Gold Archives - Page 3 of 42

Harmony Gold (HMY) ended the recent trading session at $14.03, demonstrating a -1.34% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.4%. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.24%.

The stock of gold miner has risen by 2.23% in the past month, lagging the Basic Materials sector's gain of 3.4% and the S&P 500's gain of 4.61%.

The upcoming earnings release of Harmony Gold will be of great interest to investors.

For the full year, the Zacks Consensus Estimates are projecting earnings of $2.85 per share and revenue of $0 million, which would represent changes of +190.82% and 0%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Harmony Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Harmony Gold is carrying a Zacks Rank of #1 (Strong Buy).

Digging into valuation, Harmony Gold currently has a Forward P/E ratio of 4.99. Its industry sports an average Forward P/E of 11.66, so one might conclude that Harmony Gold is trading at a discount comparatively.

We can also see that HMY currently has a PEG ratio of 0.09. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Mining – Gold industry currently had an average PEG ratio of 0.55 as of yesterday's close.

The Mining – Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 31, placing it within the top 13% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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Harmony Gold Mining Company Limited (HMY) : 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 a significant driver for most investors. Not only can price performance impact your portfolio, but it can help you compare investment results across sectors and industries as well.

Another factor that can influence investors is FOMO, or the fear of missing out, especially with 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 1.47 million ounces in fiscal 2023.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 $2,774 million for fiscal 2023 (ended Jun 30, 2023).

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 July 2015 would be worth $14,314.29, or a gain of 1,331.43%, as of July 23, 2025, according to our calculations. This return excludes dividends but includes price appreciation.

Compare this to the S&P 500's rally of 198.45% and gold's return of 202.98% over the same time frame.

Analysts are forecasting more upside for HMY too.

Harmony Gold is advancing several key development projects, including the Wafi-Golpu copper-gold deposit in Papua New Guinea and the Eva Copper project in Australia, which are expected to enhance production and expand its international footprint significantly. The Golpu project is believed to be a game-changer for the company. The acquisition of Eva Copper aligns with the company's goal of transitioning into a low-cost gold and copper producer. Rallying gold prices are also expected to drive the company's performance. The rally has been driven by strong demand from central banks, a dovish Fed interest rate outlook, global uncertainties and a surge in safe-haven demand thanks to heightened geopolitical tensions. Harmony is also making progress in reducing its debt levels and improving cash flow.

Shares have gained 6.67% over the past four weeks and there have been 1 higher earnings estimate revisions for fiscal 2025 compared to none lower. The consensus estimate has moved up as well.

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

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

Zacks Investment Research

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Harmony Gold (HMY) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.

Harmony Gold is one of 238 individual stocks in the Basic Materials sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Harmony Gold is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for HMY's full-year earnings has moved 43.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, HMY has gained about 83.1% so far this year. Meanwhile, the Basic Materials sector has returned an average of 15.8% on a year-to-date basis. This means that Harmony Gold is performing better than its sector in terms of year-to-date returns.

Another stock in the Basic Materials sector, Novozymes A/S (NVZMY), has outperformed the sector so far this year. The stock's year-to-date return is 22.7%.

The consensus estimate for Novozymes A/S' current year EPS has increased 9.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, Harmony Gold belongs to the Mining – Gold industry, a group that includes 39 individual companies and currently sits at #12 in the Zacks Industry Rank. On average, stocks in this group have gained 58.7% this year, meaning that HMY is performing better in terms of year-to-date returns.

On the other hand, Novozymes A/S belongs to the Chemical – Specialty industry. This 37-stock industry is currently ranked #89. The industry has moved +5.5% year to date.

Investors interested in the Basic Materials sector may want to keep a close eye on Harmony Gold and Novozymes A/S as they attempt to continue their solid performance.

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

Novozymes A/S (NVZMY) : Free Stock Analysis Report

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

Zacks Investment Research

Harmony Gold (HMY) closed at $14.83 in the latest trading session, marking a -1.33% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.78%. Elsewhere, the Dow saw an upswing of 1.14%, while the tech-heavy Nasdaq appreciated by 0.61%.

Shares of the gold miner have appreciated by 6.67% over the course of the past month, outperforming the Basic Materials sector's gain of 6.63%, and the S&P 500's gain of 5.88%.

The investment community will be closely monitoring the performance of Harmony Gold in its forthcoming earnings report.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.85 per share and a revenue of $0 million, indicating changes of +190.82% and 0%, respectively, from the former year.

It is also important to note the recent changes to analyst estimates for Harmony Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.71% upward. Harmony Gold presently features a Zacks Rank of #1 (Strong Buy).

Valuation is also important, so investors should note that Harmony Gold has a Forward P/E ratio of 5.27 right now. For comparison, its industry has an average Forward P/E of 12.14, which means Harmony Gold is trading at a discount to the group.

It is also worth noting that HMY currently has a PEG ratio of 0.09. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Mining – Gold industry had an average PEG ratio of 0.57.

The Mining – Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 12, finds itself in the top 5% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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

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

Zacks Investment Research

Harmony Gold Mining Co. Ltd. HMY is positioning itself for long-term growth through disciplined execution of two transformative development projects — the Wafi-Golpu copper-gold project in Papua New Guinea (PNG) and the Eva Copper project in Australia.The Wafi-Golpu project is believed to be a game-changer for the company, with an estimated gold reserve of 13 million ounces. This Tier 1 asset, which is core to HMY’s long-term strategy, is among the world’s largest copper-gold block cave projects. HMY is currently in negotiations with its joint venture partner, Newmont Corporation NEM, and the PNG Government regarding the terms of a Mining Development Contract, which is required for a Special Mining Lease. The permitting of the project is on track.The low-risk Eva Copper project in Australia offers additional upside, giving HMY a significant global copper-gold footprint. HMY acquired Eva Copper in 2022, adding a tier-one mining jurisdiction to its portfolio. The acquisition is in line with HMY’s objective of transitioning into a low-cost gold and copper mining company. The feasibility study update for the project is currently underway. Eva Copper is expected to produce 55,000-60,000 tons of copper per annum.These copper-gold assets are central to HMY’s strategy of diversification beyond South African gold operations. Harmony’s paired focus on Wafi-Golpu and Eva Copper, if executed on schedule, uniquely positions it to deliver transformative growth. Among its peers, AngloGold Ashanti plc AU is executing a clear strategy of organic and inorganic growth. Obuasi remains a significant pillar of AngloGold Ashanti’s long-term strategy. AngloGold Ashanti’s focus this year is to continue the implementation of the underhand drift and fill mining method and make stoping improvements. At Siguiri, efforts are underway to improve mining volumes through ongoing improvements to fleet availability and utilization. Gold Fields Limited GFI is advancing its high-grade Windfall project in Quebec, targeting 300,000 ounces of gold annually. Gold Fields acquired 100% ownership of the Windfall project through the completion of its acquisition of Osisko Mining in October 2024. Gold Fields is focused on obtaining the required environmental approvals for full-scale construction and mining.

HMY’s Price Performance, Valuation & Estimates

Shares of Harmony Gold have rallied 64.9% over a year against the Zacks Mining – Gold industry’s rise of 33.4%, thanks to a surge in gold prices.

Zacks Investment Research

Image Source: Zacks Investment Research

From a valuation standpoint, HMY is currently trading at a forward 12-month earnings multiple of 5.26, a roughly 56.3% discount to the industry average of 12.04X. It carries a Value Score of B.

Zacks Investment Research

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for HMY’s fiscal 2025 earnings implies a year-over-year rise of 190.8%. The EPS estimates for fiscal 2025 have been trending higher over the past 60 days.

Zacks Investment Research

Image Source: Zacks Investment Research

HMY stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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Newmont Corporation (NEM) : Free Stock Analysis Report

AngloGold Ashanti PLC (AU) : Free Stock Analysis Report

Gold Fields Limited (GFI) : Free Stock Analysis Report

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

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

Zacks Investment Research

We recently published 10 Resilient Stocks Defying Market Sentiment. Harmony Gold Mining Company Limited (NYSE:HMY) is one of Monday’s biggest gainers.

Harmony Gold snapped a four-day losing streak on Monday, adding 7.53 percent to close at $14.99 apiece as investors took heart from an investment firm’s positive initial coverage and higher price target.

In a market note late last week, BMO Capital gave Harmony Gold Mining Company Limited’s (NYSE:HMY) a “market perform” rating and a price target of $16 apiece, or a 6.7-percent upside from its latest closing price.

According to BMO Capital, its coverage reflected the company’s leadership position in the gold mining industry, adding that it was one of the best performers in the sector.

Harmony Gold (HMY) Gets Price Target Upgrade, Jumps 7.5%

An open pit mine with heavy excavation machinery toiling away against the backdrop of a hidden valley.

Additionally, the coverage factored in Harmony Gold Mining Company Limited’s (NYSE:HMY) steady operational results and favorable gold prices.

The investment firm said it would continue to monitor the gold miner’s stock and performance for more visibility on its fiscal 2026 outlook and future capital allocation strategy before assigning a more positive stance on its stock.

While we acknowledge the potential of HMY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

Investors interested in Mining – Gold stocks are likely familiar with Harmony Gold (HMY) and Franco-Nevada (FNV). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Both Harmony Gold and Franco-Nevada have a Zacks Rank of # 2 (Buy) right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that these stocks have improving earnings outlooks. But this is just one piece of the puzzle for value investors.

Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.

HMY currently has a forward P/E ratio of 14.73, while FNV has a forward P/E of 42.55. We also note that HMY has a PEG ratio of 0.31. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. FNV currently has a PEG ratio of 4.41.

Another notable valuation metric for HMY is its P/B ratio of 3.93. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, FNV has a P/B of 5.52.

These metrics, and several others, help HMY earn a Value grade of B, while FNV has been given a Value grade of F.

Both HMY and FNV are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that HMY is the superior value option right now.

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

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

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

Zacks Investment Research

Goliath Resources Limited

Highlights Of The Geological Study Completed By The Colorado School Of Mines:

A detailed geological study was recently completed by the Colorado School of Mines utilizing a compilation of drill holes and geological data. Conclusions of the geological study confirms a new interpretation of the ore forming process of high-grade gold mineralization at Surebet and confirms common causative Reduced Intrusion Related Gold (RIRG) source with tremendous untapped discovery potential.
High-grade gold mineralization at Surebet occurs in two different settings, both containing visible gold in remarkably high percentages of the drill hole intersections. Of particular note is that the visible gold is fine to coarse grained, and includes up to abundant visible gold, with an increase of coarseness and abundance in vertical distribution. Which is consistent with the assessment that the system is getting richer as it is drilled deeper, and both styles of high-grade gold mineralization are open in all directions:
- Shear hosted veins up to 39 meters wide where gold occurs as native or alloys with bismuth and tellurium within quartz-sulphide veins hosted in sedimentary and volcanic rock units.
- Multiple millimeter to centimeter wide quartz veinlets where gold occurs with bismuth, tellurium, and molybdenite within felsic to intermediate dykes.

12 vertically stacked gold mineralized shear-hosted veins within the sedimentary and volcanic rock units have been confirmed through drilling and modelling at Surebet with grades up to 34.52 g/t AuEq (34.47 Au and 3.96 Ag) over 39.00 meters. These stacked layers are up to 39 meters wide within a 1.8 km2 area that remains open showing the excellent additional blue-sky potential.
Multiple high-grade gold intervals from reduced intrusion related porphyritic felsic to intermediate feeder dykes assayed up to 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters. The gold mineralized feeder dykes are up to 25 meters wide and exposed along strike at surface for up to 1,500 meters and remain open, strongly indicating close proximity to a gold-rich Motherlode RIRG source (previously announced March 13, 2025).
Dating of volcanic-hosted gold mineralization related to the shear hosted veins resulted in an age of 50.7 ± 1.0 Ma. This result overlaps with the U-Pb zircon age of 52.0 ± 1.5 Ma obtained for the mineralized felsic to intermediate dykes. The overlap in mineralization age for both shear-hosted gold-rich veins and gold-bearing dykes suggests a common causative intrusion as the source of mineralization.
Eocene age (56 to 34 Ma) mineralization has been neglected in the southern part of the Golden Triangle, where most of the known deposits are thought to be Jurassic age (201 to 145 Ma). The discovery of abundant Eocene age mineralization at Surebet shows the tremendous untapped discovery potential that is left on the Golddigger property.
Recent research by the Colorado School of Mines has indicated the presence of two stages of gold mineralization in the gold-rich veins at Surebet within the shear hosted veins and the felsic to intermediate dykes:
- The first stage of gold mineralization resulted in the deposition of native bismuth, bismuth tellurides, and the gold-bismuth mineral maldonite and is associated with calc-silicate alteration including actinolite. This early mineralization occurs primarily in quartz veins crosscutting gold-bearing dykes and the volcanic rocks.
- The later assemblage of gold mineralization crosscuts the early stage and is associated with chlorite alteration. This late stage of gold makes up most gold observed in the shear-hosted veins.

The paragenetic relationships of minerals are consistent with alteration occurring from a cooling hydrothermal system in both the shear and dyke hosted veins. This provides further evidence that the dykes and shear-hosted gold veins at Surebet may be related to a causative intrusion at depth that may have acted as the heat source for the hydrothermal system and likely contributed significant free gold.
At Surebet, multiple gold-bismuth-tellurium grains have textural characteristics which indicate that they were entrapped as melt droplets within the host quartz. Fluid inclusions associated with these melt droplets provide evidence for the contemporaneous occurrence of phase separation of the CO2-rich magmatic-hydrothermal fluids, a process not previously described in the scientific literature.

Microphotographs of gold assemblages and associated alteration found at Surebet. a. Transmitted light image of the gold bearing actinolite veinlet with clinozoisite halo associated with early gold mineralization. b. Reflected light image of actinolite veinlet from frame a. showing the association between the gold-bismuth-tellurium grains, actinolite, and clinozoisite. c. Reflected light image of early-stage gold-bismuth-tellurium grains which were entrapped as a melt and healed along a microfracture in quartz. d. Reflected light image of late gold and associated chlorite cutting pyroxene.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/319220d6-7595-41c1-a20e-7fa434b92050

Confirmation of high gold grades over broad intervals in the recently discovered RIRG system characterized by considerable amounts of visible gold, bismuth, bismuth tellurides and molybdenum mineralization in the felsic to intermediate porphyritic dykes on Surebet materially increases the size potential of the various gold zones at the Surebet discovery.
During only 15 months of boots on the ground, strong gold mineralization has been confirmed in 100% of 243 widespread drill holes containing >300 intercepts to date within a 1.8 km2 area. The multiple stacked gold veins and widespread gold-rich reduced intrusion feeder dykes, confirms the continuity of the widths and grades at Surebet demonstrating this world-class gold-rich system has tremendous additional untapped expansion potential remaining.

TORONTO, April 24, 2025 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report the results of the geological study completed by the Colorado School of Mines which confirms new ore forming process of high-grade gold mineralization and common causative Reduced Intrusion Related Gold (RIRG) source with tremendous untapped discovery potential at Surebet on its 100% controlled Golddigger Property (the “Property”), Golden Triangle, B.C. Two stages of gold mineralization clearly associated with a RIRG system as well as overlap in mineralization and alteration ages for shear hosted veins and dykes, and paragenetic relationships of minerals consistent with alteration occurring from a cooling hydrothermal system, strongly indicate a common RIRG feeder source at Surebet.

Roger Rosmus, Founder and CEO of Goliath Resources, states: “Since our initial discovery at Surebet of an extensive outcropping zone of gold mineralization, followed by drilling below to make a discovery of a series of stacked gently dipping high-grade gold veins, and then a series of vertical dykes through the stacked veins, our understanding of the overall system has been aided by the great work by the team at the Colorado School of Mines. The 2024 drilling season was our best ever, highlighted by visible gold in 92% of the holes drilled, including fine-grained to coarse-grained and abundant visible gold that got better as we drilled deeper into the discovery. Another important milestone in 2024 was our success drilling into a series of near vertical dykes, also with visible gold and high-grade gold assays, that come up through the gently dipping stacked veins. All of our drilling and geological work enabled us to provide a remarkable amount of material and data for the team at the Colorado School of Mines to enhance the modeling, interpretation and thesis of what has caused the high-grade gold mineralization we have drilled into with great success so far. In a general sense, we have determined that we have a series of gently dipping high-grade veins with vertical RIRG zones (also with high-grade gold) through the veins. Which have enriched the veins, and there is a likelihood that they are all coming from a common source. When you consider how widespread the high-grade gold mineralization is in the veins and RIRG zones, the source is potentially extremely large. The more drilling and scientific studies we do at the Surebet discovery, the better it gets, and we are still high in the system that is open in all directions, and we are delighted with the prospect with what can be found as we continue to laterally and drill deeper for the source of the high-grade gold system.”

Gold mineralization at Surebet occurs in two different setting: 1) shear hosted veins up to 39 meters wide where gold occurs as native or alloys with bismuth and tellurium within quartz-sulphide veins hosted in sedimentary and volcanic rock units and 2) multiple millimeter to centimeter wide quartz veinlets where gold occurs with bismuth, tellurium, and molybdenite within felsic to intermediate dykes. Direct dating of volcanic-hosted sulphide mineralization related to the shear hosted veins resulted in an age of 50.7 ± 1.0 Ma. This result overlaps with the U-Pb zircon age of 52.0 ± 1.5 Ma obtained for the mineralized felsic to intermediate dykes. The overlap in mineralization age for both shear-hosted veins and gold-bearing dykes suggests a common causative intrusion as the source of mineralization observed at Surebet. Petrographic and fluid inclusion analysis carried out on samples from the mineralized shear-hosted veins in an earlier phase of the project indicated that the fluid responsible for the gold mineralization at Surebet is of magmatic origin (previously announced February 2, 2023) further corroborating the hypothesis of a common magmatic source for the mineralization. Eocene age (56 to 34 Ma) mineralization has been neglected in the southern part of the Golden Triangle, where most of the known deposits are thought to be Jurassic age (201 to 145 Ma). The discovery of abundant Eocene age mineralization at Surebet shows the tremendous untapped discovery potential that is left on the Golddigger property and surrounding areas. Structures and lithologies younger than Jurassic which have been historically overlooked now provide excellent targets for styles of gold mineralization which may have been overlooked.

New research has indicated the presence of two stages of gold mineralization in the gold-bearing veins at Surebet within the shear-hosted veins and the felsic to intermediate dykes. The first stage of gold mineralization resulted in the deposition of native bismuth, bismuth tellurides, and the gold-bismuth mineral maldonite. This stage of gold mineralization is associated with calc-silicate alteration including actinolite. This early mineralization occurs primarily in quartz veins crosscutting gold-bearing dykes and the volcanic rocks. Gold-bismuth-tellurium grains from this stage are commonly observed as inclusions along healed microfractures in quartz. The later assemblage of gold mineralization crosscuts the early stage and is associated with chlorite alteration. This late stage of gold makes up most gold observed in the shear-hosted veins at Surebet. Samples taken from an interval in hole GD-24-260 that assayed 34.52 g/t AuEq (34.47 Au and 3.96 Ag) over 39.00 meters (previously announced January 13, 2025) are found to have significant quantities of both the early and late gold stages, possibly explaining the high-grade observed. This overlap between dyke-typical and shear-hosted vein-typical mineralization further suggests both styles of gold are expressions of the same system.

The paragenetic relationships of minerals determined through petrographic work are consistent with alteration occurring from a cooling hydrothermal system in both the shear and dyke-hosted veins. This finding provides further evidence that the dykes at Surebet may be related to a causative intrusion at depth that may have acted as the heat source for the hydrothermal system and likely contributed significant metals. Additionally, the gold-bismuth-tellurium grains have textural characteristics which indicate that they were entrapped as melt droplets within the host quartz. Fluid inclusions associated with these melt droplets provide evidence for the contemporaneous occurrence of phase separation of the CO2-rich magmatic-hydrothermal fluids, a process not previously described in the scientific literature. Further research at the Colorado School of Mines will be focused on understanding this new mechanism for ore formation and its role in the formation of high-grade gold mineralization at Surebet.

During only 15 months of boots on the ground, strong gold mineralization has been confirmed with assays in 100% of 243 widespread drill holes containing >300 intercepts to date within a 1.8 km2 area with 20 holes contain intervals over 100 gram*meter Au (> 3 ounces*meter Au). Confirmation of multiple stacked gold veins and widespread gold-rich reduced intrusion feeder dykes, confirms the continuity of the widths and grades at Surebet demonstrating this world-class gold system has tremendous additional untapped expansion potential remaining.

Golddigger Property

The Golddigger Property is 100% controlled and covers an area of 91,518 hectares in the world class 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 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 exceptional continuity and excellent metallurgy with gold recoveries of 92.2% with 48.8% of it as free gold from gravity alone at a 327-micrometer crush (no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements are present such as mercury or arsenic.

The Property is in an excellent location in close proximity to the communities of Alice Arm and Kitsault where there is a permitted mill site on private property. It is situated on tide water with direct barge access to Prince Rupert (190 kilometers via the Observatory inlet/Portland inlet). The town of Kitsault is accessible by road (190 kilometers from Terrace, 300 kilometers from Prince Rupert) and has a barge landing, dock, and infrastructure capable of housing at least 300 people, including high-tension power.

Additional infrastructure in the area includes the Dolly Varden Silver Mine Road (only 7 kilometers to the East of the Surebet discovery) with direct road access to Alice Arm barge landing (18 kilometers to the south of the Surebet discovery) and high-tension power (25 kilometers to the east of Surebet discovery). The city of Terrace (population 16,000) provides access to railway, major highways, and airport with supplies (food, fuel, lumber, etc.), while the town of Prince Rupert (population 12,000) is located on the west coast and houses an international container seaport also with direct access to railway and an airport.

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 world-class research to be performed on the Surebet project part of the Golddigger Property in British Columbia, Canada.

Qualified Person

Quinton Hennigh (Ph.D., P.Geo.) is the qualified person pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is a technical advisor to Goliath Resources and has verified the data herein disclosed.

Approval of Shareholder Rights Plan

At Goliath’s annual and special meeting of shareholders held on March 17, 2025 (the “Meeting”), the Company’s shareholders (“Shareholders”) approved all of the resolutions put before the meeting including a resolution adopting a shareholder rights plan (the “Rights Plan”) which was initially adopted by the board of directors (“Board”) on February 7, 2025. In connection with the Rights Plan, the Company also entered into a rights plan agreement with Computershare Investor Services Inc. as rights agent dated February 7, 2025. The Rights Plan was adopted to ensure Shareholders are treated fairly and equally in connection with any unsolicited take-over bid or other acquisition of control of, or a significant interest in, the Company while providing the Board adequate time to consider and evaluate such a take-over bid or other acquisition and, if appropriate, identify, develop and negotiate any value-enhancing alternatives. The Rights Plan is substantially similar to the Company’s prior shareholder rights plan first adopted on December 11, 2020 and announced via press release on January 6, 2021. The Rights Plan has not been adopted in response to any specific take-over bid or other proposal to acquire control the Company, and the Company is not aware of any such pending or contemplated proposals.

Under the terms of the Rights Plan, one right (a “Right”) will be issued and attached to each common share in the capital of the Company (“Common Share”) outstanding as of the Effective Date, and a Right will also attach to each Common Share issued thereafter. The issuance of the Rights will not change the manner in which the Shareholders trade their Common Shares, and the Rights will automatically attach to Common Shares with no further action required by Shareholders.

Subject to its terms, the Rights issued under the Rights Plan become exercisable only if a person (an “Acquiring Person”), together with certain parties related to such Acquiring Person, acquires or announces its intention to acquire beneficial ownership of 20% or more of the outstanding Common Shares without complying with the “Permitted Bid” provisions of the Rights Plan or in circumstances where application of the Rights Plan is not waived in accordance with its terms. Following a transaction that results in a person becoming an Acquiring Person, the Rights entitle the holders thereof (other than the Acquiring Person and certain related parties) to purchase Common Shares for a nominal amount.

The description of the Rights Plan in this news release is qualified in its entirety by the full text of the Rights Plan, a copy of which is available on the Company’s SEDAR+ profile at www.sedarplus.ca. The Company’s management information circular, dated February 7, 2025, prepared in connection with the annual general and special meeting held on March 17, 2025, contains a summary of the Rights Plan.

Option Grant

The Company has granted a total of 300,000 stock options for a five year period to advisors and consultants priced at 1.61 per share which will vest immediately. The grant of the options are subject to the Company's omnibus equity incentive plan.

About Goliath Resources Limited

Goliath Resources is an explorer of precious metals projects in the prolific 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’s key strategic cornerstone shareholders include Crescat Capital, McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), Mr. Rob McEwen, a Global Commodity Group based in Singapore, Mr. Eric Sprott and Mr. 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

Other

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.

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 Deposit™. Drill holes were planned using Leapfrog Geo™ and QGIS™ software and data from the 2017-2022 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration are 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. Standards, blanks and duplicates were added in the sample stream at a rate of 10%.

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 were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence at a rate of 10%.

All samples are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the Paragon Geochemical labs facilities in Surrey, BC or ALS labs facilities in North Vancouver, BC. Paragon Geochemical is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. Samples submitted to Paragon received gold and silver analysis by photon assay whereby the entire sample is crushed to approximately 70% passing 2 mm mesh. The entire crushed sample is riffle split and weighed into multiple (300-500g) jars that are submitted for photon assay. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, causing them to emit secondary gamma rays, which are measured to identify and quantify the metals present. The assays from all jars are combined on a weight-averaged basis. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric, and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.

Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and 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.

We recently published an article titled These 10 Firms Led Lagged Performance on Wednesday. In this article, we are going to take a look at where Harmony Gold Mining Company Limited (NYSE:HMY) stands against the other stocks.

Wall Street’s major indices finished in the green territory anew on Wednesday as worries about tariff policies and the Federal Reserve’s independence tapered off following President Donald Trump’s assurance that he had no intentions of ousting Jerome Powell.

The Nasdaq surged by 2.5 percent, the S&P 500 rose by 1.67 percent, while the Dow Jones increased by 1.07 percent.

Ten companies, on the other hand, led the highest declines, booking modest losses during the trading session.

In this article, we have identified Wednesday’s 10 worst-performing stocks and detailed the reasons behind their lagging performance.

To come up with the list, we considered only the stocks with more than $2 billion in market capitalization and $5 million in trading volume.

Why Harmony Gold Mining Company Ltd. (HMY) Soared Last Week?

An open pit mine with heavy excavation machinery toiling away against the backdrop of a hidden valley.

Harmony Gold Mining Company Limited (NYSE:HMY)

Harmony Gold Mining Company Limited (NYSE:HMY) dropped its share prices for a second day, shedding 5.76 percent to finish at $16.03 apiece as investors continued to sell off positions amid the drop in spot prices of gold.

As of 4:46 PM EDT on Wednesday, gold spot prices were down by 2.73 percent at $3,288.44 per ounce.

In recent news, Harmony Gold Mining Company Limited (NYSE:HMY) earned a higher price target of ZAR 295 from ZAR 205 previously, while keeping a hold rating on the shares.

Earlier this year, the company said that its net income in the first semester grew by 33 percent to R7.9 billion from R5.96 billion in the same period a year earlier, as revenues rose by 18 percent to R37.1 billion from R31.4 billion, with gold revenues contributing to total revenue growth, increasing 19 percent to R35.4 million from R29.7 million.

Overall HMY ranks 9th on our list of the worst performing stocks on Wednesday. While we acknowledge the potential of HMY as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than HMY but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

Disclosure: None. This article is originally published at Insider Monkey.

We recently published an article titled Gold Miners Dominate Tuesday's Worst-Performing Stocks. In this article, we are going to take a look at where Harmony Gold Mining Company Limited (NYSE:HMY) stands against the other stocks.

Wall Street’s main indices bounced back from a bloodbath on Tuesday as investors gobbled up shares on hopes that the US-China trade tensions can subside.

The Dow Jones rallied by 2.66 percent, the S&P 500 rose by 2.51 percent, and the Nasdaq surged by 2.71 percent.

Despite a broader market optimism, 10 companies, predominantly gold miners, were heavily sold down amid lower gold prices.

To come up with the list, we considered only the stocks with more than $1 billion in market capitalization and $5 million in trading volume.

Why Harmony Gold Mining Company Ltd. (HMY) Soared Last Week?

An open pit mine with heavy excavation machinery toiling away against the backdrop of a hidden valley.

Harmony Gold Mining Company Limited (NYSE:HMY)

Harmony Gold Mining Company Limited (NYSE:HMY) dropped its share prices by 3.9 percent on Tuesday to end at $17.01 apiece as investor funds flocked to higher-yielding assets such as Bitcoin amid the drop in spot prices of gold.

As of this writing, spot prices of gold were at $3,340.94 per ounce, marking a drop from the $3,500 territory in the previous trading session.

In recent news, Harmony Gold Mining Company Limited (NYSE:HMY) earned a higher price target of ZAR 295 from ZAR 205 previously, while keeping a hold rating on the shares.

Overall HMY ranks 9th on our list of Tuesday's worst-performing stocks. While we acknowledge the potential of HMY as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than HMY but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

Disclosure: None. This article is originally published at Insider Monkey.

We came across a bullish thesis on Harmony Gold Mining Company Limited (HMY) on Value Investing Subreddit Page by Intelligent_Okra5374. In this article, we will summarize the bulls’ thesis on HMY. Harmony Gold Mining Company Limited (HMY)'s share was trading at $12.96 as of April 7th. HMY’s trailing P/E was 14.84 according to Yahoo Finance.

Drills extracting gold from a gold mine, revealing the company's gold mining operation.

While the broader market is grappling with a 14% year-to-date decline, dragged down by tariff fears and macroeconomic headwinds, Harmony Gold Mining (HMY) has bucked the trend, rallying an impressive 60% YTD. This exceptional performance stems from both a favorable macro backdrop and strong operational execution. HMY benefits from its position within the gold mining sector, which tends to outperform during periods of economic uncertainty, market corrections, and geopolitical tensions. Gold’s 16% YTD price increase underscores its role as a safe-haven asset, attracting capital flows away from riskier equities. Harmony, with operations in South Africa, Papua New Guinea, and Australasia, is well positioned to capitalize on this trend—not only through gold, but with exposure to uranium, silver, and increasingly, copper. However, the company’s outperformance extends beyond macro tailwinds; its internal fundamentals are just as compelling.

Over the past six months, Harmony has posted robust results: revenue climbed 19%, net profit surged 33%, and it generated record free cash flow of R10.39 billion. These results empowered the company to issue its highest-ever interim dividend, reflecting both financial strength and shareholder alignment. While overall gold production dipped slightly, Harmony’s pivot to high-grade, low-cost assets like Mponeng, and its future copper production, demonstrate a strategic shift toward margin resilience and diversification. The company is also in a rare position of strength in mining—net cash positive, with R7.28 billion on hand—giving it ample flexibility to fund growth organically without debt dependency. Risks such as gold price volatility or operational disruptions persist, but Harmony’s discipline in cost control and project selection create a buffer that few peers can match.

From a technical standpoint, the stock has been volatile, trading in a wide 52-week range of $7.97 to $15.22. Yet, momentum indicators like the MACD point to continued upside, and the recent pullback may represent a compelling entry point. Valuation remains attractive, with its P/E ratio aligned with peers, and Harmony’s forward-looking copper strategy adds a fresh layer of long-term growth alongside gold’s defensive appeal. In a market fraught with uncertainty, Harmony offers a rare combination of high-quality assets, strong free cash flow, and strategic optionality. Whether the goal is short-term gains from momentum or long-term value tied to resource diversification and fiscal prudence, HMY stands out as a buy-worthy name with significant upside potential.

Harmony Gold Mining Company Limited (HMY) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held HMY at the end of the fourth quarter which was 11 in the previous quarter. While we acknowledge the risk and potential of HMY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than HMY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

Disclosure: None. This article was originally published at Insider Monkey.

Lupaka Gold Corp

VANCOUVER, British Columbia, April 02, 2025 (GLOBE NEWSWIRE) — Lupaka Gold Corp. ("Lupaka" or the “Company") (TSX-V: LPK, FRA: LQP) has received an update from the Arbitral Tribunal regarding the Company’s ongoing Arbitration Claim against the Republic of Peru.

Quoted from the Tribunal’s update “The Tribunal refers to the Claimant’s communication of 14 March 2025, and it wishes to provide the following status update to the Parties:

The ruling is in the final translation stage, but the process of translation and checking has been unexpectedly time-consuming. Considering the time necessary to finalize the ruling for dispatch in the two procedural languages, the Tribunal anticipates and intends that the ruling will be dispatched this Spring.”

Gordon Ellis (CEO) commented “Although we had anticipated a final ruling by this time, the good news is that we are already into “Spring” so a final ruling is expected in the very near future.”

For ongoing updates and more detail with respect to the arbitration, 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/#2020).

Lupaka is represented in the arbitration proceedings by the international law firm LALIVE (www.lalive.law), and has 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 company focused on creating shareholder value through 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

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

We recently published a list of 10 Firms Kick Off Trading Week Stronger. In this article, we are going to take a look at where Harmony Gold Mining Company Ltd. (NYSE:HMY) stands against other firms that kicked off the trading week stronger.

The stock market began the trading week on a mixed note as investors continued to digest President Donald Trump’s new tariff agenda, with all economies expecting to be hit by import taxes.

Among all major indices, only the Nasdaq registered losses, down 0.14 percent. In contrast, the Dow Jones jumped by 1 percent while the S&P 500 grew by 0.55 percent.

Despite the broader market downturn, 10 individual stocks stood their ground, finishing the day in the green amid a flurry of fresh corporate developments that boosted investor appetite.

In this article, we named Monday’s top performers and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.

Why Harmony Gold Mining Company Ltd. (HMY) Went Up On Monday?

An open pit mine with heavy excavation machinery toiling away against the backdrop of a hidden valley.

Harmony Gold Mining Company Ltd. (NYSE:HMY)

Harmony Gold extended its winning streak for a third day on Monday, adding 5.05 percent to close at $14.77 apiece as investors gobbled up shares after prices of gold hit a new record high.

On Monday, the spot prices of gold cracked past the $3,100 level for the first time as concerns about US President Donald Trump’s more aggressive tariff stance drove investor funds to safer assets such as gold and spilled over to gold mining stocks.

Optimistic outlooks for the precious metal further added to the sentiment, with Goldman Sachs expecting gold to soar to the $4,500 level over the next 12 months amid extreme market conditions.

Meanwhile, Bank of America raised its average gold price targets for this year and the next to $3,063 per ounce this year and $3,350 per ounce in 2026.

The new figures were markedly up from its previous forecasts of $2,750 per ounce for 2025 and $2,625 per ounce for 2026.

Earlier this year, HMY announced that its net income in the first semester grew by 33 percent to R7.9 billion from R5.96 billion in the same period a year earlier, as revenues rose by 18 percent to R37.1 billion from R31.4 billion, with gold revenues contributing to total revenue growth, increasing 19 percent to R35.4 million from R29.7 million.

Overall, HMY ranks 6th on our list of firms that kicked off the trading week stronger. While we acknowledge the potential of HMY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as HMY but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

Disclosure: None. This article is originally published at Insider Monkey.

We recently published a list of 10 Stocks Outperform Broader Market Last Week. In this article, we are going to take a look at where Harmony Gold Mining Company Ltd. (NYSE:HMY) stands against other stocks that outperformed broader market last week.

Wall Street’s main indices traded lower week-on-week as investor sentiment continued to be dragged by the ongoing trade tensions globally.

The tech-heavy Nasdaq was down by 2.59 percent versus its level on March 21. Meanwhile, the S&P 500 declined by 1.5 percent and the Dow Jones dropped by 0.956 percent.

Ten individual stocks, on the other hand, managed to stay stronger, three of which were particularly notable as funds flocking to gold assets spilled over into their stocks.

In this article, we listed last week’s 10 top performers and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million trading volume.

Why Harmony Gold Mining Company Ltd. (HMY) Went Up Last Week?

An open pit mine with heavy excavation machinery toiling away against the backdrop of a hidden valley.

Harmony Gold Mining Company Ltd. (NYSE:HMY)

Higher gold prices and an optimistic outlook propelled Harmony Gold’s share prices by 10.44 percent last week to end at $14.06 from the $12.73 registered on March 21.

As of Friday, spot prices of gold were up by 0.91 percent to a new all-time high of $3,085.12 per ounce. Friday’s increase marked its 18th record high this year as investor funds flocked to safer assets such as gold to mitigate risks from the ongoing economic uncertainties.

Meanwhile, Bank of America raised its average gold price targets for this year and the next to $3,063 per ounce this year and $3,350 per ounce in 2026.

The new figures were markedly up from its previous forecasts of $2,750 per ounce for 2025 and $2,625 per ounce for 2026.

Overall, HMY ranks 7th on our list of stocks that outperformed broader market last week. While we acknowledge the potential of HMY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as HMY but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

Disclosure: None. This article is originally published at Insider Monkey.

We recently published a list of 10 Firms End Friday Strong; 3 Reach All-Time Highs. In this article, we are going to take a look at where Harmony Gold Mining Company Limited (NYSE:HMY) stands against other firms that end Friday strong.

Wall Street’s main indices finished the trading week in the negative territory as investor sentiment was weighed down by economic uncertainties brought about by the ongoing trade tensions globally.

The tech-heavy Nasdaq fell the heaviest, by 2.70 percent, followed by the S&P 500, by 1.97 percent, and the Dow Jones, by 1.69 percent.

Despite the broader market downturn, 10 individual stocks showed a strong performance during the trading session, with three companies particularly notable for hitting new all-time highs.

In this article, we listed Friday’s top performers and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million in trading volume.

Why Harmony Gold Mining Company Limited (HMY) Went Up On Friday?

An open pit mine with heavy excavation machinery toiling away against the backdrop of a hidden valley.

Harmony Gold Mining Company Limited (NYSE:HMY)

Harmony Gold surged by 9.5 percent on Friday to finish at $14.06 apiece as investors snapped up shares in the company following higher gold spot prices and outlook from an investment firm.

As of Friday, 6:24 PM EDT, spot prices of gold were up by 0.91 percent to a new all-time high of $3,085.12 per ounce, marking its 18th record high this year, as investors continued to flock to safer assets amid the ongoing trade tensions globally.

The higher prices pushed Bank of America to raise its average gold price targets for this year and the next. In its market note on Wednesday, the investment firm raised its gold price forecast to $3,063 per ounce this year and to $3,350 per ounce next year. The new figures marked a significant increase from its previous forecasts of $2,750 per ounce for 2025 and $2,625 per ounce for 2026.

Overall, HMY ranks 1st on our list of firms that end Friday strong. While we acknowledge the potential of HMY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as HMY but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

Disclosure: None. This article is originally published at Insider Monkey.

Gold stocks Harmony Gold and AngloGold Ashanti jumped after inflation came in hot on Friday. Shares of both are at a new highs.

Sprott Gold Miners ETF SGDM, which offers exposure to gold stocks, has gained 31.6%, becoming the best-performing ETF of the first quarter.Although most of the stocks in SGDM’s portfolio delivered strong returns, a few have gained more than 50%. These include Orla Mining Ltd. ORLA, SSR Mining Inc. SSRM, Gold Fields Limited GFI, Harmony Gold Mining Company Limited HMY and AngloGold Ashanti PLC AU.Gold mining stocks and ETFs are outperforming this year, driven by a surge in gold price. Mining companies act as leveraged plays on the underlying metal prices and thus tend to experience more gains than their bullion cousins in a rising metal market (read: Gold Mining ETFs Shine Amid Market Rout).Gold has been on an unstoppable rally and recently breached the 3,050 level. The strong safe-haven demand amid economic uncertainties triggered by U.S. President Donald Trump's trade tariff war and escalating geopolitical tensions, as well as potential rate cuts, drove the rally. Gold is often used to preserve wealth during financial and political uncertainty and usually does well when other asset classes struggle. Additionally, the inflationary pressure caused by new tariffs will benefit the precious metal's status as a hedge against rising prices.In the latest meeting, Fed Chair Jerome Powell kept interest rates steady and maintained the two-rate cut projections for this year. Lower interest rates will continue to support gold prices as these raise the yellow metal’s attractiveness compared with fixed-income assets such as bonds. Notably, gold is highly sensitive to rising U.S. interest rates, as these increase the opportunity costs of holding the non-yielding bullion.Apart from these, central banks are among the major drivers of gold prices. Banks are dominant buyers of gold as they seek to diversify their reserves away from the U.S. dollar. In particular, China extended its purchases for the fourth consecutive month in February. According to the latest report from the World Gold Council, global gold demand reached a record high in 2024, driven by sustained central bank buying and growth in investment demand. Central banks accumulated more than 1,000 tons of gold for the third consecutive year (read: Gold ETFs at All-Time High as Bullion Surges Past $3000). Let us take a closer look at the fundamentals of SGDM.

SGDM in Focus

Sprott Gold Miners ETF follows the Solactive Gold Miners Custom Factors Index, which aims to track the performance of larger-sized gold companies whose stocks are listed on Canadian and major U.S. exchanges. It holds 35 stocks in its basket, with Canadian firms taking the top spot at 79.2%, followed by 18.7% in the United States. Sprott Gold Miners ETF has amassed $321.7 million in its asset base and trades in a lower volume of around 44,000 shares a day. It charges 50 bps in annual fees from investors.

Best-Performing Stocks of SGDM

Orla Mining is primarily engaged in developing the Camino Rojo Oxide Gold Project, an advanced gold and silver open-pit and heap-leach project located in Zacatecas State, central Mexico. The stock has skyrocketed 63% since the start of the year and accounts for a 3.4% share in the ETF. It has an estimated earnings growth rate of 84% for this year.Orla Mining has a Zacks Rank #3 (Hold) and a VGM Score of A.SSR Mining is a mining company focused on the operation, development, exploration and acquisition of precious metal projects. The company primarily explores for gold, silver, and mineral properties. The stock has jumped 60% so far this year and accounts for a 0.4% share in SGDM’s basket. It has an estimated earnings growth rate of 185.7% for this year.SSR Mining currently has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Gold Fields is one of the world's largest unhedged gold producers, with operating mines in South Africa, Ghana and Australia. The stock has soared 55.8% and accounts for a 1.27% share in the ETF. Gold Fields has an estimated earnings growth of 40.1% for this year.GFI has a Zacks Rank #4 (Sell) and a VGM Score of B.Harmony Gold conducts underground and surface gold mining. It is engaged in related activities such as exploration, processing, smelting and refining. The stock has surged 54.2% since the start of the year and accounts for a 0.39% share in the ETF. Harmony Gold has an estimated earnings growth of 10.2% for the fiscal year (ending June 2025) and has a Zacks Rank #4. It has a VGM Score of B (read: Gold (GLD) or Gold Mining (GDX): Which ETF is Better?).AngloGold operates as a gold mining company in Africa, the Americas and Australia. The company explores for gold. AngloGold has gained 51% so far this year and accounts for a 0.94% share in the ETF. AngloGold has an estimated earnings growth rate of 12.7% for this year but has a Zacks Rank #5 (Strong Sell).

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AngloGold Ashanti PLC (AU) : Free Stock Analysis Report

Gold Fields Limited (GFI) : Free Stock Analysis Report

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

Sprott Gold Miners ETF (SGDM): ETF Research Reports

Silver Standard Resources Inc. (SSRM) : Free Stock Analysis Report

Orla Mining Ltd. (ORLA) : Free Stock Analysis Report

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

Zacks Investment Research

Goliath Resources (GOT.V) reported Thursday an update on the Surebet discovery within its Golddigger

Goliath Resources Limited

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Dyke Highlights:

17 feeder dykes have been intersected in drill holes and/or mapped on surface, of which 13 remain to be tested. These will be logged, sampled and assayed in the upcoming 2025 program based on strong assays results from the first 4 dykes tested in 2024 providing for excellent potential to vector in and target the gold mineralizing system.
4 feeder dykes drilled, logged and assayed contained high-grade gold intervals that displayed visible gold, as well as molybdenite, bismuth and tellurium mineralization related to a Reduced Intrusion Related Gold System (RIRG).
19 holes drilled in 2021 – 2024 with highly prospective intervals of mineralized porphyritic RIRG dykes will be relogged as part of the 2025 program that suggest possibly >900 meters of new samples for a quick start of early assaying this season; mobilization planned for May 2025.
High-grade gold mineralization was reported earlier this year from a relogged drill hole from 2022 that assayed 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters, plus a second separate interval of 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters that intersected a feeder dyke derived from the Motherlode gold-rich Reduced Intrusion Related Gold System (RIRG) source. Additional feeder dykes have also confirmed gold mineralized intrusion related in drill holes to a down-hole depth of 500 meters with grades ranging from 1.08 g/t AuEq over 1.10 meters to 10.50 g/t AuEq over 7.00 meters. The gold mineralized feeder dykes are up to 25 meters wide and exposed along strike at surface for up to 1,500 meters and remain open, strongly indicating close proximity to a gold-rich Motherlode RIRG source.
Mineralization in the dykes occurs as quartz veins and veinlets up to a few centimeters wide containing visible gold, bismuth, bismuth-tellurides and molybdenite, hosted in porphyritic felsic-intermediate ilmenite series granitoids, which is the expected composition of a causative intrusion in the geologic setting where Surebet was formed. Gold in the mineralized dykes occurs included in composite grains with native bismuth and bismuth tellurides. This style of gold mineralization is also found in the gold-rich staked shear hosted quartz veins at Surebet.
The geochronology (age) between the dykes (52.0 ± 1.5 Ma) and sedimentary/volcanic rock hosted stacked veins (50.7 ± 1.0 Ma) indicates the dykes were emplaced at a time indistinguishable from the stacked veins, suggesting a syngenetic relationship between these two mineralization stages. Also, there are two stages of gold mineralization observed petrographically in all gold bearing veins at the Surebet Discovery (see more information below).
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a4d25d0f-21f7-4266-8fb3-14c345a31cf1
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/af414a47-fba3-4781-b030-ea483c3817cd
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/4fee7478-6a86-43c8-9190-693018f5ef3e
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/ebb2abac-668c-4a46-8597-2f40b71e3ae7
Two stages of gold mineralization are observed petrographically in all gold bearing veins at the Surebet Discovery. The first stage is higher-temperature and occurs with a strong bismuth-gold association, which is most commonly observed in the RIRG dykes. This is further evidence these are the feeder pathway structures that provided mineralization for the high-grade gold stacked veins. The second is a lower temperature stage most commonly found in the sedimentary rocks and volcanic rocks. Certain intervals are observed containing both high temperature and low temperature stages of gold i.e. previously announced drill hole GD-24-260 that ran 34.52 g/t AuEq (34.47 Au and 3.96 Ag) over 39 meters, including 132.93 g/t AuEq (132.78 Au and 12.98 Ag) over 10.00 meters.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/b15540b6-810c-487b-9fbd-cf523bb68140
During only 15 months of boots on the ground, strong gold mineralization has been confirmed with assays in 100% of 243 widespread drill holes containing >300 intercepts to date within a 1.8 km2 area. Confirmation of multiple stacked gold veins and widespread gold-rich reduced intrusion (RIRG) feeder dykes, confirms the continuity of the widths and grades at Surebet demonstrating this world-class gold system has tremendous untapped expansion potential remaining.
Confirmation of high gold grades over broad intervals in the recently discovered RIRG system characterized by considerable amounts of visible gold, bismuth, bismuth tellurides and molybdenum mineralization in the felsic to intermediate porphyritic dykes on Surebet materially increases the resource potential of the Surebet discovery. Targeting the feeder dykes and Motherlode gold-rich source will form part of the drill program in 2025 as well expanding the stacked layers of high-grade gold mineralization currently covering at least 1.8 km2 that remains open in all directions on the Surebet discovery.

Dyke Maps & Cross Sections

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/10692b84-5c3e-43a2-a7c8-5a1484773ed9
An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/f4e5c986-c1e6-456e-bfe0-2e53c3c49f1d
An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/5d3076be-c02a-4737-b247-4ab8c98f7ab3
An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/13f5532c-bf70-4065-8c92-460cdaf423dd

Drilling Highlights – Dyke Assays Previously Reported:

GD-22-58, a 2022 drill hole that was relogged in 2024 and previously reported this year intercepted two separate intervals with exceptional gold grades over substantial widths within a reduced intrusion related porphyritic intermediate feeder dyke containing visible gold, bismuth and molybdenum mineralization reminiscent of a RIRG system. The dyke is up to 15 meters wide and strikes north-south for 1,400 meters on surface with 600 meters of vertical relief and remains open:
- 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.
- 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters, including 14.26 g/t AuEq (13.87 g/t Au and 34.10 g/t Ag) over 3.00 meters.
  - An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/ec0912af-7014-47b6-812f-0e32c08b6803
GD-24-237 previously reported intercepted a mineralized intermediate porphyritic dyke that assayed 10.50 g/t AuEq (10.41 f/t Au and 7.15 g/t Ag) over 7.00 meters, including 14.68 g/t AuEq (14.55 g/t Au and 9.82 g/t Ag) over 5.00 meters, and 24.42 g/t AuEq (24.22 g/t Au and 16.01 g/t Ag) over 3.00 meters. The dyke is up to 25 meters wide and strikes north-south for 1,500 meters on surface with 900 m of vertical relief and remains open.
GD-23-180, a 2023 drill hole that was relogged in 2024 and previously reported this year intercepted a mineralized intermediate porphyritic dyke that assayed 3.46 g/t AuEq (3.43 g/t Au and 2.68 g/t Ag) over 7.00 meters including 4.49 g/t AuEq (4.44 g/t Au and 3.75 g/t Ag) over 5 meters. Based on drill information to date the dyke has a northeast-southwest strike extent of 300 meters of strike with 400 meters of vertical relief and remains open. This dyke is not exposed to the surface.
Drill hole GD-23-226 previously reported intercepted a mineralized intermediate porphyritic dyke that assayed 1.85 g/t AuEq (1.85 g/t Au and 0.00 g/t Ag) over 8 meters, including 6.03 g/t AuEq (6.03 g/t Au and 0.00 g/t Ag) over 2 meters. The dyke is up to 25 meters wide and strikes north-south for 1,500 meters on surface with 900 meters of vertical relief and remains open.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/5fe11314-e6ce-4f69-b9af-7fa504ee2deb

TORONTO, March 13, 2025 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report updated modelling confirms the large gold rich stacked layered system of 1.2 kilometres over an area of 1.8 square kilometres is directly associated to a Motherlode Reduced Intrusive Gold System (RIRG) source with multiple gold rich feeder dykes at Surebet on its 100% controlled Golddigger Property (the “Property”), Golden Triangle, B.C. Previously reported feeder dyke holes assayed up to 12 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10 meters and remains open for expansion. These RIRG feeder dykes are up to 25 meters wide and exposed at surface along strike for up to 1,500 meters and remain open. The geochronology age between the dykes (52.0 ± 1.5 Ma) and sedimentary/volcanic rock hosted stacked veins (50.7 ± 1.0 Ma) indicates the dykes were emplaced at a time indistinguishable from the stack veins, suggesting a syngenetic relationship between these two mineralization stages.

17 feeder dykes have been intersected in drill holes and/or mapped on surface, of which 13 remain to be tested. These will be logged, sampled and assayed in the upcoming quick start 2025 program based on strong assays results from the first 4 feeder dykes tested in 2024. These provide for excellent potential to vector in and target the gold mineralizing system. 4 of the feeder dykes logged and assayed contained high-grade gold intervals that displayed visible gold, as well as molybdenite, bismuth and tellurium mineralization related to a Reduced Intrusion Related Gold System (RIRG). 19 drill holes from 2021 – 2024 with highly prospective intervals of mineralized porphyritic dykes will relogged and assayed as part of the 2025 program that suggest possibly >900 meters of new samples for assaying early on in the season; mobilization is scheduled for May this year.

Dr. Quinton Hennigh, Geologic/Technical Director of Crescat Capital, a strategic investor in Goliath, states: “At the Surebet Discovery, we now see compelling evidence of the causative intrusion that generated this remarkable high-grade gold system. A series of steeply dipping dykes encountered in some recent diamond drill holes bear quartz-sulfide veins and veinlets with compositions strongly similar to those of the numerous shallow dipping and flat lodes that have been the main focus of exploration to date. Age dating shows that the emplacement of these dykes is very close to the age of mineralization. This is intriguing for three reasons. Firstly, it indicates that the dykes themselves are a very prospective, potentially extensive exploration target. Secondly, the dykes and mineralisation forming fluids are clearly tapping the same structures, ones that are presumably deeply rooted and coming from a parent magma source at depth. This could mean there is a lot more gold in the system to explore under and laterally at the Surebet Discovery. Lastly, it is also immediately evident that there is a spatial relation between these dykes and the location of most of the highest grade intercepts encountered to date. In short, we now have a clear vector to guide future drilling at high-grade areas. The 2025 drill season cannot start soon enough.”

Randall Karcher, CASERM researcher and PhD student at the Colorado School of Mines, states: “The granitoid dykes at Surebet have several characteristics which indicate they are part of the system responsible for gold mineralization on the property. Gold in the mineralized dykes occurs within composite grains alongside native bismuth and bismuth tellurides. This style of gold mineralization is also found in the gold rich quartz vein elsewhere at Surebet. Furthermore, the dykes are felsic-intermediate ilmenite series granitoids, which is the expected composition of a causative intrusion in the setting where Surebet was formed. Finally, coincident geochronology between the dykes and the sedimentary/volcanic rock hosted stacked veins indicates that the dykes were emplaced at a time indistinguishable from the veins, suggesting a syngenetic relationship between the two. The discovery of gold bearing intrusive rocks of this character provide strong exploration implications for the intrusive “feeder system”. Additionally, the abundance of local intrusive rocks at Golddigger of similar ages to mineralization show strong exploitation potential moving forward.”

Roger Rosmus, Founder and CEO of Goliath, states: “Recently completed detailed modelling of our drilling to date has shown that in addition to a series of gently dipping vertically stacked veins over 1.2km at the Surebet high-grade gold discovery, there are also a series of near vertical RIRG gold mineralization within the dykes. Our geological team is excited about these dykes and stacked veins being roughly the same age in geological terms that point to a Motherlode RIRG source. If one considers that there are stacked veins dipping toward the southeast and others to the southwest, plus the network of vertical dykes with the higher-temperature gold and occurs with a strong bismuth-gold suggests they are connected and proximal to the source. Things are shaping up to look like we have the potential for a combination of stacked veins similar to the Pogo Mine in combination with a RIRG system like Snowline’s discovery in the Yukon. Both the Pogo Mine and Snowline’s discovery are part of the Tintina Gold Province, and it is remarkable that we could see something similar as part of the same system in the prolific Golden Triangle to the south of the Tintina Gold Province. We look forward to a quick start to our exploration season in May 2025 this year, we will be relogging and assaying the 19 holes of feeder dyke core drilled between 2021 – 2024 that could possibly end up being >900 meters being sent to the lab. Drilling this exploration season will look to further expanding the stacked veins and dykes for vectoring into the source of the gold system at the Surebet Discovery.”

Dykes – drilling results previously reported:

GD-22-58 previously reported intercepted two separate intervals with exceptional gold grades over substantial widths within a reduced intrusion related porphyritic intermediate feeder dyke containing visible gold, bismuth and molybdenum mineralization reminiscent of a RIRG system. The dyke is up to 15 m wide and strikes north-south for 1400 meters on surface with 600 meters of vertical relief and remains open:
- 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.
- 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters, including 14.26 g/t AuEq (13.87 g/t Au and 34.10 g/t Ag) over 3.00 meters.
Drill hole GD-24-237 previously reported intercepted a mineralized intermediate porphyritic dyke that assayed 10.50 g/t AuEq (10.41 f/t Au and 7.15 g/t Ag) over 7.00 meters, including 14.68 g/t AuEq (14.55 g/t Au and 9.82 g/t Ag) over 5.00 meters, and 24.42 g/t AuEq (24.22 g/t Au and 16.01 g/t Ag) over 3.00 meters. The dyke is up to 25 meters wide and strikes north-south for 1500 meters on surface with 900 m of vertical relief and remains open.
Drill hole GD-23-180 previously reported intercepted a mineralized intermediate porphyritic dyke that assayed 3.46 g/t AuEq (3.43 g/t Au and 2.68 g/t Ag) over 7.00 meters including 4.49 g/t AuEq (4.44 g/t Au and 3.75 g/t Ag) over 5 meters. Based on drill information to date the dyke has a northeast-southwest strike extent of 300 meters strike with 400 meters of vertical relief and remains open. The dyke is not exposed on surface.
Drill hole GD-23-226 previously reported intercepted a mineralized intermediate porphyritic dyke that assayed 1.85 g/t AuEq (1.85 g/t Au and 0.00 g/t Ag) over 8 meters, including 6.03 g/t AuEq (6.03 g/t Au and 0.00 g/t Ag) over 2 meters. The dyke is up to 25 meters wide and strikes north-south for 1,500 meters on surface with 900 meters of vertical relief and remains open.

The granitoid dykes at Surebet have several characteristics which indicate they are part of the system responsible for gold mineralization on Surebet. Mineralization in the dykes occurs as quartz veins and veinlets up to a few centimeters wide containing visible gold, bismuth, bismuth-tellurides and molybdenite, hosted in porphyritic felsic-intermediate ilmenite-series granitoids, which is the expected composition of a causative intrusion in the geologic setting where Surebet was formed. Gold in the mineralized dykes occurs included in composite grains with native bismuth and bismuth tellurides. This style of gold mineralization is also found in the gold-rich staked shear hosted quartz veins at Surebet. The geochronology age between the dykes (52.0 ± 1.5 Ma) and sedimentary/volcanic rock hosted stacked veins (50.7 ± 1.0 Ma) indicates the dykes were emplaced at a time indistinguishable from the stack veins, suggesting a syngenetic relationship between these two mineralization stages.

Table 1: Highlighted drill holes that intercepted RIRG in dykes – previously reported.

Hole ID		From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)	Cu (%)	Pb (%)	Zn (%)	AuEq (g/t)
GD-22-58	Interval	220.00	230.00	10.00	11.84	15.61	0.00	0.01	0.02	12.03
	Including	224.00	230.00	6.00	19.62	25.61	0.00	0.01	0.02	19.91
	Including	225.00	230.00	5.00	23.47	30.54	0.00	0.01	0.02	23.82
	Interval	244.00	249.00	5.00	8.35	20.74	0.00	0.01	0.02	8.59
	Including	245.00	248.00	3.00	13.87	34.10	0.00	0.01	0.02	14.26
GD-24-237	Interval	313.00	320.00	7.00	10.41	7.15	0.00	0.01	0.02	10.50
	Including	314.00	319.00	5.00	14.55	9.82	0.00	0.01	0.02	14.68
	Including	315.00	318.00	3.00	24.22	16.01	0.00	0.01	0.02	24.42
GD-24-180	Interval	266.00	273.00	7.00	3.43	2.68	0.00	0.00	0.00	3.46
GD-24-180	Including	267.00	272.00	5.00	4.44	3.75	0.00	0.00	0.00	4.49
GD-24-226	Interval	491.00	499.00	8.00	1.85	0.00	0.00	0.00	0.00	1.85
GD-24-226	Including	491.00	493.00	2.00	6.03	0.00	0.00	0.00	0.00	6.03
GD-24-61	Interval	195.00	196.00	1.00	1.39	0.06	0.00	0.00	0.01	1.40
GD-24-77	Interval	41.00	44.00	3.00	1.00	3.77	0.00	0.00	0.01	1.05
GD-24-183	Interval	122.00	134.00	12.00	2.28	2.29	0.00	0.00	0.01	2.31
GD-24-209	Interval	341.00	343.00	2.00	1.11	1.12	0.00	0.01	0.02	1.13
GD-24-221	Interval	89.90	91.00	1.10	1.06	0.83	0.00	0.00	0.01	1.08

All 4 dykes logged and assayed contained high-grade gold intervals that displayed visible gold, as well as molybdenite, bismuth and tellurium mineralization. An additional 13 dykes have been intersected in drill holes and/or mapped on the surface and remain to be tested. These will be logged, sampled and assayed in the upcoming 2025 program based on strong assays results from the first 4 dykes tested in 2024 providing for excellent additional resource potential.

Table 2: 19 Drill holes with highly prospective intervals of mineralized porphyritic dykes to relog and assay in 2025 (~900 meters).

Hole ID	From (m)	To (m)	Interval (m)	Comment
GD-21-06	153	182	29	Relog and sample; alteration
GD-21-09	133	143	10	Relog and sample
GD-22-102	84	151	67	Relog and sample
GD-22-64	264	301	37	Relog and sample
GD-22-74	106	171	65	Relog and sample; alteration
GD-22-74	12	56	44	Relog and sample; alteration
GD-23-151	206	214	8	Relog and sample
GD-23-151	269.5	273	3.5	Relog and sample
GD-23-151	279	285	6	Relog and sample; alteration
GD-23-197	23	127	104	Relog and sample; fault
GD-23-197	164	314	150	Relog and sample
GD-23-202	728	739	11	Relog and sample; alteration
GD-24-237	0	29	29	Relog and sample; multiple intervals
GD-24-238	270	275	5	Relog and sample; alteration
GD-24-246	39	135	96	Relog and sample
GD-24-248	579	681	102	Relog and sample
GD-24-259	343.26	357	13.74	Relog and sample
GD-24-269	82	87	5	Relog and sample
GD-24-272	79	124	45	Relog and sample
GD-24-284	0	59	59	Relog and sample; alteration
GD-24-285	186	211	25	Relog and sample
GD-24-285	329	341	12	Relog and sample
GD-24-295	0	143	143	Relog and sample
GD-24-299	TBD	TBD	TBD	Relog and sample; multiple intervals

During only 15 months of boots on the ground, strong gold mineralization has been confirmed with assays in 100% of 243 widespread drill holes containing >300 intercepts to date within a 1.8 km2 area. Confirmation of multiple stacked gold veins and widespread gold-rich reduced intrusion feeder dykes, confirms the continuity of the widths and grades at Surebet demonstrating this world-class gold system has tremendous additional untapped expansion potential remaining.

The drill program being planned in 2025 will focus on expanding the stacked veins of high-grade gold mineralization that remains open in all directions, including to depth and vectoring in on and targeting the Motherlode RIRG believed to be the source for the extensive high-grade gold mineralization on the Surebet Discovery. The Company looks forward to continuing to expand the mineralization at Surebet and increase the understanding of the geometry and controls of the mineralization. The discovery of the RIRG mineralization clearly indicates proximity to the source of this extensive mineralizing system.

Table 3: Collar information for drill holes from Surebet reported in this news release.

Hole ID	CRS	Easting (m)	Northing (m)	Elevation (m)	Azimuth (deg)	Dip (deg)	Length (m)
GD-22-58	NAD83 / UTM zone 9N	457512	6163073	1656	120	55	399
GD-22-61	NAD83 / UTM zone 9N	456577	6162712	1580	0	60	670
GD-22-77	NAD83 / UTM zone 9N	457190	6162991	1656	130	75	504
GD-23-180	NAD83 / UTM zone 9N	457452	6162783	1514	145	55	535
GD-23-183	NAD83 / UTM zone 9N	457337	6162680	1444	100	65	507
GD-23-209	NAD83 / UTM zone 9N	457452	6162781	1513	140	65	397
GD-23-221	NAD83 / UTM zone 9N	457570	6162454	1443	70	70	273
GD-23-226	NAD83 / UTM zone 9N	457382	6162942	1622	140	69	653
GD-24-237	NAD83 / UTM zone 9N	457445	6162776	1511	140	70	848

Golddigger Property

About CASERM (Center to Advance the Science of Exploration to Reclamation in Mining)

Goliath is a paying member and active supporter of CASERM, an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech aimed at transforming the way that geoscience data is used in the mineral resource industry. 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. As a CASERM member, the Company requested a study and written report to be performed by Colorado School of Mines analysing Surebet’s origin of mineralization. The study confirmed an extensive porphyry feeder source at depth for the high-grade gold mineralising fluids at Surebet.

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 also a director of the Company.

Goliath’s Annual General Meeting (AGM) – Updated Dial In Number

If you wish to dial in and listen to Goliath’s AGM proceedings on Monday, March 17, 2025 at 1:00pm (Toronto time), please be advised the new dial in number is +1.437.703.7440 and the code is 105301859#.

About Goliath Resources Limited

For more information please contact:

Goliath Resources Limited Mr. Roger Rosmus Founder and CEO Tel: +1.416.488.2887roger@goliathresources.com www.goliathresourcesltd.com

Other

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 2017-2022 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration are 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. Standards, blanks and duplicates were added in the sample stream at a rate of 10%.

There is no way of telling when the stock market will turn around. It’s found in the Stock Lists tab along the top of Investors.com. The list holds industry group leaders that meet high standards for earnings and price performance.

McEwen Mining (MUX) has completed a non-brokered private placement with Goliath Resources, acquiring

Goliath Resources Limited

TORONTO, March 10, 2025 (GLOBE NEWSWIRE) — Further to its press releases dated January 29, 2025 and February 18, 2025, Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to announce it has closed its strategic non-brokered private placement of 5,181,347 units of the Company (“Units”) to McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) (“McEwen”), an arm’s length party to the Company, at a deemed price of C$1.93 per Unit in exchange for the issuance to the Company of an aggregate of 868,056 shares of common stock of McEwen (“McEwen Shares”) at a deemed price of C$11.52 per McEwen Share (the “Transaction”), pursuant to the terms of a subscription agreement. On closing of the Transaction, McEwen owns ~5.4% and Mr. Rob McEwen owns ~3.9% of Goliath on a partially diluted basis.

Robert McEwen, Chairman & Chief Owner, commented: “I have been impressed with Goliath’s Surebet gold discovery since I became a shareholder in 2023. Their 2024 drilling season was particularly impressive, 92% of their drill holes had visible gold. Grassroots high-grade gold discoveries are exceedingly rare worldwide. Drill baby, drill, keep these great results coming.”

Roger Rosmus, Founder & Chief Executive Officer of Goliath, commented: “It is with great pleasure to announce the completion of the strategic investment from McEwen Mining. Mr. McEwen has made three personal investments in Goliath, and we are delighted to have him and his company as key strategic cornerstone shareholders. The endorsement of our Surebet discovery through McEwen Mining and Mr. McEwen is exciting to us for key reasons. Rob is a member of the Canadian Mining Hall of Fame due to his success building Goldcorp and as a strategic investor in the mining sector. We are looking forward to our upcoming 2025 drilling season.”

Each Unit is comprised of one (1) common share in the capital of the Company (each, a “Common Share”) and one-half of one (1/2) common share purchase warrant (each whole common share purchase warrant, a “Warrant”), resulting in the issuance of an aggregate of 2,590,673 Warrants. Each Warrant entitles the holder thereof to purchase one (1) Common Share at an exercise price of C$2.50 per Common Share for a period of 12 months from the date of issuance. All securities issued pursuant to the Transaction will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

In addition to the subscription agreement, the Company, McEwen and Mr. Robert McEwen entered into a standstill agreement, pursuant to which McEwen and Mr. McEwen agreed to, among other things, not acquire, offer to acquire or agree to acquire (with or without conditions) any securities of the Company exceeding 9.9% of the issued and outstanding Common Shares or any material assets or liabilities of the Company or its affiliates, without the prior written consent of the Company for a period of two years.

Qualified Person

About Goliath Resources Limited

For more information please contact:Goliath Resources LimitedMr. Roger RosmusFounder and CEOTel: +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 Transaction. 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.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. 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 state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

We recently compiled a list of the 10 Stocks End With Solid Performance. In this article, we are going to take a look at where Harmony Gold Mining Company Limited (NYSE:HMY) stands against the other stocks.

The stock market ended the trading week in the green territory with all major indices recording gains as investors digested latest US jobs data which fell short of expectations.

The tech-heavy Nasdaq posted the largest gain with 0.70 percent, followed by the S&P 500 with 0.55 percent, and the Dow Jones by 0.52 percent.

Ten companies across mixed sectors also mirrored a broader market optimism, booking modest gains during the end of the trading week. In this article, we have named the 10 top performers on Friday and detailed the reasons behind their performance.

To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Is Harmony Gold (HMY) Close Shortened Trading Week Higher?

An open pit mine with heavy excavation machinery toiling away against the backdrop of a hidden valley.

Harmony Gold Mining Company Limited (NYSE:HMY)

Harmony Gold Mining Company Limited (NYSE:HMY) extended its winning streak for a fifth straight day on Friday to end 9.12 percent higher at $11.84 apiece as investor sentiment remained fueled by its stellar earnings performance in the first half of fiscal year 2025.

In a statement, Harmony Gold Mining Company Limited (NYSE:HMY) said net income in the first semester grew 33 percent to R7.9 billion from R5.96 billion in the same period a year earlier, as revenues rose 18 percent to R37.1 billion from R31.4 billion, and gold revenues increased 19 percent to R35.4 million from R29.7 million.

Total gold production, meanwhile, decreased by 4 percent but was in line with the company’s expectations.

Harmony Gold Mining Company Limited (NYSE:HMY) is a leading gold producer that operates mining projects across South Africa, Papua New Guinea, and Australia.

Overall HMY ranks 8th on our list of Friday's top performers. While we acknowledge the potential of HMY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HMY but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

Disclosure: None. This article is originally published at Insider Monkey.

Revenue: Increased by 18% to 37 billion rand.
Net Profit: Increased by 33% to 7.9 billion rand.
Operating Free Cash Flow: Record generation of 10.4 billion rand or $579 million US dollars.
Operating Free Cash Flow Margin: Expanded to 29%.
Headline Earnings Per Share: Increased by 33% to 1,270 rand or 71 US cents per share.
All-in Sustaining Costs: Approximately 972,000 rand per kilogram or $1690 US dollars per ounce.
All-in Costs: Just over 1 million rand per kilogram or $1810 per ounce.
Dividend Payout: Record interim dividend of 1.4 billion rand.
Net Cash Position: Increased to 7.3 billion rand.
EBITDA: Rolling 12-month EBITDA increased by 28% to over 22 billion rand.
Cash Operating Costs: Increased by 9% in rand terms, with unit cost per kilogram up 14% to about 814,000 rand or $1400 US dollars per ounce.
Production: Group production was about 25,000 kg or 800,000 ounces for the first half.
Recovered Grades: Increased to 6.4 g per ton at South African underground operations.

Warning! GuruFocus has detected 6 Warning Sign with BOG:GRUPOARGOS.

Release Date: March 04, 2025

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) delivered a stellar set of interim results with underground recovered grades increasing to 6.4 g per ton, ahead of full-year guidance.
Group production reached approximately 800,000 ounces for the first half, surpassing guidance.
Record interim operating free cash flows of 10.4 billion rand or $579 million US dollars were generated.
Headline earnings per share grew by 33% to 71 US cents per share, with a record interim dividend payout of 1.4 billion rand.
The company has a strong balance sheet in a net cash position, with significant headroom for future investments.

Negative Points

Total cash operating costs in rand terms increased by 9% in the first half, mainly due to inflationary pressures.
Unit cash operating cost per kilogram increased by 14% to about 814,000 rand per kilogram, or about $1400 US dollars per ounce.
Royalties increased by 46% due to high gold prices, impacting profitability.
Grades at Hidden Valley have seen a step down this year compared to last, which was anticipated but still affects production metrics.
The permitting process for the Wafi Gold project is ongoing, causing delays in project execution and potential future revenue.

Q & A Highlights

Q: What strategic changes do you plan to implement as the new CEO of Harmony Gold Mining? A: Beyers Nel, CEO, emphasized the importance of creating shareholder value and maintaining a balanced approach to decision-making. He highlighted the potential of existing ore bodies and the goal to further enhance the company’s value without making drastic changes if the current strategy is effective.

Q: How does Harmony Gold plan to balance shareholder returns with capital expenditure, particularly with the Eva Copper project? A: Beyers Nel, CEO, stated that shareholder value is seen as a combination of dividends and share price appreciation. The company is focused on the Eva Copper project as a key catalyst and will assess shareholder returns after evaluating the project’s progress.

Q: What are Harmony Gold’s plans regarding mergers and acquisitions (M&A) to fill potential production gaps? A: Beyers Nel, CEO, mentioned that while the company is actively looking at M&A opportunities, they will maintain a disciplined approach to capital allocation, focusing on value rather than volume, especially given the current high gold prices.

Q: Can Harmony Gold increase its underground recovered grades beyond 6.4 g per ton? A: Beyers Nel, CEO, explained that pushing grades higher could affect the sustainability of ore bodies. The company aims to mine at the average grade to maximize long-term value and avoid high grading, which could lead to value destruction.

Q: What is the status of the Wafi-Golpu project, and can its timeline be accelerated? A: Beyers Nel, CEO, noted that the permitting process is ongoing, with a focus on equitable distribution of equity among partners. The project is seen as a long-term asset with significant potential, and the company is committed to progressing it as efficiently as possible.

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

This article first appeared on GuruFocus.

Goliath Resources (GOT.V) was at last look down 3% after it reported Monday gold intercepts at the S

Goliath Resources Limited

Assays Compilation, Interpretation and Modeling For 83 More Holes Are Underway

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Drilling Highlights:

Strong gold mineralization assaying 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 plus a second separate interval assaying 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters, including 14.26 g/t AuEq (13.87 g/t Au and 34.10 g/t Ag) over 3.00 meters have been confirmed in an intrusion related feeder dyke that remains open, strongly indicating close proximity to a large gold-rich intrusive source at depth (Reduced Intrusion Related Gold system, RIRG).
Strong mineralization confirmed in 100% of 243 widespread drill holes containing 300 intercepts to date within 1.8 km2 area where 8 stacked gold veins as well as 5 new stacked gold veins have been identified and confirmed by assays. Confirmation of multiple stacked gold veins and widespread gold rich reduced intrusion feeder dykes within the 1.8 km2 area up to >1.2 km deep that remain open both laterally and to depth, confirms the continuity of the widths and grades at Surebet demonstrating this world class gold system has tremendous additional untapped expansion potential remaining.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/0b6e643d-f07f-42e5-946c-1ff3dc37f658

GD-22-58 intercepted two separate intervals with exceptional gold grades over substantial widths within a reduced intrusion related porphyritic intermediate feeder dyke containing visible gold, bismuth and molybdenum mineralization reminiscent of a RIRG system that remains open:
- 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.
- 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters, including 14.26 g/t AuEq (13.87 g/t Au and 34.10 g/t Ag) over 3.00 meters.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/8be74eae-e539-40a0-8fe3-f97bb0fdf895

Widespread gold-rich RIRG mineralization in mineralized porphyritic dykes has been previously reported in drill holes GD-24-237 which intercepted 10.50 g/t AuEq (10.41 f/t Au and 7.15 g/t Ag) over 7.00 meters, GD-23-180 which intercepted 3.46 g/t AuEq (3.43 g/t Au and 2.68 g/t Ag) over 7.00 meters, and GD-23-226 which intercepted 1.85 g/t AuEq (1.85 g/t Au and 0.00 g/t Ag) over 8 meters.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/63470c45-400d-4a16-8b04-e10e01646567
Continued confirmation of high gold grades in this newly discovered RIRG system characterized by considerable amounts of visible gold, bismuth, and molybdenum mineralization in the felsic to intermediate porphyritic dykes on Surebet as well as in the intrusions surrounding Surebet (i.e. Blue Origin) could greatly increase the resource potential of the Surebet discovery.
Drilling in 2025 will focus on expanding the stacked layers of gold mineralization that remains open in all directions, including to depth and vectoring in on the reduced intrusion indicated at depth believed to be the source for the extensive high-grade gold mineralization on the Surebet discovery currently covering at least 1.8 km2.
GD-24-250 intercepted multiple stacked intervals of strong gold mineralization consisting of quartz-sulphide veining and breccias with visible gold, sphalerite and galena from the Whopper vein, Surebet Zone and Bonanza shear that remain open:
- Whopper Vein: 6.55 g/t AuEq (6.45 g/t Au and 4.08 g/t Ag) over 6.69 meters, including 9.48 g/t AuEq (9.34 g/t Au and 5.33 g/t Ag) over 4.61 meters.
- Surebet Zone: 4.49 g/t AuEq (3.88 g/t Au and 14.44 g/t Ag) over 4.90 meters, including 5.48 g/t AuEq (4.72 g/t Au and 29.92 g/t Ag) over 3.75 meters.
- Bonanza Shear: 11.66 g/t AuEq (11.13 g/t Au and 17.82 g/t Ag) over 5.97 meters, including 17.48 g/t AuEq (16.71 g/t Au and 26.24 g/t Ag) over 3.97 meters.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/4b5f7eb9-693c-46c7-bbaf-904e913d3af4

GD-24-291 intercepted substantial gold mineralization consisting of quartz-sulphide veins and breccia intervals with visible gold, galena, sphalerite and minor chalcopyrite in several stacked intervals corresponding to the Bonanza Shear and the Golden Gate zone that remain open:
- Bonanza Shear: 6.14 g/t AuEq (6.10 g/t Au and 1.50 g/t Ag) over 5.00 meters, including 16.15 g/t AuEq (16.12 g/t Au and 1.24 g/t Ag) over 1.00 meter.
- Bonanza Shear: 2.86 g/t AuEq (2.74 g/t Au and 5.37 g/t Ag) over 6.00 meters, including 8.35 g/t AuEq (8.23 g/t Au and 6.34 g/t Ag) over 1 meter.
- Golden Gate: 6.32 g/t AuEq (6.29 g/t Au and 1.51 g/t Ag) over 6.00 meters, including 9.45 g/t AuEq (9.41 g/t Au and 2.07 g/t Ag) over 4.00 meters.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a3eefe41-11b7-4f32-86d3-987a3abd2b6c

GD-24-263 intercepted 3 stacked gold mineralized zones with quartz-sulphide vein stockwork and breccias with sections of semi-massive to massive sphalerite and galena, as well as visible gold in an interval corresponding to the Bonanza Shear that remain open:
- New stacked Gold Vein: 2.06 g/t AuEq (1.92 g/t Au and 4.01 g/t Ag) over 6.17 meters, including 2.43 g/t AuEq (2.27 g/t Au and 4.57 g/t Ag) over 5.13 meters.
- New stacked Gold Vein: 2.08 g/t AuEq (1.93 g/t Au and 5.76 g/t Ag) over 10.32 meters, including 2.24 g/t AuEq (2.06 g/t Au and 6.78 g/t Ag) over 5.19 meters.
- Bonanza Shear: 8.56 g/t AuEq (8.37 g/t Au and 12.71 g/t Ag) over 6.00 meters, including 10.27 g/t AuEq (10.05 g/t Au and 15.25 g/t Ag) over 5.00 meters, including 12.84 g/t AuEq (12.56 g/t Au and 19.02 g/t Ag) over 4.00 meters.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/8c5c59aa-b4f9-40f6-84ae-6e6d3a40f704

GD-24-290 intercepted exceptional stacked intervals of quart-sulphide veining and breccias in 4 mineralized horizons containing pyrrhotite, sphalerite and galena the deepest of which corresponds to the Bonanza Shear that remains open:
- New stacked Gold Vein: 7.96 g/t AuEq (7.88 g/t Au and 5.52 g/t Ag) over 4.85 meters, including 13.49 g/t AuEq (13.38 g/t Au and 8.87 g/t Ag) over 2.85 meters.
- New stacked Gold Vein: 3.42 g/t AuEq (3.40 g/t Au and 1.44 g/t Ag) over 5.00 meters, including 8.41 g/t AuEq (8.38 g/t Au and 2.88 g/t Ag) over 2.00 meters.
- New stacked Gold Vein: 4.50 g/t AuEq (4.49 g/t Au and 0.84 g/t Ag) over 5.15 meters.
- Bonanza Shear: 4.24 g/t AuEq (4.18 g/t Au and 2.71 g/t Ag) over 4.98 meters.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/49f7b451-444c-4f59-a570-974285be6b3d
GD-24-241 intercepted an excellent interval of quartz-sulphide veining containing visible gold, sphalerite and galena corresponding to the Bonanza Shear that remains open:
- Bonanza Shear: 3.00 g/t AuEq (2.72 g/t Au and 7.67 g/t Ag) over 15.00 meters, including 3.65 g/t AuEq (3.27 g/t Au and 10.20 g/t Ag) over 11.00 meters, including 4.22 g/t AuEq (3.83 g/t Au and 11.46 g/t Ag) over 8.00 meters.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/e1558a6a-11a5-4217-aee6-5d279f914c9f

With only 15 months of boots on the ground, the strong mineralization consistently observed in 100% of all 243 drill holes collared within a 1.8 km2 area to date clearly demonstrates the continuity and predictability of this extensive mineralizing system that remains open in all directions providing for excellent additional discovery and expansion potential.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/b10a6744-9a1a-4bf3-a03d-b45d3f26f954

100% of 243 widespread holes drilled on Surebet intersected the targeted mineralized zones in 300 intercepts, 106 of which intersected visible gold including the 64 holes drilled in 2024 which intercepted significant mineralization with 92% of the holes (or 59 out of 64 holes) containing visible gold, demonstrating the excellent continuity and predictability of this extensive high-grade world class gold discovery that remains wide open.
Metallurgical testing has shown exceptional gold recoveries of 92.2% from gravity and floatation requiring only a 327 micrometer crush, with 48.8% occurring as free gold; no cyanide required to recover the gold.
Assays compilation, interpretation and modeling are currently underway for an additional 83 holes and will be announced shortly: 45 drilled in 2024 (38 or 84% have visible and or abundant visible gold), 12 drilled into the Reduced Intrusive Dykes 2021-2023 (5 or 42% have visible and or abundant visible gold), 14 relogged shoulders 2021 – 2023 (3 or 21% have visible and or abundant visible gold) and 12 from VMS style mineralization at Treasure Island 40 km to the north of Surebet.

TORONTO, Feb. 10, 2025 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report exceptional gold intercepts of 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 plus a second separate interval assaying 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters, including 14.26 g/t AuEq (13.87 g/t Au and 34.10 g/t Ag) over 3.00 both from a high-grade gold intrusive feeder dyke that remains open at Surebet on its 100% controlled Golddigger Property (the “Property”), Golden Triangle, B.C. This excellent interval clearly indicates close proximity to a large feeder source at depth believed to be a Reduced Intrusion Related Gold system (RIRG). In addition, initial assays compiled/modeled for 5 additional drill holes from the successful 2024 drill program intersected excellent gold grades up to 11.66 g/t AuEq (11.13 g/t Au and 17.82 g/t Ag) over 5.97 meter in the shear hosted veins at Surebet, clearly demonstrating minable widths and grades and exceptional continuity and predictability of this large expanding world-class gold discovery that remains wide open both laterally and to depth with tremendous untapped discovery potential remaining.

Assays compilation, interpretation and modeling are currently underway for an additional 83 holes and will be announced shortly: 45 drilled in 2024 (38 or 84% have visible and or abundant visible gold), 12 drilled into the Reduced Intrusive Dykes 2021-2023 (5 or 42% have visible and or abundant visible gold), 14 relogged shoulders 2021 – 2023 (3 or 21% have visible and or abundant visible gold) and 12 from VMS style mineralization at Treasure Island 40 km to the north of Surebet.

GD-22-58 intercepted two separate intervals with exceptional gold grades over substantial widths within a reduced intrusion related porphyritic intermediate feeder dyke that remains open containing visible gold, bismuth and molybdenum mineralization reminiscent of a RIRG system at depth:
- 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.
- 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters, including 14.26 g/t AuEq (13.87 g/t Au and 34.10 g/t Ag) over 3.00 meters.

Roger Rosmus, Founder and CEO of Goliath Resources, states: “We are excited to see such high-grade gold mineralization in the RIRG feeder dykes as well as the consistent continuity and predictability of the high-grade gold mineralization in multiple stacked veins similar to those seen in the world-class >10 Moz high-grade underground Pogo gold mine. Based on 100% hit rate in 243 widespread holes with 300 intercepts drilled to date within the 1.8 km2 area of Surebet we look forward to moving into a low-risk expansion and infill drilling phase in 2025. We look forward to reporting additional assays from 83 holes remaining once compiled, interpreted and modelled with a planned updated model before the end of the month confirming the scale and geometry of this world-class gold discovery that remains wide open. Based on the extensive dataset and understanding we are certainly on track to expand this bonanza grade discovery both laterally and to depth targeting the existing and new high-grade layers and ultimately the source of the extensive gold system. The serious interest already garnered from multiple miners and institutions alike clearly demonstrates a world-class discovery like Surebet is an extremely rare opportunity. We look forward to unlocking its full value for all of our stakeholders.”

Gold-rich RIRG mineralization in multiple mineralized porphyritic dykes has been previously reported in drill holes GD-24-237 which intercepted 10.50 g/t AuEq (10.41 f/t Au and 7.15 g/t Ag) over 7.00 meters, GD-23-180 which intercepted 3.46 g/t AuEq (3.43 g/t Au and 2.68 g/t Ag) over 7.00 meters, and GD-23-226 which intercepted 1.85 g/t AuEq (1.85 g/t Au and 0.00 g/t Ag) over 8 meters (released on December 12, 2024).

Strong mineralization has been confirmed in 243 drill holes containing 300 intercepts that intersected the 8 known stacked mineralized gold veins as well as the reduced intrusion feeder dykes within the 1.8 km2 area and over 1.2 km deep that remains open laterally and to depth, clearly showing the exceptional continuity of widths and grades at Surebet. Continued confirmation of high gold grades in this newly discovered RIRG system characterized by considerable amounts of visible gold, bismuth, and molybdenum mineralization in the felsic to intermediate porphyritic dykes on Surebet as well as in the intrusions surrounding Surebet could greatly increase the resource potential of the Surebet discovery.

Drilling in 2025 will focus on expanding the mineralization in all directions, including to depth vectoring in on the reduced intrusion indicated source for the extensive high-grade gold mineralization on the world-class Surebet discovery.

With only 15 months of boots on the ground, the strong mineralization consistently observed in 100% of all 243 drill holes with 300 intercepts collared within a 1.8 km2 area to date clearly demonstrates the continuity and predictability of this extensive mineralizing system that remains open in all directions providing for excellent additional discovery and expansion potential. All 64 holes drilled in 2024 have intercepted significant mineralization with 92% of the holes (or 59 out of 64 holes) containing occurrences of visible gold, demonstrating the excellent continuity of this extensive high-grade gold system that remains wide open in all directions.

GD-24-250 intercepted multiple stacked intervals of strong gold mineralization consisting of quartz-sulphide veining and breccias with visible gold, sphalerite and galena from the Whopper vein, Surebet Zone and Bonanza shear that remain open:
- Whopper Vein: 6.55 g/t AuEq (6.45 g/t Au and 4.08 g/t Ag) over 6.69 meters, including 9.48 g/t AuEq (9.34 g/t Au and 5.33 g/t Ag) over 4.61 meters.
- Surebet Zone: 4.49 g/t AuEq (3.88 g/t Au and 14.44 g/t Ag) over 4.90 meters, including 5.48 g/t AuEq (4.72 g/t Au and 29.92 g/t Ag) over 3.75 meters.
- Bonanza Shear: 11.66 g/t AuEq (11.13 g/t Au and 17.82 g/t Ag) over 5.97 meters, including 17.48 g/t AuEq (16.71 g/t Au and 26.24 g/t Ag) over 3.97 meters.
GD-24-291 intercepted substantial gold mineralization consisting of stacked quartz-sulphide veins and breccia intervals with visible gold, galena, sphalerite and minor chalcopyrite in several intervals corresponding to the Bonanza Shear and the Golden Gate zone that remain open:
- Bonanza Shear: 6.14 g/t AuEq (6.10 g/t Au and 1.50 g/t Ag) over 5.00 meters, including 16.15 g/t AuEq (16.12 g/t Au and 1.24 g/t Ag) over 1.00 meter.
- Bonanza Shear: 2.86 g/t AuEq (2.74 g/t Au and 5.37 g/t Ag) over 6.00 meters, including 8.35 g/t AuEq (8.23 g/t Au and 6.34 g/t Ag) over 1 meter.
- Golden Gate: 6.32 g/t AuEq (6.29 g/t Au and 1.51 g/t Ag) over 6.00 meters, including 9.45 g/t AuEq (9.41 g/t Au and 2.07 g/t Ag) over 4.00 meters.
GD-24-263 intercepted 3 stacked gold mineralized zones with quartz-sulphide vein stockwork and breccias with sections of semi-massive to massive sphalerite and galena, as well as visible gold in an interval corresponding to the Bonanza Shear that remain open:
- New Stacked Gold Vein: 2.06 g/t AuEq (1.92 g/t Au and 4.01 g/t Ag) over 6.17 meters, including 2.43 g/t AuEq (2.27 g/t Au and 4.57 g/t Ag) over 5.13 meters.
- New Stacked Gold Vein: 2.08 g/t AuEq (1.93 g/t Au and 5.76 g/t Ag) over 10.32 meters, including 2.24 g/t AuEq (2.06 g/t Au and 6.78 g/t Ag) over 5.19 meters.
- Bonanza Shear: 8.56 g/t AuEq (8.37 g/t Au and 12.71 g/t Ag) over 6.00 meters, including 10.27 g/t AuEq (10.05 g/t Au and 15.25 g/t Ag) over 5.00 meters, including 12.84 g/t AuEq (12.56 g/t Au and 19.02 g/t Ag) over 4.00 meters.
GD-24-290 intercepted exceptional intervals of stacked quartz-sulphide gold veining and breccias in 4 mineralized horizons containing pyrrhotite, sphalerite and galena the deepest of which corresponds to the Bonanza Shear that remains open:
- New Stacked Gold Vein: 7.96 g/t AuEq (7.88 g/t Au and 5.52 g/t Ag) over 4.85 meters, including 13.49 g/t AuEq (13.38 g/t Au and 8.87 g/t Ag) over 2.85 meters.
- New Stacked Gold Vein: 3.42 g/t AuEq (3.40 g/t Au and 1.44 g/t Ag) over 5.00 meters, including 8.41 g/t AuEq (8.38 g/t Au and 2.88 g/t Ag) over 2.00 meters.
- New Stacked Gold Vein: 4.50 g/t AuEq (4.49 g/t Au and 0.84 g/t Ag) over 5.15 meters.
- Bonanza Shear: 4.24 g/t AuEq (4.18 g/t Au and 2.71 g/t Ag) over 4.98 meters.
GD-24-241 intercepted an excellent interval of quartz-sulphide veining containing visible gold, sphalerite and galena corresponding to the Bonanza Shear that remains open:
- Bonanza Shear: 3.00 g/t AuEq (2.72 g/t Au and 7.67 g/t Ag) over 15.00 meters, including 3.65 g/t AuEq (3.27 g/t Au and 10.20 g/t Ag) over 11.00 meters, including 4.22 g/t AuEq (3.83 g/t Au and 11.46 g/t Ag) over 8.00 meters.

Table 1: Highlights for drill holes reported in this news release.

Hole ID	Zone		From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)	Cu (%)	Pb (%)	Zn (%)	AuEq (g/t)
GD-22-58	Dyke	Interval	220.00	230.00	10.00	11.84	15.61	0.00	0.01	0.02	12.03
		Including	224.00	230.00	6.00	19.62	25.61	0.00	0.01	0.02	19.91
		Including	225.00	230.00	5.00	23.47	30.54	0.00	0.01	0.02	23.82
	Dyke	Interval	244.00	249.00	5.00	8.35	20.74	0.00	0.01	0.02	8.59
	Dyke	Including	245.00	248.00	3.00	13.87	34.10	0.00	0.01	0.02	14.26
GD-24-241	Bonanza	Interval	554.00	569.00	15.00	2.72	7.67	0.01	0.17	0.49	3.00
		Including	558.00	569.00	11.00	3.27	10.20	0.02	0.23	0.65	3.65
		Including	558.00	566.00	8.00	3.83	11.46	0.02	0.30	0.59	4.22
GD-24-263	NEW	Interval	342.06	348.23	6.17	1.92	4.01	0.01	0.05	0.23	2.06
	NEW	Including	343.10	348.23	5.13	2.27	4.57	0.01	0.05	0.28	2.43
	NEW	Interval	520.25	530.57	10.32	1.93	5.76	0.01	0.04	0.22	2.08
	NEW	Including	520.25	525.44	5.19	2.06	6.78	0.01	0.06	0.27	2.24
	Bonanza	Interval	634.00	640.00	6.00	8.37	12.71	0.03	0.03	0.05	8.56
		Including	635.00	640.00	5.00	10.05	15.25	0.03	0.03	0.06	10.27
		Including	636.00	640.00	4.00	12.56	19.02	0.04	0.04	0.07	12.84
GD-24-250	Whopper	Interval	287.85	294.54	6.69	6.45	4.08	0.01	0.04	0.15	6.55
	Whopper	Including	288.92	293.53	4.61	9.34	5.33	0.01	0.05	0.21	9.48
	Surebet	Interval	440.50	445.40	4.90	3.88	24.44	0.04	0.53	0.60	4.49
	Surebet	Including	440.50	444.25	3.75	4.72	29.92	0.04	0.68	0.75	5.48
	Bonanza	Interval	598.55	604.52	5.97	11.13	17.82	0.06	0.60	0.42	11.66
	Bonanza	Including	599.58	603.55	3.97	16.71	26.24	0.09	0.90	0.61	17.48
GD-24-290	NEW	Interval	42.15	47.00	4.85	7.88	5.52	0.01	0.00	0.01	7.96
	NEW	Including	42.15	45.00	2.85	13.38	8.87	0.01	0.00	0.02	13.49
	NEW	Interval	57.00	62.00	5.00	3.40	1.44	0.00	0.00	0.01	3.42
	NEW	Including	58.00	60.00	2.00	8.38	2.88	0.00	0.00	0.01	8.41
	NEW	Interval	105.00	110.15	5.15	4.49	0.84	0.00	0.00	0.01	4.50
	Bonanza	Interval	235.37	240.35	4.98	4.18	2.71	0.00	0.02	0.06	4.24
GD-24-291	Bonanza	Interval	29.00	34.00	5.00	6.10	1.50	0.01	0.00	0.05	6.14
	Bonanza	Including	29.00	30.00	1.00	16.12	1.24	0.01	0.00	0.03	16.15
	Bonanza	Interval	44.00	50.00	6.00	2.74	5.37	0.01	0.08	0.13	2.86
	Bonanza	Including	49.00	50.00	1.00	8.23	6.34	0.01	0.04	0.08	8.35
	Golden Gate	Interval	181.00	187.00	6.00	6.29	1.51	0.01	0.01	0.03	6.32
	Golden Gate	Including	182.00	186.00	4.00	9.41	2.07	0.01	0.01	0.03	9.45

The continuity and predictability of the newly expanded thick gold Bonanza High Grade Gold zone has previously been drill tested where GD-23-197 assayed 34.03 g/t AuEq (1.09 oz/t AuEq) over 9 meters (released October 17, 2023), GD-24-235 assayed 35.04 g/t AuEq (1.13 oz/t AuEq) over 5.25 meters (released July 30, 2024), GD-24-249 assayed 30.55 g/t AuEq (0.98 oz/t AuEq) over 8.95 meters (released December 12, 2024), and GD-24-260 assayed 132.93 g/t AuEq (4.27 oz/t AuEq) over 10.00 meters (released January 13, 2025). The new Bonanza High-Grade Zone outcrops on the surface 200 meters above the valley floor at an elevation of 900 meters above sea level.

The Bonanza High-Grade Gold Zone remains open in all directions, including to depth, where the new Deep Zone was discovered at 1,239 meters downhole from the Bang On Pad and 480 meters below the valley floor level. This zone contains multiple quartz-sulphide veins and breccias with chalcopyrite, galena and sphalerite demonstrating the tremendous additional untapped discovery potential of the Surebet system that remains wide open. The mineralized zones contain significant amounts of chalcopyrite, galena and sphalerite and remains wide open. Assays for all holes that intersected the new Deep Zone are pending.

The Company looks forward to continuing to expand the mineralization at Surebet and increase the understanding of the geometry and controls of the mineralization with additional modelling as results become available in the immediate future. The discovery of the RIRG mineralization clearly indicates proximity to the source of this extensive mineralizing system. Drilling in 2025 will focus on expanding the mineralization in all directions, including to depth towards the indicated source for the fluids responsible for the extensive high-grade gold-silver mineralization on the world-class Surebet discovery.

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-24-241	NAD83 / UTM zone 9N	457446	6162777	1511	140	60	738
GD-24-250	NAD83 / UTM zone 9N	457365	6162754	1507	178	55	638
GD-24-263	NAD83 / UTM zone 9N	457060	6163027	1655	155	71	758
GD-24-290	NAD83 / UTM zone 9N	457881	6162620	1175	228	73	312
GD-24-291	NAD83 / UTM zone 9N	457702	6162436	1132	120	65	378
GD-22-58	NAD83 / UTM zone 9N	457512	6163073	1656	120	55	399

Golddigger Property

The Surebet discovery has exceptional continuity and excellent metallurgy with gold recoveries of 92.2% with 48.8% of it as free gold from gravity alone at a 327-micrometer crush (no cyanide required to recover the gold). The metallurgy completed to date shows NO deleterious elements are present such as mercury or arsenic.

About CASERM (Center To Advance The Science Of Exploration To Reclamation In Mining)

Qualified Person

About Goliath Resources Limited

Goliath Resources is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. All of its projects are in world class 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’s key strategic cornerstone shareholders include Crescat Capital, Mr. Rob McEwen and Mr. Eric Sprott, Mr. Larry Childress and a Global Commodity Group based in Singapore.

For more information please contact:

Goliath Resources Limited Mr. Roger Rosmus Founder and CEO Tel: +1.416.488.2887roger@goliathresources.com www.goliathresourcesltd.com

Other

Portable XRF (X-Ray Fluorescence) readings are semi-quantitative measurements and calibrations of the equipment in the field not always allow to compare results to certified reference materials but are used as guideline to augment the understanding of the mineralization observed. These measurements are not intended to be representative of the geochemical composition of the material measured. XRF readings are carried out using a handheld device and could be influenced by external factors.

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 2017-2022 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration are 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. Standards, blanks and duplicates were added in the sample stream at a rate of 10%.

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.

A Relative Strength Rating upgrade for Gold Field ADR shows improving technical performance. Will it continue?

We recently compiled a list of the 10 Firms Shine Amid Market Slump. In this article, we are going to take a look at where Harmony Gold Mining Company Ltd. (NYSE:HMY) stands against the other stocks.

Ten companies kicked off this week's trading on a positive note, defying a broader market pessimism amid growing trade tensions among the US, Mexico, China, and Canada over the retaliation of tariffs on each other's goods.

On Monday, the Dow Jones lost another 0.28 percent, while the S&P 500 and the Nasdaq Composite both registered steep declines of 0.76 percent and 1.20 percent, respectively. The slump came following President Donald Trump's announcements that he would slap a 25-percent tariff on Canadian and Mexican goods, while a special 60-percent rate would be taxed on Chinese products.

Ten companies under mixed sectors defied a broader market downturn, leading the charge among market advancers. In this article, we will examine which companies performed well and the factors driving their success.

The list of top advancers only considered the companies with at least $2 billion in market capitalization and $5 million in daily trading volume.

Is Harmony Gold (HMY) Close Shortened Trading Week Higher?

An open pit mine with heavy excavation machinery toiling away against the backdrop of a hidden valley.

Harmony Gold Mining Company Ltd. (NYSE:HMY)

Shares of Harmony Gold Mining Company Ltd. rose by 4.7 percent on Monday to finish at $11.8 apiece as investor sentiment was fueled by news that it was on track to surpass its annual gold production target of 1.5 million ounces, despite booking lower output for the first half of the financial year.

Harmony, the largest gold producer in South Africa, said in a recent trading update that gold production for the six months ending December 2024 was expected to settle between 790,000 ounces to 805,000 ounces. The figures, however, marked a decline from the 832,349 ounces produced in the same period a year earlier mainly due to planned lower output from its South African underground mines and Hidden Valley in Papua New Guinea.

However, South African underground recovered grades are expected to be higher than the projected 5.80 grams per ton, on the back of a strong performance from Mponeng, the world’s deepest mine.

Overall HMY ranks 9th on our list of the stocks that shone amid market slump. While we acknowledge the potential of HMY as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than HMY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

Disclosure: None. This article is originally published at Insider Monkey.

VANCOUVER, BC, Jan. 31, 2025 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") reports the following updated share capital and voting rights, in accordance with the Swedish Financial Instruments Trading Act:

The number of issued and outstanding shares of the Company has increased by 93,674,455 to 867,777,426 common shares with voting rights as of January 31, 2025. The increase in the number of issued and outstanding shares from January 1, 2025 to date is the result of shares issued in connection with the Filo Corp. acquisition (see press release dated January 15, 2025 entitled "Lundin Mining Completes Joint Acquisition of Filo with BHP and 50% Sale of Josemaria to Form Vicuña Corp."), and the exercise of employee stock options or the vesting of employee share units, offset by any share buy backs completed under the normal course issuer bid.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with operations or projects in Argentina, Brazil, Chile, and the United States of America, primarily producing copper, gold and nickel. In December 2024 the Company announced the sale of its European assets to Boliden. The transaction is expected to close in mid-2025 subject to customary conditions and regulatory approvals.

The information in this release is subject to the disclosure requirements of Lundin Mining under the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out below on January 31, 2025 at 14:30 Pacific Time.

Lundin Mining Announces Updated Share Capital and Voting Rights (CNW Group/Lundin Mining Corporation)

SOURCE Lundin Mining Corporation

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2025/31/c8898.html

Goliath Resources Limited

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Drilling Highlights – Golddigger Property:

GD-24-260 intercepted the highest concentration of visible gold and its best high-grade gold drill hole to date at the Surebet Discovery from the Bonanza High-Grade Gold Zone that sits ~200 meters above the valley floor level. Mineralization is within a vein-hosted band of semi-massive pyrrhotite, where the gold occurs in alloys with silver, bismuth and tellurium. Mineralization was also intercepted in the Surebet Zone that sits above Bonanza; both remain wide open:
- Bonanza Zone: 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.
- Surebet Zone: 5.51 g/t AuEq (5.39 g/t Au and 9.82 g/t Ag) over 3.40 meters within 2.96 g/t AuEq (2.89 g/t Au and 5.46 g/t Ag) over 6.35 meters.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/eb38ca1d-43bd-4fc2-8f50-7b6c704e35c9
GD-24-275 intercepted two separate stacked veins of high-grade gold, silver and base metals corresponding to the Surebet and Bonanza Zones characterized by sulphide rich quartz breccia; both remain wide open:
- Surebet Zone: 5.00 g/t AuEq (4.88 g/t Au and 9.94 g/t Ag) over 6.00 meters, including 6.67 g/t AuEq (6.60 g/t Au and 13.07 g/t Ag) over 4.42 meters.
- Bonanza Zone: 12.01 g/t AuEq (11.70 g/t Au and 25.66 g/t Ag) over 11.00 meters including 16.48 g/t AuEq (16.05 g/t Au and 35.03 g/t Ag) over 8.00 meters.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/12bcd537-981a-44e9-abdd-f186337f73eb

GD-24-252 intercepted two separate stacked veins of high-grade gold, silver and base metals corresponding to the Bonanza and Golden Gate Zones characterized by sulphide rich quartz breccia; both zones remain open:
- Bonanza Zone: 5.25 g/t AuEq (5.13 g/t Au and 9.46 g/t Ag) over 10.97 m, including 5.74 g/t AuEq (5.61 g/t Au and 10.23 g/t Ag) over 8.95 meters.
- Golden Gate: 3.99 g/t AuEq (3.94 g/t Au and 4.46 g/t Ag) over 5.00 meters.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/51d59aa0-2888-4b67-9e54-f712c96052ad

GD-24-242 intercepted three separate stacked veins of high-grade gold, silver and base metals corresponding to the Surebet and Golden Gate Zones characterized by sulphide rich quartz breccia; all three zones remain open:
- Surebet Zone: 5.08 g/t AuEq (4.99 g/t Au and 7.29 g/t Ag) over 10.85 meters, including 8.41 g/t AuEq (8.26 g/t Au and 12.35 g/t Ag) over 5.46 meters.
- Bonanza Zone: 2.11 g/t AuEq (2.09 g/t Au and 1.71 g/t Ag) over 2.19 meters, within 1.11 g/t AuEq (1.10 g/t Au and 1.21 g/t Ag) over 5 meters.
- Golden Gate: 5.56 g/t AuEq (5.26 g/t Au and 24.61 g/t Ag) over 4.11 meters.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/d698cd93-3d8a-42f1-8d5c-a74f33684108

With only 3 months of drilling in 2024 and the strong gold mineralization observed in multiple drill holes the size of the known Bonanza High-Grade Gold Zone has been nearly doubled from an area 180,000 m2 (720 x 612 x 410 meter triangular area) to 341,000 m2 (835 x 685 x 612 x 410 meter polygon area) that remains wide open.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a4be8477-eeab-4c21-ad24-2a7bdb0f46d5
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a51748bf-69f5-4ffb-b6d2-b425973b92fa

100 % of 243 holes drilled at the Surebet Discovery intersected the targeted mineralized zones, of which 106 intersected visible gold and/or abundant visible gold including coarse-grained visible gold. This includes 64 holes drilled in 2024 which intercepted significant mineralization with 92% of the holes (or 59 out of 64 holes) containing visible gold and/or abundant visible gold including coarse-grained visible gold, demonstrating the excellent continuity and predictability of this extensive high-grade world class gold discovery that remains wide open.
Assays are still pending on 89 of 105 holes (85%): 50 drilled in 2024 (42 have visible and/or abundant visible gold including coarse-grained visible gold), 13 drilled into the Reduced Intrusive Dykes 2021-2023 (6 have visible and/or abundant visible gold), 14 relogged shoulders 2021 – 2023 (3 have visible and/or abundant visible gold) and 12 drilled into volcanogenic massive sulphide (VMS) style mineralization at our newly discovered Treasure Island, 40 km to the north of the Surebet system.
An extensive trend of abundant visible gold distribution has been observed in multiple stacked veins in the sediments, at the contact of the sediments and volcanics, as well as in the volcanics. High in the system the visible gold is sporadic and fine-grained, then there is a transition to fine-grained abundant visible gold and coarse-grained visible gold as drilling has gone deeper into the gold mineralizing system. Visible gold is hosted within quartz-veins and quartz-breccias observed in all the rock packages, including the reduced intrusion related zones.
Metallurgical testing has shown exceptional gold recoveries of 92.2% from gravity and floatation requiring only a 327 micrometer crush, with 48.8% occurring as free gold; no deleterious elements detected, and no cyanide required to recover the gold.

TORONTO, Jan. 13, 2025 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report additional drill results for 5 drill holes from its successful 2024 field season at its 100% controlled Golddigger Property (the “Property”), Golden Triangle, B.C. Excellent results from drill holes GD-24-260, GD-24-275, GD-24-252, and GD-24-242 clearly confirm the increase of mineralization within the Bonanza High-Grade Gold Zone which was expanded from 180,000 m2 (720 x 612 x 410 meter triangular area) to 341,000 m2 (835 x 685 x 612 x 410 meter polygon area) and remains wide open. High-grade gold mineralization with excellent continuity and predictability has also been confirmed in the Surebet and Golden Gate Zones, all of which remain wide open. Assays are still pending for a total of 89 out of 105 drill holes that are expected to be released in the immediate future once received, compiled and interpreted.

Dr. Quinton Hennigh, Technical Advisor of Goliath Resources, states: “Drill intercepts from the Bonanza Shear Zone continue to generate remarkable gold values that strongly indicate this important structural zone is a likely feeder to the overall Surebet gold system. While other larger structures such as the Surebet Shear and the Golden Gate Zone are important, and should in no way be discounted, the Bonanza Shear is living up to its namesake. Not only are exceptional gold grades present, but the Bonanza lode, a relatively flat-oriented structure, displays robust thicknesses. Given the numerous drill intercepts that have penetrated this lode to date, it is clearly expansive, too, measuring at least 800 meters along strike and 600 meters down dip. Many assays from these holes will be returning over the coming weeks, but already, it is clear that Goliath needs to carry out a systematic drill campaign in 2025 to test this entire area as well as for extensions of the system as it remains open. We now have supporting evidence that gold in the Surebet system is likely fed by a gold-rich reduced intrusion. Goliath now needs to fully explore the Bonanza Zone, as well as each and every gold-bearing structure that is encountered in order to determine where all the fluids that emanated from this intrusion carried and deposited high-grade gold. Goliath is clearly on the right track.”

Roger Rosmus, Founder and CEO of Goliath Resources, states: “The more we drill, the bigger and higher grade the Surebet system gets. This has been clearly demonstrated by 100% of the holes drilled intercepting targeted zones or multiple stacked veins of mineralization, of which 92% contained visible gold and or abundant visible gold including coarse-grained visible gold as seen in GD-24-260 drilled this year. It’s our best ever Bonanza grade drill hole to date that reminds of the original drill holes from Eskay Creek & Aurelian Resources with our exceptional 39.00 meter intercept of 34.52 g/t AuEq (1.11 oz/T AuEq). We look forward to outlining the full extent of this world-class discovery with future drilling as it remains wide open in all directions. We firmly believe what has been found to date is only a tip of the iceberg. The feeder-source to this extensive high-grade system is indicated to be a reduced intrusion which would be a significant material addition to the potential scale and geometry of the Surebet Discovery. This new gold system continues to exceed our expectations based on the shear size and area containing multiple stacked high-grade veins like a layer cake, including the newly discovered mineralized veins containing visible gold 480 meters below the valley floor level that remains wide open. The system continues to deliver exceptional results consistent with the characteristics of a district scale Tier 1 high-grade gold asset. We are also very keen to report assays from our maiden drill program from the high-grade Treasure Island volcanogenic massive sulphide (VMS) style discovery included in the 89 remaining holes as they become available in the near future.”

During the 3 months drill season in 2024, the area of high-grade gold mineralization within the known Bonanza Zone (formerly described as the Bonanza High-Grade Gold Triangle) has been expanded and nearly doubled from a triangular area measuring 720 x 612 x 410 meters to a polygon area measuring 835 x 685 x 612 x 410 meters that remains wide open. All 64 holes drilled in 2024 have intercepted significant mineralization with 92% of the holes (or 59 out of 64 holes) containing occurrences of visible gold and/or abundant visible gold including coarse-grained visible gold, demonstrating the excellent continuity and predictability of this extensive high-grade gold system that remains wide open in all directions.

GD-24-260 intercepted the highest concentration of visible gold and it is the best ever high-grade gold drill hole to date at the Surebet Discovery from the Bonanza High-Grade Gold Zone that sits ~200 meters above the valley floor level. Mineralization is within a vein-hosted band of semi-massive pyrrhotite, where the gold occurs in alloys with silver, bismuth and tellurium. Mineralization was also intercepted in the Surebet Zone that sits above Bonanza; both remain wide open:
- Bonanza Zone: 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.
- Surebet Zone: 5.51 g/t AuEq (5.39 g/t Au and 9.82 g/t Ag) over 3.40 meters within 2.96 g/t AuEq (2.89 g/t Au and 5.46 g/t Ag) over 6.35 meters.
GD-24-275 intercepted two separate stacked veins of high-grade gold, silver and base metals corresponding to the Surebet and Bonanza Zones characterized by sulphide rich quartz breccia; both remain wide open:
- Surebet Zone: 5.00 g/t AuEq (4.88 g/t Au and 9.94 g/t Ag) over 6.00 meters, including 6.67 g/t AuEq (6.60 g/t Au and 13.07 g/t Ag) over 4.42 meters.
- Bonanza Zone: 12.01 g/t AuEq (11.70 g/t Au and 25.66 g/t Ag) over 11.00 meters including 16.48 g/t AuEq (16.05 g/t Au and 35.03 g/t Ag) over 8.00 meters.
GD-24-252 intercepted two separate stacked veins of high-grade gold, silver and base metals corresponding to the Bonanza and Golden Gate Zones characterized by sulphide rich quartz breccia; both zones remain wide open:
- Bonanza Zone: 5.25 g/t AuEq (5.13 g/t Au and 9.46 g/t Ag) over 10.97 m, including 5.74 g/t AuEq (5.61 g/t Au and 10.23 g/t Ag) over 8.95 meters.
- Golden Gate: 3.99 g/t AuEq (3.94 g/t Au and 4.46 g/t Ag) over 5.00 meters.
GD-24-242 intercepted three separate stacked veins of high-grade gold, silver and base metals corresponding to the Surebet and Golden Gate Zones characterized by sulphide rich quartz breccia; all three zones remain open:
- Surebet Zone: 5.08 g/t AuEq (4.99 g/t Au and 7.29 g/t Ag) over 10.85 meters, including 8.41 g/t AuEq (8.26 g/t Au and 12.35 g/t Ag) over 5.46 meters.
- Bonanza Zone: 2.11 g/t AuEq (2.09 g/t Au and 1.71 g/t Ag) over 2.19 meters, within 1.11 g/t AuEq (1.10 g/t Au and 1.21 g/t Ag) over 5 meters.
- Golden Gate: 5.56 g/t AuEq (5.26 g/t Au and 24.61 g/t Ag) over 4.11 meters.

Table 1: Highlights for drill holes reported in this news release.

Hole ID	Zone		From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)	Cu (%)	Pb (%)	Zn (%)	AuEq (g/t)
GD-24-260	Surebet	Interval	434.00	440.35	6.35	2.89	5.46	0.01	0.14	0.06	2.96
		Including	435.86	439.26	3.40	5.39	9.82	0.02	0.25	0.11	5.51
		Including	435.86	438.25	2.39	7.60	13.29	0.02	0.35	0.14	7.76
		Including	437.32	438.25	0.93	17.42	23.07	0.02	0.61	0.31	17.71
	Bonanza	Interval	517.00	556.00	39.00	34.47	3.96	0.00	0.02	0.04	34.52
		Including	534.00	544.00	10.00	132.78	12.98	0.00	0.04	0.11	132.94
		Including	535.00	543.00	8.00	165.84	16.07	0.01	0.05	0.13	166.04
GD-24-275	Surebet	Interval	288.00	294.00	6.00	4.88	9.94	0.01	0.02	0.34	5.00
		Including	289.58	294.00	4.42	6.60	13.07	0.01	0.03	0.44	6.76
		Including	289.58	293.00	3.42	8.50	16.71	0.02	0.04	0.56	8.71
	Bonanza	Interval	428.00	439.00	11.00	11.70	25.66	0.05	0.69	0.63	12.01
		Including	430.00	438.00	8.00	16.05	35.03	0.07	0.94	0.87	16.48
		Including	431.00	436.90	5.90	21.60	46.86	0.09	1.27	1.15	22.18
GD-24-252	Bonanza	Interval	433.92	452.10	18.18	3.26	8.56	0.02	0.17	0.29	3.36
		Including	435.95	451.10	15.15	3.89	10.13	0.03	0.20	0.34	4.01
		Including	440.13	451.10	10.97	5.13	9.46	0.02	0.20	0.28	5.25
		Including	442.15	451.10	8.95	5.61	10.23	0.02	0.23	0.32	5.74
	Golden Gate	Interval	530.04	538.00	7.96	2.48	2.97	0.01	0.02	0.36	2.51
	Golden Gate	Including	532.00	537.00	5.00	3.94	4.46	0.01	0.04	0.57	3.99
GD-24-242	Surebet	Interval	328.00	342.00	14.00	4.03	7.22	0.01	0.06	0.11	4.12
		Including	331.15	342.00	10.85	4.99	7.29	0.01	0.07	0.13	5.08
		Including	331.15	336.61	5.46	8.26	12.35	0.01	0.13	0.17	8.41
	Bonanza	Interval	443.00	448.00	5.00	1.10	1.21	0.01	0.01	0.09	1.11
	Golden Gate	Interval	582.00	586.11	4.11	5.26	24.61	0.03	0.20	2.38	5.56
GD-24-280	Bonanza	Interval	148.00	151.00	3.00	0.91	0.72	0.00	0.00	0.01	0.92

The continuity and predictability of this newly expanded thick high-grade gold horizon has previously been drill tested where GD-23-197 assayed 34.03 g/t AuEq (1.09 oz/t AuEq) over 9 meters (released October 17, 2023), GD-24-235 assayed 35.04 g/t AuEq (1.13 oz/t AuEq) over 5.25 meters (released July 30, 2024), GD-24-249 assayed 30.55 g/t AuEq (0.98 oz/t AuEq) over 8.95 meters (released December 12, 2024) and GD-24-262 assayed 13.90 g/t AuEq (13.85 g/t Au and 3.59 g/t Ag) over 7.60 meters (released January 7, 2025). The new Bonanza High-Grade Gold Zone outcrops on the surface 200 meters above the valley floor level at an elevation of 900 meters above sea level.

The Bonanza High-Grade Gold Zone remains open in all directions, including to depth, where the new Deep Zone was discovered at 1,239 meters downhole from the Bang On Pad and only 480 meters below the valley floor level. This zone contains multiple quartz-sulphide veins and breccias with chalcopyrite, galena and sphalerite demonstrating the tremendous additional untapped discovery potential of the Surebet system that remains wide open. The mineralized zones contain significant amounts of chalcopyrite, galena and sphalerite and remains wide open. Assays for all holes that intersected the new Deep Zone are pending.

The Company looks forward to continuing to expand the mineralization at Surebet and increase the understanding of the geometry and controls of the mineralization with additional modelling as results become available in the immediate future. The discovery of the RIRG mineralization (released December 12, 2024) clearly indicates proximity to the source of this extensive mineralizing system. Drilling in 2025 will focus on expanding the mineralization in all directions, including to depth towards the potential source for the fluids responsible for the extensive high-grade gold-silver mineralization on the Surebet discovery.

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

Hole number	CRS	Easting (m)	Northing (m)	Elevation (m)	Azimuth (deg)	Dip (deg)	Length (m)
GD-24-280	NAD83 / UTM zone 9N	457881	6162621	1175	200	55	281
GD-24-275	NAD83 / UTM zone 9N	457365	6162758	1509	135	75	687
GD-24-260	NAD83 / UTM zone 9N	457364	6162753	1503	165	55	619
GD-24-252	NAD83 / UTM zone 9N	457444	6162778	1512	110	80	671
GD-24-242	NAD83 / UTM zone 9N	457447	6162776	1512	120	63	862

Golddigger Property

About CASERM (Center To Advance The Science Of Exploration To Reclamation In Mining)

Goliath is a paying member and active supporter of CASERM, an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech aimed at transforming the way that geoscience data is used in the mineral resource industry. 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. As a CASERM member, the Company requested a study and written report to be performed by Colorado School of Mines analysing Surebet’s origin of mineralization. The study confirmed an extensive intrusive feeder source at depth for the high-grade gold mineralising fluids at Surebet.

Qualified Person

About Goliath Resources Limited

For more information please contact:

Goliath Resources Limited Mr. Roger Rosmus Founder and CEO Tel: +1.416.488.2887roger@goliathresources.com www.goliathresourcesltd.com

Other

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 2017-2022 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration are 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. Standards, blanks and duplicates were added in the sample stream at a rate of 10%.

Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and AuEq metal values are calculated using: Au 2398.13 USD/oz, Ag 28.118 USD/oz, Cu 4.10 USD/lbs, Pb 2067.5 USD/Ton and Zn 2669 USD/Ton on July 28th, 2024. 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.

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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