Figure 1

Surebet Zone cross section including GD-26-483 and GD-26-474.

Figure 2

Highlights of GD-26-483.

Figure 3

Big Bulk Zones – plan view including GD-26-440.

Figure 4a

VG-NE

Figure 4b

VG-NE

Figure 4c

VG-NE

Figure 4d

VG-NE

Figure 4e

VG-NE

Figure 4f

VG-NE

Figure 4g

VG-NE

Figure 5

Plan view of VG-NE distribution

Figure 6

Bonanza Zone – plan view expansion map

Figure 7

Golden Gate Zone – plan view expansion map

Figure 8

Big Bulk Zone – cross section of central core zone

Figure 9

Cross section conceptual view of mineralized wedge in Big Bulk Zones

Figure 10

Plan view of infill and expansion pads for 2027

Figure 11

Isometric View of the Surebet Discovery Ore Mineralization Model

  • Assay results confirm grade continuity across all major mineralized zones at the Surebet High-Grade Gold Discovery that demonstrates predictability of the mineralization model as the system was expanded by more than 1 km along the NE–SW trend and by 100 meters to the north as well as west resulting in a total footprint of the Surebet System increasing to 2.01 Km2. Assays are still pending for 55 holes drilled in 2026.
  • Surebet Zone – Drill hole GD-26-483 intersected 9.89 g/t AuEq over 12.00 meters, including 28.81 g/t AuEq over 4 meters consisting of pyrrhotite-galena-sphalerite rich quartz breccia associated with abundant Visible Gold to the Naked Eye (VG-NE), confirming continuity and high-grade nature of the Surebet Zone; see Figures 1., 2. and Table 1.
  • Multiple drill holes confirm the strong continuity and high-grade nature of all 6 mineralized zones within the Surebet System. Highlights include:
    • Surebet Zone – Drill hole GD-26-474 intersected 9.74 g/t AuEq (9.47 g/t Au and 50.18 g/t Ag) over 6.23 meters, including 13.88 g/t AuEq (13.51 g/t Au and 70.71 g/t Ag) over 4.26 meters from an interval of quartz-sulphide veining and breccia; see Figure 1 and Table 1.
    • Eldorado Zone – Drill hole GD-26-431 intersected 4.21 g/t AuEq (4.53 g/t Au and 1.48 g/t Ag) over 7.90 meters, including 5.41 g/t AuEq (5.83 g/t Au and 1.43 g/t Ag) over 5.95 meters from an interval of quartz-sulphide veining and widespread biotite alteration part of the that remains open; see Table 1.
    • Multiple Zones – Drill hole GD-26-467 intersected 2.65 g/t AuEq (2.75 g/t Au and 4.90 g/t Ag) over 11.72 meters, including 6.38 g/t AuEq (6.69 g/t Au and 8.40 g/t Ag) over 4.64 meters from an interval spanning sheared quartz breccia part of the Bonanza Zone, distributed veinlets of the Big Bulk Zone, and quartz-sulphide veining part of the Golden Gate Zone that remain open; see Table 1.
  • With 48,443 meters drilled in 97 holes utilizing 7 drill rigs turning 24 hours a day for 94 days, the 2026 drill program on the Surebet Discovery has exceeded expectations with multiple successful large step-out drill holes, maintaining 100% hit rate intersecting quartz-sulphide mineralization, and with abundant occurrences of VG-NE; see Figures 4a – g.
  • Over 200,000 meters have been drilled to date at the high-grade Surebet Gold Discovery, where 412 holes out of 483 (85%) contain VG-NE that clearly demonstrates the continuity and predictability of this expansive gold-rich system that remains open; see Figure 5.
  • The total footprint of the Surebet system has been expanded to 2.01 km2, which represents a 12% increase compared to 1.8 km2 defined prior to the 2026 drilling season; see news August 24, 2026.
    • Bonanza Zone – drilling in 2026 successfully expanded the From 1.27 km2 to 1.51 km2. It intersected mineralization in multiple step-out drill holes, resulting in the expansion of the Bonanza Zone by 750 meters to the southwest, 100 meters to the west, 100 meters to the north and 160 meters to the northeast side of the Surebet system and still remains open for expansion; see Figure 6.
    • Golden Gate Zone – drilling in 2026 successfully expanded the from 0.85 km2 To 1.17 km2. It intersected mineralization in multiple step-out drill holes, resulting in the expansion of the Golden Gate Zone by 480 meters to the northeastern side and 540 meters to the southwestern side of the Surebet system; see Figure 7.
  • Big Bulk Zones – Goliath’s 2026 drilling successfully identified the newly defined and extensive mineralized areas containing VG-NE that span the volume between the Bonanza and Golden Gate zones near the location where the structures join, extending up to 310 meters in length, 500 meters laterally, and 110 meters vertically. This new zone consists of numerous mineralized stacked veinlets forming broad intervals up to 58 meters wide and hosted in the volcanics with grades up to 3.60 AuEq, potentially amenable to low-cost bulk mining methods; see Figures 3, 8 and 9.
  • High-grade gold has been identified in 7 zones and in three distinct 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 of which contain substantial amounts of VG-NE (from fine-grained to coarse-grained gold) and remain wide open for expansion. This supports the presence of a Motherlode magmatic source at depth (a thesis developed from the work at the Colorado School of Mines), a causative intrusion responsible for the extensive 2.01 km2 high-grade gold system at the Surebet Discovery.
  • 2027 planned expansion and infill drilling areas; see Figure 10.
  • The Surebet Discovery has widespread drill holes representing more than 1,500 pierce points (2021-2025) with a vast majority having tight spacings of 25 – 50 meters.
  • The Surebet Discovery is a grassroots project that has evolved from the idea of exploring prospective untouched ground in an area recently exposed by glacial retreat and permanent snowpack abatement, to a mineralizing system consisting of 46 stacked gold-rich veins defined through over 200,000 meters of drilling, in a total of 21 months of work on the ground.

TORONTO, Oct. 07, 2026 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report several assays from its 2026 drill program where drill hole GD-26-483 intersected 9.89 g/t AuEq over 12.00 meters at the Surebet Discovery on its 100% owned Golddigger Property (the “Property”), Golden Triangle, British Columbia. Recent assay results confirm grade continuity across all major mineralized zones at the Surebet Gold Discovery and demonstrate the predictability of the mineralization model as the system was expanded by more than 1 km along the NE–SW trend by 100 meters to the north and west resulting in a total footprint of the Surebet System of 2.01 Km2. 100% of the drill holes completed to date on Surebet have intersected quartz-sulphide mineralization, where 412 drill holes out of 483 (or 85%) contain VG-NE, clearly demonstrating continuity and predictability of the Surebet System as well as the untapped discovery potential remaining on the property. Assays are still pending for 55 holes drilled in 2026.

Mr. Roger Rosmus, Founder & CEO of Goliath states: “Every season at Surebet delivers positive surprises. What began as a 2 kilometer surface outcrop has expanded into a remarkably continuous, high-grade gold system across stacked veins and multiple rock units within the last few years, featuring visible gold in 85% of our 483 drill holes. Our 2026 drill program, with up to 750 meters of expansion through step out holes, demonstrates rare structural predictability, proving the mineralization remains coherent throughout. Our team sees host rocks extending over a large area, suggesting we are nowhere close to the extent of the system. Additionally, newly identified broad, lower-grade zones between our high-grade Bonanza and Golden Gate zones called Big Bulk zones open compelling potential for underground bulk mining. The Surebet Discovery continues to show strong potential to become one of the most significant high-grade gold discoveries in British Columbia’s Golden Triangle in many years. We look forward to releasing additional assays from 55 holes that are still pending from our 2026 drill program.”

The 2026 drill program continues to deliver remarkable results highlighted by drill hole GD-26-483, which intersected 9.89 g/t AuEq over 12.00 meters, including 33.17 g/t Au over 2.85 meters within a pyrrhotite-galena-sphalerite rich quartz breccia associated with abundant VG-NE part the Surebet Zone. Additionally, complete multi-element assays reported for numerous drill holes confirm strong continuity across all seven mineralized zones within the system.

Highlights include: drill hole GD-26-440, which intersected the Big Bulk Zone with 24.97 meters of 0.70 g/t AuEq; drill hole GD-26-474 in the Surebet Zone intersected 9.74 g/t AuEq over 6.23 meters, including 13.88 g/t AuEq over 4.26; drill hole GD-26-431 in the Eldorado Zone intersected 4.21 g/t AuEq over 7.90 meters, including 5.41 g/t AuEq over 5.95 meters; and drill hole GD-26-467 spanning the Bonanza, Big Bulk, and Golden Gate Zones, which intersected 2.65 g/t AuEq over 11.72 meters, including 6.38 g/t AuEq over 4.64 meters and 28.21 g/t AuEq over 1.02 meters. All 2026 drill holes to date have intersected quartz-sulphide mineralization.

The 2026 drill program achieved unprecedented scale and success, completing 48,443 meters across 97 holes using 7 drill rigs operating 24 hours a day for 94 days. The program maintained a 100% hit rate intersecting quartz-sulphide mineralization and abundant occurrences of VG-NE. To date, over 200,000 meters have been drilled at Surebet across 483 holes, of which 85% contain VG-NE. As a result of multiple successful step-out drill holes, the total footprint of the Surebet system has been expanded to 2.01 Km2, representing a 12% increase from the 1.8 Km2 defined prior to the season. Specifically, the Bonanza Zone expanded from 1.27 to 1.51 Km2 growing 750 meters to the southwest, 100 meters west, 100 meters north, and 160 meters northeast, while the Golden Gate Zone expanded from 0.85 to 1.17 Km2, growing 480 meters to the northeast and 540 meters to the southwest.

Furthermore, the 2026 campaign successfully identified the Big Bulk Zone, a newly discovered mineralized area containing visible gold spanning the region between the Bonanza and Golden Gate Zones where the structures converge. The central part of the Big Bulk Zone extends for 310 meters in length, 500 meters laterally, and 110 meters vertically. Individual mineralized intervals in this zone consist of numerous stacked mineralized veinlets spanning up to 58 meters hosted within volcanics with grades up to 3.60 g/t AuEq, presenting strong potential to be amenable to low-cost bulk mining methods.

High-grade gold has been identified in 7 zones and in three distinct 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 and remain open for expansion. These findings suggest the presence of a large-scale, multi-phased high-grade gold mineralizing event driven by a Motherlode causative intrusion responsible for the extensive 2.01 km2 high-grade gold system at Surebet Discovery that remains open.

In just 21 months of on-the-ground work, the Surebet Discovery has advanced from a grassroots showing on virgin ground exposed by glacial retreat and permanent snowpack abatement, to an extensive high-grade gold mineralizing system with significant potential. The project now consists of 46 identified stacked gold-rich veins defined by over 200,000 meters of total drilling. The system's scale continues to get larger with every drill program, with over 1,500 pierce points with a vast majority 25 – 50 meter spacing (2021 – 2025) distributed across an area of 2.01 km².

The Company is actively updating its high-grade gold wireframe models as assay results are received. Once all data from the 2026 program has been received, compiled, and modelled, a comprehensive drill plan for the 2027 season will be designed.

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 2021 – 2025); ~77% have 25 – 50 meter spacings. Demonstrating the geological team has a great understanding of the system and its predictability.
  • The consistent continuity, widths and grade of ore mineralization demonstrated by >200,000 meters of drilling in multiple stacked lodes/veins confirms that the 2.01 km2 Surebet Discovery has strong potential to become one of the most significant high-grade gold discoveries in British Columbia’s Golden Triangle in many years.
  • The most recent ore mineralization model incorporating all available data prior to the 2026 drill program identified 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 isometric view in Figure 11 below). A good analogy to the Surebet Discovery is the Pogo Mine in Alaska.

Table 1: Gold Equivalent (AuEq) assay results.

Pad ID Hole ID   From(m) To (m) Interval(m) Au (g/t) Ag (g/t) Cu % Pb % Zn % AuEq(g/t) Zone
Pad10 GD-26-483 Interval 265.00 277.00 12.00 7.90 138.61 0.34 0.22 1.16 9.89 Surebet
Including 269.00 273.00 4.00 23.66 399.83 1.03 0.63 1.23 28.81
Including 269.85 271.85 2.00 46.78 791.80 2.07 1.25 0.00 56.39
Including 269.85 270.97 1.12 67.01 519.00 1.42 1.41 0.00 70.62
Pad10 GD-26-474 Interval 281.37 287.60 6.23 9.47 50.18 0.03 0.71 0.77 9.74 Surebet
Including 282.42 286.68 4.26 13.51 70.71 0.03 1.01 1.07 13.88
Including 282.42 283.44 1.02 44.10 147.00 0.04 2.43 1.86 43.54
PAD04 GD-26-431 Interval 229.00 240.90 11.90 3.07 1.43 0.01 0.01 0.03 2.87 Eldorado
Including 233.00 240.90 7.90 4.53 1.48 0.01 0.01 0.03 4.21
Including 234.95 240.90 5.95 5.83 1.43 0.00 0.02 0.04 5.41
Including 238.00 240.90 2.90 11.42 1.54 0.00 0.03 0.02 10.56
Including 238.00 239.00 1.00 25.05 2.89 0.01 0.02 0.03 23.15
Pad13 GD-26-467 Interval 406.10 417.82 11.72 2.75 4.90 0.01 0.04 0.16 2.65 Bonanza -Big Bulk -Golden Gate
Including 413.18 417.82 4.64 6.69 8.40 0.01 0.10 0.26 6.38
Including 416.80 417.82 1.02 29.99 24.95 0.03 0.38 0.52 28.21
Pad07 GD-26-485 Interval 649.20 653.00 3.80 8.46 36.19 0.06 0.35 1.15 8.71 Golden Gate
Including 650.35 652.10 1.75 18.19 77.43 0.12 0.75 2.48 18.71
Pad19 GD-26-481 Interval 340.00 346.00 6.00 4.30 7.89 0.01 0.11 0.27 4.17 Bonanza
Including 341.00 342.00 1.00 24.81 28.60 0.02 0.41 1.11 23.63
Pad19 GD-26-466 Interval 508.33 512.82 4.49 4.18 20.64 0.05 0.12 1.45 4.58 Golden Gate
Including 508.33 509.77 1.44 12.41 59.08 0.14 0.33 4.25 13.54
Pad07 GD-26-463 Interval 529.70 539.00 9.30 2.06 8.57 0.02 0.20 0.20 2.12 Golden Gate
Including 529.70 533.00 3.30 3.72 18.34 0.04 0.48 0.41 3.90
Including 536.00 539.00 3.00 2.19 4.65 0.01 0.07 0.14 2.14
Pad04 GD-26-440 Interval 402.13 427.10 24.97 0.66 3.85 0.01 0.02 0.10 0.70 Big Bulk
Including 403.00 410.05 7.05 1.07 5.25 0.01 0.03 0.06 1.09
Pad16 GD-26-468 Interval 554.00 556.99 2.99 4.63 30.05 0.07 0.24 0.49 4.91 Golden Gate
Including 555.04 556.04 1.00 13.71 88.51 0.19 0.71 1.32 14.49
Pad04 GD-26-440 Interval 374.15 399.12 24.97 0.53 2.56 0.01 0.02 0.10 0.56 Bonanza
Including 391.00 399.12 8.12 1.12 4.47 0.02 0.02 0.17 1.16
Pad07 GD-26-473 Interval 471.00 477.00 6.00 2.36 2.99 0.01 0.04 0.10 2.26 Bonanza
Including 471.00 475.00 4.00 3.30 2.52 0.01 0.03 0.11 3.13
Including 474.00 475.00 1.00 11.68 2.35 0.02 0.02 0.04 10.83
Pad25 GD-26-495 Interval 249.00 252.15 3.15 4.23 0.88 0.00 0.03 0.02 3.92 Golden Gate
Including 250.15 251.30 1.15 11.54 2.24 0.01 0.08 0.04 10.69
Pad19 GD-26-466 Interval 180.00 184.00 4.00 2.80 4.59 0.01 0.07 0.13 2.70 Eldorado
Including 180.00 181.00 1.00 10.65 14.38 0.01 0.24 0.36 10.16
Pad01 GD-26-448 Interval 491.00 495.00 4.00 2.33 10.20 0.03 0.12 0.76 2.53 Golden Gate
Including 492.15 494.07 1.92 4.78 20.34 0.07 0.24 1.56 5.18
Pad11 GD-26-469 Interval 274.30 280.04 5.74 1.33 12.00 0.02 0.13 0.09 1.45 Surebet
Including 274.30 278.17 3.87 1.88 15.89 0.02 0.18 0.11 2.02
Including 275.47 276.45 0.98 6.53 31.99 0.06 0.54 0.33 6.68
Pad07 GD-26-485 Interval 657.00 661.00 4.00 1.93 12.44 0.02 0.20 0.31 2.08 Golden Gate
Including 657.00 659.00 2.00 3.74 24.26 0.05 0.40 0.59 4.04
Pad06 GD-26-459 Interval 827.02 831.00 3.98 1.66 13.90 0.01 0.04 0.44 1.85 Golden Gate
Including 827.02 828.02 1.00 5.42 41.98 0.02 0.07 1.59 6.02
Pad19 GD-26-466 Interval 195.00 201.00 6.00 1.08 13.13 0.01 0.32 0.30 1.31 EldoradoLower
Including 197.87 201.00 3.13 1.82 18.54 0.01 0.44 0.44 2.12
Pad06 GD-26-447 Interval 213.00 219.83 6.83 0.91 9.95 0.01 0.12 0.20 1.05 Surebet
Including 214.98 219.83 4.85 1.17 13.21 0.01 0.16 0.26 1.36
Including 214.98 216.00 1.02 3.70 36.70 0.03 0.35 0.38 4.09
Pad07 GD-26-473 Interval 628.10 631.25 3.15 1.77 7.03 0.07 0.04 1.52 2.19 Golden Gate
Including 629.25 630.40 1.15 4.63 16.73 0.18 0.07 4.09 5.74
Pad06 GD-26-447 Interval 26.00 29.00 3.00 2.40 1.72 0.00 0.01 0.01 2.24 Whopper
Including 27.00 28.00 1.00 7.16 3.69 0.00 0.01 0.02 6.66
Pad24 GD-26-492 Interval 222.00 225.70 3.70 1.45 6.90 0.02 0.18 1.11 1.76 Bonanza
Including 222.00 224.85 2.85 1.78 8.43 0.02 0.24 1.36 2.16
Pad07 GD-26-473 Interval 164.77 169.00 4.23 1.33 7.03 0.01 0.17 0.28 1.42 Whopper
Including 165.75 168.00 2.25 2.47 12.33 0.01 0.32 0.52 2.64
Pad17 GD-26-438 Interval 163.92 167.00 3.08 2.02 2.89 0.01 0.04 0.03 1.93 Eldorado
Including 164.80 166.08 1.28 4.80 5.32 0.01 0.08 0.05 4.54
Pad02 GD-26-413 Interval 464.00 468.00 4.00 1.50 5.27 0.01 0.00 0.01 1.47 Golden Gate
Including 465.00 467.00 2.00 2.93 7.77 0.01 0.00 0.01 2.82
Pad06 GD-26-432 Interval 251.00 252.00 1.00 5.90 0.35 0.00 0.00 0.01 5.44 Dyke
Pad05 GD-26-435 Interval 274.19 277.00 2.81 2.03 1.12 0.00 0.00 0.02 1.90 Bonanza
Pad17 GD-26-438 Interval 412.00 416.00 4.00 1.11 9.24 0.01 0.20 0.54 1.33 Surebet
Including 413.00 415.00 2.00 2.17 17.45 0.01 0.39 1.07 2.58
Pad15 GD-26-442 Interval 546.85 550.85 4.00 0.33 37.40 0.01 1.17 0.87 1.22 Bonanza
Including 547.85 548.85 1.00 0.48 114.00 0.01 3.64 2.93 3.28
Pad06 GD-26-439 Interval 188.80 192.35 3.55 0.76 31.46 0.01 0.38 0.50 1.32 Surebet
Including 189.80 191.35 1.55 1.72 70.09 0.01 0.87 1.12 2.98
Pad02 GD-26-422 Interval 242.00 246.00 4.00 1.25 0.90 0.00 0.00 0.01 1.17 Dyke
Pad07 GD-26-463 Interval 543.00 547.00 4.00 0.99 3.22 0.01 0.01 0.10 1.00 Golden Gate
Pad01 GD-26-414 Interval 492.80 495.90 3.10 1.30 2.31 0.01 0.02 0.05 1.26 Bonanza
Including 493.63 494.80 1.17 2.72 3.79 0.01 0.04 0.10 2.60
Pad23 GD-26-497 Interval 176.00 178.93 2.93 1.17 4.28 0.01 0.03 0.09 1.18 Bonanza
Including 177.00 178.00 1.00 3.38 8.88 0.02 0.06 0.23 3.33
Pad04 GD-26-446 Interval 513.00 516.20 3.20 0.70 4.99 0.01 0.06 0.32 0.82 Bonanza
Including 514.00 515.05 1.05 2.00 12.23 0.02 0.18 0.77 2.26
 

Table 2: Collar information for drill holes reported in this news release.

Hole ID CRS Easting (m) Northing (m) Elevation (m) Azimuth (deg) Dip (deg) Length(m)
GD-26-483 NAD83 / UTM zone 9N 457295 6163063 1699 30 73 301
GD-26-474 NAD83 / UTM zone 9N 457294 6163064 1699 79 5 649
GD-26-431 NAD83 / UTM zone 9N 456711 6162964 1630 40 85 489
GD-26-467 NAD83 / UTM zone 9N 457964 6162972 1403 240 80 513
GD-26-485 NAD83 / UTM zone 9N 457056 6163031 1659 161 63 723
GD-26-481 NAD83 / UTM zone 9N 456842 6162809 1564 112 58 673
GD-26-466 NAD83 / UTM zone 9N 456841 6162812 1565 42.2 69.1 659
GD-26-463 NAD83 / UTM zone 9N 457055 6163030 1659 180 73 726
GD-26-440 NAD83 / UTM zone 9N 456711 6162964 1631 40 85 471
GD-26-468 NAD83 / UTM zone 9N 457320 6162856 1584 222 80 651
GD-26-473 NAD83 / UTM zone 9N 457055 6163030 1659 180 59 750
GD-26-495 NAD83 / UTM zone 9N 458010 6162368 1094 245 82 309
GD-26-448 NAD83 / UTM zone 9N 457718 6162966 1489 170 75 522
GD-26-469 NAD83 / UTM zone 9N 457146 6163024 1673 150 85 525
GD-26-459 NAD83 / UTM zone 9N 457442 6163160 1708 175 75 855
GD-26-447 NAD83 / UTM zone 9N 457445 6163162 1708 80 65 462
GD-26-492 NAD83 / UTM zone 9N 457973 6162662 1177 343 45 302
GD-26-438 NAD83 / UTM zone 9N 456992 6163124 1670 330.1 47 472
GD-26-413 NAD83 / UTM zone 9N 457178 6161752 932 205.4 69.9 606
GD-26-432 NAD83 / UTM zone 9N 457441 6163165 1709 335 45 309
GD-26-435 NAD83 / UTM zone 9N 456773 6162468 1395 150 50 434
GD-26-442 NAD83 / UTM zone 9N 457189 6163130 1704 310 79 600
GD-26-439 NAD83 / UTM zone 9N 457444 6163164 1709 38 58 369
GD-26-422 NAD83 / UTM zone 9N 457182 6161754 932 103.2 47.1 426
GD-26-414 NAD83 / UTM zone 9N 457719 6162968 1490 115 81 578
GD-26-497 NAD83 / UTM zone 9N 457846 6162680 1209 260 70 345
GD-26-446 NAD83 / UTM zone 9N 456710 6162966 1631 0 47 558
 

Table 3: Five main modelled gold rich zones plus the dykes prior to the 2026 drilling, see isometric view in Figure 11 below.

Zone Number oflodes/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
  • 85% of the holes (412 out of 483) drilled to date at the Surebet Discovery contain VG-NE and 100% 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, July 28, 2025, July 15, 2026, August 6, 2026, August 10, 2026, August 11, 2026, August 21, 2026, August 24, 2026, August 31, 2026, September 10, 2026, September 16, 2026, September 18, 2026 and September 22, 2026; see Figure 5 above.
  • High-grade gold has been identified in 7 zones and in three distinct 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 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 Big Bulk Zone, previously reported as the volcanic wedge zone, is GD-24-291 that assayed 1.97 g/t AuEq (1.92 Au and 1.85 Ag) over 33 meters (see news release dated August 31, 2026). This zone is composed of 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. 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 now controls 91,518 hectares (226,146 acres), spanning 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 and controls 56km 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 favourable 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 program to date for a total of 64,364 meters and has recently completed a fully funded drill program in 2026 comprised of 48,443 meters; assays are pending for 55 holes. 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: +1.416.488.2887roger@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. Drill holes were planned using Leapfrog Geo™ and QGIS™ software and data from the 2017-2025 exploration programs. 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%.

Samples 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 incorporate metal recovery factors based on preliminary metallurgical testwork, which excluded copper. It was assumed that copper can be recovered with zinc at the same recovery rate. The recovery factors used in the AuEq calculations are: Gold 92.2%; Silver 86.5%; Copper 96.9%; Lead 94.2%; Zinc 96.9%. 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:

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 Golddiggers 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.

VANCOUVER, BC, Sept. 30, 2026 /PRNewswire/ — Canada News Group News Commentary – The global gold market was valued at US$291.68 billion in 2024 and is projected to reach US$400 billion by the end of 2030, a compound annual growth rate of 6.51% over 2025 to 2030, according to Virtue Market Research. How that growth gets financed is shifting, as producers and developers lean on streams, royalties, convertible bonds and gold-denominated loans alongside conventional equity and bank debt. Active Companies from around the markets with current developments this week include: Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K), Wheaton Precious Metals Corp. (NYSE: WPM), OR Royalties Inc. (NYSE: OR), Harmony Gold Mining Company Limited (NYSE: HMY), and Caledonia Mining Corporation Plc (NYSE American: CMCL).

The supply side helps explain why capital keeps chasing new ounces. GlobalData forecasts global gold production growing at a compound annual rate of just 0.9% to reach 141.6 million ounces by 2030, a slow build against demand that continues to be led by the official sector. Central banks bought a net 288.9 tonnes in the second quarter of 2026, a 62% year-over-year increase and the strongest second quarter on record, and gold-backed ETFs took in $18 billion in August, the second-largest monthly inflow on record, according to the World Gold Council.

Prices have been less cooperative in the short run. Benchmark gold slipped about 3% to roughly US$4,149 an ounce on Monday and is down about 6.6% over the past month as Treasury yields rose and rate-hike expectations built, though it remains around 8% higher year over year, according to Trading Economics. For developers, that kind of volatility tends to show up in financing terms before it shows up in cash flow, which is one reason structures that share metal-price exposure with the capital provider have gained ground.

Tanzania offers a live example of a gold economy scaling quickly. Gold exports rose 37.4% to US$5.67 billion in the year to July 2026, making up 47.4% of goods export earnings, according to the Bank of Tanzania, and newer projects in the Lake Victoria Goldfield sit alongside established operations such as Barrick's Bulyanhulu Mine and AngloGold Ashanti's Geita Gold Mine.

Lake Victoria Gold Initiates First Land Compensation Programme at Tembo Over the Ngula 1 Deposit, Following a Maiden NI 43-101 Resource Next to Bulyanhulu

  • Maiden NI 43-101 Mineral Resource Estimate at Tembo: Inferred 13.33 Mt at 1.12 g/t Au for 480,100 ounces and Indicated 2.69 Mt at 1.16 g/t Au for 99,700 ounces.
  • Higher-grade component at a 1.00 g/t cut-off of 331,700 Inferred ounces at 2.15 g/t and 68,600 Indicated ounces at 2.00 g/t.
  • First land access programme at Tembo covers 111.32 acres directly over the Ngula 1 deposit, with completion targeted for early October 2026.
  • Proposed toll-milling arrangement with Nyati Resources' 500-tonne-per-day plant advancing as a potential capital-efficient route to near-term production.
  • At the separate Imwelo Gold Project, a gold loan facility of up to 6,000 ounces of gold, approximately US$25 million, is structured to be repaid in gold.

Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) is a Vancouver-based gold exploration and development company focused on Tanzania's Lake Victoria Goldfield. It holds a 100% interest in the Tembo Project, adjacent to Barrick's Bulyanhulu Mine, and a 100% interest in the fully permitted Imwelo Gold Project, west of AngloGold Ashanti's Geita Gold Mine.

On August 11, the Company announced the maiden NI 43-101 Mineral Resource Estimate for Tembo, with an effective date of May 29, 2026. The estimate covers three near-surface deposits, Ngula 1, Nyakagwe Village and Nyakagwe East, reported within conceptual open-pit shells at a 0.25 g/t cut-off using a gold price of US$2,400/oz. It was prepared by independent Qualified Persons Noleen D. Pauls and Dean Richards of Obsidian Consulting Services.

Grade strengthens materially as the reporting cut-off rises. At 1.00 g/t, the estimate retains 4.79 Mt at 2.15 g/t for 331,700 Inferred ounces and 1.07 Mt at 2.00 g/t for 68,600 Indicated ounces, and at 1.50 g/t it holds 2.27 Mt at 3.18 g/t for 232,100 Inferred ounces. These sensitivity figures are subsets of the stated resource, not separate estimates. Ngula 1 hosts approximately 56% of the Inferred ounces and 63% of the Indicated ounces and is the focus of a planned close-spaced drilling program of approximately 4,000 to 5,000 metres on a 20 m by 20 m pattern.

The resource covers only three target areas on a 34 km² property where a 2020 integrated study by GoldSpot Discoveries Corp. identified and ranked 39 exploration targets, across four granted mining licences. Barrick's December 2021 acquisition of six of the Company's non-core licences, for US$6 million in cash plus up to US$45 million in ounce-based contingent payments, leaves LVG with continued exposure to that ground, although those payments depend on exploration and development success by Bulyanhulu Gold Mine Limited, which is outside the Company's control.

On September 16, the Company initiated the Phase 1 land valuation and compensation programme at Ngula Village, the first land access programme undertaken at Tembo. The programme covers 111.32 acres, 88.51 acres within the mining licence area of LVG's wholly owned Tanzanian subsidiary and 22.81 acres associated with primary mining licences held by Nyati Resources, and completion is targeted for early October 2026. The programme also supports the proposed toll-milling arrangement under which Nyati's 500-tonne-per-day processing plant would process material from Tembo, including Ngula 1, subject to confirmatory drilling, permitting, financing and the execution of a definitive agreement.

Marc Cernovitch, President and Chief Executive Officer of Lake Victoria Gold, commented: "We are taking the playbook that has worked at Imwelo and applying it at Tembo, starting at Ngula 1 because that is where our resource is concentrated and where our next phase of work is directed."

"There is no urgency forcing this. That is exactly the point. Doing land access properly, through the district authorities and the statutory valuation process, takes as long as it takes, and the way you avoid that becoming a problem is to start it early and run it transparently. We have the community and the district engaged from day one, and we intend to keep it that way."

Tembo runs as a second track alongside Imwelo, the Company's fully permitted near-term development priority, and the financing behind Imwelo reflects the broader shift in how developers are raising capital. LVG has announced a gold loan facility with Monetary Metals & Co. of up to 6,000 ounces of gold, approximately US$25 million, structured to be repaid in gold rather than cash, together with a convertible debenture financing that was later upsized to $5 million. On September 24, the Company also identified a preferred processing route for Imwelo's near-surface weathered material, with attrition scrubbing and desliming lifting 24-hour gold extraction on the pretreated fraction from 49.99% to 84.54% in agitated-leach testing.

There are several risks associated with the Company's plans. The Company has not completed a preliminary economic assessment, pre-feasibility study or feasibility study for Tembo, no Mineral Reserves have been estimated, and Mineral Resources do not have demonstrated economic viability. Inferred Mineral Resources carry a lower level of confidence, and it cannot be assumed that any part will be upgraded. The Nyati toll-milling arrangement is not yet a definitive agreement, land compensation timing depends on district authorities, and mineralization at Bulyanhulu is not necessarily indicative of mineralization at Tembo. At Imwelo, JORC-compliant studies are not current under NI 43-101 and any production decision would not be based on a feasibility study of mineral reserves. Financing remains subject to its terms and conditions. Readers should review the Company's filings under its profile on SEDAR+ at www.sedarplus.ca.

Read this and more news from this sector at: https://canadanewsgroup.com

In other industry developments and happenings in the market this week include:

Wheaton Precious Metals Corp. (NYSE: WPM) reported in its second quarter 2026 MD&A that, effective April 1, 2026, it receives a combined 67.5% of all silver produced from Antamina, up from the 33.75% delivered under the pre-existing Glencore silver stream, with the transaction funded in part through a new $1.5 billion two-year term loan. Net debt stood at $1.9 billion at June 30, and 2026 attributable production guidance remains 860,000 to 940,000 gold equivalent ounces.

Streams are also showing up on new African builds. Wheaton's first quarter report noted that Montage Gold anticipates first gold pour through the oxide circuit at its Koné project in late Q4 2026, with the hard-rock comminution circuit on track for Q2 2027. Subsequent to the second quarter, Wheaton made an additional $44 million upfront payment related to its El Domo stream, and the company hosted an Investor Day webcast on September 16 led by President and CEO Haytham Hodaly.

OR Royalties Inc. (NYSE: OR) reported a 62% year-over-year increase in second quarter 2026 revenues and cash flows from operations, with 96.8% of revenues converting to cash margin, and said its royalty, stream and other interests grew to $1.48 billion at June 30 from $1.14 billion at year-end 2025. The company has continued share repurchases under its normal course issuer bid and raised its quarterly dividend by 18% in May to US$0.065 per share.

On September 23, OR Royalties provided an asset portfolio briefing highlighting first gold production at Cuiú Cuiú and imminent gold production at Amulsar. Earlier in the year, the company closed an additional 1.0% net smelter return royalty on the Namdini project at the end of March, funded from cash on its balance sheet.

Harmony Gold Mining Company Limited (NYSE: HMY) reported record results for the financial year ended June 30, 2026, with revenue up 34% to R99.2 billion, adjusted free cash flow up 54% to a record R17.1 billion and headline earnings per share up 87% to 4,363 SA cents. The company met its gold production guidance for the eleventh consecutive financial year, and a final dividend of 750 SA cents per share brought the total FY26 payout to a record R8.1 billion.

Harmony has also turned to the convertible market, launching a US$500 million guaranteed senior unsecured convertible bond offering due 2031 this month, with issuance scheduled for September 29, 2026. CEO Beyers Nel presented the company's gold and copper strategy at Mining Forum Americas on September 28.

Caledonia Mining Corporation Plc (NYSE American: CMCL) is assembling a layered funding package for its Bilboes gold project in Zimbabwe, which is set to become its second operating mine. The company has raised US$150 million in gross proceeds from 5.875% convertible notes and bought put options locking in a minimum gold price of US$3,500 per ounce over 3,000 ounces a month from January 2026 through December 2028, a hedge designed to underpin cash receipts from its Blanket Mine through the peak Bilboes investment period and support lenders' willingness to provide credit.

With its second quarter results, Caledonia cut 2026 group capital expenditure guidance to US$103.3 million from US$178.9 million on clearer timing for long-lead equipment deposits at Bilboes, said Zimbabwean bank approvals cover more than half of a targeted US$150 million interim facility, and noted due diligence is continuing on a US$300 million project finance facility. The company held a Capital Markets Day in New York on September 16 to set out its Bilboes development and funding strategy.

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Contact Information: Canada News Group

Media Contact: info@canadanewsgroup.com 

DISCLAIMER: Nothing in this publication should be considered personalized financial advice. We are not licensed under securities laws to address your particular financial situation, and no communication from us should be deemed personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor a recommendation to buy or sell any security. We hold no investment licenses and are neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. This article is being distributed by Canada News Group, which is wholly owned and operated by Market Equities Limited ("MEL"), a company incorporated under the laws of Ireland. MEL has been paid a fee directly by Lake Victoria Gold Ltd. for Lake Victoria Gold Ltd. advertising and digital media services. MEL also expects to receive further compensation as part of an ongoing digital media effort to increase visibility for the company. No further notice will be given, but let this disclaimer serve as notice that all material, including this article, has been approved by Lake Victoria Gold Ltd.. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged not to use this publication as the basis for any investment decision. Market Equities and its owners, operators, directors, and affiliates own shares of Lake Victoria Gold Ltd., and reserve the right to buy and sell, and will buy and sell, shares of Lake Victoria Gold Ltd. at any time without further notice, commencing immediately and ongoing, in the open market, through private placements, and/or through other investment vehicles. There may also be third parties who hold shares of Lake Victoria Gold Ltd. and may liquidate their shares, which could have a negative effect on the price of the stock. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in this publication is not trustworthy unless verified by their own independent research. Because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may lose some or all of your investment. The scientific and technical information relating to Lake Victoria Gold Ltd. referenced in this article has been reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person as defined by National Instrument 43-101 and a registered member of the South African Council for Natural Scientific Professions (SACNASP). Mr. Scott is a Director and Officer of Lake Victoria Gold Ltd. and is therefore not independent of the Company. The Tembo Mineral Resource Estimate was prepared by independent Qualified Persons Noleen D. Pauls (M.Sc., Pr. Sci. Nat., FGSSA) and Dean Richards (B.Sc. (Hons), Pr. Sci. Nat., MGSSA) of Obsidian Consulting Services, each independent of the Company. Cautionary Note on Production Decision: Although Imwelo has been the subject of JORC-compliant PEA, PFS and updated PFS work, these foreign-code studies are not current under NI 43-101. The Company has not completed a feasibility study on Imwelo that establishes mineral reserves demonstrating economic and technical viability and is not treating the JORC-based estimates or analyses as current under CIM Definition Standards. Any decision to commence production is not based on a feasibility study of mineral reserves and therefore involves increased uncertainty and a higher risk of economic and technical failure. There is no certainty that the planned low-capex open-pit operation will be economically viable or that production will occur as anticipated. Risks include, without limitation, variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational, regulatory, or permitting risks. The Company has not completed a preliminary economic assessment, pre-feasibility study or feasibility study for the Tembo Project, no Mineral Reserves have been estimated at Tembo, and any decision to commence production at Tembo, including through the proposed toll-milling arrangement with Nyati Resources (T) Limited, would not be based on a feasibility study of Mineral Reserves demonstrating economic and technical viability and would therefore involve increased uncertainty and multiple technical and economic risks of failure. Cautionary Note Regarding Mineral Resources: Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Inferred Mineral Resources are estimated with a lower level of confidence than Indicated Mineral Resources, and it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded through continued exploration. Grade-tonnage figures at higher cut-offs are subsets of the stated Mineral Resource and do not represent separate Mineral Resource estimates. The potential receipt of contingent payments from Bulyanhulu Gold Mine Limited depends on exploration and development success outside the Company's control. Metallurgical recoveries referenced in this article are laboratory results on selected samples; recoveries reported for pretreated fractions do not represent overall whole-ore plant recovery and are not a guarantee of commercial plant performance. Drill intercepts are selected results, are not necessarily representative of the mineralization on the property as a whole, and are reported as down-hole lengths; true widths have not been determined. The gold loan facility and convertible debenture financing referenced in this article are subject to their respective terms and conditions, and there is no assurance any facility will be drawn in full. Further information is available under the Company's profile on SEDAR+ at www.sedarplus.ca. References to Wheaton Precious Metals Corp., OR Royalties Inc., Harmony Gold Mining Company Limited and Caledonia Mining Corporation Plc are provided solely as market and sector context. Those companies are not peers, competitors, or financial comparables of Lake Victoria Gold Ltd., their results are not indicative of Lake Victoria Gold Ltd.'s prospects, none of them is involved in or has reviewed this article, and no partnership, affiliation, or endorsement is implied. References to AngloGold Ashanti's Geita Gold Mine and Barrick's Bulyanhulu Mine, and to their proximity to the Company's projects, are provided for regional and geological context only; mineralization on adjacent or nearby properties is not necessarily indicative of mineralization on the Company's properties. Barrick holds an equity position in Lake Victoria Gold Ltd. and is therefore a shareholder of the Company rather than a comparable company; Barrick is not a tagged company in this article and has no involvement in it. Monetary Metals & Co., Nyati Resources (T) Limited and Taifa Group are counterparties or partners of the Company and are referenced for that reason only. Market-size figures cited in this article are third-party projections that may not be realized and do not represent revenue or addressable market expectations for Lake Victoria Gold Ltd.. Eagle Eye Disclosure: Eagle Eye is an investor signal-intelligence platform affiliated with the publisher of this article, and this reference constitutes promotion of an affiliated product. Eagle Eye is not a broker-dealer, and nothing in the platform or in this article is financial, investment, tax, or legal advice. Data provided in the platform is for informational purposes only and may be delayed. Always do your own research before making any investment decision. Forward-Looking Statements: This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward-looking statements in this publication include, without limitation, statements regarding the Tembo Mineral Resource Estimate and its potential conversion and growth; the planned close-spaced drilling program at Ngula 1; the completion and timing of the Ngula Village land valuation and compensation programme; the proposed toll-milling arrangement with Nyati Resources (T) Limited and the potential for near-term production at Tembo; the potential receipt of contingent payments; the advancement of the Imwelo Gold Project; and the availability of the Monetary Metals gold loan facility and other financing. These forward-looking statements are based on the opinions and assumptions of management of Lake Victoria Gold Ltd. as disclosed in its public releases, and on the publisher's interpretation of that information, and are subject to risks including the volatility of gold prices and of Lake Victoria Gold Ltd.'s shares; the availability of financing on acceptable terms; the ability to reproduce laboratory results at plant scale; delays in construction, land access, permitting or contractor performance; the ability to negotiate and execute definitive agreements, including with Nyati Resources (T) Limited; regulatory, fiscal, community and political risks in Tanzania, including the statutory Government free-carried interest; the uncertainty of mineral resource estimates; and the risks inherent in exploration, development and mining. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this publication. Forward-looking statements in this publication are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. The publisher undertakes no obligation to update any forward-looking statement, except as required by law.

 

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Figure 1a.

Highlights of Hole GD-26-478

Figure 1b.

Geology cross section of GD-26-478 and GD-26-450

Figure 2a.

Highlights of Hole GD-26-414

Figure 2b.

Geology Cross section of GD-26-414

Figure 3.

Plan view map showing locations of GD-26-414 & GD-26-478, plus highlighting the expansion of the Golden Gate Zone thus far in 2026

Figure 4a.

Highlights of Hole GD-26-426

Figure 4b.

Geology cross section of GD-26-426

Figure 5a.

Highlights of Hole GD-26-450

Figure 5b.

Geology cross section of GD-26-450 and GD-26-478

Figure 6a.

Visible Gold to the Naked Eye (VG-NE)

Figure 6b.

Visible Gold to the Naked Eye (VG-NE) cont’

Figure 6c.

Visible Gold to the Naked Eye (VG-NE) cont’

Figure 6d.

Visible Gold to the Naked Eye (VG-NE) cont’

Figure 6e.

Visible Gold to the Naked Eye (VG-NE) cont’

Figure 7.

Isometric View of the Surebet Discovery Ore Mineralization Model

Figure 7.

Plan View Map of Surebet Discovery showing holes with VG-NE

  • Assay results for drill holes GD-26-414, GD-26-426, GD-26-439, GD-26-450, and GD-26-478 confirm mineable widths and grades of gold-mineralization over broad intervals confirming the continuity that has significantly expanded the high-grade core of the Surebet system that remains open for expansion both laterally and to depth.
  • Additionally, the recently discovered volcanic wedge zones have been renamed to Big Bulk Zones based on the broad extent of gold mineralization with confirmed intervals of 10 – 58 meters with grades ranging from 0.39 g/t AuEq up to 2.04 g/t AuEq. This demonstrates strong untapped potential of this extensive gold system for expansion, that could be amiable to low-cost bulk mining methods. The Big Bulk Zones are all located above the valley floor located between the higher grade Bonanza and Golden Gate Zones; they remain open for expansion both laterally as well as to depth.
  • Drill hole GD-26-478 intersected a mineralized interval that assayed 13.81 g/t Au over 4.85 meters, including 21.45 g/t Au over 3.09 meters (Au only assays, AuEq assays pending). This volcanic-hosted interval is part of the Golden Gate Zone in the Western part of the mineralized system and is characterized by multiple quartz-sulphide veins with numerous occurrences of Visible Gold to the Naked Eye (VG-NE) associated with galena, sphalerite, pyrrhotite, and chalcopyrite; see Figures 1a, 1b and 3.
  • Drill hole GD-26-414 intersected a mineralized interval that assayed 10.26 g/t AuEq over 5.00 meters, including 18.30 g/t AuEq over 2.80 meters (only Au assays previously reported, see news reported on August 10, 2026). This intercept is part of the recently discovered Golden Gate Zone vein that is part of the 480 meter Northeastern step-out expansion this year, where mineralization consists of a broad quartz-sulphide vein and associated veinlets in the surrounding host rock containing several occurrences of VG-NE associated with massive pyrrhotite, sphalerite, galena and minor chalcopyrite; see Figures 2a, 2b and 3.
  • The expanded Golden Gate Zone has a strike of 1.6 km E-W and 1.5 km N-S defining an area of 1.17 Km2. Based on 2025 data, the Golden Gate Zone contains 18 lodes up to 14 meters with a combined thickness of up to 49 meters and with intercepts up to 34.52 g/t AuEq (34.47 g/t Au and 3.96 g/t Ag) over 39.00 meters (drill hole GD-24-260) and remains open for expansion; see Figure 3.
  • All drill holes from the 2026 drill program completed to date have intersected quartz-sulphide mineralization which typically coincide with high-grade gold mineralization. 92 out of 97 drill holes have been completed with a total of 45,616 meters drilled thus far in 2026.
  • Only 9 holes with complete gold equivalent (AuEq) assays have been reported to date from a total of 97 drill holes for this year’s program; many more assays to come.
  • 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.
  • 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.

TORONTO, Sept. 16, 2026 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report assay results for drill holes GD-26-414, GD-26-426, GD-26-439, GD-26-450, and GD-26-478 from the Surebet Discovery on its 100% owned Golddigger Property (the “Property”), Golden Triangle, British Columbia. All reported holes contain substantial gold-mineralization characterized by the widespread presence of VG-NE that continues to demonstrate increased confidence in the continuity as well as the expansion potential of the Surebet System. All drill holes completed during the 2026 program have intersected quartz-sulphide mineralization, with 92 out of 97 planned holes completed for a total of 45,616 meters drilled to date.

Mr. Roger Rosmus, Founder & CEO of Goliath states: “Assay results for these announced holes from the Surebet and Golden Gate Zones confirms additional gold-mineralization over broad intervals increasing confidence in the continuity and expansion potential of the high-grade part of the Surebet system that remains open. As well, the Bonanza Zone is located at the contact between sediments above and volcanics below, where the Golden Gate Zone comes together to form a broad mineralized zone where our newly discovered volcanic Big Bulk Zone is located, previously known as the wedge zone. I would also point out that all mineralized zones have multiple occurrences of visible gold in all the three distinct rock packages. Instead of getting near the edges of the system, it continues to expand. Drilling into the system at depth is still well above the valley floor, which is leading us to believe that the magmatic feeder zone, or zones, for the entire system is at or below the valley floor. As we do exploration drilling deeper and laterally, the Surebet system keeps getting larger. We look forward to announcing several gold equivalent assay results from a further 88 holes from the 2026 drill program”.

Drill hole GD-26-478 (Pad 20, Azimuth 75, Dip 72) intersected a mineralized interval that assayed 13.81 g/t Au over 4.85 meters, including 21.45 g/t Au over 3.45 meters (Au only assays, AuEq assays pending). This interval is hosted in the volcanic package and consists of multiple quartz-sulphide veins containing numerous VG-NE occurrences associated with galena, sphalerite, pyrrhotite, and chalcopyrite. This interval is part of the Golden Gate Zone and is located in the western side of the known mineralized system.

Drill hole GD-26-414 (Pad 1, Azimuth 115, Dip 81) intersected a newly discovered Golden Gate Zone vein that is part of the 480 meter Northeastern step-out expansion this year, that assayed 10.26 g/t AuEq over 5.00 meters, including 18.30 g/t AuEq over 2.80 meters (only Au assays previously reported, see news reported on August 10, 2026). Mineralization consists of a broad quartz-sulphide vein and associated veinlets in the surrounding host rock containing several occurrences of VG-NE associated with massive pyrrhotite, sphalerite, galena and minor chalcopyrite.

Drill hole GD-26-426 (Pad 15, Azimuth 310, Dip 79) intersected a Surebet Zone interval that assayed 5.27 g/t AuEq over 9.85 meters, within an extensive zone of 23.50 m grading 2.55 g/t AuEq (only Au assays previously reported, see news reported on August 10, 2026). Mineralization includes breccia and stockwork veining containing VG-NE associated with massive to stringer galena, sphalerite, and pyrrhotite.

Drill hole GD-26-450 (Pad 11, Azimuth 310, Dip 64) intersected a Surebet Zone interval that assayed 4.42 g/t AuEq over 6.96 meters, including 5.32 g/t AuEq over 5.00 meters, within a wider interval of 3.06 g/t AuEq over 12.97 meters. Mineralization occurs in sediment-hosted quartz breccia and stockwork veins that contain VG-NE, galena, sphalerite, pyrrhotite, pyrite, and chalcopyrite.

Drill hole GD-26-439 (Pad 6, Azimuth 38, Dip 58) intersected 4.97 g/t AuEq over 2.95 meters, including 14.49 g/t AuEq over 1.00 meters in the Surebet Zone.

All drill holes completed during the 2026 drill program have intersected quartz-sulphide mineralization which typically coincides with high-grade gold mineralization. 92 out of 97 planned drill holes have been completed with a total of 45,616 meters drilled thus far in 2026.

Table 1: Gold and gold equivalent assay results.

Hole ID   From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu % Pb % Zn % AuEq (g/t)
GD-26-478 Interval 237.00 241.85 4.85 13.81 Assays Pending Assays Pending Assays Pending Assays Pending Assays Pending
Including 238.76 241.85 3.09 21.45 Assays Pending Assays Pending Assays Pending Assays Pending Assays Pending
Including 240.70 241.85 1.15 37.34 Assays Pending Assays Pending Assays Pending Assays Pending Assays Pending
GD-26-414 Interval 509.00 514.00 5.00 9.87 12.76 0.02 0.42 0.40 10.26
Including 510.00 512.80 2.80 17.61 22.46 0.04 0.75 0.71 18.30
Including 510.91 511.66 0.75 65.65 80.94 0.12 2.79 2.60 68.17
GD-26-426 Interval 272.00 295.50 23.50 2.16 17.77 0.02 0.27 0.18 2.55
Including 276.50 289.35 12.85 3.70 24.94 0.02 0.37 0.25 4.24
Including 279.50 289.35 9.85 4.62 31.41 0.03 0.47 0.22 5.27
Including 279.50 281.00 1.50 14.22 46.65 0.04 0.89 0.30 15.21
Including 288.00 289.35 1.35 16.86 120.00 0.08 1.81 0.75 19.33
GD-26-450 Interval 324.54 337.51 12.97 2.47 25.49 0.02 0.47 0.36 3.06
Including 324.54 331.50 6.96 3.49 39.86 0.03 0.77 0.58 4.42
Including 326.50 331.50 5.00 4.22 48.15 0.03 0.91 0.62 5.32
Including 327.48 328.50 1.02 11.68 105.00 0.02 1.97 1.76 14.14
GD-26-439 Interval 204.55 207.50 2.95 4.26 39.30 0.01 0.23 0.13 4.97
Including 205.55 206.55 1.00 12.49 112.00 0.01 0.68 0.35 14.49

Table 2: Collar information for drill holes reported in this news release.

Hole ID CRS Easting (m) Northing (m) Elevation (m) Azimuth (deg) Dip (deg) Length (m)
GD-26-478 NAD83 / UTM zone 9N 456862 6162597 1442 75 72 454
GD-26-450 NAD83 / UTM zone 9N 457144 6163026 1674 310 64 540
GD-26-439 NAD83 / UTM zone 9N 457444 6163164 1709 38 58 369
GD-26-426 NAD83 / UTM zone 9N 457189 6163130 1704 310 79 642
GD-26-414 NAD83 / UTM zone 9N 457719 6162968 1490 115 81 578

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. Demonstrating the geological team has a great understanding of the system and its predictability.
  • 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. A good analogy for the stacked veins that are gently-dipping is the Pogo Mine in Alaska. (see Table 3 and Figure 7).

Table 3: Five main modelled gold rich zones and dykes, see isometric view in Figure 7 below.

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
  • High-grade gold has been identified in three distinct 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 Big Bulk Zone previously reported as the volcanic wedge zone is GD-24-291 that assayed 1.97.52 g/t AuEq (1.92 Au and 1.85 Ag) over 33 meters (see news release dated August 31, 2026). This zone is composed of 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. 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 program 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: +1.416.488.2887roger@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. Drill holes were planned using Leapfrog GeoTM and QGISTM software and data from the 2017-2025 exploration programs. 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%.

Samples 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:

  AuEq = ((Au ppm) * (Au $⁄ g)) + ((Ag ppm) * (Ag $⁄ g)) + ((Cu ppm) * (Cu $⁄ g)) + ((Zn ppm) * (Zn $⁄ g)) + ((Pb ppm) * (Pb $⁄ g))  
  (Au $⁄ g)  
     

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.

  • Drill holes GD-26-425 and GD-26-462 mark the presence of the volcanic Wedge Zone in the western and north-eastern fringes of the mineralized system, respectively. These two newly discovered mineralized areas add to the two previously discovered Wedge Zone domains (see news August 31, 2026): the first located in the south-central part of the known mineralized system and the second in the recently announced 540 meter step-out to the Southwest of the Surebet system. There are approximately 900 meters of untested volcanics by the drill bit separating the domains discovered in the West and Southwest of the system that have the potential to host further mineralization part of the volcanic Wedge Zone (see Figure 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, inclusive of close to surface grades of up to 1.97 g/t AuEq over 33 meters (see news August 31, 2026).
  • The Central volcanic Wedge Zone occupies a mineralized area extending up to 310 meters in length and 110 meters vertically, consisting of numerous stacked mineralized veinlets hosted in the volcanic package (see Figure 2 and news August 31, 2026).
  • The Wedge Zone 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 (see Figure 3).
  • Drill hole GD-26-462 intersected two mineralized intervals hosted in the volcanic package located in the confirmed 480 meters step-out expansion to the Northeast part of the Surebet system. The first is part of the volcanic Wedge Zone located between the Bonanza and Golden Gate Zones that assayed 26.80 g/t Au over 2.30 meters within a broader interval of 14.28 g/t Au over 4.32 meters (Au only assays; AuEq assays pending). This first interval consists of frequent stockwork to sheeted mineralized veinlets associated with Visible Gold to the Naked Eye (VG-NE). The second interval is part of the Golden Gate Zone and assayed 20.45 g/t Au over 1.65 meters within a wider interval of 9.31 g/t Au over 3.65 meters composed of a broad quartz vein including semi-massive sulphides and VG-NE (Au only; AuEq assays pending); see Figure 4.

                        *For reported assay intervals and AuEq calculation please see QA/QC Section

  • Drill hole GD-26-417 intersected the volcanic Wedge Zone that extends over 58.00 meters grading 0.55 g/t AuEq, including 9.00 meters of 1.06 g/t AuEq in the confirmed 540 meters step-out expansion to the Southwestern part of the Surebet system. This interval consists of frequent and tightly spaced quartz and calc-silicate veinlets where multiple VG-NE occurrences have been identified. A second interval below the Wedge Zone part of the Golden Gate Zone assayed 2.22 g/t AuEq over 5.00 meters, including 9.30 g/t AuEq over 1.00 meter. This interval is composed of quartz-sulphide veining hosting VG-NE; see Figure 5 (Only Au assays previously reported, see news August 6, 2026).

                        *For reported assay intervals and AuEq calculation please see QA/QC Section

  • Drill hole GD-26-425 intersected a volcanic Wedge interval that extends over 23.20 meters grading 1.02 g/t AuEq, including 4.16 g/t AuEq over 3.20 meters. Mineralization in this interval is hosted in sheeted quartz-sulphide and calc-silicate veins and veinlets associated with VG-NE; see Figure 6 (Only Au assays previously reported, see news August 6, 2026). A second Wedge Zone interval was intersected that extends over 10.55 meters grading 0.48 g/t AuEq, including 7.49 meters grading 0.56 g/t AuEq. Mineralization is distributed in sheeted to stockwork veinlets and widespread calc-silicate alteration stringers and patches.

*For reported assay intervals and AuEq calculation please see QA/QC Section

  • 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 underground 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, Sept. 10, 2026 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report assay results for drill holes GD-26-417, GD-26-425, GD-26-440, GD-26-462, confirming the presence of the volcanic Wedge Zone in the western, northeastern and southern parts of the mineralized system. The volcanic Wedge Zone is located between the structural intersection of the Bonanza and Golden Gate Zones connecting them that could significantly expand the volume of known mineralization on its 100% owned Golddigger Property (the “Property”), Golden Triangle, British Columbia.

Mr. Roger Rosmus, Founder & CEO of Goliath states: “We are pleased to see the expansion of the mineralized Wedge Zone to the west, southwest and northeast. This is another important piece of the bigger picture that is unfolding at the Surebet Discovery as we continue to test for the Motherlode Causative Intrusive source. Based on these positive results, there appears to be an opportunity to add significant volumes of mineralization to the Surebet system, inclusive of the 900 meters of volcanics untested with the drill bit that separate domains discovered this year in the West and Southwest; see Figure 1 above. With a targeted 50,000 meter drill program still underway, we are adding many more holes daily to the lab pipeline that should provide a steady flow of assay news into the new year”.

Drill hole GD-26-462 intersected 26.80 g/t AuEq over 2.30 meters within 14.28 g/t AuEq over 4.32 meters in the Wedge Zone located in the Surebet system expansion to the Northeast. This interval consists of frequent stockwork to sheeted mineralized veinlets associated with VG-NE. A second mineralized interval underlying the Wedge Zone was intersected in GD-26-462 that assayed 9.31 g/t Au over 3.65 meters, including 20.45 g/t Au over 1.65 meters composed of a broad quartz vein including semi-massive sulphides and VG-NE is part of the Golden Gate Zone.

Drill hole GD-26-417 intersected mineralization extending over 58.00 meters and grading 0.55 g/t AuEq, including 1.06 g/t AuEq over 9.00 meters. This interval is part of the volcanic Wedge Zone in the confirmed 540 meters expansion to the Southwestern part of the Surebet system and consists of frequent and tightly spaced quartz and calc-silicate veinlets where multiple VG-NE occurrences have been identified. A second mineralized interval was intersected below the Wedge Zone and assayed 2.22 g/t AuEq over 5.00 meters, including 9.30 g/t AuEq over 1.00 meter. This interval is part of the Golden Gate Zone and is composed of quartz-sulphide veining hosting VG-NE (Only Au assays previously reported, see news August 6, 2026).

Drill hole GD-26-425 intersected mineralization extending over 23.20 meters and grading 1.02 g/t AuEq, including 3.20 meters grading 4.16 g/t AuEq. Mineralization in this interval is part of a volcanic Wedge Zone that shows sheeted quartz-sulphide, calc-silicate veins and veinlets associated with VG-NE. A second Wedge Zone interval was intersected in GD-26-425 extending over 10.55 meters and grading 0.48 g/t AuEq, including 7.49 meters grading 0.56 g/t AuEq. Mineralization is distributed in sheeted to stockwork veinlets and widespread calc-silicate alteration stringers and patches.

Drill hole GD-26-440 intersected the Wedge Zone mineralization in the Northwest of the Surebet system extending over 24.97 meters and grading 0.66 g/t Au, including 7.05 meters grading 1.07 g/t Au (Au only; AuEq assays pending). Mineralization is hosted in tightly spaced sheeted quartz-sulphide vein sets hosted in the volcanics.

Table 1: Gold equivalent and gold assay results in this news release.

Hole ID   From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu % Pb % Zn % AuEq (g/t)
GD-26-462 Interval 442.18 446.50 4.32 14.28  Assays pending Assays pending Assays pending Assays pending Assays pending
Including 443.30 445.60 2.30 26.80  Assays pending Assays pending Assays pending Assays pending Assays pending
Including 444.43 445.60 1.17 51.57  Assays pending Assays pending Assays pending Assays pending Assays pending
Interval 480.60 484.25 3.65 9.31  Assays pending Assays pending Assays pending Assays pending Assays pending
Including 481.70 483.35 1.65 20.45  Assays pending Assays pending Assays pending Assays pending Assays pending
Including 482.53 483.35 0.82 40.00  Assays pending Assays pending Assays pending Assays pending Assays pending
GD-26-417 Interval 214.00 272.00 58.00 0.52 1.19 0.00 0.00 0.02 0.55
Including 236.00 248.00 12.00 0.94 2.43 0.00 0.00 0.02 0.99
Including 236.00 245.00 9.00 1.00 2.88 0.00 0.00 0.02 1.06
Interval 284.00 292.00 8.00 1.38 3.27 0.00 0.00 0.01 1.44
Including 285.00 290.00 5.00 2.13 4.83 0.00 0.00 0.01 2.22
Including 286.00 287.00 1.00 8.96 20.57 0.01 0.00 0.01 9.30
GD-26-425 Interval 280.97 291.52 10.55 0.41 3.21 0.01 0.03 0.05 0.48
Including 283.00 290.49 7.49 0.49 3.19 0.00 0.03 0.04 0.56
Interval 299.80 323.00 23.20 0.94 3.49 0.01 0.02 0.09 1.02
Including 304.70 313.00 8.30 2.14 5.48 0.01 0.03 0.17 2.29
Including 304.70 307.90 3.20 3.96 5.24 0.01 0.04 0.37 4.16
Including 304.70 305.77 1.07 7.28 9.15 0.01 0.03 0.46 7.57
GD-26-440 Interval 402.13 427.10 24.97 0.66  Assays pending Assays pending Assays pending Assays pending Assays pending
Including 403.00 410.05 7.05 1.07  Assays pending Assays pending Assays pending Assays pending Assays pending

Table 2: Collar information.

Hole ID CRS Easting (m) Northing (m) Elevation (m) Azimuth (deg) Dip (deg) Length (m)
GD-26-462 NAD83 / UTM zone 9N 457964 6162974 1404 340 75 558
GD-26-417 NAD83 / UTM zone 9N 457182 6161755 932 90.5 48 357
GD-26-425 NAD83 / UTM zone 9N 456774 6162469 1395 110 68 459
GD-26-440 NAD83 / UTM zone 9N 456711 6162964 1631 40 85 471

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 8).

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

  • 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. (TSX: MUX) (NYSE: 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: +1.416.488.2887roger@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

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.

Report assay results for drill holes GD-26-414, GD-26-426, GD-26-431, and GD-26-436 from the Surebet Zone on its 100% owned Golddigger Property, Golden Triangle, B.C. shares V.GOT are trading up $0.12 at $1.84.

Read:

Figure 1

Highlights of Hole GD-26-436 – Surebet Zone

Figure 2

Cross Section of Surebet Zone

Figure 3

Highlights of Hole GD-26-426 – Surebet Zone

Figure 4

Highlights of Hole GD-26-431 – Surebet Zone

Figure 5

Highlights of Hole GD-26-414 – Surebet Zone

Figure 6a

Visible Gold to the Naked Eye (VG-NE)

Figure 6b

Visible Gold to the Naked Eye (VG-NE) cont’

Figure 6c

Visible Gold to the Naked Eye (VG-NE) cont’

Figure 7

Isometric View of the Surebet Discovery Ore Mineralization Model

Figure 8

Plan View Map of Surebet Discovery showing holes with VG-NE

Gold Equivalent (AuEq) Calculation

Gold Equivalent (AuEq) Calculation

  • Drill hole GD-26-436 from the Surebet Zone, intersected an extensive mineralized interval near the surface that assayed 7.38 g/t AuEq over 35.7 meters, including 19.51 g/t AuEq over 8.32 meters. This entire interval is characterized by veining, alteration, and anomalous gold grades throughout its length with multiple high-grade subintervals. It also contains several occurrences of visible gold to the naked eye (VG-NE), native silver associated with galena, sphalerite, pyrrhotite and chalcopyrite in quartz-sulphide stockwork and breccia hosted in sandstones; see Figure 1.

                                                         *For reported assay intervals and AuEq calculation please see QA/QC Section

  • GD-26-436 confirms the continuity and consistency of Surebet mineralization, supported by numerous high-grade drill intercepts previously announced (sample below, with updated commodity prices), that all sit within a ~120 meter x ~50 meter area of the Surebet Zone; see Figure 2.
  • Drill hole GD-26-426 intersected two neighbouring mineralized splays of the Surebet Zone. The first assayed 5.18 g/t Au over 4.50 meters, within a wider interval of 2.81 g/t Au over 9.00 meters. The second assayed 7.85 g/t Au over 3.00 meters within a wider interval of 4.22 g/t Au over 5.80 meters. Mineralization consists of breccia and stockwork with VG-NE associated with massive to stringer galena, sphalerite, and pyrrhotite; see Figure 3 (Au only; AuEq assays pending).

            *For reported assay intervals and AuEq calculation please see QA/QC Section

  • Drill hole GD-26-431 intersected the sediment-hosted Eldorado Zone that returned assays of 5.83 g/t Au over 5.95 meters, including 11.42 g/t Au over 2.90 meters, within a wider interval of 3.07 g/t Au over 11.90 meters. Mineralization is present in the form of disseminated and stringer pyrrhotite and pyrite hosted in stockwork veins and veinlets associated with sericite and biotite alteration; see Figure 4 (Au only; AuEq assays pending).

*For reported assay intervals and AuEq calculation please see QA/QC Section

  • Drill hole GD-26-414 intersected the Surebet Zone that returned assays of 1.92 g/t AuEq over 16.45 meters, including 3.92 g/t AuEq over 4.00 meters and 2.01 g/t AuEq over 7.45 meters, including 3.56 g/t AuEq over 3.80 meters, including 4.84 g/t AuEq over 2.67 meters; see Figure 5 (Au assays reported in August 10, 2026 news).

*For reported assay intervals and AuEq calculation please see QA/QC Section

  • Visible Gold to the Naked Eye (VG-NE) has been intersected in multiple veins and shear zones from 33 out of 52 holes drilled in 2026 continuing to confirm consistency of gold mineralization within the Surebet vein system that remains open laterally and at depth; see Figures 6a, 6b and 6c.
  • All drill holes from the 2026 drill program completed to date have intersected quartz-sulphide mineralization which typically coincide with high-grade gold mineralization. 52 out of 98 planned drill holes have been completed with a total of 31,994 meters drilled in 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. 
  • Expansion drilling will continue to focus on extending the footprint of the Bonanza, Golden Gate, and Surebet Zones.
  • Directional drilling consisting of multiple holes stemming from a single ‘mother’ hole is being used on selected drill pads in order to minimize drill time and costs while increasing target accuracy. Which is proving to be an effective way to drill the stacked lodes-veins, due to their close proximity can be hit several times from the ‘mother’ hole.

TORONTO, Aug. 21, 2026 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report assay results for drill holes GD-26-414, GD-26-426, GD-26-431, and GD-26-436 from the Surebet Zone on its 100% owned Golddigger Property (the “Property”), Golden Triangle, British Columbia.

Mr. Roger Rosmus, Founder & CEO of Goliath states: “Here we go again, Surebet just keeps passing the test we set out with in the 2026 drilling season. We wanted to step out aggressively to see if Surebet can keep delivering high-grade gold with large step outs. Instead of cutting anything off, the overall system just keeps getting bigger and bigger as we test it with aggressive step out holes. Of particular note, in this news release we are delighted to report some significant widths and grades from multiple holes. I have never seen a high-grade gold system that keeps delivering such remarkable high-grade gold with such a large footprint. Our team is firing on all cylinders, Surebet is passing every test and we are eager to see additional drilling results that keep showing Surebet is one of the most important high-grade gold discovery in the Golden Triangle in many years.”

Drill hole GD-26-436 from the Surebet Zone, intersected an extensive mineralized interval near surface that assayed 7.38 g/t AuEq over 35.7 meters, including 19.51 g/t AuEq over 8.32 meters. This entire interval is characterized by veining, alteration, and anomalous gold grades throughout its length with multiple high-grade subintervals. It also has several occurrences of visible gold to the naked eye (VG-NE), native silver associated with galena, sphalerite, pyrrhotite and chalcopyrite in quartz-sulphide stockwork and breccia hosted in sandstones.

Drill hole GD-26-426 intersected two neighbouring mineralized splays of the Surebet Zone. The first assayed 5.18 g/t Au over 4.50 meters, within a wider interval of 2.81 g/t Au over 9.00 meters. The second assayed 7.85 g/t Au over 3.00 meters within a wider interval of 4.22 g/t Au over 5.80 meters. Mineralization consists of breccia and stockwork with VG-NE associated with massive to stringer galena, sphalerite, and pyrrhotite (Au only; AuEq assays pending).

Drill hole GD-26-431 intersected the Eldorado Zone, which assayed 5.83 g/t Au over 5.95 meters, including 11.42 g/t Au over 2.90 meters, within a wider interval of 3.07 g/t Au over 11.90 meters. Mineralization occurs as disseminated and stringer pyrrhotite and pyrite in stockwork veins and veinlets hosted in sandstone and associated with sericite and biotite alteration.

Additional mineralized intercepts reported in this news release include drill hole GD-26-421 (Pad 4, Azimuth 60, Dip 72), which intersected 2.02 g/t AuEq over 3.98 meters, including 7.68 g/t AuEq over 0.98 meters, and the integration of the previously reported gold only grades with multielement assay results for drill hole GD-26-424 (Pad 1, Azimuth 115, Dip 81), which intersected 10.90 g/t AuEq over 6.00 meters, including 16.48 g/t AuEq over 3.96 meters, including 35.65 g/t AuEq over 1.82 meters.

All drill holes completed during the 2026 drill program have intersected quartz-sulphide mineralization which typically coincides with high-grade gold mineralization. 52 out of 98 planned drill holes have been completed with a total of 31,994 meters drilled thus far in 2026.

Table 1: Gold and gold equivalent assay results.

Hole ID   From(m) To(m) Interval(m) Au(g/t) Ag(g/t) Cu % Pb % Zn % AuEq(g/t)
GD-26-436 Interval 41.30 81.00 39.70 2.77 238.25 0.02 0.28 0.19 6.70
Including 41.30 77.00 35.70 3.02 264.37 0.02 0.30 0.21 7.38
Subinterval 42.38 45.33 2.95 10.36 219.24 0.07 2.69 1.36 14.70
Including 42.38 43.44 1.06 23.87 463.00 0.15 5.50 2.27 32.86
Subinterval 54.00 62.32 8.32 3.74 975.34 0.03 0.19 0.20 19.51
Including 56.19 59.29 3.10 6.98 2447.25 0.06 0.43 0.42 46.49
Subinterval 68.00 73.00 5.00 7.25 74.73 0.01 0.06 0.06 8.49
Including 69.00 70.00 1.00 26.06 178.00 0.01 0.19 0.15 28.99
Subinterval 76.00 77.00 1.00 7.13 67.72 0.01 0.20 0.28 8.32
GD-26-431 Interval 229.00 240.90 11.90 3.07          
Including 233.00 240.90 7.90 4.53          
Including 234.95 240.90 5.95 5.83          
Including 238.00 240.90 2.90 11.42          
Including 238.00 239.00 1.00 25.05          
GD-26-426 Interval 272.00 281.00 9.00 2.81          
Including 275.00 281.00 6.00 4.08          
Including 276.50 281.00 4.50 5.18          
Interval 285.20 291.00 5.80 4.22          
Including 286.55 291.00 4.45 5.34          
Including 288.00 291.00 3.00 7.85          
GD-26-414 Interval 35.00 51.45 16.45 1.31 32.99 0.01 0.18 0.18 1.92
Including 35.00 39.00 4.00 2.81 57.78 0.02 0.47 0.34 3.92
Including 36.00 37.00 1.00 9.79 135.00 0.04 1.03 0.91 12.40
Subinterval 44.00 51.45 7.45 1.33 37.61 0.01 0.13 0.20 2.01
Including 47.65 51.45 3.80 2.53 56.88 0.00 0.16 0.35 3.56
Including 48.78 51.45 2.67 3.43 77.54 0.01 0.23 0.49 4.84
GD-26-421 Interval 269.02 273.00 3.98 1.84 5.50 0.01 0.12 0.29 2.02
Including 269.02 270.00 0.98 7.00 18.59 0.02 0.43 1.14 7.68
GD-26-424 Interval 532.00 538.00 6.00 10.32 23.97 0.04 0.46 0.31 10.90
Including 533.04 537.00 3.96 15.61 36.15 0.06 0.69 0.46 16.48
Including 534.18 536.00 1.82 33.80 78.05 0.13 1.49 0.98 35.65

*For reported assay intervals and AuEq calculation please see QA/QC Section

Table 2: Collar information for drill holes reported in this news release.

Hole ID CRS Easting (m) Northing (m) Elevation (m) Azimuth (deg) Dip (deg) Length (m)
GD-26-436 NAD83 / UTM zone 9N 457718 6162966 1485 170 75 562
GD-26-426 NAD83 / UTM zone 9N 457190 6163127 1712 310 79 642
GD-26-431 NAD83 / UTM zone 9N 456710 6162961 1639 40 85 489
GD-26-414 NAD83 / UTM zone 9N 457718 6162966 1485 115 81 578
GD-26-421 NAD83 / UTM zone 9N 456710 6162961 1639 60 72 819
GD-26-424 NAD83 / UTM zone 9N 457718 6162966 1485 115 81 579

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 drill hole pierce points; ~77% of these pierce points have 25 – 50 meter spacings.
  • The most recent ore mineralization model (see Figure 7) 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.

Table 3: Five main modelled gold rich zones and dykes, see isometric view in Figure 7 below.

Zone Number oflodes/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
         
  • 355 out of 386 drill holes representing 92% of holes drilled between 2021 – 2025 at Surebet contain VG-NE (see Figure 8):
  • 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 1.8 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.
  • 92% of the holes (355 out of 386) drilled prior to the 2026 drill season at Surebet contain VG-NE (see Figure 5a and 5b) and 100% of holes drilled to date at the Surebet Discovery have intersected substantial 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.
  • 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.
  • 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 program 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: +1.416.488.2887roger@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. Drill holes were planned using Leapfrog GeoTM and QGISTM software and data from the 2017-2025 exploration programs. 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%.

Samples 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:

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.

VANCOUVER, BC / ACCESS Newswire / August 17, 2026 / Lupaka Gold Corp. ("Lupaka" or the "Company") (TSXV:LPK)(FRA:LQP) advises that the Company's directors have declared a first Contingent Value Right ("CVR") payment ("CVR Payment 1") to the holders of the 160,277,702 contingent value rights (the "CVR Holders").

First CVR Holder Payment and Timing

The Company's directors have declared a first CVR Payment of USD0.109 per CVR, to be paid via Computershare Trust Company of Canada ("Computershare") within the next ten (10) business days.

This payment will be made directly via cheque to Registered CVR Holders by Computershare, and in cash to Non-Registered CVR Holders via the intermediary securities framework, typically referred to as the indirect holding system. Securities intermediaries include central depositories (such as CDS, CEDE and DTS) and financial institutions (including broker-dealers, banks and trust companies).

As noted on the Company's website (see https://lupakagold.com/arbitration/), CVR Payments made to non-resident Registered CVR Holders will be subject to a 25% withholding tax, unless the related CVR Holder is a tax resident of a sovereign country having a valid tax treaty with Canada and has provided the Company with a completed Form NR301 prior to the total CVR Holder payments being forwarded to Computershare.

Determination of the CVR Payment 1 Amount

As announced on August 4, 2026, the Company accepted a 2-step payment proposal from the Peru Government, resulting in the Company receiving 70% of the Base Award, equal to USD46,221,474, and 70% of the reimbursed Lupaka Costs, equal to USD3,211,721 from the Ministry of Energy and Mines. Both amounts include interest accrued to June 30, 2026.

As set out in the June 2022 Contingent Value Rights Trust Indenture Agreement, the first CVR Payment amount has been determined by the Company's directors as follows:

Gross Base Award proceeds received:

USD46,221,474

Less: amounts payable to the Company's arbitration financier (Bench Walk Advisors); legal and professional fees; accounts payables and accrued liabilities as of the Award date (June 30, 2025); the estimated costs of the first CVR distribution; withholding and distribution tax costs; and C$8 million retained by the Company for working capital and other corporate purposes.

Net Award proceeds available for distribution:

USD17,470,269

Number of CVR's outstanding:

160,277,702

CVR Payment per CVR:

USD0.109

Second CVR Payment

As previously announced, the remaining 30% of the Base Award, equal to USD19,809,203, and 30% of the Lupaka Costs, equal to USD1,376,452, will be paid by the Peru Government's Ministry of the Interior ("MOI") by December 31, 2026. This amount includes interest accrued to June 30, 2026. Once the MOI payment is received, the Company will immediately undertake the payment of a second CVR Payment, that is expected to be greater than CVR Payment 1.

Gordon Ellis (CEO) commented "We are pleased with having the ability to pay the first CVR Payment very soon now, and again upon our receipt of the second Peru payment. With a solid treasury in hand now, the Company is actively moving forward on pursuing potential resource development projects".

For ongoing updates and more details with respect to CVR Holder distributions, please refer to the Company's website (www.lupakagold.com/arbitration/).

Lupaka was represented in the arbitration proceedings by the international law firm LALIVE (www.lalive.law), with the financial backing of Bench Walk Advisors (www.benchwalk.com).

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release.

About Lupaka Gold

Lupaka is a Canadian-based junior mining company focused on creating shareholder value through the identification and development of mining assets.

About LALIVE

LALIVE is an international law firm with offices in Geneva, Zurich and London, that specializes in international dispute resolution. The firm has extensive experience in international investment arbitration in the mining sector, amongst others, and is currently representing investors and States as counsel worldwide.

About Bench Walk Advisors

Bench Walk Advisors is a global litigation financier with over USD 250 million of capital deployed across in excess of 100 commercial cases. Bench Walk and its principals have consistently been ranked as leading lawyers and litigation funders in various global directories.

FOR FURTHER INFORMATION PLEASE CONTACT:

Gordon Ellis, C.E.O.gellis@lupakagold.comTel: (604) 985-3147

SOURCE: Lupaka Gold Corp.

View the original press release on ACCESS Newswire

Reports additional assay results that confirm the continuity and expansion of the gold-mineralization within the Golden Gate Zone within the newly discovered 320 meter extension to the Northeast on its 100% owned Golddigger Property, Golden Triangle, British Columbia. Goliath Resources Ltd. shares V.GOT are trading unchanged at $1.60.

Read:

Figure 1a

Golden Gate Expansion Map

Figure 1b

Cross Section of Holes GD-26-412, GD-26-414, GD-26-420 and GD-26-424 – Golden Gate Zone

Figure 2

Highlights of Hole GD-26-424 – Golden Gate Zone

Figure 3a

Highlights of Hole GD-26-412 – Surebet Zone

Figure 3b

Highlights of Hole GD-26-412 – Golden Gate Zone

Figure 4a

Visible Gold to the Naked Eye (VG-NE)

Figure 4b

Visible Gold to the Naked Eye (VG-NE) cont’

Figure 4c

Visible Gold to the Naked Eye (VG-NE) cont’

Figure 5

Plan View showing the expanded Bonanza Zone

Figure 6

Plan View showing the expanded Golden Gate Zone

Figure 7

Isometric View of the Surebet Discovery Ore Mineralization Model

Figure 8

Plan View Map of Surebet Discovery showing holes with VG-NE

  • Drill hole GD-26-424 intersected the Golden Gate Zone in an interval that assayed 10.32 g/t Au over 6.00 meters, including 15.61 Au over 3.96 meters, including 33.80 g/t Au over 1.82 meters (gold only). It contained a series of quartz-sulphide veins containing multiple occurrences of Visible Gold to The Naked Eye (VG-NE) hosted in volcanic rocks. The veins contain disseminated sulphides consisting of pyrite, pyrrhotite, sphalerite, galena, and trace chalcopyrite (see Figure 2).

*For reported assay intervals and AuEq calculation please see QA/QC Section on page 14

  • Drill hole GD-25-412 intersected multiple mineralized intervals belonging to the Surebet and Golden Gate Zones.
    • The Surebet Zone interval assayed 4.41 g/t AuEq (3.33 g/t Au and 61.14 g/t Ag) over 7.79 meters, including 8.47 g/t AuEq (6.58 g/t Au and 106.53 g/t Ag) over 3.81 meters within a broader interval of mineralization. This intercept contains multiple occurrences of VG-NE within quartz veins and breccias associated with disseminated galena, sphalerite and pyrrhotite (see Figure 3a).
    • The Golden Gate interval assayed 4.17 g/t AuEq (3.87 g/t Au and 7.96 g/t Ag) over 3.75 meters, including 7.52 g/t AuEq (7.07 g/t Au and 11.37 g/t Ag) over 1.94 meters within a broader interval of mineralization. This intercept is characterized by several occurrences of VG-NE associated with quartz-sulphide veins containing pyrite, pyrrhotite, sphalerite and galena (see Figure 3b).

*For reported assay intervals and AuEq calculation please see QA/QC Section on page 14

  • All drill holes completed during the 2026 drill campaign have intersected quartz-sulphide mineralization which generally corresponds to high-grade gold mineralization. 45 out of 98 planned drill holes have been completed with a total of 25,651 meters drilled in 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.
  • Expansion drilling will continue to focus on extending the footprint of the Bonanza and Golden Gate Zones to the Southwest, East and Northeast.
  • Directional drilling consisting of multiple holes stemming from a single ‘mother’ hole is being used on selected drill pads in order to minimize drill time and costs while increasing target accuracy.

TORONTO, Aug. 11, 2026 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report additional assay results that confirm the continuity and expansion of the gold-mineralization within the Golden Gate Zone within the newly discovered 320 meter extension to the Northeast on its 100% owned Golddigger Property (the “Property”), Golden Triangle, British Columbia.

Mr. Roger Rosmus, Founder & CEO of Goliath states: “We started our drilling season with a goal focused on expansion. Our team is delivering in an impressive way. It is unusual for a high-grade gold system to have such a large footprint of 1.8 kilometers by 1.8 kilometers with over 700 meters of vertical relief from the top of the mountain down to just above the valley floor. The high-grade gold and visible gold is within a series of lodes/veins, stacked like a layer cake making up the large footprint that spans top to bottom over 1.2 kilometers. Usually in a high-grade gold system, step out drilling is done on very tight spacing, whereas our Surebet Discovery step outs in 2026 are 100 plus meters including some out as much as 750 meters. Many of our team members have extensive experience in high-grade gold systems and are somewhat astonished with the growth of the system. In addition, the continuity and predictability is rare in a high-grade gold system loaded with visible gold. We started our drilling exploration at the top of the Surebet mountain and have followed it down the mountain and still haven’t found the systems limits. With the confirmation of the Golden Gate and Bonanza Zone extensions, we will continue to move rigs to the Southwest, Northeast and Easterly directions. Now we are getting near the valley floor where key structures come together. We are delighted about the 2026 drilling season thus far and have more drilling ahead this season resulting in a steady flow of assay results, stay tuned.”

Drill hole GD-26-424 intersected the Golden Gate Zone in an interval that assayed 10.32 g/t Au over 6.00 meters, including 15.61 Au over 3.96 meters, including 33.80 g/t Au over 1.82 meters (gold only). It contained a series of quartz-sulphide veins containing multiple occurrences of Visible Gold to The Naked Eye (VG-NE) hosted in volcanic rocks. The veins contain disseminated sulphides consisting of pyrite, pyrrhotite, sphalerite, galena, and trace chalcopyrite.

Drill hole GD-25-412 intersected multiple mineralized intervals belonging to the Surebet and Golden Gate Zones. The Surebet Zone interval assayed 4.41 g/t AuEq (3.33 g/t Au and 61.14 g/t Ag) over 7.79 meters, including 8.47 g/t AuEq (6.58 g/t Au and 106.53 g/t Ag) over 3.81 meters, including 16.65 g/t AuEq (13.52 g/t Au and 179.41 g/t Ag) over 1.79 meters, within a broader interval of mineralization. This interval contains multiple occurrences of VG-NE within quartz veins and breccias associated with disseminated galena, sphalerite and pyrrhotite. The Golden Gate interval assayed 4.17 g/t AuEq (3.87 g/t Au and 7.96 g/t Ag) over 3.75 meters, including 7.52 g/t AuEq (7.07 g/t Au and 11.37 g/t Ag) over 1.94 meters within a broader interval of mineralization. This interval is characterized by several occurrences of VG-NE associated with quartz-sulphide veins containing pyrite, pyrrhotite, sphalerite and galena

All drill holes completed during the 2026 drill campaign have intersected quartz-sulphide mineralization which generally corresponds to high-grade gold mineralization. 45 out of 98 planned drill holes have been completed with a total of 25,651 meters drilled in 2026.

Table 1: Gold equivalent and gold only assay results.

Hole ID   From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu % Pb % Zn % AuEq (g/t)
GD-26-424 Interval 532.00 538.00 6.00 10.32          
Including 533.04 537.00 3.96 15.61          
Including 534.18 536.00 1.82 33.80          
GD-26-412 Interval 34.21 50.00 15.79 1.91 37.80 0.01 0.19 0.11 2.58
Including 34.21 42.00 7.79 3.33 61.14 0.01 0.31 0.15 4.41
Including 34.21 38.02 3.81 6.58 106.53 0.02 0.61 0.27 8.47
Including 34.21 37.02 2.81 8.79 129.70 0.02 0.69 0.32 11.08
Including 34.21 36.00 1.79 13.52 179.41 0.03 0.91 0.36 16.65
Interval 58.00 60.70 2.70 0.89 49.59 0.01 0.83 0.62 1.97
Interval 544.00 550.80 6.80 2.23 4.59 0.02 0.11 0.26 2.41
Including 545.90 549.65 3.75 3.87 7.96 0.03 0.20 0.45 4.17
Including 547.71 549.65 1.94 7.07 11.37 0.03 0.38 0.69 7.52

*For reported assay intervals and AuEq calculation please see QA/QC Section on page 15

The expanded Bonanza Zone has a strike of 1.8 km NW-SE and 1.8 km NE-SW (see Figure 5). Mineralization in drill core from the expanded portions of the Bonanza is characterized by the presence of VG-NE as well as sphalerite and pyrrhotite in wide (up to 7 meters) intervals consisting of sheared quartz-sulphide breccia. Previously the Bonanza Zone contained 5 lodes up to 19 meters thick with a combined thickness of up to 27 meters and intercepts up to 8.35 g/t AuEq (8.31 g/t Au and 2.30 g/t Ag) over 23.00 meters (drill hole GD-24-280) and remains open for expansion.

The expanded Golden Gate Zone has a strike of 1.6 km E-W and 1.5 km N-S (see Figure 6). Mineralization in drill core from the expanded portions of the Golden Gate Zone is characterized by sets of veins and veinlets hosted in andesitic volcanic rocks and mineralized with VG-NE, sphalerite, galena, pyrrhotite as well as trace pyrite and chalcopyrite. Previously the Golden Gate Zone contained 18 lodes up to 14 meters with a combined thickness of up to 49 meters and with intercepts up to 34.52 g/t AuEq (34.47 g/t Au and 3.96 g/t Ag) over 39.00 meters (drill hole GD-24-260) and remains open for expansion.

Visible Gold to the Naked Eye (VG-NE) has been intersected in multiple veins and shear zones from 25 out of 45 holes drilled in 2026 continuing to confirm the consistency of the mineralization within the Surebet system that remains wide open.

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 remain open for expansion and new discoveries), as well as test for the Motherlode Magmatic Gold Feeder Source, focused on defining a resource. Expansion drilling will focus on extending the footprint of the Bonanza Zone and Golden Gate Zone to the East and Northeast, as well as expanding the Surebet Zone to the West 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. Directional drilling where multiple drill holes are extended from a single mother-hole is being employed on selected drill holes in order to cut down on drill time and money spending while also increasing accuracy of drill targeting.

Table 2: Collar information for drill holes reported in this news release.

Hole ID CRS Easting (m) Northing (m) Elevation (m) Azimuth (deg) Dip (deg) Length (m)
GD-26-412 NAD83 / UTM zone 9N 457718 6162966 1485 120 83 576
GD-26-424 NAD83 / UTM zone 9N 457718 6162966 1485 115 81 579
               

Surebet Discovery Highlights

  • 100% of the drill holes completed prior to the 2026 drill season within the 1.8 km2 Surebet discovery have intersected gold mineralization clearly demonstrating consistent continuity, grades, and widths with of over 1,500 drill hole pierce points.
  • The most recent ore mineralization model (see Figure 7) incorporating all available data prior to the 2026 drill program comprises 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.

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 (see Figure 8) 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.
  • High-grade gold has been identified in three distinctive rock types, including: quartz-sulphide breccias and stockwork veins hosted in sedimentary rocks; precious and base metals bearing veins hosted in volcanic rocks; and intermediate to felsic Eocene-aged dykes. All mineralized rock types contain substantial amounts of VG-NE (from fine-grained to coarse-grained gold).
  • Preliminary metallurgical testing conducted in 2023 on a composite core sample resulted in remarkable recoveries through a combination of simple gravity and flotation of 92.2% for Au, 86.5% for Ag, 94.2% for Pb and 96.9% for Zn. Recoveries through simple and cost-effective gravity alone 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 metallurgy 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 1.8 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 key terrain of the Red Line geologic trend providing for additional discovery potential.
  • The Golddigger Property is located on tidewater with a barge route to Prince Rupert (190 km south) and close to infrastructure including the town of Kitsault adjacent 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

The scientific and technical information contained in this news release was reviewed and approved by M. Antonio Celis C., P.Geo under Engineers & Geoscientists of British Columbia (EGBC), an independent qualified person to Goliath Resources Ltd., who is responsible for ensuring that the information provided in this news release is accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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: +1.416.488.2887roger@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

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.

Figure 1a

Golden Gate Expansion Map

Figure 1b

Cross Section

Figure 2a

Highlights of Hole GD-26-414 – Golden Gate Zone

Figure 2b

Highlights of Hole GD-26-414 – Surebet Zone

Figure 3

Highlights of Hole GD-26-420 – Golden Gate Zone

Figure 4a

Visible Gold to the Naked Eye (VG-NE)

Figure 4b

Visible Gold to the Naked Eye (VG-NE) cont’

Figure 4c

Visible Gold to the Naked Eye (VG-NE) cont’

Figure 5

Plan View showing the expanded Bonanza Zone

Figure 6

Plan View showing the expanded Golden Gate Zone

Figure 7

Isometric View of the Surebet Discovery Ore Mineralization Model

Figure 8

Plan View Map of Surebet Discovery showing holes with VG-NE

Figure 9

Figure 9

  • Assay results from multiple gold-rich drill intercepts from 2026 drilling have confirmed the expansion of the Golden Gate Zone to the northeast by 320 meters of the previously known gold mineralization; it remains open laterally and at depth (see Figures 1a and 1b).
  • An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/3c8a7865-5d82-4f3a-bdda-c365345729de
  • An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/3a125625-e447-4dce-a6ea-0366b578c1e1  
  • Drill hole GD-26-414 intersected multiple mineralized intervals belonging to the Surebet and Golden Gate zones. The Surebet Zone interval assayed 2.81 g/t Au over 4.00 m, including 9.79 g/t Au over 1.00 m part of the Surebet Zone. This first interval contains multiple occurrences of VG-NE within quartz-sulphide veins and breccias with substantial calc-silicate alteration. The Golden Gate interval assayed 9.87 g/t Au over 5.00 m, including 65.65 g/t Au over 0.75 m part of the Golden Gate Zone. This second interval is characterized by several occurrences of VG-NE associated with quartz-sulphide veins containing lenses of semi-massive pyrrhotite, galena, sphalerite, and minor chalcopyrite (see figures 2a and 2b).
  • An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/d5ecb5de-6997-42dd-980f-ec8b96f5a385

*For reported assay intervals and AuEq calculation please see QA/QC Section on page 15

 *For reported assay intervals and AuEq calculation please see QA/QC Section on page 15

  • Drill hole GD-25-420 extended the Golden Gate Zone by 320 meters to the Northeast. The interval assayed 6.51 g/t AuEq (6.16 g/t Au and 7.27 g/t Ag) over 5.73 m, including 13.49 g/t AuEq (12.79 g/t Au and 14.12 g/t Ag) over 2.73 m, including 36.27 g/t AuEq (34.43 g/t Au and 35.17 g/t Ag) over 0.97 m consisting of a series of broad quartz-sulphide veins hosted in volcanic rocks where VG-NE occurs in association with semi-massive pyrrhotite, sphalerite, pyrite and galena (see Figure 3).
  • An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/239a9db9-6717-495c-8272-c6056e4f5a64

  *For reported assay intervals and AuEq calculation please see QA/QC Section on page 15

  • Visible Gold to the Naked Eye (VG-NE) has been intersected in multiple veins and shear zones from 20 out of 35 holes drilled in 2026 continuing to confirm consistency of gold mineralization within the Surebet vein system that remains open laterally and at depth (see Figures 4a, 4b and 4c).
  • An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/26a2be5d-323a-4351-8033-cb697af602df
  • An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/4edbb9f7-f696-4b18-8cde-104460b37386
  • An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/9fc511f4-ca97-43b8-8c04-2f5a913b935b
  • All drill holes completed during the 2026 drill campaign have intersected quartz-sulphide mineralization which generally corresponds to high-grade gold mineralization. 44 out of 98 planned drill holes have been completed with a total of 23,863 meters drilled in 2026.
  • The fully funded 2026 planned drill program will include approximately 50,000 meters of systematic drilling with 7 drill rigs designed to expand the known mineralization laterally and to depth in order to test the extent of the Surebet discovery as well as the potential location of the Motherlode Feeder Source, focused on defining a resource. The system remains open in multiple directions.
  • Expansion drilling will continue to focus on extending the footprint of the Bonanza Zone and Golden Gate Zone to the East and Northeast as well as expanding the Surebet Zone to the West and testing other gold-rich mineralized lodes/veins that remain open.
  • Directional drilling where multiple drill holes are extended from a single mother-hole is being employed on selected drill holes in order to cut down on drill time and money spending while also increasing accuracy of drill targeting.

TORONTO, Aug. 10, 2026 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report assay results that confirm the expansion of the Golden Gate Zone to the Northeast by 320 meters of the previously known gold mineralization on its 100% owned Golddigger Property (the “Property”), Golden Triangle, British Columbia. The Golden Gate Zone remains open laterally and at depth.

Dr. Quinton Hennigh, Advisor to Goliath and Strategic Investor commented: “When I spoke with the Company prior to this drill season, they made it abundantly clear that a considerable number of the planned drill holes would test extensions of various lode systems at the Surebet Discovery. Given that there remains exceptional opportunity to grow the systems high-grade gold footprint, I was delighted to hear this. We are now seeing the impact of this strategic decision. Drill hole GD-26-420 encountered a 6.51 g/t AuEq over 5.73 meters across the Golden Gate lode in a position 320 meters northeast of its previous limit. I believe we will continue to see many further drill extensions over the course of the rest of the 2026 and the Surebet Discovery is only going to keep on growing with every drill program.”

Mr. Roger Rosmus, Founder & CEO of Goliath states: “Our team is performing like a well-oiled machine. The goal of this 2026 drilling campaign is expansion and the directional drilling being utilized is paying off with the step outs being successful. The 320 meter step out of Golden Gate to the northeast is one example and nice surprise along the way. It is worth noting the amount of visible gold to the naked eye in the drill holes since we started drilling the Surebet discovery is unique, as well high-grade gold systems are not known to have such large footprints. After over 400+ drill holes have been completed to date the system remains open laterally and at depth. Grass roots High -grade gold systems tend to get challenging to grow them. But Surebet discovery is the opposite, we are challenging the geology and having no problems growing the system with aggressive step outs. The cadence of drill holes getting to the lab for assays is ideal, and we hope to have plenty more assay results throughout the rest of the year and into 2027.”

Drill hole GD-26-414 intersected multiple mineralized intervals belonging to the Surebet and Golden Gate zones. The Surebet Zone interval assayed 2.81 g/t Au over 4.00 m, including 9.79 g/t Au over 1.00 m part of the Surebet Zone. This first interval contains multiple occurrences of VG-NE within quartz-sulphide veins and breccias with substantial calc-silicate alteration. The Golden Gate interval assayed 9.87 g/t Au over 5.00 m, including 65.65 g/t Au over 0.75 m part of the Golden Gate Zone. This second interval is characterized by several occurrences of VG-NE associated with quartz-sulphide veins containing lenses of semi-massive pyrrhotite, galena, sphalerite, and minor chalcopyrite.

Drill hole GD-25-420 intersected the Golden Gate Zone extending it by 320 meters to the Northeast. This interval assayed 6.51 g/t AuEq (6.16 g/t Au and 7.27 g/t Ag) over 5.73 m, including 13.49 g/t AuEq (12.79 g/t Au and 14.12 g/t Ag) over 2.73 m, including 36.27 g/t AuEq (34.43 g/t Au and 35.17 g/t Ag) over 0.97 m consisting of a series of broad quartz-sulphide veins hosted in volcanic rocks where VG-NE occurs in association with semi-massive pyrrhotite, sphalerite, pyrite and galena.

All drill holes completed during the 2026 drill campaign have intersected quartz-sulphide mineralization which generally corresponds to high-grade gold mineralization. 44 out of 98 planned drill holes have been completed with a total of 23,863 meters drilled in 2026.

Table 1: Gold equivalent and gold only assay results.

Hole ID   From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu % Pb % Zn % AuEq (g/t)
GD-26-414 Interval 35.00 39.00 4.00 2.81          
Including 35.00 38.00 3.00 3.60          
Including 36.00 37.00 1.00 9.79          
Interval 45.80 51.45 5.65 1.73          
Including 47.65 51.45 3.80 2.53          
Including 48.78 51.45 2.67 3.43          
Including 50.65 51.45 0.80 7.80          
Interval 509.00 514.00 5.00 9.87          
Including 510.00 512.80 2.80 17.61          
Including 510.91 511.66 0.75 65.65          
GD-26-420 Interval 542.27 548.00 5.73 6.16 7.27 0.01 0.10 0.79 6.51
Including 542.27 545.00 2.73 12.79 14.12 0.02 0.17 1.61 13.49
Including 542.27 544.10 1.83 18.79 20.68 0.03 0.25 2.38 19.82
Including 543.13 544.10 0.97 34.43 35.17 0.05 0.41 4.44 36.27

The expanded Bonanza Zone has a strike of 1.8 km NW-SE and 1.8 km NE-SW. Mineralization in drill core from the expanded portions of the Bonanza is characterized by the presence of VG-NE as well as sphalerite and pyrrhotite in wide (up to 7 meter) intervals consisting of sheared quartz-sulphide breccia. Previously the Bonanza Zone contained 5 lodes up to 19 meters thick with a combined thickness of up to 27 meters and intercepts up to 8.35 g/t AuEq (8.31 g/t Au and 2.30 g/t Ag) over 23.00 meters (drill hole GD-24-280) and remains open for expansion.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/7002880e-3cbe-4866-8165-6c100131bd57 

The expanded Golden Gate Zone has a strike of 1.6 km E-W and 1.5 km N-S. Mineralization in drill core from the expanded portions of the Golden Gate Zone is characterized by sets of veins and veinlets hosted in andesitic volcanic rocks and mineralized with VG-NE, sphalerite, galena, pyrrhotite as well as trace pyrite and chalcopyrite. Previously the Golden Gate Zone contained 18 lodes up to 14 meters with a combined thickness of up to 49 meters and with intercepts up to 34.52 g/t AuEq (34.47 g/t Au and 3.96 g/t Ag) over 39.00 meters (drill hole GD-24-260) and remains open for expansion.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/3f2a775a-683b-45f6-8444-44f410ca4971 

Visible Gold to the Naked Eye (VG-NE) has been intersected in multiple veins and shear zones from 26 out of 38 holes drilled in 2026 continuing to confirm the consistency of the mineralization within the Surebet system that remains wide open.

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 remain open for expansion and new discoveries), as well as test for the Motherlode Magmatic Gold Feeder Source, focused on defining a resource. Expansion drilling will focus on extending the footprint of the Bonanza Zone and Golden Gate Zone to the East and Northeast, as well as expanding the Surebet Zone to the West 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. Directional drilling where multiple drill holes are extended from a single mother-hole is being employed on selected drill holes in order to cut down on drill time and money spending while also increasing accuracy of drill targeting.

Table 2: Collar information for drill holes reported in this news release.

Hole ID CRS Easting (m) Northing (m) Elevation (m) Azimuth (deg) Dip (deg) Length (m)
GD-26-414 NAD83 / UTM zone 9N 457718 6162966 1486 115 81 578
GD-26-420 NAD83 / UTM zone 9N 457718 6162966 1485 115 81 608

Surebet Discovery Highlights

  • 100% of the drill holes completed prior to the 2026 drill season within the 1.8 km2 Surebet discovery have intersected gold mineralization clearly demonstrating consistent continuity, grades, and widths with of over 1,500 drill hole pierce points.
  • The most recent ore mineralization model (see Figure 7) incorporating all available data prior to the 2026 drill program comprises 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.

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

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/001cc994-a5c4-41fb-a8d7-8951ccf60657 

  • 92% of the holes (355 out of 386) drilled prior to the 2026 drill season at Surebet contain VG-NE (see Figure 8) 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.
  • An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/36d1fae3-074a-4cce-a1aa-19b67cbbe881
  • High-grade gold has been identified in three distinctive rock types, including: quartz-sulphide breccias and stockwork veins hosted in sedimentary rocks; precious and base metals bearing veins hosted in volcanic rocks; and intermediate to felsic Eocene-aged dykes. All mineralized rock types contain substantial amounts of VG-NE (from fine-grained to coarse-grained gold).
  • Preliminary metallurgical testing conducted in 2023 on a composite core sample resulted in remarkable recoveries through a combination of simple gravity and flotation of 92.2% for Au, 86.5% for Ag, 94.2% for Pb and 96.9% for Zn. Recoveries through simple and cost-effective gravity alone 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 metallurgy 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 1.8 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 key terrain of the Red Line geologic trend providing for additional discovery potential.
  • The Golddigger Property is located on tidewater with a barge route to Prince Rupert (190 km south) and close to infrastructure including the town of Kitsault adjacent 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

The scientific and technical information contained in this news release was reviewed and approved by M. Antonio Celis C., P.Geo under Engineers & Geoscientists of British Columbia (EGBC), an independent qualified person to Goliath Resources Ltd., who is responsible for ensuring that the information provided in this news release is accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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: +1.416.488.2887roger@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 formula accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/428c5efa-0043-4f8f-9057-565932f26cb3

There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences 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.

Vancouver, British Columbia–(Newsfile Corp. – July 23, 2026) – Gold Runner Exploration Inc. (CSE: GRUN) (FSE: CE70) ("Gold Runner" or the "Company") is pleased to announce that it has received a 5-year drilling permit from the BC Ministry of Mines and Critical Minerals for its Golden Girl Property ("Golden Girl" or "Golden Girl Property"). The drilling permit is valid and in good standing until March 31, 2031 and allows for up to 100 drilling locations on the Golden Girl Property.

The 2026 surface exploration program is underway as scheduled with mobilization completed on July 12, 2026, and field work having begun on July 13, 2026. Thanks to a number of early new discoveries and the exceptional work done by the field crew, the first batch of samples from the Golden Girl Property were rushed to MSA Labs in Terrace, BC for analysis on July 20, 2026. It is anticipated that rock, grab, and channel cut sample batches will be shipped to the Lab at regular intervals throughout the summer 2026 field campaign. During this summer campaign, the team will be identifying and locating priority drill targets for our future inaugural drill program. The Company is fully funded for this season's surface exploration and its follow-on inaugural drill program.

Chris Wensley, CEO of Gold Runner Exploration, states, "Our field team has wasted no time digging in and locating new mineralized showings and structures. The rapid addition of new discoveries on the property and the collection of compelling samples so early in the program bodes extremely well for the balance of the season. We are very excited and encouraged by what we are seeing on the ground which makes it imperative to get a sense and understanding of these early samplings from new zones of discovery. This will be a big help in zeroing in on and tracing the scope and extension of continuous mineralization. We look forward to sharing results of this exciting program and continuing to unlock value for our share holders."

The 2026 exploration program includes: Airborne Magnetic survey and Radiometric survey (completed, see news release dated July 7, 2026); Mapping, sampling, and channel cutting (under way July 13, 2026); and LiDAR survey and Photogrammetry (commencing Aug 12, 2026).

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/7042/306183_19fefe60d44cbb9b_002full.jpg

Golden Girl Highlights

  • The Golden Girl Property covers 8,471 hectares in the prolific Iskut River region of Northwestern British Columbia, located just 17 km from the Snip Mine and 14 km from the Bronson Airstrip.
  • Discovery exploration in 2024 identified a major new gold-silver system measuring 12 km by 7 km with high grade gold-silver mineralization:
    • Grab samples assayed up to 11.28 g/t Au, 3,262 g/t Ag, 5.37% Cu, 20% Pb, and 14.15% Zn.
    • Channel cuts assayed up to 3.74 g/t Au, 2,105.45 g/t Ag, 0.88% Cu, 5.48% Pb, and 7.42% Zn.
  • High-grade mineralization occurs in structurally controlled shear zones with sulphide-rich veins, stockwork, and breccias, similar to the nearby past-producing Snip Gold Mine (which historically produced ~1M oz Au, 390k oz Ag, and over 249k kg Cu). (The reader is reminded that the information provided herein from neighbouring projects and properties is not necessarily indicative of resources and should not be relied upon for the determination of mineralization or potential results of the Company's properties).
  • More than 95% of the property has never undergone systematic modern exploration. Recent rapid glacial retreat and melting snowpacks have exposed vast areas of previously buried bedrock, opening large, untouched tracts of ground for immediate mapping and sampling.

The Company's summer 2026 exploration team, led by geologist, Nicolai Goeppel and partner, Ryan Purnell, are the same team that helped discover Juggernaut Exploration's (TSXV: JUGR) Big One discovery and Goliath Resources (TSXV: GOT) Surebet discovery. Their long-term experience and success in this world-renowned, Golden Triangle region of northwestern British Columbia brings an intimate and deep understanding of the Terrane.

Both Goliath Resources and Juggernaut Exploration are partners within the B-ALL Syndicate ("B-ALL"), the optionor of Golden Girl, holding respectively, 4% and 13% interest in B-ALL, and as such are important strategic partners of the Company. Golden Girl is located approximately mid-way between Goliath's Surebet Discovery and Juggernaut's Big One discovery in the Golden Triangle.

Qualified PersonThis News Release has been approved by Alan Morris, M.Sc., CPG #10550. Alan J. Morris is an independent, Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101) and has reviewed the scientific and technical disclosure included in this news release.

On Behalf of the Board of Directors,

"Chris Wensley"

Chris Wensley, Director & Chief Executive Officer

About Gold Runner Exploration Inc.

Gold Runner Exploration is an exploration company focused on the exploration and development of its portfolio of gold and silver properties located in prolific mining districts of Canada and the United States of America. In British Columbia, Gold Runner holds the option to acquire a 100% interest in the Golden Girl Property, located in the prolific Golden Triangle of Northwestern British Columbia. In North Central Nevada, the Company holds the Rock Creek gold project, the Falcon Mine project and the Dry Creek project, located in the Tuscarora Mountains in close proximity to the world-renowned Carlin Trend. Gold Runner also holds a 10% carried interest in the Cimarron project located in the San Antonio Mountains of Nye County, Nevada, within the Walker Lane Trend.

About B-ALL Syndicate Ltd.

The B-ALL Syndicate is a highly specialized geologic team of project generators with a proven track record of success. The Syndicate is focused in unexplored areas of glacial and snowpack retreat providing new opportunity for material discovery in renowned geologic terrain. Projects generated by the same team include Goliath Resources' Surebet discovery on the Golddigger Property, Juggernaut Exploration's Big One discovery as well as multiple additional material discoveries. More information is available at https://www.ball-syndicate.com/.

For further information please contact:Chris Wensley, Chief Executive Officer and Director 639 5th Ave, Suite 1250Calgary, Alberta T2P 0M9Website: www.goldrunnerexploration.com Email: info@goldrunnerexploration.com

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Forward-Looking Information This news release includes certain information that may be deemed "forward-looking information" under applicable securities laws. All statements in this release, other than statements of historical facts, including but not limited to those that address the Company's summer exploration program, the properties exploration work and its results and potential, interpretations prospecting and exploration activities, geological, geophysical, and geochemical surveys, studies and interpretations of historical exploration and geological information, permitting, licences, environmental laws and regulations, changes in government regulations and laws, obtaining social licence to explore and operate, community engagements, timing of exploration activities, economic, competitive, reliance on third parties, the actual results of operations, and other risks of the natural resources industry, and mineral resource and reserve potential, exploration activities and events or developments that the Company expects is forward-looking information. There are certain factors that could cause actual results to differ materially from those in the forward-looking information and these include the results of the Company's summer exploration program, market prices, exploration successes, continued availability of capital financing, and general economic, market or business conditions, and those additionally described in the Company's filings with the Canadian securities authorities. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company's public filings at www.sedarplus.ca. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306183

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  • The expanded Bonanza Zone has a strike of 1.8 km NW-SE and 1.8 km NE-SW. Previously the Bonanza Zone contained 5 lodes up to 19 meters thick with a combined thickness of up to 27 meters and intercepts up to 8.35 g/t AuEq (8.31 g/t Au and 2.30 g/t Ag) over 23.00 meters (drill hole GD-24-280) and remains open for expansion.  
  • Mineralization in drill core from the expanded portions of the Bonanza is characterized by the presence of sphalerite and pyrrhotite in wide (up to 11.35 m) intervals consisting of sheared quartz-sulphide breccia (see image below).
  • Multiple step-out intercepts of mineralization have expanded the Golden Gate Zone by 400 meters to the south and 200 meters to the north, see image below. It remains open and assays are pending.
  • The expanded Golden Gate Zone has a strike of 1.6 km E-W and 1.5 km N-S. Previously the Golden Gate Zone contained 18 lodes up to 14 meters with a combined thickness of up to 49 meters and with intercepts up to 34.52 g/t AuEq (34.47 g/t Au and 3.96 g/t Ag) over 39.00 meters (drill hole GD-24-260) and remains open for expansion.
  • Mineralization in drill core from the expanded portions of the Golden Gate Zone is characterized by numerous sets of veins and veinlets hosted in andesitic volcanic rocks and mineralized with gold visible to the naked eye (VG-NE), sphalerite, galena, pyrrhotite as well as trace pyrite and chalcopyrite (see images below).
  • Expansion drilling will continue to focus on extending the footprint of the Bonanza Zone and Golden Gate Zone to the East and Northeast as well as expanding the Surebet Zone to the West and testing other gold-rich mineralized lodes/veins that remain open.
  • Directional drilling where multiple drill holes are extended from a single mother-hole is being employed on selected drill holes in order to cut down on drill time and money spent while also increasing accuracy of drill targeting; thus far, all drill targets have been successfully intercepted using this method.
  • The fully funded 2026 planned drill program will include approximately 50,000 meters of systematic drilling with 7 drill rigs designed to expand the known mineralization laterally and to depth in order to test the extent of the Surebet Discovery as well as the potential location of the Motherlode Feeder Source. The system remains open in multiple directions.

TORONTO, July 15, 2026 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report that initial drilling in the southwest area of the Surebet system has resulted in the expansion of the Bonanza Zone by 750 meters as well as the Golden Gate Zone by 600 meters on its 100% owned Golddigger Property (the “Property”), Golden Triangle, British Columbia. All drill holes completed during the 2026 drill campaign have intersected quartz-sulphide mineralization which generally corresponds to high-grade gold mineralization. 10 out of 107 planned drill holes have been completed with a total of 4,983 m drilled in 2026. Assays are pending on all 2026 drill holes completed to date.

Mr. Kevin Smith, Founder, CEO, CIO of Crescat Capital and strategic investor states: “Goliath continues to be one of our top ten holdings across our private funds. We have been a long-term supporter and continue to be impressed by the potential for this discovery to expand by drilling this wide-open, high-grade gold system. The abundance of visible gold in the first 10 holes this season is exciting. While the results are primarily visuals so far, who doesn’t like VG! Can’t wait to see the assays and steady stream of news to come as this large drill campaign continues, and this is just the beginning.  A fully funded 50,000+ meter planned program with 7 drill rigs…that’s the way it is done. Way to go, Roger and team!”

Mr. Roger Rosmus, Founder & CEO of Goliath states: “Our 2026 drilling campaign is off to a strong start, with two key goals in mind: 1) extensively drill the area where Surebet, Bonanza and Golden Gate meet (hinge zones), which consistently shows high grade gold mineralization, and we believe one day would be an ideal starting point for mining operations at Surebet; and 2) explore and drill test new areas that expand the currently known extent of the mineralization, focusing on the expansion of the Bonanza Zone (now confirmed to the southwest) as well as the Golden Gate Zone (now confirmed to the south and north). Currently, we have 5 drills working and we will have 7 drills turning shortly. Since the initial discovery we have drilled over 156,000 meters with 100% hit rate of mineralization in a series of stacked lodes/veins and a remarkable 92% (355 out of 386) of the holes containing VG-NE. Our geological team is guided by the high-grade gold occurring in three distinct rock packages and have planned a drilling program focused on adding to the discoveries. Each year of drilling has enabled the discoveries to grow and have led to several pleasant surprises along the way. We are delighted with the beginning of our 2026 drilling season and look forward to a strong news flow over the remainder of the year.”

The expanded Bonanza Zone has a strike of 1.8 km NW-SE and 1.8 km NE-SW. Mineralization in drill core from the expanded portions of the Bonanza is characterized by the presence of sphalerite and pyrrhotite in wide (up to 7 m) intervals consisting of sheared quartz-sulphide breccia. Previously the Bonanza Zone contained 5 lodes up to 19 meters thick with a combined thickness of up to 27 meters and intercepts up to 8.35 g/t AuEq (8.31 g/t Au and 2.30 g/t Ag) over 23.00 meters (drill hole GD-24-280) and mineralized with gold visible to the naked eye (VG-NE); it remains open for expansion.

The expanded Golden Gate Zone has a strike of 1.6 km E-W and 1.5 km N-S. Mineralization in drill core from the expanded portions of the Golden Gate Zone is characterized by numerous sets of veins and veinlets hosted in andesitic volcanic rocks and mineralized with VG-NE, sphalerite, galena, pyrrhotite as well as trace pyrite and chalcopyrite. Previously the Golden Gate Zone contained 18 lodes up to 14 meters with a combined thickness of up to 49 meters and with intercepts up to 34.52 g/t AuEq (34.47 g/t Au and 3.96 g/t Ag) over 39.00 meters (drill hole GD-24-260) and remains open for expansion.

Gold visible to the naked eye (VG-NE) has been intersected in multiple veins and shear zones from 6 out of 10 holes drilled in 2026 continuing to confirm the consistency of the mineralization within the Surebet system that remains wide open.

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 remain open for expansion and new discoveries), as well as test for the Motherlode Magmatic Gold Feeder Source, focused on defining a resource. Expansion drilling will focus on extending the footprint of the Bonanza Zone and Golden Gate Zone to the East and Northeast, as well as expanding the Surebet Zone to the West 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. Directional drilling where multiple drill holes are extended from a single mother-hole is being employed on selected drill holes in order to cut down on drill time and money spending while also increasing accuracy of drill targeting; thus far, all drill targets have been successfully intercepted using this method.

Surebet Discovery Highlights

  • 100% of the drill holes completed prior to the 2026 drill season within the 1.8 km2 Surebet discovery have intersected gold mineralization clearly demonstrating remarkable continuity, grades, and widths with of over 1,500 drill hole pierce points.
  • The updated geological model incorporating all available data prior to the 2026 drill campaign identifies 5 primary mineralized gold-rich zones: Bonanza, Surebet, Golden Gate, Whopper, and Eldorado. Collectively these zones comprise 46 gold-rich stacked lodes/veins and associated vertical Eocene-aged dykes.
Zone Number of lodes/veins Dimensions Key Intercept Status
Bonanza 5 1.8 km x 1.3 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 1.3 km x 1.0 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
  •  
  • The gold-rich Eocene-aged dykes extend for up to 1.4 km N-S and a vertical relief of up to 890 meters with widths up to 25 meters and intercepts up to 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters (drill hole GD-22-58) and remain open for expansion.
  • 355 out of 386 drill holes representing 92% of holes drilled between 2021 – 2025 at Surebet contain VG-NE.
  • High-grade gold has been identified in three distinct rock packages identified to date at the Surebet Discovery. This includes the gold-rich stacked quartz-sulphide breccias and stockwork veins hosted in the sedimentary units; the precious and base metals bearing veins hosted in the volcanic units; and the gold-rich 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 remarkable recoveries through a combination of simple gravity and flotation of 92.2% for Au, 86.5% for Ag, 94.2% for Pb and 96.9% for Zn. Recoveries through simple and cost-effective gravity alone 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 metallurgy completed to date shows a benign rock composition without deleterious elements (see news release March 1, 2023).
  • The remarkable continuity, widths and grades demonstrated by >156,000 meters of drilling in multiple lodes shows this extensive 1.8 km2 gold system continues to demonstrate strong potential to become one of the most significant gold discoveries in British Columbia’s Golden Triangle in many years.
  • 92% of the holes (355 out of 386) drilled prior to the 2026 drill season at Surebet contain VG-NE (see VG-NE heat map above) and 100% of holes drilled to date at the Surebet Discovery have intersected substantial 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.
  • 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.
  • Thanks to the mountainous topography, mineralization in the veins is exposed on the surface for 2.1 km of strike (1.0 km on the south slope and 1.1 km on the north slope) with a vertical relief of 700 meters.
  • A study completed by the Colorado School of Mines confirms a new interpretation of the ore forming process of high-grade gold mineralization at Surebet and outlines a common magmatic source for the high-grade gold system in three distinct rock packages. This gives the Surebet untapped discovery potential to increase tonnage and gold content in the various known rock packages. 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 key terrain of the Red Line geologic trend providing for additional discovery potential.
  • The Golddigger Property is located on tidewater with a barge route to Prince Rupert (190 km south) and close to infrastructure including the town of Kitsault adjacent 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, in close proximity to the Red Line, 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 predictable continuity and good metallurgy with gold recoveries from gravity and flotation at a 327-micrometer crush of 92.2% including 48.8% free gold from gravity alone (no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements are present (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 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 of British Columbia and houses an international container seaport also with direct access to railway and an airport.

Qualified Person

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: +1.416.488.2887roger@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.

QA/QC Protocol

Oriented HQ-diameter or NQ-diameter diamond drill core from the drill campaign 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. Drill holes were planned using Leapfrog GeoTM and QGISTM software and data from the 2017-2025 exploration campaigns. 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.

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%.

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.

Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and Gold Equivalent (AuEq) metal values are calculated using: 4,932.69 Au USD/oz, Ag 84.916 USD/oz, Cu 6.07 USD/lbs, Pb 1,964.45 USD/ton and Zn 3,328.50 USD/ton (updated on February 3, 2026). The widths of the mineralized intervals reported in this news release 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.

There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences 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.

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.

Goliath Resources (GOT.V) has commenced a 50,000-meter expansion drill program at the Surebet discovery on its Golddigger property in British Columbia.nnTwo drills are currently on site and five additional drills are expected to arrive shortly.nnThe campaign is designed to expand the known mineralization laterally and to depth in order to test the extent of the Surebet discovery, as well as the potential location of the Motherlode feeder source. The system remains open in multiple directions, Goliath said.nnExpansion drilling will focus on extending the footprint of the Bonanza zone and Golden Gate zone to the east, northeast and southwest, as well as expanding the Surebet zone to the west and testing other gold-rich mineralized lodes/veins that remain open.nn"Each season the Surebet high-grade gold discovery gets bigger and delivers pleasant surprises, we are delighted to get the 2026 drilling season underway," chief executive Roger Rosmus said.nnGoliath's key strategic cornerstone shareholders include McEwen (MUX.TO).nn

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  • Drilling has commenced on the high-grade gold Surebet Discovery with 2 drills on site and 5 additional drills arriving shortly for a total of 7 drill rigs to carry out the fully funded 2026 planned drill program. 
  • This year’s plan is targeting 50,000 meters of systematic drilling designed to expand the known mineralization laterally and to depth in order to test the extent of the Surebet discovery as well as the potential location of the Motherlode Feeder Source. The system remains open in multiple directions.
  • Expansion drilling will focus on extending the footprint of the Bonanza Zone and Golden Gate Zone to the East, Northeast and Southwest as well as expanding the Surebet Zone to the West and testing other gold-rich mineralized lodes/veins that remain open, based on the surface expression of the zones observed in outcrop:
  • Additional drilling will be allocated to test a magnetic anomaly in the southwestern part of the system which is spatially associated with lithological and structural datasets and strongly indicates the presence of a Motherlode causative magmatic intrusion gold feeder source; see image below.
  • A drill core re-logging program is underway focused on better delineating the gold-rich shear zones and veins based on the improved understanding of the geometry and grade distribution as a result of the updated geological model of the Surebet system that remains open.

TORONTO, June 17, 2026 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report that drilling has commenced at the high-grade gold Surebet discovery on its 100% owned Golddigger Property (the “Property”), Golden Triangle, British Columbia. The fully funded drill program 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 Zone and Golden Gate Zone to the East, Northeast and Southwest, as well as expanding the Surebet Zone to the West 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.

Every drill hole completed to date (2021 – 2025) within the 1.8 km2 Surebet discovery has successfully intersected gold mineralization. These results confirm predictable continuity, grade, and width across 5 gold-rich zones comprising 46 distinct stacked lodes/veins, all of which remain open for expansion. Visible gold to the naked eye (VG-NE) is found in 92% of the drill holes to date at the Surebet Discovery, in three distinct rock packages, with the VG-NE widespread in the majority of the known lodes/veins. The remarkable continuity, widths and grades encountered across multiple lodes/veins underscore the significance of this large gold system which has strong potential to become one of the most significant gold discoveries in British Columbia’s Golden Triangle in many years. Success to date has effectively vectored toward several open targets, providing a strong foundation for further expansion in the 2026 drilling campaign.

Building on the updated geological model of the Surebet system, a drill core re-logging program is currently underway. This re-logging program focuses on better defining the gold-rich shear zones and veins by applying the improved understanding of the system's geometry and grade distribution based on the updated 3D model.

Mr. Roger Rosmus, Founder & CEO of Goliath states: “Goliath is fortunate to have an elite team of geologists, drillers and support staff that have done a remarkable job every drilling season. They have pulled off what few teams are able to do in a year of drilling over a few months. To date, we have found a series of stacked lodes/veins that are gently dipping, similar to the Pogo Mine in Alaska which was found when gold was much lower than its current price. Of particular note about Surebet is the 100% hit rate for drill holes intersecting gold mineralization, with 92% intersecting VG-NE. These facts alone make Surebet a unique high-grade gold system. Especially considering that the VG-NE is widespread over a large area in three distinct rock packages putting it in a class that only a few discoveries worldwide can boast of having found in their drill holes. It is still somewhat surprising that after 156,000 meters drilled to date, that we have still not reached the limits of the system. Considering the geochemical signatures as we drill further down the mountain toward the valley floor, and that the VG-NE is getting more coarse and abundant, they are great tools for vectoring to the source and also indicate we are likely still high in the system. This season, we have a few key goals, one is to keep following the stacked veins laterally to expand on the Surebet lodes/veins and the Bonanza lodes/veins, plus testing a possible source that has a large concurrent geophysical anomaly. Each season the Surebet high-grade Gold Discovery gets bigger and delivers pleasant surprises, we are delighted to get the 2026 drilling season underway.”

Surebet Discovery Highlights

  • 100% of the drill holes completed to date within the 1.8 km2 Surebet discovery have intersected gold mineralization clearly demonstrating remarkable continuity, grades, and widths with of over 1,500 drill hole pierce points.
  • The updated geological model incorporating all currently available data identifies 5 primary mineralized gold-rich zones: Bonanza, Surebet, Golden Gate, Whopper, and Eldorado. Collectively these zones comprise 46 gold-rich stacked lodes/veins and associated vertical Eocene-aged dykes.
Zone Number of lodes/veins Dimensions Key Intercept Status
Bonanza 5 1.8 km x 1.3 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 1.3 km x 1.0 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

An accompanying infographic is available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/31a03ed0-f8de-479f-8e96-128560c7d5d2

  • The gold-rich Eocene-aged dykes extend for up to 1.4 km N-S and a vertical relief of up to 890 meters with widths up to 25 meters and intercepts up to 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters (drill hole GD-22-58) and remain open for expansion.
  • 355 out of 386 drill holes representing 92% of holes drilled to date (2021 – 2025) at Surebet contain Visible Gold to The Naked Eye (VG-NE); see map below.
  • High-grade gold has been identified in three distinct rock packages identified to date at the Surebet Discovery. This includes the gold-rich stacked quartz-sulphide breccias and stockwork veins hosted in the sedimentary units; the precious and base metals bearing veins hosted in the volcanic units; and the gold-rich 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 remarkable recoveries through a combination of simple gravity and flotation of 92.2% for Au, 86.5% for Ag, 94.2% for Pb and 96.9% for Zn. Recoveries through simple and cost-effective gravity alone 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 metallurgy completed to date shows a benign rock composition without deleterious elements (see news release March 1, 2023).
  • The remarkable continuity, widths and grades demonstrated by >156,000 meters of drilling in multiple lodes shows this extensive 1.8 km2 gold system continues to demonstrate strong potential to become one of the most significant gold discoveries in British Columbia’s Golden Triangle in many years.
  • 92% of the holes (355 out of 386) drilled to date at Surebet contain VG-NE (see VG-NE heat map above) and 100% of holes drilled to date at the Surebet Discovery have intersected substantial 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.
  • 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.
  • Thanks to the mountainous topography, mineralization in the veins is exposed on the surface for 2.1 km of strike (1.0 km on the south slope and 1.1 km on the north slope) with a vertical relief of 700 meters.
  • A study completed by the Colorado School of Mines confirms a new interpretation of the ore forming process of high-grade gold mineralization at Surebet and outlines a common magmatic source for the high-grade gold system in three distinct rock packages. This gives the Surebet untapped discovery potential to increase tonnage and gold content in the various known rock packages. 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 key terrain of the Red Line geologic trend providing for additional discovery potential.
  • The Golddigger Property is located on tidewater with a barge route to Prince Rupert (190 km south) and close to infrastructure including the town of Kitsault adjacent 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, in close proximity to the Red Line, 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 predictable continuity and good metallurgy with gold recoveries from gravity and flotation at a 327-micrometer crush of 92.2% including 48.8% free gold from gravity alone (no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements are present (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 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 of British Columbia and houses an international container seaport also with direct access to railway and an airport.

Qualified Person

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.

Option Grant

The Company has granted a total of 500,000 stock options for a five-year period to an advisor of the Company priced at $1.49 per share which will vest immediately. The grant of the options is subject to Goliath’s omnibus equity incentive plan.

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: +1.416.488.2887roger@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.

QA/QC Protocol

Oriented HQ-diameter or NQ-diameter diamond drill core from the drill campaign 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. Drill holes were planned using Leapfrog GeoTM and QGISTM software and data from the 2017-2025 exploration campaigns. 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.

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%.

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.

Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and Gold Equivalent (AuEq) metal values are calculated using: 4,932.69 Au USD/oz, Ag 84.916 USD/oz, Cu 6.07 USD/lbs, Pb 1,964.45 USD/ton and Zn 3,328.50 USD/ton (updated on February 3, 2026). The widths of the mineralized intervals reported in this news release 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.

There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences 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.

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.

Transaction Creates the First Publicly Listed U.S. Rare Earth Recycling Company — Onshoring Critical Mineral Supply Chains and Eliminating America's Dependence on China

NEW YORK, June 01, 2026 (GLOBE NEWSWIRE) —

Hall Chadwick Acquisition Corp. (“HCAC”), a Nasdaq-listed special purpose acquisition company, today announced that it has entered into a definitive business combination agreement (the “BCA”) with REEcycle Holdings, Inc. (“REEcycle”), a pioneering U.S.-based rare earth element recycling company. Upon closing of the BCA (the “Closing”), the combined company to be named REEcycle Inc., is expected to be listed on Nasdaq and would currently be the only publicly traded pure-play rare earth recycling platform in the United States.

The transaction contemplated by the BCA (the “Transaction”) represents a direct response to one of America's most urgent national security and industrial imperatives: the establishment of a domestic, China-independent supply chain for rare earth elements (“REEs”) — materials that are indispensable to electric vehicles, advanced defense systems, consumer electronics, and next-generation clean energy infrastructure.

TRANSACTION HIGHLIGHTS

  • The Transaction values REEcycle at a total equity value of US$400 million, of which US$50 million is contingent upon achieving an annualised run rate of 50 metric tonnes per annum of mixed rare earth oxide
  • The combined company is expected to be well-capitalised at the Closing, with a minimum of US$40 million in unrestricted cash available to drive the development and commercialisation of REEcycle's rare earth recycling operations
  • Upon the Closing, REEcycle is expected to be listed on the Nasdaq Stock Market, providing access to U.S. capital markets and enhanced profile with institutional and strategic investors 
  • The BCA and the Transaction have been unanimously approved by the boards of directors of both HCAC and REEcycle
  • HCAC currently holds approximately US$207 million in trust, providing a substantial capital base from which to fund the Closing and support the combined company's growth strategy

WHY REECYCLE — WHY NOW

REEs are the lifeblood of modern civilization. Neodymium, praseodymium, dysprosium, and terbium — the core constituents of high-performance permanent magnets — power the electric motors in every EV, the actuators in precision-guided munitions, the rotors in wind turbines, and the drives in advanced radar and sonar systems. Today, the United States sources the overwhelming majority of separated and refined rare earth materials from China, a supply dependency that the Department of War, the Department of Energy, and successive administrations have identified as a critical national security vulnerability.

The scale of the problem is significant and accelerating. Demand for REEs is forecast to nearly triple by 2035, driven by EV adoption, wind energy buildout, and defense modernisation — while supply, dominated by Chinese state-controlled producers, is expected to fall materially short.1 The global REE market is already in structural deficit, a gap projected to widen considerably through the next decade. Recycling is not an alternative to mining — it is the only near-term domestic solution capable of closing that gap at speed.

REEcycle offers a transformative solution: recovering REEs from end-of-life permanent magnets — the same high-performance NdFeB magnets found in discarded hard drives, decommissioned defense equipment, EV motors, and industrial machinery. Rather than mining virgin ore, REEcycle closes the loop, creating a domestic circular economy for critical minerals that is sustainable, cost-competitive, and entirely within U.S. control.

THE STRATEGIC CASE: ONSHORING AMERICA'S CRITICAL MINERAL SUPPLY CHAIN

The United States currently has no meaningful domestic rare earth separation and refining capacity at commercial scale outside of Chinese-controlled entities or joint ventures. REEcycle's technology directly addresses this gap by:

  • Recovering REEs from domestic waste streams, reducing reliance on Chinese imports at every stage of the supply chain — from mining through to final magnet production
  • Supplying high-purity rare earth material to U.S. defense primes, EV manufacturers, and technology companies under increasing regulatory and reputational pressure to de-risk Chinese mineral exposure
  • Qualifying as a domestic source supplier under the Defense Production Act and Buy American provisions increasingly governing Pentagon procurement
  • Generating a measurable environmental benefit — recycling permanent magnets uses a fraction of the energy, water, and land of conventional rare earth mining, with no radioactive tailings

REEcycle has already demonstrated its credibility as a government partner, having been awarded US$5.1 million in non-dilutive funding from the Department of War, with US$4.3 million remaining and disbursed monthly against spend. The company is well-positioned to access further federal support through the Inflation Reduction Act, Defense Production Act, and Department of War funding mechanisms as it scales to commercial production.

With China controlling approximately 85–90% of global rare earth processing — and demonstrating increasing willingness to use mineral exports as a geopolitical tool — the passage of time has only amplified the urgency. REEcycle's moment is now.

TECHNOLOGY: A UNIVERSITY OF HOUSTON INNOVATION, COMMERCIALIZED

REEcycle's core intellectual property is grounded in rigorous academic research at the University of Houston, one of the nation's leading engineering and materials science institutions. The company's process uses innovative hydrometallurgical technique to selectively dissolve, separate, and recover REEs from complex magnet alloys at high yield and purity — producing market-grade rare earth oxides and salts that can feed directly into magnet alloy manufacturing.

Key technological differentiators include:

  • Feedstock flexibility: ability to process NdFeB scrap from multiple sources, including hard drives, EV drive units, wind turbine generators, and defense hardware
  • Closed-loop reagent recovery: process design that minimizes chemical waste and reduces operating costs versus conventional solvent extraction
  • Scalable modular design: process units that can be deployed at distributed locations near feedstock concentrations, reducing logistics costs
  • Proprietary IP portfolio: protected technology creating defensible competitive moats as the market grows

REEcycle's demonstration plant, currently being commissioned at a co-location site in Oklahoma leveraging existing infrastructure and permitting, is designed to produce 6–8 tonnes of rare earth oxide per year, validating the commercial-scale process ahead of full plant rollout. A final engineering study for the first commercial-scale facility, targeting 100 tonnes per annum of production by 2027, is being led by DRA Global with completion expected in Q2 2026. The company has already produced and independently verified market-grade mixed rare earth oxide across multiple laboratory analyses, with purity exceeding third-party requirements. Feedstock procurement is active and tracking below target cost, with strong inbound interest from U.S. and European rare earth refiners on offtake, and a successful pilot of REEcycle's proprietary Drive Disassembly Machine completed with a large data centre partner in Q4 2025.

REEcycle is not a concept-stage technology — it is a rigorously developed, patent-protected process backed by peer-reviewed science, with product proven at pilot scale and a clear, fully-engineered pathway to commercial production.

MANAGEMENT: PROVEN OPERATORS WITH THE EXPERIENCE TO EXECUTE

The combined company will be led by a leadership team that brings together exceptional depth in critical minerals, industrial technology, capital markets, and defense-adjacent industries — anchored by one of the most accomplished operational executives in global mining and resources.

Mick McMullen — Executive Chairman

Mick McMullen has served as Executive Chairman of REEcycle Holdings since its acquisition in 2022 and will continue in that role as Executive Chairman of the combined publicly listed company upon the Closing — a clear signal of strategic continuity and commitment to the mission. Mr. McMullen is an Australian-born geologist and mining executive with over 30 years of leadership experience across global mining and capital markets, and a track record of creating transformative shareholder value in complex, activist-driven situations. He is widely regarded as one of the most respected turnaround operators and dealmakers in the natural resources industry.

Most recently, Mr. McMullen served as CEO of MAC Copper Ltd. (NYSE: MTAL; ASX: MAC), which he built around the high-grade CSA copper mine in Cobar, New South Wales — acquired from Glencore for US$1.1 billion in 2023. Under his leadership, MAC was dual-listed on the NYSE and ASX in a landmark A$325 million IPO, before being acquired by Harmony Gold Mining Company (NYSE: HMY; JSE: HAR) for US$1.03 billion in October 2025, delivering a 32% premium to shareholders. Prior to MAC Copper, Mr. McMullen served as President and CEO of Detour Gold Corporation, where he executed a rapid operational and cultural transformation that grew Detour's market capitalisation from approximately C$2.1 billion to C$4.9 billion in just seven months, culminating in its C$4.9 billion acquisition by Kirkland Lake Gold. Before Detour, Mr. McMullen led Stillwater Mining Company through a turnaround that doubled its market capitalisation, resulting in its US$2.2 billion acquisition by Sibanye Gold. Mr. McMullen is also Executive Chair at Metals Acquisition II, a NYSE listed SPAC that recently raised $230m of cash in trust.

Mr. McMullen's personal investment in REEcycle and his hands-on leadership since 2022 reflect deep conviction that recycling-led onshoring is the fastest and most capital-efficient path to building a secure U.S. rare earth supply chain — and that REEcycle is the vehicle to make it happen.

MARKET OPPORTUNITY

The global rare earth market was valued at approximately US$19 billion in 2025 and is projected to reach ~US$36.7 billion by 2034, with recycling expected to grow at an accelerated rate as demand for domestically sourced materials increases.2 This is driven by EV adoption, wind energy expansion, and increasing defense procurement. The addressable market for recycled rare earth content from end-of-life permanent magnets in the U.S. alone is estimated to reach hundreds of thousands of metric tons of NdFeB scrap per year by the early 2030s as first-generation EV and wind installations reach end-of-life.

The U.S. federal government has committed billions of dollars through the Inflation Reduction Act, the CHIPS and Science Act, and Department of Defense funding mechanisms to build out domestic critical mineral supply chains. REEcycle is positioned to capture a significant share of this public and private investment as the only scalable, domestic, technology-proven rare earth recycling platform approaching public company status.

REEcycle's commercial plant design is modular and capital-efficient, with each facility estimated to cost approximately US$40 million to construct. The company's near-term business plan targets the deployment of 3–4 commercial plants across the United States, followed by expansion into Europe and other strategic markets facing similar supply chain dependencies on China.

TRANSACTION STRUCTURE

The Transaction is structured as a merger of HCAC's wholly owned subsidiary, HCAC Star Merger Sub, Inc., with and into REEcycle Holdings, Inc. Prior to the Closing, HCAC will complete a domestication from a Cayman Islands exempted company to a Delaware corporation in accordance with applicable law (the “Domestication”).

Aggregate consideration to REEcycle equityholders will be paid entirely in shares of the combined company's common stock, providing REEcycle shareholders with full upside participation in the public company. REEcycle equityholders will also be entitled to receive an earnout of up to 5,000,000 additional shares upon achievement of the commercial production milestone, further aligning stakeholder incentives with long-term value creation.

In addition, HCAC may enter into on or more agreements to issue up to an aggregate of 6,125,000 shares to such recipients and in such amounts as HCAC determines, subject to applicable lockup periods (“Additional HCAC Shares”). HCAC will also reserve up to 2,625,000 shares for issuance between the date of Closing and thirty (30) days after the expiration of the lock-up period, to such recipients as the combined company’s board of directors determines subject to applicable lockup periods (“Additional REEcycle Shares”; and together with the Additional HCAC Shares, the “Additional Shares”; and the recipients of the Additional Shares, the “Additional Share Recipients”). If the commercial production milestone is reached, the Additional Share Recipients shall be eligible for an aggregate one-time issuance of 1,250,000 shares (collectively, the “Deferred Shares”). The Deferred Shares will be allocated 70% to the persons and in the amounts, as HCAC identifies in writing before the Closing with the remaining 30% allocated to the persons designated by the combined company’s board between Closing and before the occurrence of a Milestone Event.

Shares held by HCAC’s sponsor entity and REECycle legacy shareholders will be subject to lock-up for six months post-listing, subject to certain early release conditions — a meaningful alignment of insider interests with those of incoming public shareholders.

Subject to shareholder approval at HCAC’s shareholders’ meeting, the combined company intends to adopt a market-standard equity incentive plan to attract, retain, and align the interests of management and employees as the business scales toward commercial production.

The Transaction is expected to close following receipt of HCAC shareholder approval, effectiveness of the registration statement on Form S-4 (the “Registration Statement”), to be filed with the U.S. Securities and Exchange Commission (the “SEC”), which will include preliminary and definitive proxy statements to be distributed to HCAC’s shareholders in connection with HCAC’s solicitation of proxies for the shareholder vote in connection with the Transaction, the prospectus relating to the offer of securities to be issued in connection with the Transaction, and other matters to be described in the Registration Statement, and satisfaction of other customary closing conditions.

STATEMENTS FROM LEADERSHIP

Alex Bono, Chief Executive Officer, Hall Chadwick Acquisition Corp:

"REEcycle represents a rare combination of proprietary technology, experienced leadership, and direct alignment with U.S. critical minerals strategy. We see this as a platform capable of becoming a meaningful domestic supplier, and we are excited to bring that opportunity to public investors. The dependence of U.S. defense and technology industries on Chinese rare earth processing is a vulnerability that must be addressed — REEcycle has the technology, the team, and the feedstock strategy to be a central part of the solution."

Mick McMullen, Executive Chairman, REEcycle Holdings, Inc.:

"We are addressing a critical U.S. supply gap with a faster and more capital-efficient solution than traditional mining, scalable across the U.S. and globally. This is both a technology opportunity and a national security priority. This business combination provides REEcycle with the capital, the platform, and the public market credibility to scale our technology and execute on the enormous opportunity in front of us. Every end-of-life electric vehicle motor, every decommissioned hard drive array, every retired defense system contains REEs that should be recovered and recycled in America — not discarded or exported. We are building the infrastructure to make that happen."

ADVISORS

Hall Chadwick is acting as exclusive corporate advisor, joint financial advisor and joint capital markets advisor to Hall Chadwick Acquisition Corp in connection with this transaction. Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, is acting as joint financial advisor, joint capital markets advisor and placement agent to Hall Chadwick Acquisition Corp.

Empire Capital Partners Pty Ltd acted as exclusive corporate advisor to REEcycle Holdings, Inc. in connection with the Transaction. Empire Capital Partners was instrumental in originating and structuring the acquisition of REEcycle in 2022 and its business combination with Hall Chadwick Acquisition Corp in 2026. Duane Morris LLP is acting as legal counsel to Hall Chadwick Acquisition Corp. Perkins Coie LLP served as legal counsel to REEcycle Holdings, Inc.

IMPORTANT INFORMATION AND WHERE TO FIND IT

The Transaction will be submitted to HCAC’s shareholders for their consideration and approval. HCAC and REEcycle intend to file the Registration Statement. After the Registration Statement has been filed and declared effective by the SEC, HCAC will mail a definitive proxy statement/prospectus/ consent, solicitation statement and other relevant documents to its shareholders as of the record date established for voting on the Transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, HCAC’S SHAREHOLDERS AND OTHER INTERESTED PARTIES ARE URGED TO READ, WHEN AVAILABLE, THE REGISTRATION STATEMENT, AND AMENDMENTS THERETO, AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH HCAC’S SOLICITATION OF PROXIES FOR THE SHAREHOLDERS MEETING TO BE HELD TO APPROVE THE BCA, THE TRANSACTION, AND OTHER MATTERS AS DESCRIBED IN THE REGISTRATION STATEMENT BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT HCAC, REECYCLE, AND THE TRANSACTION. Shareholders and other interested parties may obtain a copy of these documents, without charge, at the SEC’s website located at www.sec.gov or by directing a written request to HCAC, Attn: Corporate Secretary, 1 North Bridge Road #18-06 High Street Centre Singapore, 179094.

NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTION, PASSED UPON THE MERITS OR FAIRNESS OF THE TRANSACTIONS OR ANY RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.

FORWARD-LOOKING STATEMENTS

This press release includes “forward-looking statements” within the meaning of the federal securities laws, including the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events, including, without limitation, statements regarding the anticipated timing and benefits of the Transaction, the entry into agreements related to the Transaction, and HCAC’s or REEcycle’s future financial or operating performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential,” or “continue,” or the negatives of these terms or variations of them or similar terminology. In addition, these forward-looking statements include, without limitation, statements regarding HCAC’s and REEcycle’s expectations with respect to future performance and anticipated financial impacts of the Transaction, the satisfaction of the closing conditions to the BCA, and the timing of the completion of the the BCA and the Transaction. Such forward-looking statements are subject to risks, uncertainties (some of which are beyond the control of REEcycle and/or HCAC), and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by HCAC and its management, and REEcycle and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, without limitation: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the BCA or other definitive agreements; (2) the outcome of any legal proceedings that may be instituted against REEcycle, HCAC or others following the announcement of the BCA and any definitive agreements; (3) the inability to complete the Transaction due to the failure to obtain consents and approvals of the shareholders of HCAC or the SEC’s declaration of the effectiveness of the Registration Statement; (4) failure to obtain financing to complete the transactions or to satisfy other conditions to closing; delays or failures to obtain necessary regulatory approvals required to complete the transactions; (5) changes to the proposed structure of the Transaction as a result of applicable laws, regulations or conditions; (6) the ability of HCAC to meet applicable listing standards following the consummation of the Transaction; (7) the risk that the Transaction disrupts current plans and operations of REEcycle as a result of the announcement and consummation of the BCA; (8) projections, estimates and forecasts of revenue and other financial and performance metrics; (9) projections about industry trends and market opportunity; expectations relating to the demand for REEcycle’s services; (9) REEcycle’s ability to scale and grow its business; (10) the cash position of REEcycle following the closing; (11) the risk that the Transaction disrupt current plans and operations of REEcycle as a result of the announcement and consummation of the Transaction; (12) the ability to recognize the anticipated benefits of the Transaction, which may be affected by, among other things, competition, the ability of REEcycle to successfully commercialize its business, and REEcycle’s ability to source and maintain key relationships with management and key employees; (13) the ability of the combined company to grow and manage growth profitably, continue developing its properties, maintain relationships with customers and suppliers, and retain its management and key employees; (14) costs related to the BCA and the Transaction; (15) risks relating to significant legal, commercial, regulatory and technical uncertainty regarding the classification and management of nuclear energy resources, including evolving environmental standards, permitting requirements, and potential changes in applicable laws or regulations; changes in applicable laws and regulations; political and economic developments and market volatility; (16) the possibility that REEcycle and/or its related entities may be adversely affected by other economic, business, and/or competitive factors; (17) risks relating to REEcycle’s anticipated operations and business; (18) the risk that REEcycle does not ever enter into any definitive agreements in connection with commercialization of its technology; (19) the risk that REEcycle is pursuing an emerging market; (20) the amount of redemption requests made by the HCAC public shareholders; and (21) other risks and uncertainties set forth under “Risk Factors” and other documents filed, or to be filed, with the SEC by HCAC and/or REEcycle, including the Registration Statement, and HCAC’s other filings with the SEC, as well as any further risks and uncertainties to be contained in the Proxy Statement/Prospectus filed after the date of this press release. In addition, there may be additional risks that neither HCAC or REEcycle presently know, or that HCAC or REEcycle currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as may be required by law, neither HCAC nor REEcycle undertakes any duty to update these forward-looking statements. The inclusion of any statement in this communication does not constitute an admission by HCAC, REEcycle, or any other person that the events or circumstances described in such statement are material.

PARTICIPANTS IN SOLICITATION

REEcycle, HCAC, and their respective directors, executive officers, management and employees, under SEC rules, may be deemed to be participants in a solicitation of proxies of HCAC’s shareholders in connection with the BCA and the Transaction. Investors and shareholders may obtain more detailed information regarding the names, affiliations, and interests of HCAC’s directors and executive officers in its filings with the SEC, including HCAC’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on April 15, 2026. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of HCAC’s shareholders in connection with the BCA and the Transaction will be set forth in the Registration Statement, along with information concerning the interests of REEcycle’s and HCAC’s participants in the solicitation. Such interests may in some cases be different from those of REEcycle’s or HCAC’s equity holders generally. Investors and security holders may obtain free copies of these documents as described above.

NO OFFER OR SOLICITATION

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful before registration or qualification under the securities laws of any such jurisdiction. This communication is not, and under no circumstances is to be construed as, a prospectus, an advertisement or a public offering of the securities in the United States or any other jurisdiction. No offer of securities shall be made except by means of a prospectus filed with the SEC meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”), or exemptions therefrom. Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of any exemption under the Securities Act.

CONTACTS

Investor Relations Contact:

REEcycleSandy Noyessandy@reecycleinc.com

HCACAlex Bonoabono@hallchadwick.com

Media Contact:

REEcycle

Sandy Noyes

sandy@reecycleinc.com

HCAC

Mike Willesee

mwillesee@hallchadwick.com.au

________________________________1 McKinsey & Company, "Rare Earth Elements: The Strategic Metals of the Energy Transition," 2023.2 Grand Research Store, “Rare Earth Market Report,” 2025

For Immediate Release

Chicago, IL – May 29, 2026 – Today, Zacks Equity Research discusses Franco-Nevada Corp. FNV, Harmony Gold HMY, Novagold Resources NG, DRDGOLD Ltd. DRD and Idaho Strategic Resources, Inc. IDR.

Industry: Gold Mining

Link: https://www.zacks.com/commentary/2927906/5-gold-mining-stocks-to-buy-despite-industry-headwinds

The outlook for Zacks Mining – Gold industry remains under pressure as gold prices have slipped below $4,400 per ounce, hovering near a two-month low. Renewed Iran war fears, rising inflation concerns, a stronger U.S dollar and expectations that central banks will keep interest rates higher weighed on sentiment. Miners continue to face rising costs and labor shortages. Longer-term challenges include resource depletion and declining production from mature mines, which point to a potential supply deficit.

Amid this uncertainty, Franco-Nevada Corp., Harmony Gold, Novagold Resources, DRDGOLD Ltd. and Idaho Strategic Resources, Inc. are well-poised for growth, backed by their strong balance sheets and growth initiatives.

About the Industry

The Zacks Mining – Gold industry mainly comprises companies engaged in extracting gold from mines. The mines may either be underground or open pits. Mining is a long and complex process, and requires significant financial resources. It involves exploration to evaluate a deposit's size; assessing ways to extract and process ore efficiently, safely and responsibly; and developing the mine before the actual mining process. It normally takes 10-20 years for a gold mine to produce material that can finally be refined.

Players in the industry nowadays use a range of sophisticated techniques to extract gold and convert it into dore bars, an alloy of gold and silver, alongside other impurities. These are then sent for purification, after which gold is purchased as bars or coins, or used in jewelry or other purposes.

Major Trends Shaping the Future of the Mining – Gold Industry

Gold Prices Dip to 2 Month Lows: Gold prices have tumbled to below $4,400 an ounce, the lowest since March 27, 2026. This was fueled by fresh U.S. attacks on Iran, which dampened hopes of a deal. This boosted the dollar and oil prices, feeding inflation expectations and reducing rate-cut bets.

Gold is currently down more than 15% since the conflict began. Even if both sides move closer to a deal, elevated energy prices are still expected to fuel inflationary pressures and encourage central banks to keep interest rates higher for longer, rather than proceed with the rate cuts.

High Costs, Labor Shortage Are Worrisome: The industry has been facing a shortage of skilled workforce, causing a spike in wages. Industry players are persistently grappling with escalating production costs, including energy, water, and material and supply-chain issues. Since the industry cannot control gold prices, it focuses on improving the sales volume and the operating cash flow, and lowering unit net cash costs.

The industry participants are opting for alternative energy sources, such as solar or wind farms, to minimize fuel-price volatility and secure supply. Miners are committed to cost-reduction strategies and digital innovation to drive operating efficiencies.

Declining Supply a Concern for the Industry: Depleting resources, declining supply in old mines and the lack of new mines have been a perennial problem for the industry. Due to the scarcity of discoveries and exhaustive existing resources, miners prefer building up reserves through acquisitions rather than digging new ones that are risky and capital-intensive.

On the demand side, the use of gold in energy, healthcare and technology is rising. India and China account for around 50% of consumer gold demand. The yellow metal has long been considered a safe-haven investment in financial or political uncertainty. Gold demand continues to be on the rise from central banks. Therefore, there will be an eventual demand-supply imbalance.

Zacks Industry Rank Indicates Dull Prospects

The group’s Zacks Industry Rank, basically the average of the Zacks Rank of all the member stocks, indicates bleak near-term prospects. The Zacks Mining – Gold Industry, which is a 44-stock group within the broader Zacks Basic Materials sector, currently carries a Zacks Industry Rank #149, which places it at the bottom 39% of 244 Zacks industries.

Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Before we present a few stocks that you may want to consider for your portfolio, let us take a look at the industry’s recent stock-market performance and valuation picture.

Industry Versus S&P 500 & Sector

The Mining-Gold Industry has outperformed the S&P 500 Index and the Basic Material sector in a year. The stocks in the industry have collectively gained 71% compared with the broader sector’s growth of 41.5%. The S&P 500 has risen 31.9% in the same time frame.

Industry's Current Valuation

On the basis of the trailing 12-month EV/EBITDA, a commonly used multiple for valuing gold-mining companies, we see that the industry is currently trading at 7.30X compared with the S&P 500’s 18.78X and the Basic Material sector’s trailing 12-month EV/EBITDA of 13.74X.

Over the last five years, the industry traded as high as 11.74X and as low as 5.25X, the median being 7.92X.

5 Mining-Gold Stocks to Bet On

DRDGOLD: The company delivered strong operational and financial results for the quarter ended March 31, 2026, driven by higher throughput, disciplined cost management and continued exposure to a favorable gold price environment. DRDGOLD remains on track to achieve the upper end of its 2026 production guidance range of between 140 000 and 150 000 ounces of gold. The group’s liquidity position continues to support the internal funding of its expanded capital program while maintaining a debt-free balance sheet.

The company’s focus for the near term remains the successful completion of the ‘Big 5’ projects comprising its Vision 2028 to establish the platform that will unlock the balance of DRDGOLD’s gold resources. This is expected to expand throughput to 3 million tons a month and increase gold output to six tons (200,000 ounces) a year at a total cost of R7.8 billion ($1.54 billion) forecasted for the medium term. DRD shares have gained 70.7% in the past year.

The Zacks Consensus Estimate for DRDGOLD’s earnings for fiscal 2026 indicates 164.34% year-over-year growth. The estimate has moved up 20% over the past 60 days. DRD currently sports a Zacks Rank #1 (Strong Buy).

You can see the complete list of today’s Zacks #1 Rank stocks here.

Idaho Strategic Resources: The company operates the producing Golden Chest gold mine and holds a majority ownership interest in the New Jersey Mill, along with several exploration-stage gold properties. The company’s strategy centers on growing production at Golden Chest while reinvesting cash flow into both gold and rare-earth elements (REE) exploration projects.

The Golden Chest Mine produced 3,234 ounces of gold in the first quarter of 2026. Exploration activity remained active, with roughly 8,700 meters of drilling completed across several targets, including Paymaster, Red Star, Katie-Dora and the H-vein. The company also stated that permitting is in place for drill programs this year at two projects in the Murray Gold Belt (Little Baldy and Niagara) and at two of its REE prospects (Lucky Horseshoe at Lemhi Pass and Cardinal at Mineral Hill) near Salmon.

IDR also secured an important milestone on the rare-earth front. One of its proposals submitted under the Department of Energy’s Funding Opportunity 3105 for critical material innovation was selected for funding. The stock has gained 158.4% in the past year.

The Zacks Consensus Estimate for this Coeur d'Alene, Idaho-based company’s earnings for fiscal 2026 indicates 33.3% year-over-year growth. The estimate has moved up 92% over the past 60 days. IDR has a trailing four-quarter earnings surprise of 68.7%, on average. Idaho Strategic has currently sports a Zacks Rank of 1.

Franco-Nevada: The company reported record revenues, adjusted EBITDA, net income and operating cash flow for the first quarter of 2026. It benefited from record gold and silver prices during the quarter, strong contributions from Antamina, South Arturo, Hemlo, Musselwhite, and incremental contributions from Côté Gold, Porcupine and Valentine, all of which were acquired or commenced production over the past year.

The company also benefited from higher revenues from its diversified assets, particularly from Vale's iron ore interest, and Haynesville and Marcellus gas assets. One of the inherent strengths of Franco-Nevada’s business model is the diversified portfolio of precious metals, energy and iron ore. Franco-Nevada continues to deploy capital into new royalties and streams that can add long-duration optionality without adding operating complexity. Given its continued focus on cost management, the company has been generating high margins. FNV shares have gained 30.1% over the past year.

The Zacks Consensus Estimate for this company’s earnings for fiscal 2026 indicates 58.6% year-over-year growth. The estimate has moved up 3.5% over the past 60 days. FNV has a trailing four-quarter earnings surprise of 10.3%, on average. The company has a long-term estimated earnings growth of 13.11% and currently carries a Zacks Rank #2 (Buy).

Harmony Gold: The company has delivered a solid operating performance for the nine months ended 31 March 2026, reflecting an excellent third quarter with improvements across all key operational metrics. Mponeng, Hidden Valley and Tshepong North delivered notable performances during this quarter. HMY remains on track to achieve full year production. The company has a diverse portfolio of gold development projects spread across South Africa and Papua New Guinea.

Harmony Gold is also progressing with development projects, including the Eva Copper project in Australia and its Tier 1 joint venture asset, the Wafi-Golpu copper-gold project. HMY is focused on strengthening its position as a higher-quality, lower-risk global gold and copper producer, which will be aided by these projects. Harmony Gold acquired the CSA Copper Mine in Australia in October 2025 and has been focused on integrating the mine.

Harmony Gold boasts a strong balance sheet and generates substantial cash flows, which allows it to finance its development projects and drive shareholder value. Harmony Gold shares have gained 18.7% over the past year.

The Zacks Consensus Estimate for the Randfontein, South Africa-based company’s 2026 earnings indicates year-over-year growth of 115.75%. The estimate has moved up 3.4% over the past 60 days. Harmony Gold currently has a Zacks Rank of 2.

NovaGold Resources: The company is mainly focused on the development of the Donlin Gold project in Alaska, in which it has a 60% stake. The project hosts approximately 40 million ounces of gold in the Measured and Indicated Mineral Resource, inclusive of Mineral Reserves, at an average grade of 2.22 grams per ton, more than twice the industry average. It is expected to produce an average of more than 1 million ounces per year over a 27-year mine life on a 100% basis, once in production.

Donlin Gold’s exceptional scale, high-grade open-pit mineralization, long mine life, competitive estimated operating costs, significant exploration upside[2] and location in an excellent mining jurisdiction place it among a rare class of global gold assets. In 2026, the primary focus remains on progressing the Bankable Feasibility Study of the project and moving to a subsequent Final Investment Decision. NovaGold shares have gained 121% over the past year.

The Zacks Consensus Estimate for this Vancouver, Canada-based company’s earnings for fiscal 2026 is pegged at a loss of 18 cents per share. The estimate has moved up from the loss of 25 cents projected 60 days ago. NG has a trailing four-quarter earnings surprise of 14.6%, on average. The company currently carries a Zacks Rank of 2.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Franco-Nevada Corporation (FNV) : Free Stock Analysis Report

DRDGOLD Limited (DRD) : Free Stock Analysis Report

Novagold Resources Inc. (NG) : Free Stock Analysis Report

Idaho Strategic Resources, Inc. (IDR) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

How much a stock's price changes over time is important for most investors, since price performance can both impact your investment portfolio and help you compare investment results across sectors and industries.

Another thing that can drive investing is the fear of missing out, or FOMO. This particularly applies to tech giants and popular consumer-facing stocks.

What if you'd invested in Harmony Gold (HMY) ten years ago? It may not have been easy to hold on to HMY for all that time, but if you did, how much would your investment be worth today?

Harmony Gold's Business In-Depth

With that in mind, let's take a look at Harmony Gold's main business drivers.

Harmony Gold Mining Company Limited is based in Randfontein, South Africa. The company conducts underground and surface gold mining. It is also engaged in related activities such as exploration, processing, smelting and refining. Harmony is South Africa's biggest gold producer by volume with production of roughly 1.48 million ounces in fiscal 2025.The company’s mining operations are principally concentrated in South Africa. The company has nine underground operations located in the Witwatersrand Basin. Additionally, Harmony has an open-pit mine on the Kraaipan Greenstone Belt along with several surface sources treatment operations. The Hidden Valley, which is located in Papua New Guinea, is an open-pit silver and gold mine.Also, many of these mines are located in the Free State Province such as Welcom, Virginia, Tshepong and Bambanani, along with the Evander gold mine in Mpumalanga province, the Elandskraal mine at the West Rand goldfields in Gauteng province, and Kalgold operations in the North West province.The company has discontinued its mining operations at Mt. Magnet and South Kalgoorlie in Western Australia as a strategic move. Harmony recorded sales of $4,071 million for fiscal 2025 (ended Jun 30, 2025).

Exploration Projects

Domestic Projects: In South Africa, Harmony operates a total of nine underground operations, one open pit operation and several surface operations including an open cast mine, and nine processing plants, which are located in all of the currently known goldfields in the Witwatersrand basin of South Africa as well as the Kraaipan Greenstone Belt.

International Projects: In Papua New Guinea (PNG), Harmony has full ownership of Hidden Valley, an open-cast gold and silver project that began production in June 2009, and 50% ownership of the Wafi-Golpu project. Harmony’s exploration portfolio focuses principally on highly prospective areas in PNG and the Wafi-Golpu project in particular. Harmony expects that if Wafi-Golpu is developed, it will shift the company’s geographical mix from more than 90% South African production to 75% domestic output and 25% offshore. Harmony, in December 2022, also acquired the Eva Copper project and surrounding exploration tenements from Copper Mountain Mining Corporation.

Bottom Line

Putting together a successful investment portfolio takes a combination of research, patience, and a little bit of risk. For Harmony Gold, if you bought shares a decade ago, you're likely feeling really good about your investment today.

A $1000 investment made in May 2016 would be worth $6,013.70, or a gain of 501.37%, as of May 28, 2026, according to our calculations. This return excludes dividends but includes price appreciation.

In comparison, the S&P 500's gained 258.27% and the price of gold went up 249.20% over the same time frame.

Analysts are forecasting more upside for HMY too.

Harmony Gold benefits from a diverse portfolio and long-term growth projects, including the Wafi-Golpu copper-gold project in PNG and the Eva Copper project in Australia, which strengthen its international copper and gold footprint. Rising gold prices, supported by strong central-bank demand and geopolitical uncertainty, are expected to aid earnings and cash flows. The company also maintains a strong balance sheet, with net cash and liquidity improving significantly in fiscal 2025. However, higher operating costs, inflationary pressures, labor risks and rising electricity tariffs continue to weigh on margins. Production declined in fiscal 2025 due to weather disruptions and safety stoppages, while higher capital spending may pressure free cash flow going forward.

Shares have gained 16.60% over the past four weeks and there have been 1 higher earnings estimate revisions for fiscal 2026 compared to none lower. The consensus estimate has moved up as well.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

The outlook for Zacks Mining – Gold industry remains under pressure as gold prices have slipped below $4,400 per ounce, hovering near a two-month low. Renewed Iran war fears, rising inflation concerns, a stronger U.S dollar and expectations that central banks will keep interest rates higher weighed on sentiment. Miners continue to face rising costs and labor shortages. Longer-term challenges include resource depletion and declining production from mature mines, which point to a potential supply deficit. Amid this uncertainty, Franco-Nevada Corporation FNV, Harmony Gold HMY, Novagold Resources NG, DRDGOLD Limited DRD and Idaho Strategic Resources, Inc. IDR are well-poised for growth, backed by their strong balance sheets and growth initiatives.

About the Industry

The Zacks Mining – Gold industry mainly comprises companies engaged in extracting gold from mines. The mines may either be underground or open pits. Mining is a long and complex process, and requires significant financial resources. It involves exploration to evaluate a deposit's size; assessing ways to extract and process ore efficiently, safely and responsibly; and developing the mine before the actual mining process. It normally takes 10-20 years for a gold mine to produce material that can finally be refined. Players in the industry nowadays use a range of sophisticated techniques to extract gold and convert it into dore bars, an alloy of gold and silver, alongside other impurities. These are then sent for purification, after which gold is purchased as bars or coins, or used in jewelry or other purposes.

Major Trends Shaping the Future of the Mining – Gold Industry

Gold Prices Dip to 2 Month Lows: Gold prices have tumbled to below $4,400 an ounce, the lowest since March 27, 2026. This was fueled by fresh U.S. attacks on Iran, which dampened hopes of a deal.  This boosted the dollar and oil prices, feeding inflation expectations and reducing rate-cut bets. Gold is currently down more than 15% since the conflict began. Even if both sides move closer to a deal, elevated energy prices are still expected to fuel inflationary pressures and encourage central banks to keep interest rates higher for longer, rather than proceed with the rate cuts. 

High Costs, Labor Shortage Are Worrisome: The industry has been facing a shortage of skilled workforce, causing a spike in wages. Industry players are persistently grappling with escalating production costs, including energy, water, and material and supply-chain issues. Since the industry cannot control gold prices, it focuses on improving the sales volume and the operating cash flow, and lowering unit net cash costs. The industry participants are opting for alternative energy sources, such as solar or wind farms, to minimize fuel-price volatility and secure supply. Miners are committed to cost-reduction strategies and digital innovation to drive operating efficiencies.

Declining Supply a Concern for the Industry: Depleting resources, declining supply in old mines and the lack of new mines have been a perennial problem for the industry. Due to the scarcity of discoveries and exhaustive existing resources, miners prefer building up reserves through acquisitions rather than digging new ones that are risky and capital-intensive. On the demand side, the use of gold in energy, healthcare and technology is rising. India and China account for around 50% of consumer gold demand. The yellow metal has long been considered a safe-haven investment in financial or political uncertainty. Gold demand continues to be on the rise from central banks. Therefore, there will be an eventual demand-supply imbalance.

Zacks Industry Rank Indicates Dull Prospects

The group’s Zacks Industry Rank, basically the average of the Zacks Rank of all the member stocks, indicates bleak near-term prospects. The Zacks Mining – Gold Industry, which is a 44-stock group within the broader Zacks Basic Materials sector, currently carries a Zacks Industry Rank #149, which places it at the bottom 39% of 244 Zacks industries.Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Before we present a few stocks that you may want to consider for your portfolio, let us take a look at the industry’s recent stock-market performance and valuation picture.

Industry Versus S&P 500 & Sector

The Mining-Gold Industry has outperformed the S&P 500 Index and the Basic Material sector in a year. The stocks in the industry have collectively gained 71% compared with the broader sector’s growth of 41.5%. The S&P 500 has risen 31.9% in the same time frame.

One-Year Price Performance

 

Industry's Current Valuation

On the basis of the trailing 12-month EV/EBITDA, a commonly used multiple for valuing gold-mining companies, we see that the industry is currently trading at 7.30X compared with the S&P 500’s 18.78X and the Basic Material sector’s trailing 12-month EV/EBITDA of 13.74X. This is shown in the charts below.

Enterprise Value/EBITDA (EV/EBITDA) TTM Ratio

Enterprise Value/EBITDA (EV/EBITDA) TTM Ratio

Over the last five years, the industry traded as high as 11.74X and as low as 5.25X, the median being 7.92X.

5 Mining-Gold Stocks to Bet On

DRDGOLD: The company delivered strong operational and financial results for the quarter ended March 31, 2026, driven by higher throughput, disciplined cost management and continued exposure to a favorable gold price environment. DRDGOLD remains on track to achieve the upper end of its 2026 production guidance range of between 140 000 and 150 000 ounces of gold. The group’s liquidity position continues to support the internal funding of its expanded capital program while maintaining a debt-free balance sheet. The company’s focus for the near term remains the successful completion of the ‘Big 5’ projects comprising its Vision 2028 to establish the platform that will unlock the balance of DRDGOLD’s gold resources. This is expected to expand throughput to 3 million tons a month and increase gold output to six tons (200,000 ounces) a year at a total cost of R7.8 billion ($1.54 billion) forecasted for the medium term. DRD shares have gained 70.7% in the past year.

The Zacks Consensus Estimate for DRDGOLD’s earnings for fiscal 2026 indicates 164.34% year-over-year growth. The estimate has moved up 20% over the past 60 days. DRD currently sports  a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.

Price: DRD

Idaho Strategic Resources: The company operates the producing Golden Chest gold mine and holds a majority ownership interest in the New Jersey Mill, along with several exploration-stage gold properties. The company’s strategy centers on growing production at Golden Chest while reinvesting cash flow into both gold and rare-earth elements (REE) exploration projects. The Golden Chest Mine produced 3,234 ounces of gold in the first quarter of 2026. Exploration activity remained active, with roughly 8,700 meters of drilling completed across several targets, including Paymaster, Red Star, Katie-Dora and the H-vein. The company also stated that permitting is in place for drill programs this year at two projects in the Murray Gold Belt (Little Baldy and Niagara) and at two of its REE prospects (Lucky Horseshoe at Lemhi Pass and Cardinal at Mineral Hill) near Salmon. IDR also secured an important milestone on the rare-earth front. One of its proposals submitted under the Department of Energy’s Funding Opportunity 3105 for critical material innovation was selected for funding. The stock has gained 158.4% in the past year. 

The Zacks Consensus Estimate for this Coeur d'Alene, Idaho-based company’s earnings for fiscal 2026 indicates 33.3% year-over-year growth. The estimate has moved up 92% over the past 60 days. IDR has a trailing four-quarter earnings surprise of 68.7%, on average. Idaho Strategic has currently sports a Zacks Rank of 1. 

Price: IDR

 

Franco-Nevada: The company reported record revenues, adjusted EBITDA, net income and operating cash flow for the first quarter of 2026. It benefited from record gold and silver prices during the quarter, strong contributions from Antamina, South Arturo, Hemlo, Musselwhite, and incremental contributions from Côté Gold, Porcupine and Valentine, all of which were acquired or commenced production over the past year.  The company also benefited from higher revenues from its diversified assets, particularly from Vale's iron ore interest, and Haynesville and Marcellus gas assets. One of the inherent strengths of Franco-Nevada’s business model is the diversified portfolio of precious metals, energy and iron ore. Franco-Nevada continues to deploy capital into new royalties and streams that can add long-duration optionality without adding operating complexity. Given its continued focus on cost management, the company has been generating high margins. FNV shares have gained 30.1% over the past year. 

The Zacks Consensus Estimate for this company’s earnings for fiscal 2026 indicates 58.6% year-over-year growth. The estimate has moved up 3.5% over the past 60 days. FNV has a trailing four-quarter earnings surprise of 10.3%, on average. The company has a long-term estimated earnings growth of 13.11% and currently carries a Zacks Rank #2 (Buy).

Price: FNV

Harmony Gold: The company has delivered a solid operating performance for the nine months ended 31 March 2026, reflecting an excellent third quarter with improvements across all key operational metrics. Mponeng, Hidden Valley and Tshepong North delivered notable performances during this quarter. HMY remains on track to achieve full year production. The company has a diverse portfolio of gold development projects spread across South Africa and Papua New Guinea. Harmony Gold is also progressing with development projects, including the Eva Copper project in Australia and its Tier 1 joint venture asset, the Wafi-Golpu copper-gold project. HMY is focused on strengthening its position as a higher-quality, lower-risk global gold and copper producer, which will be aided by these projects. Harmony Gold acquired the CSA Copper Mine in Australia in October 2025 and has been focused on integrating the mine. Harmony Gold boasts a strong balance sheet and generates substantial cash flows, which allows it to finance its development projects and drive shareholder value. Harmony Gold shares have gained 18.7% over the past year. 

The Zacks Consensus Estimate for the Randfontein, South Africa-based company’s 2026 earnings indicates year-over-year growth of 115.75%. The estimate has moved up 3.4% over the past 60 days. Harmony Gold currently has a Zacks Rank of 2.

Price: HMY

NovaGold Resources: The company is mainly focused on the development of the Donlin Gold project in Alaska, in which it has a 60% stake. The project hosts approximately 40 million ounces of gold in the Measured and Indicated Mineral Resource,  inclusive of Mineral Reserves, at an average grade of 2.22 grams per ton, more than twice the industry average. It is expected to produce an average of more than 1 million ounces per year over a 27-year mine life on a 100% basis, once in production. Donlin Gold’s exceptional scale, high-grade open-pit mineralization, long mine life, competitive estimated operating costs, significant exploration upside[2] and location in an excellent mining jurisdiction place it among a rare class of global gold assets. In 2026, the primary focus remains on progressing the Bankable Feasibility Study of the project and moving to a subsequent Final Investment Decision. NovaGold shares have gained 121% over the past year. 

The Zacks Consensus Estimate for this Vancouver, Canada-based company’s earnings for fiscal 2026 is pegged at a loss of 18 cents per share. The estimate has moved up from the loss of 25 cents projected 60 days ago. NG has a trailing four-quarter earnings surprise of 14.6%, on average. The company currently carries a Zacks Rank of 2.

Price: NG

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Harmony Gold Mining Company Limited (NYSE:HMY) is one of the top cheap stocks to buy with the biggest upside potential. Harmony Gold Mining Company Limited (NYSE:HMY) announced on April 29 that the MSCI upgraded the company’s environmental, social, and governance (ESG) rating from ‘BB’ to ‘A’ after its most recent assessment in March 2026. Management stated that the improvement points towards the company’s bolstered performance across key ESG pillars, and is supported by measurable progress in toxic emissions and waste reduction, water management, and enhanced governance practices.

Harmony Gold Mining Company Limited (NYSE:HMY) further reported that its environmental pillar score improved from 3.0 to 5.1, while its social score improved from 2.4 to 4.7, which shows concrete progress in community relations, operational efficiency, and employee engagement. In addition, governance remains a “core strength”, according to the company, with a consistently high score of 7.4.

In a separate development, Harmony Gold Mining Company Limited (NYSE:HMY) was upgraded to Overweight from Equal Weight by Morgan Stanley on April 16, with the firm lifting the price target on the stock to ZAR 34,000 from ZAR 30,000.

Harmony Gold Mining Company Limited (NYSE:HMY) is a gold mining and exploration company with a copper footprint that includes an open-pit mining operation, nine deep-level mines, and a number of surface retreatment facilities. Its operations are divided into the following segments: Tshepong North, Tshepong South, Moab Khotsong, Joel, Doornkop, Target 1, Kusasalethu, Masimong, Mponeng, Mine Waste Solutions, and Hidden Valley.

While we acknowledge the potential of HMY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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AngloGold Ashanti PLC AU and Harmony Gold Mining Co. Ltd. HMY are two prominent gold mining companies with a diversified portfolio of mines. Both AU and HMY are gaining from the surge in gold prices.Gold prices are benefiting from safe-haven demand, heightened geopolitical risks and trade tensions. The prices of gold are currently trading near $4,990 per ounce. The yellow metal has advanced 63.6% in a year.For investors seeking to ride this momentum, the question is: which stock offers better value? Let us examine the fundamentals, growth prospects and challenges for AngloGold Ashanti and Harmony Gold.

The Case for AU

AngloGold Ashanti, headquartered in Greenwood Village, CO, has operations in Argentina, Australia, Brazil, the Democratic Republic of the Congo, Egypt, Ghana, Guinea and Tanzania. In October 2025, it bolstered its asset base with the acquisition of Augusta Gold Corp. This addition expands AU’s footprint in the Beatty District of Nevada through the acquisition of the Reward and Bullfrog properties.AngloGold Ashanti also expanded its portfolio in November 2024 with the acquisition of Egyptian gold producer Centamin, adding the large-scale, long-life Sukari mine, which has the potential to produce 500,000 ounces annually. The Sukari mine produced a record 500,000 ounces of gold in 2025, positioning itself as a Tier 1 asset for the company.AU’s adjusted EBITDA surged 129% year over year in 2025 to a record $6.3 billion. This was driven by a 16% year-over-year increase in gold production in the year and higher metal prices. The upside in gold production was attributed to the contributions from the recently acquired Sukari mine and the solid performances of  Obuasi, Siguiri, Geita, Cerro Vanguardia and Cuiabá.Gold production for 2026 is projected at 2.80-3.17 million ounces, suggesting a year-over-year dip of 3% at the mid-point. Higher costs are also expected to weigh on the company’s performance in 2026.The company has been facing headwinds from higher operating costs for the last few quarters due to inflationary cost pressures from increased labor and mining contractor costs. However, the impacts of these elevated costs on its earnings were offset by higher sales volumes and prices.AngloGold Ashanti generated a record $2.9 billion in free cash flow in 2025, a 204% year-over-year whopping rise. The company ended the year with $4.4 billion in liquidity, including cash and cash equivalents of $2.9 billion.AU remains focused on its Full Asset Potential program to offset the inflationary impacts. AngloGold Ashanti’s significant exploration success over the past five years has added 23.1 million ounces to its gold mineral reserve (including acquisitions and before accounting for depletion). At the end of Dec. 31, 2025, the company’s gold mineral reserve was 36.5 million ounces, marking the ninth consecutive year of annual increase in gold mineral reserve.  

The Case for HMY

Harmony Gold is South Africa's biggest gold producer by volume, with production of 724,099 ounces in the first half of fiscal 2026. The company has been delivering over a decade of production consistency and is currently on track to meet fiscal 2026 guidance of 1.4 million to 1.5 million ounces. In fiscal 2025, the company produced 1.48 million ounces. The company’s adjusted EBITDA increased 39% year over year in the first half of fiscal 2026, ending on Dec. 31, 2025.  Harmony Gold has a diverse portfolio of gold development projects spread across South Africa and Papua New Guinea. Harmony Gold is also progressing with development projects, including the Eva Copper project in Australia and its Tier 1 joint venture asset, the Wafi-Golpu copper-gold project. HMY is focused on strengthening its position as a higher-quality, lower-risk global gold and copper producer, which will be aided by these projects.Harmony Gold acquired the CSA Copper Mine in Australia in October 2025 and has been focused on integrating the mine into the company’s operating standards. CSA is the highest-grade copper mine in Australia with expansion potential. However, the company faces headwinds from higher costs. In the first half of fiscal 2026, the all-in sustaining cost increased 21% year over year. The company’s all-in sustaining cost guidance for fiscal 2026 indicates a year-over-year increase, suggesting inflationary pressure and higher sustaining capital expenditure.  Nonetheless, Harmony Gold boasts a strong balance sheet and generates substantial cash flows, which allows it to finance its development projects and drive shareholder value. Its net debt/EBITDA was at 0.18X and liquidity was $895 million at the end of Dec. 31, 2025.

How Do Estimates Compare for AU & HMY?

The Zacks Consensus Estimate for AngloGold Ashanti’s 2026 earnings is pegged at $9.27 per share, indicating a year-over-year upsurge of 72.6%. The estimates for 2026 have been trending north over the past 60 days.

 

Image Source: Zacks Investment Research

 

The Zacks Consensus Estimate for Harmony Gold’s earnings for 2026 is pegged at $2.65 per share, indicating a year-over-year jump of 108.7%. The estimates for both years have been trending south over the past 60 days.

 

Image Source: Zacks Investment Research

 AU & HMY: Price Performance & Valuation Comparisons

In the past year, the AU stock has skyrocketed 194.6%, whereas HMY has climbed 28.7%.

 

Image Source: Zacks Investment Research

 

HMY is currently trading at a forward 12-month earnings multiple of 5.68X, lower than its five-year median. AU is currently trading at a forward 12-month earnings multiple of 10.42X, lower than its five-year median.

 

Image Source: Zacks Investment Research

 AU or HMY: Which Is the Better Pick?

Both AngloGold Ashanti and Harmony Gold are well-positioned to benefit from the ongoing rally in gold prices, along with their efforts to grow their production capabilities. AngloGold Ashanti has delivered a stronger one-year price performance than HMY. In addition, AU’s recent upward estimate revision, in contrast to HMY’s downward trend, gives it an edge. Given these factors, AU appears to be a more compelling investment choice right now. HMY currently carries a Zacks Rank #4 (Sell), whereas AU carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article first appeared on GuruFocus.

  • Gold Revenue: Increased by 20% to ZAR44 billion.
  • EBITDA: Rose 39% to ZAR18 billion.
  • Operating Profit: Increased by 61% to ZAR16 billion.
  • Net Profit: Increased by 24% to ZAR10 billion.
  • Free Cash Flows: Strong generation, contributing to a 61% increase in operating profit.
  • All-in Sustaining Costs: Rose to ZAR1.18 million per kilogram or USD2,115 per ounce.
  • Interim Dividend: More than doubled to ZAR3.4 billion.
  • Net Debt to EBITDA: At 0.18 times, well below the 1x threshold.
  • Gold Production: 724,000 ounces for the reporting period.
  • Dividend Policy: Revised to allow up to 50% of net free cash as a dividend.
  • Cash and Undrawn Facilities: Around ZAR15 billion or USD900 million.
  • Capital Expenditure: Total group capital expected to be ZAR18.5 billion for FY26.

Release Date: March 11, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

  • Harmony Gold Mining Co Ltd (NYSE:HMY) reported a significant increase in operating profit by 61%, reflecting strong financial performance.
  • The company has revised its dividend policy to potentially return up to 50% of net free cash to shareholders, indicating confidence in cash flow generation.
  • Harmony Gold Mining Co Ltd (NYSE:HMY) achieved an all-time low lost time injury frequency rate of 4.23, emphasizing its commitment to safety.
  • The integration of CSA, Australia's highest-grade copper mine, is progressing well, with significant cost reductions since acquisition.
  • The company is strategically investing in copper projects like Eva and CSA to diversify and enhance its portfolio, aiming for long-term growth and resilience.

Negative Points

  • Harmony Gold Mining Co Ltd (NYSE:HMY) faced challenges with a cyanide shortage and lower plant recoveries, impacting gold production.
  • The company's underground recovered grades decreased by 11% to 5.7 grams per tonne, affecting overall production efficiency.
  • Group all-in sustaining costs rose to ZAR1.18 million per kilogram or USD2,115 per ounce, driven by lower volumes and higher royalties.
  • The Hidden Valley production was disrupted by a tectonic-related mill motor failure and gold shipping delays.
  • The development of the Upper Merrin mine has been paused, pending further drilling to improve orebody confidence, delaying potential production increases.

Q & A Highlights

Q: Could you address the impact of the cyanide shortage and lower recoverability issues? A: The cyanide shortage was a one-off issue due to a force majeure by our sole liquid cyanide supplier in South Africa. We have since normalized levels and are constructing a cyanide dissolution plant to mitigate future risks. The lower recoverability was due to variability in the plant process, but recoveries have now normalized.

Q: Can you elaborate on the new dividend policy and its implications if leverage exceeds 1x? A: The revised policy allows for up to 50% of net free cash to be returned to shareholders, subject to Board discretion and net debt to EBITDA levels. If leverage exceeds 1x, the Board will consider the situation at each reporting period to determine the appropriate dividend payout.

Q: What are the main constraints at the CSA mine, and what steps are being taken to address them? A: The main constraint at CSA is the ventilation circuit, which limits underground mining activities. We are working on establishing additional returns to improve ventilation. Other short-term issues include infrastructure maintenance, such as fixing shaft steelwork. We expect to optimize the mine over the next 18 to 24 months.

Q: How does the acquisition of CSA and Eva Copper impact Harmony's strategy regarding Wafi-Golpu? A: Wafi-Golpu remains a generational asset for Harmony. The focus is on obtaining the necessary permits to advance the project. The acquisition of CSA and Eva Copper strengthens our position and provides optionality, but Wafi-Golpu continues to be a priority due to its quality ore body.

Q: What is the expected production rate for CSA once optimization is complete? A: Currently, CSA is targeting 17,500 to 18,500 tonnes of copper for this financial year. The processing plant has a capacity of 1.8 million tonnes, and we aim to alleviate constraints to increase production. However, it will take time to achieve steady-state production.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

TORONTO, March 10, 2026 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQX: GOTRF) (Frankfurt: B4IF) (the "Company" or "Goliath"), further to its press release dated January 22, 2026 (the “Prior Press Release”), is very pleased to announce that it has received TSX Venture Exchange (“TSXV”) approval and has issued 3,000,000 common shares (the “Consideration Shares”) to The J2 Syndicate and J2 Syndicate Holdings Ltd. (the “Optionors”) pursuant to an amending agreement dated January 21, 2026 (the “Amending Agreement”) which amends its existing property option agreement with the Optionors (the “Option Agreement”) in respect of its Golddigger Property located in the Golden Triangle, B.C., which hosts the high-grade Surebet Gold Discovery. The Consideration Shares have a four month plus one day hold period from the date of issuance.

As a result of the issuance of the Consideration Shares, Goliath has earned the remaining 51% ownership interest in the Golddigger Property and now holds a 100% interest in the property. In addition, Goliath has bought down 1% of the 3% Net Smelter Returns (“NSR”) reducing it to a 2% NSR held by the Optionors.

Other key features of the Amending Agreement include:

  • Goliath must publish a mineral resource estimate (“MRE”) on or before June 1, 2030, and thereafter on every three-year anniversary of June 1, 2030;
  • Goliath will be required to pay the Optionors US$1 for every gold equivalent ounce over 4,000,000 gold equivalent ounces disclosed in an MRE rather than US$1 for every gold equivalent ounce over 2,000,000 gold equivalent ounces; and
    • should there be a change of control prior to Goliath publishing an MRE, the acquirer would assume the obligations of the Company under the Option Agreement, including the requirement to deliver an MRE would be changed from June 1, 2030 to the third anniversary of the date of completion of such change of control.

Proposed McEwen Inc. Warrant Extension

The Company will not be proceeding with the proposed extension of the expiry date of the warrants issued to McEwen Inc., as first disclosed in the Company’s news release dated February 28, 2026. The TSXV did not approve the request as determined by the nature of McEwen Inc. acquiring Goliath units initially press released on January 9, 2025 and completed as an “expedited acquisition” that is treated according to their Policy 5.3. Accordingly, McEwen Inc.'s 2,590,673 common share purchase warrants of the Company with a strike price of $2.50 will expire end of day, March 10, 2026.

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. Goliath completed its largest fully funded drill campaign to date for a total of 64,364 meters in 2025. 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: +1.416.488.2887roger@goliathresources.com www.goliathresourcesltd.com

This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements regarding the terms of the Option Agreement as amended by the Amending Agreement. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.  

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Vancouver, British Columbia–(Newsfile Corp. – March 10, 2026) – Gold Runner Exploration Inc. (CSE: GRUN) (FSE: CE70) ("Gold Runner" or the "Company") is pleased to announce its intention to complete a non-brokered private placement financing (the "Offering") for proceeds of up to $1,500,000 consisting of Critical Minerals Exploration Tax Credit ("CMETC") flow-through units ("FT Units") of the Company at a price of $1.45 per FT Unit and charity flow-through Units ("Charity FT Units", and collectively with the "FT Units", the "Units")) at a price of $1.45 per Charity FT Unit. The Company reserves the right to increase the size of the Offering, subject to the approval of the Canadian Securities Exchange (the "Exchange"). Each Unit will be comprised of one common share ("Common Share") of the Company and one Common Share purchase warrant (the "Warrants"), and each Warrant will entitle the holder thereof to acquire one Common Share of the Company at a price of $1.50 per Common Share for a period of 36 months from the date of issuance.

The securities issued under the Offering will have a hold period expiring four months and one day from the date of issuance pursuant to applicable Canadian securities laws. Closing of the Offering remains subject to regulatory approvals, including approval of the CSE.

Net proceeds from the Offering will be used for exploration of the Company's Golden Girl property situated in the Golden Triangle of British Columbia. The Company optioned the Golden Girl Property from the B-ALL Syndicate, the same team that generated and staked Goliath Resources (TSXV: GOT) Surebet Discovery and contributed to advancing that discovery to where it is today. The B-ALL Syndicate also generated and staked the Big One discovery that was subsequently optioned to Juggernaut Exploration (TSXV: JUGR) and is situated adjacent to Galore Creek. Golden Girl is located approximately mid-way between Goliath's Surebet Discovery and Juggernaut's Big One discovery.

This Offering qualifies for the Critical Mineral Exploration Tax Credit (CMETC) and each Unit shall be comprised of one common share of the Company that will qualify as a CMETC "flow-through share" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)). The Company will incur expenditures that will qualify as "Canadian Exploration Expenses" and "flow-through critical mineral mining expenditures" as those terms are defined in the Income Tax Act (Canada), which will be renounced to the purchasers of the FT Units with an effective date no later than December 31, 2026.

The Company may pay finder's fees to eligible arm's-length third parties on gross proceeds of the Offering, consisting of 6% cash and/or 6% broker warrants, with each broker warrant exercisable for a period of 36 months from the date of issuance at a price of $1.50 per Common Share.

The securities 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 U.S. state security laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

On Behalf of the Board of Directors,

"Chris Wensley"

Chris Wensley, Director & Chief Executive Officer

About Gold Runner Exploration Inc.

Gold Runner Exploration is an exploration company focused on the exploration and development of its portfolio of gold and silver properties located in prolific mining districts of Canada and the United States of America. In British Columbia, Gold Runner holds the option to acquire a 100% interest in the Golden Girl Property, located in the prolific Golden Triangle of Northwestern British Columbia. In North Central Nevada, the Company holds the Rock Creek gold project, the Falcon Mine project and the Dry Creek project, located in the Tuscarora Mountains in close proximity to the world-renowned Carlin Trend. Gold Runner also holds a 10% carried interest in the Cimarron project located in the San Antonio Mountains of Nye County, Nevada, within the Walker Lane Trend.

For further information please contact:

Chris Wensley, Chief Executive Officer and Director639 5th Ave, Suite 1250Calgary, Alberta T2P 0L3Website: www.goldrunnerexploration.comEmail: info@goldrunnerexploration.com

Forward-Looking Information

This news release includes certain information that may be deemed "forward-looking information" under applicable securities laws. All statements in this release, other than statements of historical facts, including but not limited to those that address the Offering, completion (if any) and timing of the same and proposed use of proceeds from the Offering, acquisition of any properties and future work thereon, mineral resource and reserve potential, exploration activities and corporate initiatives. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the results of the Company's due diligence investigations, market prices, exploration successes, continued availability of capital financing, and general economic, market or business conditions, and those additionally described in the Company's filings with the Canadian securities authorities.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company's public filings at www.sedarplus.ca. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/287921

VANCOUVER, BC / ACCESS Newswire / February 18, 2026 / Lupaka Gold Corp. ("Lupaka" or the "Company") (TSXV:LPK)(FRA:LQP) advises as to current progress in pursing the proceeds of the ICSID Arbitration Award initially announced by the Company on July 2, 2025.

On December 31,2025, the Peru Ministry of Mining issued a supreme decree stating that the Ministry of Mines would be carrying out promotional activities at this year's Prospectors & Developers Association of Canada (PDAC) March 1-4, 2026 in Toronto, Canada in an effort to promote investment and foreign-funded development in Peru.

The Company wishes to remind the Republic of Peru and the Peru Ministry of Mines specifically that while they are promoting Peru as a good place to invest they are delinquent in their obligations regarding the Lupaka Gold Arbitration Award issued on June 30, 2025 by the ICSID Tribunal and the related Free Trade Agreement with Canada. It would be prudent for Peru to arrange for the payment of the Company's arbitration award prior to PDAC.

From a recent article in Bloomberg, the Chief Executive of one of Peru's largest banks stated "We continue to have cautious optimism, but we are even a little bit more upbeat because Peru's macroeconomic indicators are performing pretty well," Blomberg continued "Peru is one of Latin America's most stable economies-with low inflation and a strong currency-and a top exporter of copper and gold at a time of record-setting metal prices".

Gordon Ellis (CEO) commented "During this lengthy arbitration and award collection process, the price of gold has ascended from US1,500 to nearly US5,000 per ounce. From all accounts, Peru is financially strong and we see no reason why Peru cannot pay the Award amount immediately."

Award Background: In December 2019, the Company initiated an arbitration claim against the Republic of Peru under the Canada-Peru Free Trade Agreement. The related arbitration process was conducted through the International Centre for Settlement of Investment Disputes (ICSID) and continued until the ICSID Tribunal issued an Award in favour of the Company on June 30, 2025.

Subsequent to the Award date, Peru had 120 days in which to challenge the Award via a request for an annulment. The 120-day period passed on October 28, 2025, with no annulment being requested. Having no further recourse, the Republic of Peru must pay the Award amounts, otherwise risking serious impacts to its desired reputation as a welcoming mining jurisdiction that protects foreign investment.

As of January 31, 2026, accrued interest has brought the total Award to US$68.2 million.

For ongoing updates and more detail with respect to the Arbitration Award, please refer to the Company's website (www.lupakagold.com/projects/arbitration).

For background on the basis for the Claim, please refer to the Company's previous news releases, also available on the Company's website (www.lupakagold.com/news).

Lupaka was represented in the arbitration proceedings by the international law firm LALIVE (www.lalive.law), with the financial backing of Bench Walk Advisors (www.benchwalk.com). Both firms continue to be involved until the Award proceeds are received.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release.

About Lupaka Gold

Lupaka is a Canadian-based company focused on creating shareholder value through the identification and development of mining assets.

About LALIVE

LALIVE is an international law firm with offices in Geneva, Zurich and London, that specializes in international dispute resolution. The firm has extensive experience in international investment arbitration in the mining sector, amongst others, and is currently representing investors and States as counsel worldwide.

About Bench Walk Advisors

Bench Walk Advisors is a global litigation financier with over USD 250 million of capital deployed across in excess of 100 commercial cases. Bench Walk and its principals have consistently been ranked as leading lawyers and litigation funders in various global directories.

FOR FURTHER INFORMATION PLEASE CONTACT:

Gordon Ellis, C.E.O.gellis@lupakagold.com|Tel: (604) 985-3147

or visit the Company's profile at www.sedar.com or its website at www.lupakagold.com

SOURCE: Lupaka Gold Corp.

View the original press release on ACCESS Newswire

Vancouver, British Columbia–(Newsfile Corp. – January 23, 2026) – Gold Runner Exploration Inc. (CSE: GRUN) (FSE: CE7) ("Gold Runner" or the "Company") is pleased to announce that it has entered into an Option Agreement with the B-ALL Syndicate Ltd. ("B-All" or the "Optionor") to acquire a 100% interest in the Golden Girl Property ("Golden Girl Property", "Golden Girl" or "Property"), from the B-ALL Syndicate.

Chris Wensley, CEO of Gold Runner states, "We are excited to begin exploration on the Golden Girl property located in an underexplored part of British Columbia's renowned Golden Triangle. The excellent work done by the B-ALL Syndicate team who generated the property allows us to get right into it with follow up prospecting and mapping of known high-grade gold targets in preparation for future drilling. This is the same team that generated and staked Goliath Resources (TSXV: GOT), Surebet Discovery and contributed to advancing that discovery to where it is today. The B-ALL Syndicate also generated and staked the Big One discovery that was subsequently optioned to Juggernaut Exploration (TSXV: JUGR), who are actively exploring the project with drilling to commence this summer. We are looking forward to unlocking the full potential of this brand new discovery and bring long term value to our share holders."

Golden Girl is only 17 kilometers (km) from the Snip Mine and 14 km from the Bronson Air Strip, making for cost-effective exploration in the heart of the Golden Triangle of North-Western British Columbia.

Recent exploration, conducted by B-ALL, has identified a large new gold-silver system measuring 12 km by 7 km on the Golden Girl Property. The system features a gold-rich core surrounded by a silver-rich halo. Highlights from the 2024 exploration program include grab samples assaying up to 11.28 g/t Au, 3,262 g/t Ag, 5.37% Cu, 20% Pb, and 14.15% Zn and channel cuts assaying up to 3.74 g/t Au, 2105.45 g/t Ag, 0.88% Cu, 5.48% Pb and 7.42% Zn. Forty-seven (47) samples collected on the Property returned values exceeding 1 g/t AuEq (see table below for samples >1 g/t AuEq).

The Golden Girl property covers an area of 8,471 hectares (ha) located in the Iskut River region of Northwestern British Columbia. This acquisition places the Company in a richly endowed, underexplored geologic terrane in the heart of the Golden Triangle, approximately 17 km from the past-producing Snip Gold Mine, which historically produced approximately 1 million ounces of gold, 390,000 ounces of silver and 249,276 kilograms of copper (at an average 127.5 grams per ton gold over 8 years). Eskay Creek, which lies approximately 60 km east of Golden Girl, produced approximately 3.3 million ounces of gold and 160,000 ounces of silver between 1994 and 2008 (with an estimated 3.3 million ounces of gold, 88 million ounces of silver in reserves). Golden Girl is also located approximately mid-way between Goliath Resources Limited's Gold Digger/Surebet discovery and Juggernaut Exploration Ltd.'s Big One property, almost next door to Newmont's Galore Creek. The reader is reminded that the information provided herein from neighbouring projects and properties is not necessarily indicative of resources and should not be relied upon for the determination of mineralization or potential results of the Company's properties.

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/7042/281374_299315b9d415d99a_002full.jpg

High-grade mineralization at Golden Girl occurs in structurally controlled shear zones within sulphide-rich veins, stockwork, and breccias, similar to the nearby Snip Gold Mine. Hydrothermal fluids took advantage of pre-existing structures to deposit gold-silver rich mineralization as well as sulphides such as chalcopyrite, galena and sphalerite associated with quartz-carbonate rich veins. Pervasive alteration associated with fluid infiltration is often observed surrounding the zones of strong gold-silver mineralization.

More than 95% of the Golden Girl property remains unexplored. Rapid glacial retreat and snowpack abatement over the last 35 years have revealed vast areas of new outcrop that have never seen historical surface exploration. The Company is planning additional prospecting, sampling and mapping in areas surrounding the known mineralized showings, as well as detailed work augmented by geophysical survey in areas around the known drill ready targets in preparation for the inaugural drill program.

The Golden Girl Property is strategically located near major regional infrastructure with year-round helicopter access from the Forrest Kerr Road (39 km east), as well as in close proximity to a maintained power line and an active air strip. The project exploration qualifies for the Critical Mineral Exploration Tax Credit (CMETC).

Table 1: Golden Girl Property Samples with assays >1 g/t AuEq.

Sample ID Sample Type Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) AuEq (g/t)
D751631 Grab 5.50 3261.82 1.09 8.78 0.45 45.16
D751628 Grab 8.59 1769.68 2.86 17.40 10.60 38.39
D751915 Grab 0.92 2531.45 1.89 3.40 10.40 35.12
D751738 Channel 3.74 2105.45 0.88 5.48 7.42 31.66
D751551 Grab 11.28 1465.23 0.23 0.51 0.41 28.14
D751629 Grab 1.32 1828.17 2.10 7.18 0.27 25.60
D751807 Grab 0.17 1558.66 0.37 8.07 14.15 24.06
D751554 Grab 0.25 1114.15 0.63 1.22 0.09 13.66
D751552 Grab 5.48 644.81 0.13 0.27 0.39 13.00
D751735 Channel 0.44 812.73 0.65 2.45 1.82 11.29
D751516 Channel 1.80 82.99 0.05 20.00 12.30 10.89
D751723 Float 5.07 2.75 5.37 0.10 0.46 10.86
D751919 Chip 10.51 24.31 0.01 0.06 0.11 10.84
D751535 Grab 3.44 369.77 0.28 5.95 1.30 9.56
D751617 Grab 0.74 215.28 0.03 20.00 5.11 9.09
D751514 Channel 2.52 2.75 0.18 11.95 3.42 6.39
D751886 Grab 0.02 337.96 0.16 1.59 4.65 5.74
D751664 Grab 0.59 411.92 0.22 0.01 0.03 5.44
D751614 Chip 0.23 75.70 0.02 3.46 6.69 3.89
D751515 Channel 0.27 90.68 0.01 6.12 3.02 3.55
D751543 Grab 0.25 230.57 0.34 0.54 0.49 3.44
D751736 Channel 0.22 247.74 0.13 0.84 0.10 3.34
D751663 Grab 0.60 127.98 0.21 2.00 1.62 3.18
D751659 Grab 0.65 131.22 0.18 0.74 0.65 2.67
D751612 Chip 0.08 37.65 0.02 2.93 4.30 2.47
D751615 Grab 0.36 83.42 0.07 2.95 0.47 2.15
D751906 Grab 0.08 70.23 0.03 2.11 2.61 2.15
D751825 Grab 0.22 39.98 0.07 1.58 2.27 1.77
D751737 Channel 1.27 33.97 0.04 0.12 0.02 1.73
D751534 Grab 0.98 57.04 0.01 0.18 0.06 1.69
D751513 Talus 0.13 95.98 0.02 0.59 0.65 1.55
D751002 Channel 0.03 2.75 0.04 5.10 1.09 1.54
D751508 Chip 0.47 31.23 0.68 0.01 0.01 1.54
D751959 Chip 0.03 32.57 0.03 0.12 3.43 1.50
D751645 Chip 0.09 73.95 0.38 0.05 0.04 1.34
D751646 Grab 0.06 87.81 0.27 0.02 0.04 1.34
D751003 Channel 0.02 33.09 0.01 2.41 1.17 1.28
D751809 Grab 0.01 11.20 1.06 0.00 0.01 1.24
D751547 Channel 0.05 53.39 0.08 0.84 0.97 1.21
D751745 Float 0.83 6.46 0.27 0.01 0.01 1.19
D751883 Grab 0.02 16.52 0.00 1.22 2.29 1.17
D751922 Float 0.16 15.51 0.78 0.01 0.01 1.15
D751899 Channel 0.01 14.97 0.00 0.70 2.51 1.10
D751549 Channel 0.04 23.75 0.01 1.24 1.65 1.09
D751546 Channel 0.05 41.31 0.02 0.93 1.08 1.06
D751608 Talus 0.09 7.30 0.55 0.08 0.92 1.05
D751509 Grab 0.25 21.33 0.50 0.01 0.01 1.02

 

Terms of the Option Agreement

The Terms of the Option Agreement are as follows:

  • the Company will pay a non-refundable deposit of $250,000 to B-All (the "Escrow Funds") in trust and subject to the approval by the Canadian Securities Exchange ("CSE") (the "Regulatory Approvals") by September 2, 2026, as the initial payment under the Option Agreement, and if such approvals are not obtained by September 2, 2026 the Escrow Funds will be provided to B-All in full as a break fee;

  • The company will issue to B-All 1,830,000 common shares of the Company at the closing price of the date of execution of the Option Agreement and 1,830,000 common share purchase warrants ("Warrants"), with such Warrants being exercisable within five (5) years from the date of issuance at an exercise price equal to the closing price of the common shares of the Company on the CSE on the day prior to issuance plus $0.01 per Warrant (the common shares and Warrants, shall herein be referred to as, the "Trigger Date Securities"), and the Trigger Date Securities shall be issued in escrow and remain in escrow until receipt of the Regulatory Approvals regarding any necessary approvals for the Option Agreement and if such approvals is not obtained, the Trigger Date Securities shall be cancelled and returned to treasury of the Company;

  • The Company will incur a minimum of $1,500,000 in exploration expenditures, prior to October 1, 2027;

  • Upon each of the 1st through 6th anniversaries, the Company will pay $250,000 in cash to B-All no later than the respective anniversary (1st through 6th) of the Regulatory Approvals and issue 1,830,000 common shares at a deemed price equal to the closing price of the Company shares on the CSE on the last trading day prior to such issuance date and 1,830,000 common share purchase warrants (respective "First through Sixth Anniversary Warrants") exercisable within 5 years from the date of issuance at an exercise price equal to the closing price of the shares on the CSE on the last trading day prior to such issuance date plus $0.01 per each respective anniversary warrant;

  • the Company will incur a minimum of $3,000,000 in total exploration expenditures prior to October 1, 2029;

  • the Company will issue to B-All, not later than the seventh anniversary of the Regulatory Approvals, 4,000,000 common shares at the closing price of the Company shares on the CSE on the last trading day prior to the date of issuance and 4,000,000 common share purchase warrants ("Seventh Anniversary Warrants") exercisable within 5 years from the date of issuance at an exercise price equal to the closing price of the common shares of the Company on the CSE on the last trading day prior to the date of issuance plus $0.01 per Seventh Anniversary Warrant;

  • the Company will incur a minimum of $10,000,000 in Exploration Expenditures (including the previous annual expenditure amounts) not later than the seventh anniversary of the Regulatory Approvals (for total exploration expenditures of a minimum of $10,000,000) and filing and registering a work/assessment report under the Mineral Tenure Act for 100% of such exploration expenditures and delivering and filing on SEDAR+, not later than the seventh anniversary of the Regulatory Approval Date, a National Instrument 43-101 Technical Report on the Property (the "Initial NI 43-101 Report") which is based on the results of all exploration expenditures incurred on the Golden Girl Property prior to December 31 of the immediately preceding calendar year and includes a resource estimate of gold equivalent mineral reserves (proven and probable) and gold equivalent mineral resources (measured, indicated and inferred categories) (such resource estimate being herein referred to as the "Initial Resource" and each ounce of gold equivalent reserves and resources set out in the Initial NI 43-101 Report and all other NI 43-101 technical reports published in respect of the Property or part thereof being herein referred to as an "Ounce"), and paying to the Syndicate within five (5) Business Days of the date of such delivery and SEDAR+ filing (in such names and amounts as shall be set out in the Syndicate List most recently provided by the Syndicate), USD $3.00 in respect of each Ounce contained in the Initial Resource.

  • Having met and satisfied all of the above, Gold Runner will have exercised the Option.

    • If the option is exercised and the Company acquires the Golden Girl Property, there are additional bonus payments in cash that may be provided by the Company to B-All, based on additional Ounces defined in future National Instrument 43-101 Technical Report filed by the Company, subject to certain extensions.

    Upon exercise of the Option, a royalty will be reserved to the Syndicate and the Company will pay the Royalty to the Syndicate (in cash or in kind [i.e. gold] at the option of the Syndicate); provided that the Company shall have the option to reduce the royalty from four percent (4%) to three Percent (3%) by paying USD $2,000,000 to the Syndicate not later than 24 months after the date of exercise of the Option.

    The Option Agreement will be filed on SEDAR+ and the full terms of the Option can be found therein on the Company's SEDAR+ profile at www.sedarplus.ca.

    Gold Runner CEO, Chris Wensley further states: "We are thrilled to have acquired the Golden Girl Option, and we are excited to begin work to build on the initial high grade poly metallic findings generated by the B-ALL Syndicate with a view to confirming a significant discovery. We are also very pleased to welcome the B-All Syndicate, Goliath Resources (TSXV: GOT), and Juggernaut Exploration (TSXV: JUGR) as significant corner stone shareholders as we move forward together."

    Qualified Person

    This News Release has been approved by Alan Morris, M.Sc., CPG #10550. Alan J. Morris is a Qualified Person as defined by NI 43-101 and has reviewed the scientific and technical disclosure included in this news release.

    About Gold Runner Exploration Inc:

    Gold Runner Exploration is an experienced exploration company focused on the exploration of gold and silver properties located in the prolific and Geopolitically stable mining districts of North Western British Columbia and Nevada.

    The Rock Creek gold project is Gold Runner's flagship asset, with 74 unpatented lode mining claims wholly owned and controlled by the Company. Emboldened by the results coming out of Rock Creek, the Company strategically expanded the land position with the acquisition of the nearby Dry Creek prospect and the acquisition of the Falcon silver-gold prospect in September 2022. Between the three properties, all targeting similar mineralization and likely the same hydrothermal system, Gold Runner Exploration now holds 239 total claims in close proximity of one another. These three gold prospects are situated in a region with proven "world-class" gold deposits (including Midas, Jerritt Canyon, Betze-Post, Meikle, and Gold Quarry), where the potential of finding large, high-grade gold-silver deposits is favourable.

    Gold Runner also holds a 10% carried interest in the Cimarron project located in the San Antonio Mountains of Nye County, Nevada, and comprises 31 unpatented lode mining claims, including control of 6 historically producing claims associated with the historic San Antonio mine. The property is located in the prolific Walker-Lane trend, approximately 44 km south of the "world-class" Round Mountain deposit.

    About B-ALL Syndicate Ltd.

    The B-ALL Syndicate is a highly specialized geologic team of project generators with a proven track record of success. The Syndicate is focused in unexplored areas of glacial and snowpack retreat providing new opportunity for material discovery in renowned geologic terrain. Projects generated by the same team include Goliath Resources' Surebet discovery on the Golddigger Property, Juggernaut Exploration's Big One discovery as well as multiple additional material discoveries. More information is available at https://www.ball-syndicate.com/.

    For further information, please contact:

    Chris Wensley, Director, Chief Executive OfficerEmail: info@goldrunnerexploration.comWebsite: www.Goldrunnerexploration.com

    Forward-Looking Information

    This news release includes certain information that may be deemed "forward-looking information" under applicable securities laws. All statements in this release, other than statements of historical facts, including but not limited to those statements relating to the properties exploration work and its results and potential, interpretations prospecting and exploration activities, geological, geophysical, and geochemical surveys, studies and interpretations of historical exploration and geological information, permitting, licences, environmental laws and regulations, changes in government regulations and laws, obtaining social licence to explore and operate, community engagements, timing of exploration activities, economic, competitive, reliance on third parties, the actual results of operations, and other risks of the natural resources industry, and mineral resource and reserve potential, exploration activities and events or developments that the Company expects is forward-looking information. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the results of the Company's due diligence investigations, market prices, exploration successes, continued availability of capital financing, and general economic, market or business conditions, and those additionally described in the Company's filings with the Canadian securities authorities.

    Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company's public filings at www.sedarplus.ca. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

    NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281374

    Goliath Resources Limited (GOT.V) entered Thursday into an agreement to amend its existing property option agreement with The J2 Syndicate and J2 Syndicate Holdings Ltd. to "fast track" its ownership in the Golddigger Property located in the Golden Triangle, B.C. that hosts the high-grade Surebet gold discovery to 100%, from 40%. It will also reduce the Net Smelter Returns held by the syndicate from 3% to 2% for consideration including the issuance of 3 million Goliath common shares to the syndicate (no warrants) not later than March 15, 2026. The proposed transaction is subject to TSXV approval.

    The company in a statement said other significant amendments to the existing property option agreement include: Goliath is to publish a Maiden Resource Estimate (MRE) on the Golddigger Property or before June, 1 2030, and on every 3 year anniversary of June 1, 2030, thereafter vs. the requirement in the original agreement to publish the MRE by June 1, 2027, and every 3 year anniversary thereafter.

    Goliath will pay the Syndicate US$1 for every gold equivalent ounce over 4 million gold equivalant ounces in the MRE vs. the requirement in the original agreement to pay the Syndicate US$1.0 million plus US$1 for every gold equivalent ounce over 2 million gold equivalent ounces; also, should there be a change of control of Goliath prior to Goliath publishing a MRE, the acquirer would generally assume Goliath's obligations under the amended agreement although the requirement to deliver an Initial Resource Report (MRE) would be changed from June 1, 2030, to the third anniversary of the date of completion of the Change of Control transaction and the payment exemption for the first 4 million gold equivalent ounces in the MRE would be removed.

    The company's key strategic cornerstone shareholders include Crescat Capital, a Global Commodity Group (Singapore), McEwen Inc. (NYSE and TSX: MUX), Waratah Capital Advisors, Rob McEwen, Eric Sprott and Larry Childress.

    Shares in GOT fell 4.2% in Canada yesterday.

    Goliath Resources Limited

    TORONTO, Jan. 22, 2026 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (Frankfurt: B4IF) (the "Company" or "Goliath") is very pleased to announce that it has entered into an agreement to amend its existing property option agreement with The J2 Syndicate and J2 Syndicate Holdings Ltd. (the “Syndicate”) to fast track its ownership in the Golddigger Property located in the Golden Triangle, B.C. that hosts the high-grade Surebet gold discovery from 49% to 100% and to reduce the Net Smelter Returns (“NSR”) held by the Syndicate from 3% to 2% for consideration including the issuance of 3,000,000 Goliath common shares to the Syndicate (no warrants) not later than March 15, 2026. The contemplated transaction is subject to TSXV approval.

    Other significant amendments to the existing property option agreement include:

    • Goliath is to publish a Maiden Resource Estimate (MRE) on the Golddigger Property or before June, 1 2030 and on every 3 year anniversary of June 1,2030 thereafter vs. the requirement in the original agreement to publish the MRE by June 1, 2027 and every 3 year anniversary thereafter;

    • Goliath will pay the Syndicate US$1 for every gold equivalent ounce over 4,000,000 gold equivalant ounces in the MRE vs. the requirement in the original agreement to pay the Syndicate US $1.0 million plus US$1 for every gold equivalent ounce over 2,000,000 gold equivalent ounces; and

    • Should there be a change of control of Goliath prior to Goliath publishing a MRE, the Acquirer would generally assume Goliath’s obligations under the amended agreement although the requirement to deliver an Initial Resource Report (MRE) would be changed from June 1, 2030 to the third anniversary of the date of completion of the Change of Control transaction and the payment exemption for the first 4,000,000 gold equivalent ounces in the MRE would be removed.

    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. Goliath recently completed its largest drill campaign to date for a total of 64,364 meters in 2025. It is fully funded for a similiar sized drill program in 2026. A total of 110 holes have assays pending for gold equivalent results from its 2025 drill program. 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: +1.416.488.2887roger@goliathresources.comwww.goliathresourcesltd.com

    This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements regarding the Consolidation Proposal (including the completion of the Consolidation Proposal on the terms and timeline as announced or at all and the timing to implement the Consolidation Proposal), and the Company’s ability to obtain all regulatory approvals, including the approval of the Exchange. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Gold Fields Limited’s GFI shares hit a fresh 52-week high of $53.31 yesterday, before retracing slightly to close the session at $52.89.

    GFI has shot up 227.7% over the past year. The company has also outperformed the Zacks Mining-Gold industry’s 148.1% rise over the same time frame. The rally has been driven primarily by gold prices surging to fresh highs yesterday on concerns over a U.S.-EU trade war and mounting tensions over Greenland, boosting safe-haven demand, further supported by a weaker U.S. dollar. 

    Image Source: Zacks Investment Research

    Let’s take a look at the factors that are driving GFI stock. 

    GFI Gains From Strong Production and Strategic Growth

    Gold Fields delivered a strong third-quarter 2025 performance, with group attributable gold-equivalent production of 621,000 ounces, up 6% quarter on quarter and 22% year on year, led by the ramp-up at Salares Norte in Chile, which produced 112,200 ounces, a 53% quarterly increase. Commercial production, improved throughput and recoveries were achieved alongside cost discipline, with All-in Sustaining Costs (AISC) down 10% quarter on quarter to $1,557/oz and All-in Costs (AIC) down 11% to $1,835/oz. Australian assets Gruyere and St Ives remained steady, while South Deep in South Africa benefited from improved underground access and operational optimization. 

    Gold Fields’ growth strategy combines organic project development and strategic acquisitions to enhance scale and portfolio quality. Key highlights include the Salares Norte project in Chile, which reached commercial production in 2025 and is ramping up throughput and recoveries, and the 2024 acquisition of Osisko Mining, giving full ownership of the Windfall project in Quebec, targeting 300,000 ounces annually at an AISC of $758/oz with FID expected in the first quarter of 2026.  

    In Australia, Gold Fields completed its A$3.7 billion acquisition of Gold Road Resources, securing full ownership of the Gruyere mine, producing 350,000 ounces annually. South Deep in South Africa continues to optimize production, while St Ives in Australia contributed 184,500 ounces in the first half of 2025, supported by new open pits. 

    GFI’s Zacks Rank & Key Picks

    GFI currently carries a Zacks Rank #3 (Hold). 

    Some better-ranked stocks in the Basic Materials space are Centerra Gold Inc. CGAU, Agnico Eagle Mines Limited AEM, and Harmony Gold Mining Company Limited HMY. 

    At present, CGAU and AEM sport a Zacks Rank #1 (Strong Buy), while HMY carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. 

    The Zacks Consensus Estimate for CGAU’s current fiscal-year earnings is pinned at 98 cents per share, indicating a 38.03% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters while missing once, with the average surprise being 21.63%. Its shares have popped around 198.7% over the past year.

    The Zacks Consensus Estimate for AEM’s current-year earnings stands at $7.93 per share, implying an 87.5% year-over-year increase. Its earnings beat the Zacks Consensus Estimates in each of the trailing four quarters, with the average earnings surprise being 11.63%. AEM’s shares have rallied roughly 134.3% over the past year.

    The Zacks Consensus Estimate for HMY’s current-year earnings is pegged at $2.68 per share, indicating a year-over-year rise of 111%. HMY’s shares have gained 120.1% over the past year.

    Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

    Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report

    Gold Fields Limited (GFI) : Free Stock Analysis Report

    Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

    Centerra Gold Inc. (CGAU) : Free Stock Analysis Report

    This article originally published on Zacks Investment Research (zacks.com).

    Zacks Investment Research

    Goliath Resources (GOT.V) reported Tuesday the latest high-grade intersections from the 2025 drill campaign at the Surebet discovery within its Golddigger property in British Columbia.

    Assays include 19.13 grams per ton gold over 6.10 meters and 10.58 g/t gold over 8.30 m.

    The company said its drilling significantly expanded the extent of gold mineralization in all five main zones, which remain open.

    Goliath said it is awaiting gold equivalent results from the final 110 drill holes of the program.

    "The Surebet high-grade gold discovery continues to grow during every new season of drilling," founder and chief executive officer Roger Rosmus said.

    The company said its 2026 drill program will mainly focus on expanding the five main mineralized zones.

    "We are in the best financial position the company has ever been in as we are fully funded for our 2026 drilling campaign and are looking forward to expanding on the tremendous Surebet high-grade gold discovery," Rosmus said.

    At Surebet, 110 Holes From 2025 Are Pending Assays For Gold Equivalent Results

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    • This news release includes the final 70 holes completed during the 2025 drilling campaign that were assayed for Gold Only. Assays are still pending for 110 drill holes from 2025 for multi-element gold equivalent (AuEq) results. These results will be released in the near future once all assays have been received, compiled and interpreted.
    • 100% of the drill holes completed to date, have all intersected gold mineralization clearly demonstrating the remarkable continuity, grades, and widths in 5 Main Gold-Rich Zones comprising 46 mineralized lodes that remain open for expansion.
    • Of the holes drilled during the 2025 campaign, 83 out of 110 holes (or 76%) contained visible gold to the naked eye (VG-NE).
    • The fully funded 2026 drill program will be mainly focused on expanding the 5 Main Mineralized Zones. Data compilation and interpretation is underway which will be used to vector in on the indicated Motherlode causative intrusive source to this extensive high grade gold system with widespread VG-NE.

    DRILL HIGHLIGHTS:

    All intercepts below are approximately true width, and these assays reflect gold only (The gold equivalent (AuEq) values in all 110 drill hole intervals will be adjusted accordingly and announced, once the Silver, Copper, Lead and Zinc values are received, compiled and interpreted):

    GD-25-319

    GD-25-405

    • Drill hole GD-25-405 intersected 10.58 g/t Au over 8.30 meters, including 14.04 g/t Au over 6.25 meters including 15.50 g/t Au over 5.60 meters from a quartz-sulphide breccia, part of the Bonanza Zone, containing multiple occurrences of VG-NE; see image below.
    • Additional intervals include 3.25 meters of 2.47 g/t Au in quartz-sulphide veins part of the Surebet Zone.

    GD-25-312

    GD-25-345

    • Drill hole GD-25-345 intersected 4.47 g/t Au over 6.00 meters including 6.68 g/t Au over 4.00 meters, including 7.93 g/t Au over 3.36 meters from a series of quartz-sulphide veins, part of the Golden Gate Zone, containing multiple occurrences of VG-NE as well as semi-massive to massive sphalerite and pyrrhotite; see image below.
    • Additional separate intervals include 3.92 g/t Au over 3.79 meters part of the Whopper Zone and 3.83 g/t Au over 3.78 meters.

    GD-25-330

    GD-25-326

    GD-25-401

    • Drill hole GD-25-401 intersected 4.89 g/t Au over 5.00 meters, within 2.96 g/t Au over 8.89 meters, part of the Surebet Zone, from a brecciated and strongly calc-silicate altered section; see image below.
    • Additional intervals include 3.0 g/t Au over 4.11 meters part of the Surebet Zone, as well as 2.4 g/t Au over 3.1 meters, part of the Golden Gate Zone.

    GD-25-349

    GD-25-367

    • Assay results from the recently completed 64,364 meters of drilling have significantly expanded the extent of the high-grade gold mineralization at the Surebet Discovery that remains open for expansion laterally and at depth. The updated model for the Surebet system, which includes all the 2025 gold assay results, consists of 5 extensive mineralized zones comprising 46 gold-rich lodes as well as gold-rich Eocene-aged RIRG dykes:

    UPDATED 3D MODEL VIDEO (CLICK HERE)

    • 100% of the drill holes completed to date on the Surebet Discovery have intersected substantial quartz-sulphide mineralization. In 2025, VG-NE was observed in 83 drill holes out of 110 (or 76%).
    • 355 out of 386 representing 92% drilled to date at the Surebet Discovery contain VG-NE (see heat map below).
    • The remarkable continuity, widths and grades demonstrated by drilling in multiple lodes shows this extensive 1.8 km2 gold system continues to demonstrate strong potential to become one of the most significant gold discoveries in British Columbia’s Golden Triangle in many years. The strong results received to date will help vector in on drilling targets that remain open with excellent expansion potential.
    • High-grade gold has been identified in three distinct rock packages discovered to date at the Surebet Discovery. This includes the gently dipping gold-rich stacked quartz-sulphide breccias/stockwork veins; the gold-rich intermediate to felsic Eocene-aged dykes; and the recently discovered broad gold-rich zones of calc-silicate altered breccia. All mineralized rock types contain substantial amounts of VG-NE (from fine-grained to coarse-grained gold) and remain open for expansion. This confirms the presence of a Motherlode magmatic source nearby, a causative intrusion responsible for the extensive 1.8 km2 high-grade gold system at Surebet.

    TORONTO, Jan. 20, 2026 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report assay results (gold only) for the remaining holes from the 2025 drill campaign at the Surebet Discovery on its 100% controlled Golddigger Property (the “Property”), Golden Triangle, British Columbia. Highlights include drill hole GD-25-319 which intersected 19.13 g/t Au over 6.10 meters as well as drill hole GD-25-405 which intersected 10.58 g/t Au over 8.30 meters. Every drill hole completed so far, including all 110 holes from the 2025 season, has successfully intersected gold mineralization. These results confirm predictable continuity, grade, and width across 5 Gold-Rich Zones and 46 Distinct Lodes, all of which remain open for expansion. The fully funded 2026 drill program will focus on expanding the 5 Main Mineralized Zones, testing the Motherlode causative intrusive source, and build toward a future resource.

    Dr. Quinton Hennigh, Geologic & Technical Advisor to Crescat Capital, a strategic investor in Goliath, states: “The consistent reporting of thick high-grade gold intercepts from Surebet is remarkable. Yet again, we see in this news release several more holes that demonstrate the strong predictability of this lode system. Visible gold in core consistently delivers strong assays. While we have to remain patient to see the gold equivalent results from the final 110 drill holes, the confidence around the continuity of these lodes, their thickness and grade is growing with every release. Goliath is doing a great job to continually update the geologic model, with the assistance from the Colorado School of Mines, to show the remarkable Surebet gold discovery.”

    Mr. Roger Rosmus, Founder & CEO of Goliath states: “The Surebet high-grade gold discovery continues to grow during every new season of drilling. To date, we have discovered a series of stacked gently dipping high-grade gold veins analogous to the Pogo mine in Alaska. In addition, we have started to drill into a series of vertical Eocene-aged RIRG dykes were emplaced roughly the same as the stack veins. We have yet to find the limits of the stacked veins and RIRG dykes, which all remain open, or the source of where they come from, but we are excited about using them to vector into the Motherlode source. What is outstanding about the various high-grade gold mineralization is the vast distribution VG-NE over a large area, which makes the Surebet discovery unique. Another intriguing aspect of the VG-NE is that at the top of the system it is fine-grained and sporadic and as we drill deeper into the system it becomes abundant and course-grained. Which has us excited about following it toward the source. We have two sets of stacked veins (the Surebet series and Bonanza series) that dip in opposite directions but come together at the Hinge Zone. It is becoming clearer, especially through our 2025 drilling campaign, that the Hinge Zone has the potential to be a starter zone for underground high-grade gold bulk mining. Our team, including key people at the Colorado School of Mines, are excited about the advanced geological studies to help us prepare for the 2026 drilling season. We are in the best financial position the company has ever been in as we are fully funded for our 2026 drilling campaign and are looking forward to expanding on the tremendous Surebet high-grade gold discovery.”

    Assay results from the recently concluded 64,364-meter drill program have significantly expanded the high-grade footprint of the Surebet Discovery, which remains open for further growth. An updated geological model incorporating all 2025 data identifies 5 primary mineralized Zones: Bonanza, Surebet, Golden Gate, Whopper, and Eldorado. Collectively these Zones comprise 46 gold-rich lodes and associated Eocene-aged RIRG dykes.

    Table 1: Five main modelled gold rich zones and dykes.

    Zone Number of lodes Dimensions Key Intercept Status
    Bonanza 5 1.8 km x 1.1 km x 19 m 13.53 g/t AuEq over 11 m Remains Open
    Surebet 9 1.2 km x 930 m x 19 m 21.08 g/t AuEq over 23 m Remains Open
    Golden Gate 18 1.3 km x 820 m x 14 m 34.52 g/t AuEq over 39 m Remains Open
    Whopper 12 800 m x 450 m x 6 m 32.67 g/t AuEq over 4 m Remains Open
    Eldorado 2 680 m x 700 m x 5 m 7.91 g/t AuEq over 7.15 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

    Reported assay results from the 2025 drill campaign have yielded several high-grade gold intercepts across the Golden Gate, Bonanza, and Surebet Zones, characterized by frequent occurrences of VG-NE, as well as substantial sulphide mineralization. Highlights include drill hole GD-25-319 which intersected 19.13 g/t Au over 6.10 meters, including 22.86 g/t Au over 5.10 meters, including 29.09 g/t Au over 4.00 meters from the Golden Gate Zone. Drill hole GD-25-405 which intersected 10.58 g/t Au over 8.30 meters, including 14.04 g/t Au over 6.25 meters including 15.50 g/t Au over 5.60 meters from the Bonanza Zone, and drill hole GD-25-312 which intersected 10.56 g/t Au over 3.70 meters from the Surebet Zone. The gold grades, coupled with VG-NE within substantial quartz-sulphide veins, stockworks, and breccias, which are mineralized with sphalerite, pyrrhotite, and chalcopyrite, highlight the potential for further expansion. These intercepts are approximately true width, and the assays reflect gold only. Multi-element gold equivalent grades for all drill holes will be released once all assays have been received, compiled and interpreted in the near future. See Table 2 below for a full list of assay results for all the remaining holes of the 2025 drill campaign.

    High-grade gold has been identified in three distinct rock packages discovered to date at the Surebet Discovery. This includes the gently dipping gold-rich stacked quartz-sulphide breccias/stockwork veins; the gold-rich intermediate to felsic gold-Rich dykes; and the recently discovered broad gold-rich zones of calc-silicate altered breccia. All mineralized rock types contain substantial amounts of VG-NE (from fine-grained to coarse-grained gold) and remain open for expansion. This confirms the presence of a Motherlode magmatic source nearby, a causative intrusion responsible for the extensive 1.8 km2 high-grade gold system at Surebet.

    The remarkable continuity, widths and grades encountered across multiple lodes underscore the significance of this 1.8 km2 gold system which has strong potential to become one of the most significant gold discoveries in British Columbia’s Golden Triangle in many years. Success to date has effectively vectored toward several open targets, providing a strong foundation for further expansion in the 2026 drilling campaign.

    Surebet Discovery Highlights

    • Assay results are still pending for 110 holes from the 2025 exploration campaign for the gold equivalent (AuEq) values, that will be announced once received, compiled and interpreted.
    • 83 out of 110 holes (or 76%) drilled in 2025 contain VG-NE, 100% of holes drilled to date at the Surebet Discovery have intersected substantial quartz-sulphide mineralization. See news releases dated: November 17, 2025, October 27, 2025, September 22, 2025, September 8, 2025, August 26, 2025, and July 28, 2025.
    • 60 out of 64 holes (or 94%) drilled in 2024 contain VG-NE up to 11.5 mm (7/16 inches) in size, all of which returned high-grade gold. 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 and July 30, 2024.
    • 92% of the holes (355 out of 386) drilled to date at Surebet contain VG-NE (see heat map above).
    • The best hole drilled to date is GD-24-260 previously reported from the Bonanza Zone 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 RIRG 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.
    • The best hole drilled to date from the third distinct rock package consisting of calc-silicate altered breccia is drill hole GD-25-337, which intersected 10.60 g/t Au over 22.82 meters, including 15.19 g/t Au over 15.71 meters, including two separate intervals consisting of 37.28 g/t Au or 1.20 oz/t Au over 3.36 meters and 36.11 or 1.16 oz/t Au over 3.08 meters. The intercept is approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received and interpreted). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below.
    • Multiple gently dipping gold-mineralized stacked veins have been identified every year on the Surebet high-grade gold discovery. Recent discoveries include gold-rich RIRG dykes, Goldilocks Zones where the veins and vertical dykes crosscut (which are characterized by having high-grade gold in two temperature regimes) and recently discovered high-grade gold in a third distinct rock package characterized by calc-silicate altered breccia, which increases potential tonnage and gold content of the high-grade gold system at the Surebet Discovery.
    • The footprint of the mineralization discovered to date at Surebet is 1.8 km2 and remains open in all directions.
    • Thanks to the mountainous topography, mineralization in the veins is exposed on the surface for 2.1 km of strike (1.0 km on the south slope and 1.1 km on the north slope) with a vertical relief of 700 meters.
    • A study completed by the Colorado School of Mines confirms a new interpretation of the ore forming process of high-grade gold mineralization at Surebet and outlines a common magmatic source for the high-grade gold system, now in three distinct rock packages. Which gives the Surebet untapped discovery potential to increase tonnage and gold content in the various known rock packages. Until this study, researchers and explorers in the Golden Triangle had not recognized the high-grade gold discovery potential in the Eocene-aged RIRG 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.
    • Goliath has drilled over 156,000 meters with over 600 pierce points in the Surebet Discovery located at the Golddigger property between 2021 and 2025.
    • The Surebet Discovery has predictable continuity and good metallurgy with gold recoveries of 92.2% from gravity and flotation at a 327-micrometer crush including 48.8% free gold recovery from gravity alone (no cyanide required to recover the gold). The metallurgy completed to date shows a benign rock composition without deleterious elements (see news release March 1, 2023).
    • 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 key terrain of the Red Line geologic trend providing for additional discovery potential.
    • The Golddigger Property is located on tidewater with a barge route to Prince Rupert (190 km south) and close to infrastructure including the town of Kitsault adjacent to a permitted mine site on private property.

    Table 2: Gold-only assay results from remaining 70 drill holes from 2025.

    Hole ID   From (m) To (m) Interval (m) Au (g/t)
    GD-25-319 Interval 484.00 487.00 3.00 1.90
    Interval 485.00 486.00 1.00 5.65
    Interval 510.00 527.00 17.00 1.07
    Including 510.00 523.00 13.00 1.31
    Including 516.05 523.00 6.95 1.97
    Including 516.05 522.10 6.05 2.23
    Interval 564.10 570.20 6.10 19.13
    Including 565.10 570.20 5.10 22.86
    Including 565.10 569.10 4.00 29.09
    GD-25-405 Interval 84.00 87.25 3.25 2.47
    Interval 165.70 174.00 8.30 10.58
    including 166.75 173.00 6.25 14.04
    including 166.75 172.35 5.60 15.50
    including 166.75 170.50 3.75 21.09
    GD-25-312 Interval 390.30 394.00 3.70 10.56
    GD-25-345 Interval 3.09 6.87 3.78 3.83
    Interval 354.36 358.15 3.79 3.92
    Interval 615.00 621.00 6.00 4.47
    including 616.00 620.00 4.00 6.68
    including 616.00 619.36 3.36 7.93
    GD-25-330 Interval 533.00 536.55 3.55 7.48
    Interval 534.14 535.48 1.34 19.51
    GD-25-326 Interval 299.00 302.00 3.00 8.57
    GD-25-401 Interval 38.07 46.96 8.89 2.96
    including 39.00 44.00 5.00 4.89
    Interval 57.00 61.11 4.11 3.00
    including 57.00 60.00 3.00 3.41
    Interval 431.75 434.85 3.10 2.40
    GD-25-349 Interval 85.00 89.00 4.00 5.50
    Including 86.00 89.00 3.00 7.34
    Interval 95.38 99.00 3.62 1.11
    GD-25-367 Interval 388.00 393.00 5.00 2.69
    Interval 523.00 526.00 3.00 7.10
    GD-25-407 Interval 253.83 257.09 3.26 5.85
    GD-25-395 Interval 302.00 319.00 17.00 1.11
    Including 306.00 318.00 12.00 1.51
    Including 309.49 316.15 6.66 2.16
    Including 311.90 316.15 4.25 3.03
    GD-25-332 Interval 416.00 422.00 6.00 3.02
    including 417.00 421.00 4.00 4.49
    including 417.00 420.00 3.00 5.90
    GD-25-389 Interval 125.00 135.00 10.00 1.16
    including 125.90 129.00 3.10 2.43
    Interval 155.00 163.00 8.00 1.83
    including 159.00 162.00 3.00 4.62
    GD-25-393 Interval 385.00 390.00 5.00 3.78
    Including 386.80 390.00 3.20 5.89
    GD-25-382 Interval 4.73 16.00 11.27 1.44
    Including 7.00 16.00 9.00 1.72
    Including 10.00 16.00 6.00 2.41
    Including 10.00 14.00 4.00 3.13
    Interval 65.00 71.00 6.00 1.05
    Including 66.00 70.00 4.00 1.56
    Interval 99.11 103.00 3.89 1.48
    GD-25-396 Interval 127.15 130.97 3.82 4.01
    including 244.00 247.19 3.19 2.47
    GD-25-305 Interval 259.03 263.00 3.97 2.51
    Interval 547.53 553.00 5.47 1.25
    Including 547.53 550.85 3.32 1.69
    Interval 585.00 596.00 11.00 1.30
    Including 588.00 595.02 7.02 1.93
    Including 588.00 592.97 4.97 2.59
    Including 589.11 592.97 3.86 3.27
    GD-25-323 Interval 309.54 314.00 4.46 1.38
    Including 310.17 314.00 3.83 1.59
    Interval 588.80 592.50 3.70 3.71
    GD-25-334 Interval 397.00 408.00 11.00 1.24
    including 404.00 407.00 3.00 3.91
    GD-25-366 Interval 62.05 66.00 3.95 3.34
    Interval 483.00 486.00 3.00 3.87
    GD-25-381 Interval 265.00 269.00 4.00 3.32
    including 265.00 268.00 3.00 4.33
    GD-25-390 Interval 187.75 193.00 5.25 2.38
    including 188.80 192.00 3.20 3.87
    GD-25-335 Interval 236.00 240.00 4.00 2.79
    including 236.00 239.00 3.00 3.71
    Interval 258.00 270.00 12.00 1.06
    including 262.05 270.00 7.95 1.32
    GD-25-327 Interval 25.00 26.00 1.00 2.11
    Interval 107.00 111.00 4.00 2.99
    Including 108.00 111.00 3.00 3.98
    Interval 275.00 282.00 7.00 1.52
    Including 276.00 282.00 6.00 1.77
    Including 276.00 281.00 5.00 2.09
    Including 277.00 280.00 3.00 3.12
    GD-25-368 Interval 592.00 597.88 5.88 2.03
    Including 592.00 596.69 4.69 2.54
    GD-25-342 Interval 28.85 38.00 9.15 1.04
    Including 31.00 38.00 7.00 1.25
    Including 34.00 38.00 4.00 1.30
    Including 35.00 38.00 3.00 1.66
    Interval 249.10 252.10 3.00 2.05
    Interval 250.25 251.25 1.00 6.11
    GD-25-316 Interval 204.00 208.00 4.00 1.08
    Interval 356.96 363.65 6.69 1.70
    Including 357.82 362.50 4.68 2.39
    Interval 365.85 369.00 3.15 1.24
    GD-25-337 Interval 138.50 148.50 10.00 1.09
    Interval 52.00 55.00 3.00 2.29
    GD-25-375 including 216.21 220.00 3.79 2.39
    GD-25-363 Interval 313.46 320.00 6.54 1.63
    Including 314.09 319.00 4.91 2.15
    Including 314.09 318.00 3.91 2.63
    GD-25-329 Interval 215.91 224.02 8.11 1.01
    Including 215.91 221.00 5.09 1.45
    Including 215.91 219.00 3.09 1.91
    Interval 317.00 322.12 5.12 1.95
    Including 317.00 321.00 4.00 2.49
    Including 318.00 321.00 3.00 3.29
    GD-25-357 Interval 215.00 223.00 8.00 1.05
    Including 217.00 223.00 6.00 1.26
    Interval 347.00 350.00 3.00 2.26
    Interval 348.00 349.00 1.00 6.72
    GD-25-308 Interval 335.00 338.00 3.00 1.09
    Interval 405.00 408.00 3.00 1.55
    GD-25-301 Interval 301.00 305.00 4.00 2.26
    Including 302.00 305.00 3.00 3.00
    Interval 415.00 419.00 4.00 2.47
    Interval 535.24 542.13 6.89 1.16
    Including 535.24 541.05 5.81 1.33
    Including 537.39 541.05 3.66 1.66
    GD-25-394 Interval 118.00 121.85 3.85 1.02
    GD-25-403 Interval 254.02 258.00 3.98 2.35
    Interval 255.00 256.05 1.05 8.70
    GD-25-303 Interval 488.00 493.00 5.00 1.09
    Including 488.00 491.00 3.00 1.31
    Interval 526.00 529.00 3.00 1.09
    Interval 532.00 536.04 4.04 1.21
    Including 532.00 535.00 3.00 1.25
    GD-25-386 Interval 293.34 297.60 4.26 1.26
    Including 294.38 297.60 3.22 1.66
    Interval 300.85 301.95 1.10 2.60
    Including 324.79 329.00 4.21 1.97
    Including 324.79 328.02 3.23 2.49
    GD-25-352 Interval 338.00 343.00 5.00 1.74
    Interval 374.00 377.02 3.02 1.98
    Interval 375.00 376.00 1.00 5.92
    GD-25-351 Interval 418.00 423.00 5.00 1.44
    Including 420.00 423.00 3.00 2.05
    Interval 511.00 514.00 3.00 1.79
    Interval 512.00 513.00 1.00 5.22
    GD-25-344 Interval 215.82 220.94 5.12 1.59
    Including 216.80 220.94 4.14 1.96
    Including 217.62 220.94 3.32 2.38
    GD-25-399 Interval 58.50 61.50 3.00 2.71
    Interval 59.00 60.50 1.50 5.34
    GD-25-333 Interval 6.00 9.00 3.00 2.53
    Interval 7.00 8.00 1.00 7.54
    GD-25-306 Interval 135.00 141.00 6.00 1.25
    Including 135.00 139.00 4.00 1.62
    Interval 281.70 282.35 0.65 1.47
    GD-25-325 Interval 40.10 41.00 0.90 1.67
    Interval 454.40 458.85 4.45 1.11
    Including 456.70 460.00 3.30 1.34
    Interval 576.00 579.00 3.00 2.44
    Interval 577.20 578.00 0.80 8.95
    GD-25-371 Interval 545.10 549.00 3.90 0.68
    GD-25-406 Interval 122.00 125.00 3.00 1.70
    Interval 137.00 143.00 6.00 1.20
    Including 139.00 142.00 3.00 2.20
    GD-25-400 Interval 10.00 16.00 6.00 1.18
    Interval 125.00 131.00 6.00 1.02
    GD-25-331 Interval 146.00 151.00 5.00 1.00
    Including 148.00 151.00 3.00 1.26
    GD-25-361 Interval 303.80 310.08 6.28 1.06
    Including 307.00 310.08 3.08 1.49
    Interval 315.00 318.00 3.00 1.08
    Interval 540.00 544.05 4.05 1.28
    Interval 542.00 542.85 0.85 5.72
    GD-25-391 Interval 467.00 481.00 14.00 0.45
    GD-25-314 Interval 138.00 141.00 3.00 2.12
    GD-25-322 Interval 28.00 29.00 1.00 1.39
    Interval 166.00 169.00 3.00 1.08
    GD-25-309 Interval 296.03 299.07 3.04 1.72
    Interval 296.92 298.00 1.08 4.80
    GD-25-341 Interval 205.86 210.00 4.14 1.20
    Including 205.86 209.00 3.14 1.51
    Interval 205.86 206.82 0.96 4.75
    Interval 394.00 399.00 5.00 1.04
    Including 395.00 398.03 3.03 1.68
    GD-25-348 Interval 217.43 222.05 4.62 1.09
    Including 217.43 221.12 3.69 1.34
    Interval 916.50 919.80 3.30 1.12
    Interval 917.52 918.73 1.21 2.98
    GD-25-379 Interval 288.00 291.74 3.74 1.15
    Interval 494.00 497.88 3.88 1.02
    Interval 496.00 497.00 1.00 3.71
    Interval 531.20 532.30 1.10 2.26
    GD-25-346 Interval 220.88 225.00 4.12 1.03
    Including 221.84 225.00 3.16 1.33
    GD-25-315 Interval 224.00 227.00 3.00 1.22
    Interval 225.00 226.00 1.00 3.52
    GD-25-364 Interval 253.80 256.65 2.85 1.26
    Interval 254.80 255.65 0.85 4.05
    GD-25-339 Interval 635.75 639.00 3.25 1.09
    Interval 636.48 637.32 0.84 3.95
    GD-25-388 Interval 101.00 102.15 1.15 2.14
    GD-25-397 Interval 184.00 188.00 4.00 0.86
    GD-25-336 Interval 224.00 225.00 1.00 1.20
    Interval 229.00 232.00 3.00 1.09
    Interval 230.00 231.00 1.00 3.11
    GD-25-384 Interval 422.00 423.00 1.00 1.79
    Interval 547.00 548.00 1.00 1.20
    GD-25-402 Interval 196.00 197.25 1.25 2.44
    GD-25-338 Interval 426.00 429.00 3.00 0.80
    GD-25-369 Interval 667.00 671.00 4.00 0.70
    GD-25-409 Interval 124.00 127.00 3.00 0.79
    GD-25-307 Interval 304.78 305.66 0.88 2.64
    Interval 410.36 411.51 1.15 1.94
    Interval 410.36 411.51 1.15 1.94
    GD-25-392 Interval 93.57 94.80 1.23 1.09
    GD-25-404 Interval 183.00 186.00 3.00 0.44
    GD-25-340 Interval 367.45 370.47 3.02 0.36
    GD-25-347 Interval 334.00 335.00 1.00 1.70
    GD-25-353 Interval 292.96 294.00 1.04 1.07
    GD-25-320 Interval 216.00 219.00 3.00 0.48
    GD-25-408 Interval 111.00 115.08 4.08 0.25
    GD-25-310 Interval 150.00 151.00 1.00 1.08
    GD-25-304 Interval 255.00 256.00 1.00 0.69

    Table 4: Collar information for drill holes reported in this news release.

    Hole ID CRS Easting (m) Northing (m) Elevation (m) Azimuth (deg) Dip (deg) Length (m)
    GD-25-301 NAD83 / UTM zone 9N 457445 6162773 1513 168 58 702
    GD-25-303 NAD83 / UTM zone 9N 457364 6162754 1508 157 61 676
    GD-25-304 NAD83 / UTM zone 9N 457214 6162332 1220 320 55 308
    GD-25-305 NAD83 / UTM zone 9N 457447 6162774 1513 155 54 687
    GD-25-306 NAD83 / UTM zone 9N 457214 6162332 1220 342 59 346
    GD-25-307 NAD83 / UTM zone 9N 456927 6163020 1651 152 72 678
    GD-25-308 NAD83 / UTM zone 9N 457364 6162756 1509 160 67 705
    GD-25-309 NAD83 / UTM zone 9N 456710 6162964 1638 295 89 612
    GD-25-310 NAD83 / UTM zone 9N 457214 6162332 1219 28 62 509
    GD-25-312 NAD83 / UTM zone 9N 457365 6162756 1509 150 71 681
    GD-25-314 NAD83 / UTM zone 9N 457018 6162591 1387 80 70 593
    GD-25-315 NAD83 / UTM zone 9N 457218 6162331 1219 63 63 486
    GD-25-316 NAD83 / UTM zone 9N 456927 6163020 1651 150 76 723
    GD-25-319 NAD83 / UTM zone 9N 457365 6162754 1505 141 62 629
    GD-25-320 NAD83 / UTM zone 9N 457215 6162328 1219 170 70 367
    GD-25-322 NAD83 / UTM zone 9N 457214 6162332 1219 250 70 594
    GD-25-323 NAD83 / UTM zone 9N 456927 6163020 1652 90 80 620
    GD-25-325 NAD83 / UTM zone 9N 457365 6162755 1509 128 88 669
    GD-25-326 NAD83 / UTM zone 9N 457236 6162867 1586 23 80 734
    GD-25-327 NAD83 / UTM zone 9N 457016 6162593 1388 5 65 459
    GD-25-329 NAD83 / UTM zone 9N 457444 6162778 1515 330 80 685
    GD-25-330 NAD83 / UTM zone 9N 457326 6162856 1582 206 73 681
    GD-25-331 NAD83 / UTM zone 9N 457815 6162506 1144 194 83 360
    GD-25-332 NAD83 / UTM zone 9N 456927 6163020 1653 10 75 708
    GD-25-333 NAD83 / UTM zone 9N 457365 6162757 1509 127 71 798
    GD-25-334 NAD83 / UTM zone 9N 457236 6162741 1490 128 66 696
    GD-25-335 NAD83 / UTM zone 9N 457015 6162587 1387 180 60 498
    GD-25-336 NAD83 / UTM zone 9N 456710 6162961 1639 315 75 606
    GD-25-337 NAD83 / UTM zone 9N 457813 6162507 1145 244 62 370
    GD-25-338 NAD83 / UTM zone 9N 457445 6162774 1514 173 69 621
    GD-25-339 NAD83 / UTM zone 9N 457236 6162865 1586 120 70 792
    GD-25-340 NAD83 / UTM zone 9N 456861 6162631 1451 300 55 405
    GD-25-341 NAD83 / UTM zone 9N 456927 6163020 1652 310 75 615
    GD-25-342 NAD83 / UTM zone 9N 457815 6162511 1146 336 70 350
    GD-25-344 NAD83 / UTM zone 9N 457319 6162857 1585 265 77 705
    GD-25-345 NAD83 / UTM zone 9N 457366 6162757 1509 120 52 822
    GD-25-346 NAD83 / UTM zone 9N 456863 6162632 1452 340 45 471
    GD-25-347 NAD83 / UTM zone 9N 456710 6162961 1639 270 65 442
    GD-25-348 NAD83 / UTM zone 9N 457413 6163252 1733 115 65 1001
    GD-25-349 NAD83 / UTM zone 9N 457817 6162512 1145 50 65 756
    GD-25-351 NAD83 / UTM zone 9N 457235 6162738 1489 170 57 723
    GD-25-352 NAD83 / UTM zone 9N 457038 6162952 1604 42 76 847
    GD-25-353 NAD83 / UTM zone 9N 456864 6162633 1453 7 56 501
    GD-25-357 NAD83 / UTM zone 9N 456865 6162628 1451 135 65 525
    GD-25-361 NAD83 / UTM zone 9N 457191 6163128 1712 160 85 699
    GD-25-363 NAD83 / UTM zone 9N 457411 6163251 1733 175 68 901
    GD-25-364 NAD83 / UTM zone 9N 457464 6163017 1633 230 80 795
    GD-25-366 NAD83 / UTM zone 9N 457399 6162901 1606 211 69 705
    GD-25-367 NAD83 / UTM zone 9N 457235 6162864 1585 213 74 651
    GD-25-368 NAD83 / UTM zone 9N 457485 6163165 1706 250 77 690
    GD-25-369 NAD83 / UTM zone 9N 457319 6162859 1585 310 85 738
    GD-25-371 NAD83 / UTM zone 9N 457190 6163130 1712 40 86 681
    GD-25-375 NAD83 / UTM zone 9N 457486 6163164 1706 250 85 747
    GD-25-379 NAD83 / UTM zone 9N 457189 6163129 1712 268 85 614
    GD-25-381 NAD83 / UTM zone 9N 457511 6163074 1660 115 66 360
    GD-25-382 NAD83 / UTM zone 9N 457591 6162372 1119 215 45 160
    GD-25-384 NAD83 / UTM zone 9N 457233 6162865 1585 255 78 674
    GD-25-386 NAD83 / UTM zone 9N 457512 6163073 1660 129 56 459
    GD-25-388 NAD83 / UTM zone 9N 457879 6162621 1179 270 65 498
    GD-25-389 NAD83 / UTM zone 9N 457849 6162680 1209 170 70 483
    GD-25-390 NAD83 / UTM zone 9N 457488 6163166 1707 70 80 792
    GD-25-391 NAD83 / UTM zone 9N 457465 6163019 1634 286 76 618
    GD-25-392 NAD83 / UTM zone 9N 457757 6162595 1200 280 55 423
    GD-25-393 NAD83 / UTM zone 9N 457322 6162859 1585 5 68 702
    GD-25-394 NAD83 / UTM zone 9N 457594 6162372 1119 168 55 345
    GD-25-395 NAD83 / UTM zone 9N 457402 6162902 1606 105 65 801
    GD-25-396 NAD83 / UTM zone 9N 457758 6162596 1201 284 75 274
    GD-25-397 NAD83 / UTM zone 9N 457850 6162683 1211 20 75 412
    GD-25-399 NAD83 / UTM zone 9N 457760 6162596 1201 356 64 288
    GD-25-400 NAD83 / UTM zone 9N 457598 6162374 1119 147 83 309
    GD-25-401 NAD83 / UTM zone 9N 457881 6162620 1179 210 80 600
    GD-25-402 NAD83 / UTM zone 9N 457972 6162658 1175 292 48 249
    GD-25-403 NAD83 / UTM zone 9N 457467 6163017 1633 147 83 600
    GD-25-404 NAD83 / UTM zone 9N 457848 6162684 1211 325 55 348
    GD-25-405 NAD83 / UTM zone 9N 457763 6162595 1200 82 75 312
    GD-25-406 NAD83 / UTM zone 9N 457973 6162657 1174 281 71 246
    GD-25-407 NAD83 / UTM zone 9N 457399 6162904 1608 350 82 395
    GD-25-408 NAD83 / UTM zone 9N 457972 6162655 1177 230 60 219
    GD-25-409 NAD83 / UTM zone 9N 457883 6162622 1178 60 75 302

    About Golddigger Property

    The Golddigger Property is 100% controlled 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, in close proximity to the Red Line, 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 predictable continuity and good metallurgy with gold recoveries from gravity and flotation at a 327-micrometer crush of 92.2% including 48.8% free gold from gravity alone (no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements are present (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 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 of British Columbia and houses an international container seaport also with direct access to railway and an airport.

    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.

    Independent Trading Group Engaged As Market Maker

    Goliath has engaged the services of Independent Trading Group (“ITG”) to provide market-making services in accordance with TSX Venture Exchange TSXV, CSE, Cboe Canada policies subject to regulatory approval. ITG will trade shares of the Company on the TSXV and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares.

    Under the agreement, ITG will receive compensation of CAD$6,000 per month, payable monthly in advance. The agreement is for an initial term of one month and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days' notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.

    About Independent Trading Group

    Independent Trading Group (ITG) Inc. is a Toronto based CIRO dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

    RSU Grant

    The Company has granted an aggregate of 3,165,000 restricted share units to officers and directors of the Company, which will vest equally over three years, with first vesting occurring after one year. Also, a total of 75,000 restricted share units granted to a consultant which will vest in one year. All restricted share units are subject to the Company's omnibus equity incentive plan.

    Qualified Person

    Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath Resource 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 Goliath Resources Limited

    Goliath Resources is an explorer of precious metals projects in the highly prospective Golden Triangle of Northwest-ern 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. Assay results are still pending for 110 holes from the 2025 exploration campaign for the gold equivalent (AuEq) values, that will be announced once received, compiled and interpreted. 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: +1.416.488.2887roger@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.

    QA/QC Protocol

    Oriented HQ-diameter or NQ-diameter diamond drill core from the drill campaign 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. Drill holes were planned using Leapfrog GeoTM and QGISTM software and data from the 2017-2024 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration is sampled in lengths of 0.5 to 1.5 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 VG-NE or high-grade sulphide mineralization.

    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 a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held 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%.

    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 three 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 at the MSALABS facilities in Surrey, BC, where 250 g of pulverized splits are analyzed via ICF6xx and IMS-230 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.

    Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and Gold Equivalent (AuEq) metal values are calculated using: Au 2797.16 USD/oz, Ag 31.28 USD/oz, Cu 4.25 USD/lbs, Pb 1955.58 USD/ton and Zn 2750.50 USD/ton on January 31st, 2025. There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences 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 the 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.

    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 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.

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