 | Interval | 66.00 | 78.00 | 12.00 | 2.01 | 1.35 | 0.00 | 0.00 | 0.02 | 2.04 |
| GD-24-268 | Interval | 507.00 | 555.20 | 48.20 | 0.47 | 0.56 | 0.01 | 0.01 | 0.02 | 0.49 |
| GD-24-277 | Interval | 69.00 | 103.00 | 34.00 | 0.66 | 0.88 | 0.01 | 0.01 | 0.06 | 0.70 |
| GD-25-319 | Interval | 510.00 | 540.00 | 30.00 | 0.73 | 1.47 | 0.01 | 0.02 | 0.06 | 0.78 |
| GD-25-400 | Interval | 102.00 | 131.00 | 29.00 | 0.62 | 1.69 | 0.01 | 0.02 | 0.04 | 0.67 |
| GD-26-425 | Interval | 299.80 | 317.00 | 17.20 | 1.11 | pending | pending | pending | pending | pending |
| GD-24-294 | Interval | 508.00 | 515.00 | 7.00 | 2.42 | 3.74 | 0.01 | 0.08 | 0.15 | 2.54 |
| GD-25-317 | Interval | 497.00 | 509.00 | 12.00 | 1.44 | 0.88 | 0.00 | 0.00 | 0.02 | 1.47 |
| GD-22-104_RELOG-2026 | Interval | 83.05 | 104.50 | 21.45 | 0.78 | 0.49 | 0.01 | 0.00 | 0.02 | 0.81 |
| GD-25-394 | Interval | 94.02 | 123.00 | 28.98 | 0.54 | 0.63 | 0.01 | 0.00 | 0.03 | 0.57 |
| GD-25-382 | Interval | 4.73 | 15.12 | 10.39 | 1.55 | 0.89 | 0.01 | 0.00 | 0.02 | 1.58 |
| GD-23-184 | Interval | 497.00 | 517.00 | 20.00 | 0.64 | 4.59 | 0.01 | 0.11 | 0.10 | 0.77 |
| GD-22-104 | Interval | 137.75 | 145.04 | 7.29 | 1.98 | 2.38 | 0.01 | 0.01 | 0.03 | 2.04 |
| GD-22-102 | Interval | 66.00 | 83.00 | 17.00 | 0.84 | 0.85 | 0.00 | 0.00 | 0.02 | 0.87 |
| GD-25-343 | Interval | 519.00 | 537.00 | 18.00 | 0.72 | 3.08 | 0.01 | 0.10 | 0.10 | 0.81 |
| GD-23-162 | Interval | 37.00 | 48.00 | 11.00 | 1.21 | 1.99 | 0.00 | 0.01 | 0.03 | 1.25 |
| GD-25-311 | Interval | 497.00 | 519.00 | 22.00 | 0.53 | 1.11 | 0.01 | 0.00 | 0.03 | 0.56 |
| GD-25-400 | Interval | 7.00 | 23.00 | 16.00 | 0.66 | 0.85 | 0.00 | 0.01 | 0.03 | 0.69 |
| GD-25-305 | Interval | 545.10 | 559.00 | 13.90 | 0.73 | 1.05 | 0.00 | 0.03 | 0.09 | 0.78 |
| GD-23-182 | Interval | 39.00 | 42.00 | 3.00 | 3.44 | 4.58 | 0.00 | 0.00 | 0.34 | 3.60 |
| GD-24-260 | Interval | 506.00 | 516.00 | 10.00 | 1.00 | 2.51 | 0.01 | 0.06 | 0.10 | 1.08 |
| GD-25-308 | Interval | 487.00 | 509.66 | 22.66 | 0.44 | 0.83 | 0.01 | 0.01 | 0.04 | 0.47 |
| GD-23-219 | Interval | 309.70 | 327.30 | 17.60 | 0.53 | 1.27 | 0.00 | 0.03 | 0.07 | 0.58 |
| GD-25-303 | Interval | 512.97 | 529.00 | 16.03 | 0.54 | 2.58 | 0.01 | 0.07 | 0.05 | 0.61 |
| GD-25-301 | Interval | 535.24 | 542.13 | 6.89 | 1.16 | 3.08 | 0.01 | 0.08 | 0.03 | 1.24 |
| GD-23-198_RELOG-2026 | Interval | 14.00 | 26.00 | 12.00 | 0.65 | 0.64 | 0.00 | 0.00 | 0.02 | 0.67 |
| GD-24-237 | Interval | 489.00 | 501.00 | 12.00 | 0.61 | 0.67 | 0.00 | 0.01 | 0.02 | 0.64 |
| GD-24-283 | Interval | 532.30 | 541.17 | 8.87 | 0.77 | 0.69 | 0.00 | 0.00 | 0.04 | 0.79 |
| GD-23-142 | Interval | 88.07 | 102.00 | 13.93 | 0.42 | 1.11 | 0.01 | 0.01 | 0.03 | 0.45 |
| GD-25-314 | Interval | 165.00 | 181.00 | 16.00 | 0.34 | 1.94 | 0.01 | 0.01 | 0.04 | 0.39 |
| GD-23-192 | Interval | 11.00 | 24.05 | 13.05 | 0.43 | 1.68 | 0.01 | 0.01 | 0.03 | 0.47 |
| GD-25-317 | Interval | 515.00 | 525.00 | 10.00 | 0.58 | 0.76 | 0.00 | 0.00 | 0.04 | 0.61 |
| GD-25-303 | Interval | 485.00 | 493.00 | 8.00 | 0.73 | 0.24 | 0.00 | 0.00 | 0.02 | 0.74 |
| GD-25-331 | Interval | 100.00 | 112.00 | 12.00 | 0.40 | 3.68 | 0.01 | 0.01 | 0.03 | 0.48 |
| GD-23-201_RELOG-2026 | Interval | 25.00 | 32.00 | 7.00 | 0.75 | 0.70 | 0.00 | 0.00 | 0.04 | 0.78 |
| GD-24-260 | Interval | 481.96 | 491.00 | 9.04 | 0.51 | 1.70 | 0.01 | 0.04 | 0.09 | 0.57 |
| GD-23-184 | Interval | 530.00 | 539.00 | 9.00 | 0.50 | 1.52 | 0.01 | 0.02 | 0.16 | 0.57 |
| GD-25-382 | Interval | 44.94 | 51.00 | 6.06 | 0.78 | 1.65 | 0.01 | 0.01 | 0.02 | 0.83 |
| GD-25-317 | Interval | 483.90 | 494.00 | 10.10 | 0.45 | 0.71 | 0.00 | 0.01 | 0.03 | 0.47 |
| GD-22-104 | Interval | 126.50 | 134.00 | 7.50 | 0.53 | 3.58 | 0.01 | 0.10 | 0.04 | 0.63 |
| GD-25-301 | Interval | 550.05 | 561.00 | 10.95 | 0.40 | 0.47 | 0.01 | 0.01 | 0.03 | 0.43 |
| GD-25-303 | Interval | 506.00 | 509.00 | 3.00 | 1.36 | 6.36 | 0.01 | 0.08 | 0.08 | 1.51 |
| GD-24-248_RELOG-2026 | Interval | 588.00 | 597.97 | 9.97 | 0.42 | 1.11 | 0.01 | 0.01 | 0.02 | 0.45 |
| GD-25-311 | Interval | 474.00 | 481.00 | 7.00 | 0.50 | 0.56 | 0.00 | 0.01 | 0.02 | 0.52 |
| GD-25-337 | Interval | 92.30 | 98.34 | 6.04 | 0.52 | 1.18 | 0.01 | 0.01 | 0.02 | 0.56 |
| GD-25-319 | Interval | 502.00 | 507.00 | 5.00 | 0.53 | 0.85 | 0.00 | 0.00 | 0.02 | 0.55 |
| GD-24-237 | Interval | 513.00 | 516.00 | 3.00 | 0.74 | 3.15 | 0.02 | 0.01 | 0.10 | 0.84 |
| GD-25-382 | Interval | 36.00 | 40.00 | 4.00 | 0.58 | 0.45 | 0.01 | 0.00 | 0.01 | 0.59 |
| GD-25-303 | Interval | 496.00 | 502.00 | 6.00 | 0.27 | 0.31 | 0.00 | 0.00 | 0.04 | 0.29 |
| GD-23-182 | Interval | 45.00 | 50.00 | 5.00 | 0.26 | 1.53 | 0.00 | 0.01 | 0.03 | 0.30 |
| GD-23-182 | Interval | 29.87 | 35.00 | 5.13 | 0.23 | 0.62 | 0.00 | 0.00 | 0.02 | 0.25 |
Table 2: Collar information for drill holes reported in this news release and previously reported (2022 – 2026 https://goliathresourcesltd.com/news-releases/).
| Hole ID | CRS | Easting (m) | Northing (m) | Elevation (m) | Azi (deg) | Dip (deg) | Length (m) |
| GD-22-49 | NAD83 / UTM zone 9N | 457963 | 6162404 | 1103 | 240 | 55 | 182 |
| GD-22-92 | NAD83 / UTM zone 9N | 457703 | 6162435 | 1132 | 100 | 65 | 216 |
| GD-22-95 | NAD83 / UTM zone 9N | 457701 | 6162434 | 1132 | 140 | 65 | 231 |
| GD-22-99 | NAD83 / UTM zone 9N | 457701 | 6162434 | 1132 | 180 | 65 | 243 |
| GD-22-102 | NAD83 / UTM zone 9N | 457699 | 6162437 | 1133 | 230 | 65 | 214 |
| GD-22-104 | NAD83 / UTM zone 9N | 457701 | 6162438 | 1132 | 320 | 65 | 210 |
| GD-23-137 | NAD83 / UTM zone 9N | 457853 | 6162418 | 1093 | 30 | 60 | 127 |
| GD-23-142 | NAD83 / UTM zone 9N | 457850 | 6162415 | 1093 | 250 | 60 | 169 |
| GD-23-162 | NAD83 / UTM zone 9N | 457884 | 6162300 | 1060 | 215 | 50 | 103 |
| GD-23-182 | NAD83 / UTM zone 9N | 457595 | 6162377 | 1118 | 20 | 60 | 662 |
| GD-23-184 | NAD83 / UTM zone 9N | 457453 | 6162784 | 1513 | 160 | 50 | 595 |
| GD-23-192 | NAD83 / UTM zone 9N | 457594 | 6162376 | 1118 | 355 | 50 | 332 |
| GD-23-198 | NAD83 / UTM zone 9N | 457592 | 6162374 | 1117 | 285 | 65 | 269 |
| GD-23-201 | NAD83 / UTM zone 9N | 457592 | 6162374 | 1117 | 285 | 85 | 239 |
| GD-23-219 | NAD83 / UTM zone 9N | 457149 | 6162501 | 1320 | 95 | 50 | 429 |
| GD-24-237 | NAD83 / UTM zone 9N | 457445 | 6162777 | 1511 | 140 | 70 | 848 |
| GD-24-248 | NAD83 / UTM zone 9N | 457446 | 6162778 | 1513 | 120 | 53 | 681 |
| GD-24-260 | NAD83 / UTM zone 9N | 457364 | 6162753 | 1503 | 165 | 55 | 619 |
| GD-24-264 | NAD83 / UTM zone 9N | 457698 | 6162438 | 1133 | 270 | 77 | 1013 |
| GD-24-268 | NAD83 / UTM zone 9N | 457364 | 6162757 | 1506 | 145 | 58 | 591 |
| GD-24-277 | NAD83 / UTM zone 9N | 457701 | 6162440 | 1133 | 0 | 76 | 990 |
| GD-24-283 | NAD83 / UTM zone 9N | 457363 | 6162756 | 1506 | 135 | 55 | 650 |
| GD-24-287 | NAD83 / UTM zone 9N | 457702 | 6162437 | 1132 | 80 | 75 | 331 |
| GD-24-291 | NAD83 / UTM zone 9N | 457702 | 6162436 | 1132 | 120 | 65 | 378 |
| GD-24-294 | NAD83 / UTM zone 9N | 457363 | 6162757 | 1505 | 163 | 60.15 | 656 |
| GD-25-301 | NAD83 / UTM zone 9N | 457445 | 6162773 | 1513 | 168 | 58 | 702 |
| GD-25-302 | NAD83 / UTM zone 9N | 457814 | 6162506 | 1144 | 195 | 69 | 1635 |
| GD-25-303 | NAD83 / UTM zone 9N | 457364 | 6162754 | 1508 | 157 | 61 | 676 |
| GD-25-305 | NAD83 / UTM zone 9N | 457447 | 6162774 | 1513 | 155 | 54 | 687 |
| GD-25-308 | NAD83 / UTM zone 9N | 457364 | 6162756 | 1509 | 160 | 67 | 705 |
| GD-25-311 | NAD83 / UTM zone 9N | 457446 | 6162775 | 1514 | 143 | 65 | 810 |
| GD-25-314 | NAD83 / UTM zone 9N | 457018 | 6162591 | 1387 | 80 | 70 | 593 |
| GD-25-317 | NAD83 / UTM zone 9N | 457447 | 6162777 | 1515 | 129.5 | 67 | 717 |
| GD-25-319 | NAD83 / UTM zone 9N | 457365 | 6162754 | 1505 | 141 | 62 | 629 |
| GD-25-331 | NAD83 / UTM zone 9N | 457815 | 6162506 | 1144 | 194 | 83 | 360 |
| GD-25-337 | NAD83 / UTM zone 9N | 457813 | 6162507 | 1145 | 243.5 | 62 | 370 |
| GD-25-343 | NAD83 / UTM zone 9N | 457236 | 6162739 | 1490 | 138 | 50 | 660 |
| GD-25-382 | NAD83 / UTM zone 9N | 457591 | 6162372 | 1119 | 215 | 45 | 160 |
| GD-25-394 | NAD83 / UTM zone 9N | 457594 | 6162372 | 1119 | 168 | 55 | 345 |
| GD-25-400 | NAD83 / UTM zone 9N | 457598 | 6162374 | 1119 | 147 | 83 | 309 |
| GD-26-417 | NAD83 / UTM zone 9N | 457178 | 6161738 | 936 | 90.5 | 48 | 357 |
| GD-26-425 | NAD83 / UTM zone 9N | 456762 | 6162467 | 1402 | 110 | 68 | 459 |
Surebet Discovery Highlights
- 100% of the drill holes completed prior to the 2026 drill season have intersected gold mineralization, clearly demonstrating remarkable grade continuity and widths, with over 1,500 diamond drill hole intercepts (pierce points); ~77% have 25 – 50 meter spacings.
- The most recent ore mineralization model incorporating all available data prior to the 2026 drill program identified five (5) stacked gold-mineralized vein systems/zones: Bonanza, Surebet, Golden Gate, Whopper, and Eldorado. Collectively these zones comprise 46 gold-rich lodes/veins and multiple subvertical Eocene-aged dyke swarms (see Table 3 and Figure 6).
Table 3: Five main modelled gold rich zones and dykes.
| Zone | Number of lodes/veins |
Dimensions | Key Intercept | Status | |
| Bonanza | 5 | 1.8 km x 1.8 km x 19 m | 8.35 g/t AuEq over 23 m | Remains Open | |
| Surebet | 9 | 1.2 km x 1.0 km x 19 m | 21.08 g/t AuEq over 23 m | Remains Open | |
| Golden Gate | 18 | 1.6 km x 1.5 km x 14 m | 34.52 g/t AuEq over 39 m | Remains Open | |
| Whopper | 12 | 1.0 km x 1.0 km x 6 m | 32.67 g/t AuEq over 4 m | Remains Open | |
| Eldorado | 2 | 1.0 km x 900 m x 5 m | 13.93 g/t AuEq over 5.75 m | Remains Open | |
| Gold-rich dykes | 1.4 km x 890 m x 25 m | 12.03 g/t AuEq over 10 m | Remains Open | ||
|
|||||
- 92% of the holes (355 out of 386) drilled prior to the 2026 drill season at Surebet contain VG-NE and 100% of holes drilled to date at the Surebet Discovery have intersected quartz-sulphide mineralization. See news releases dated: July 7, 2025, June 23, 2025, January 7, 2025, January 13, 2025, February 10, 2025, February 18, 2025, February 27, 2025, December 12, 2024, July 30, 2024, January 20, 2026, December 2, 2025, November 17, 2025, October 27, 2025, September 22, 2025, September 8, 2025, August 26, 2025, and July 28, 2025 (see Figure 7).
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/898eb5f3-7290-49f8-9637-5d8f60394932
- High-grade gold has been identified in three distinctive rock types, including: quartz-sulphide breccias and stockwork veins hosted in the sedimentary units; precious and base metals bearing veins hosted in the volcanic units; and intermediate to felsic Eocene-aged dykes. All mineralized rock types contain substantial amounts of VG-NE (from fine-grained to coarse-grained gold) and remain open for expansion.
- Metallurgical testing conducted on a composite core sample resulted in metal recoveries of 92.2% for Au, 86.5% for Ag, 94.2% for Pb and 96.9% for Zn achieved through a combination of simple gravity and flotation circuits. The gravity-only recoveries amount to 48.8% Au and 10.3% Ag with a crush size of 327 micrometer (no cyanide leaching required to recover the gold and silver). The metallurgical testing completed to date shows a benign rock composition without deleterious elements (see news release March 1, 2023).
- The consistent continuity, widths and grade of ore mineralization demonstrated by >156,000 meters of drilling in multiple stacked lodes/veins confirms that the 2.01 km2 Surebet Discovery continues to demonstrate strong potential to become one of the most significant high-grade gold discoveries in British Columbia’s Golden Triangle in many years.
- The best hole drilled to date from the gold-rich stacked quartz-sulphide breccias and stockwork veins hosted in the sedimentary units is GD-23-157 that assayed 21.08 g/t AuEq (18.95 g/t Au and 95.31 g/t Ag) over 23.00 meters, including 33.75 g/t AuEq (30.39 g/t Au and 150.42 g/t Ag) over 14.00 meters, including 50.27 g/t AuEq (45.27 g/t Au and 225.42 g/t Ag) over 9.00 meters (see news release dated August 15, 2023). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below.
- The best hole drilled to date from the precious and base metals bearing veins hosted in the volcanic units is GD-24-260 from the Golden Gate Zone that assayed 34.52 g/t AuEq (34.47 Au and 3.96 Ag) over 39.00 meters, including 132.93 g/t AuEq (132.78 Au and 12.98 Ag) over 10.00 meters, and 166.04 g/t AuEq (165.84 Au and 16.07 Ag) over 8.00 meters (see news release dated January 13, 2025). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below.
- The best hole drilled to date from the Eocene-aged dykes is GD-22-58 that assayed 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters including 19.91 g/t AuEq (19.62 g/t Au and 25.61 g/t Ag) over 6.00 meters, including 23.82 g/t AuEq (23.47 g/t Au and 30.54 g/t Ag) over 5.00 meters, plus a second separate interval down hole of 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters (see news release dated March 13, 2025). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below.
- A study completed by the Colorado School of Mines confirms a new interpretation of the ore forming process at Surebet and suggests a common magmatic source for the high-grade gold system hosted in three distinct rock types. Until this study, researchers and explorers in the Golden Triangle had not recognized the high-grade gold discovery potential in the Eocene-aged dykes (see news release March 13, 2025), which is showing the potential that these discoveries could be a geological breakthrough in the Golden Triangle of British Columbia.
- Based on positive grassroots exploration and drill results in recent years, Goliath significantly increased its land package from 66,608 hectares to 91,518 hectares (226,146 acres) and now controls 56 kilometers of the Red Line geologic trend providing for additional discovery potential.
- The Golddigger Property is located adjacent to tidewater with a barge route to Prince Rupert (190 km south) and close to existing infrastructure including the town of Kitsault proximal to a permitted mine site on private property.
About Golddigger Property
The Golddigger Property is 100% owned and covers an area of 91,518 hectares in a highly prospective geological setting of the Eskay Rift, within 3 kilometers of the Red Line in the Golden Triangle of British Columbia. This area has hosted some of Canada’s greatest gold mines including Eskay Creek, Premier and Snip. Other significant and well-known deposits in the Golden Triangle include Brucejack, Copper Canyon, Galore Creek, Granduc, KSM, Red Chris, and Schaft Creek. Goliath controls 56 kilometers of the Red Line which is a geologic contact between Triassic age Stuhini rocks and Jurassic age Hazelton rocks used as key markers when exploring for gold-copper-silver mineralization.
The Surebet discovery has shown predictable continuity and good metallurgy with gold recoveries of 92.2% from gravity and flotation at a 327-micrometer crush, including 48.8% recovery of free gold from gravity alone (no cyanide required to recover the gold). The metallurgical testing completed to date shows no presence of deleterious elements (see news release dated March 1, 2023).
The Property is in a well positioned 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 adjacent to 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 of British Columbia and houses an international container seaport also with direct access to railway and an airport.
Qualified Person
Mr. Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath Resources Limited projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release. Mr. Turna is an Independent Director of the Company.
About CASERM (Center to Advance the Science of Exploration to Reclamation in Mining)
Goliath Resources is a paying member and active supporter of the Center to Advance the Science of Exploration to Reclamation in Mining (CASERM), which is one of the world’s largest research centers in the mining sector. CASERM is a collaborative research venture between Colorado School of Mines and Virginia Tech that is supported by a consortium of mining and exploration companies, analytical instrumentation and software companies, and federal agencies aiming to transform the way geoscience data is acquired and used across the mining value chain. The center forms part of the I-UCRC program of the National Science Foundation. Research focuses on the integration of diverse geoscience data to improve decision making across the mine life cycle, beginning with the exploration for subsurface resources continuing through mine operation as well as closure and environmental remediation. Over the past three years, Goliath Resources’ membership in CASERM has allowed a high level of research to be performed on the Surebet Discovery.
About Goliath Resources Limited
Goliath Resources is an explorer of precious metals projects in the highly prospective Golden Triangle of Northwestern British Columbia. All of its projects are in high-quality geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. In 2025, Goliath completed its largest drill campaign to date for a total of 64,364 meters. It is fully funded for a similar sized drill program in 2026. The Company’s key strategic cornerstone shareholders include Crescat Capital, a Global Commodity Group (Singapore), McEwen Inc. (NYSE: MUX) (TSX: MUX), Waratah Capital Advisors, Rob McEwen, Eric Sprott and Larry Childress.
For more information please contact:
Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1.416.488.2887
roger@goliathresources.com
www.goliathresourcesltd.com
Disclaimer
The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.
Quality Assurance / Quality Control (QA/QC) Protocol
Core Samples Handling & Sampling
Oriented HQ-diameter or NQ-diameter diamond drill core from the drill program is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX DepositTM data management software. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration is selectively sampled in lengths of 0.5 to 1.5 meters. Samples are selected from continuous intervals of mineralization and/or other relevant geological features, including shoulder samples that extend for 3 meters into adjacent unmineralized and/or unaltered country rock. Along barren core intervals devoid of mineralization or significant geological features, one 1 meter sample is collected every ten meters. Core samples are cut lengthwise in half: one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. The bagged samples are then weighed and secured with a zip tie. Certified reference materials (CRMs), blanks and duplicates are added in the sample stream at a rate of 10%. To ensure analytical anonymity, CRM identification labels are removed prior to submission to the laboratory. Additional out-of-sequence blanks are introduced immediately following core samples that contain visible gold to the naked eye (VG-NE) or visibly high-grade sulphide mineralization.
Surface Samples Handling & Sampling
Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate samples weighing anywhere between 0.5 and 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample site locations were recorded using handheld GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples are then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, certified reference materials, and duplicate samples are inserted regularly into the sample sequence at a rate of 10%.
Sample Analysis
All samples are transported in rice bags sealed with numbered security tags. The rice bags are transported from the core shacks to the MSALABS facilities in Terrace, BC. MSALABS is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. The core samples undergo preparation via drying, crushing to ~70% of the material passing a 2 mm sieve and riffle splitting. The sample splits are weighed and transferred into plastic jars, each containing between 300 g and 500 g of crushed sample material. A 250 g split is pulverized to ensure at least 85% of the material passes through a 75 µm sieve. The crushed samples are transported to the MSALABS PhotonAssayTM facility in Prince George, where gold concentrations are quantified via photon assay analysis (method CPA-Au1). Samples that result in gold concentrations ≥5 ppm are analyzed to extinction. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, inducing the emission of secondary gamma rays, which are measured to quantify gold concentrations. The assays from all jars are combined on a weight-averaged basis. Multielement analyses are carried out at the MSALABS facilities in Surrey, BC, where 250 g of pulverized splits are analyzed via IMS-230 and ICF6xx methods. The IMS-230 method uses 4-acid digestion (a combination of hydrochloric, nitric, perchloric and hydrofluoric acids) followed by inductively coupled plasma emission spectrometry to quantify concentrations of 48 elements. Samples with over-limit results for Ag, Cu, Pb and Zn undergo ore-grade analysis via the ICF-6xx method (where ‘xx’ denotes the target metal). This method employs 4-acid digestion followed by inductively coupled plasma emission spectrometry.
Gold Equivalent (AuEq) Calculation
Gold Equivalent (AuEq) values are provided for comparative purposes only and do not include metal recovery factors given that known metallurgical recoveries are only based on preliminary test work and may not be representative of all mineralization styles or zones. Gold Equivalent (AuEq) metal values are calculated using: 4,222.08 Au USD/oz, Ag 67.76 USD/oz, Cu 6.43 USD/lbs, Pb 1,967.13 USD/ton and Zn 3,578.25 USD/ton (updated on August 4, 2026) using the formula below
- A calculation is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/39ab487b-2f2e-431f-a509-9b78b68e4208
There is potential for economic recovery of gold, silver, copper, lead, and zinc based on other mining and exploration projects in the same Golden Triangle Mining Camp where Goliath’s project is located, such as the Homestake Ridge Gold Project (Auryn Resources Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project, prepared by Minefill Services Inc. Bothell, Washington, dated May 29, 2020). Here, AuEq values were calculated using 3-year running averages for metal price, and included provisions for metallurgical recoveries, treatment charges, refining costs, and transportation. Recoveries for Gold were 85.5%, Silver at 74.6%, Copper at 74.6% and Lead at 45.3%. It will be assumed that Zinc can be recovered with Copper at the same recovery rate of 74.6%. The quoted reference of metallurgical recoveries is not from Goliath’s Golddigger Project, Surebet Zone mineralization, and there is no guarantee that such recoveries will ever be achieved, unless detailed metallurgical work such as in a Feasibility Study can be eventually completed on the Golddigger Project.
Reported Drill Intervals and Assays
Drill core intervals are reported as drill lengths, where the true width is estimated to be 80-90% of the length. The widths of the mineralized intervals were defined to reflect both the assay results and the mineralized veining observed in drill core. Veining constrains the local width of the mineralized zone, while assay results define the grade distribution within that zone. Reported intervals are therefore intended to represent geologically meaningful zone widths at the point of intersection.
The reported assays of drill intervals were calculated as length-weighted average grades using the individual sample assay results and their corresponding sample lengths. The average grade for each interval was determined by dividing the sum of the products of each sample grade and sample length by the total sampled interval length (Σ[grade × sample length] / Σ[sample length]). This method accounts for variations in sample length and provides a representative average grade over the reported interval.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of the Company to complete financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.
The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.
The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
