Goliath Completes Acquisition of Key Mineral Claim Blocks in the Chibougamau-Chapais Region of Quebec’s Prolific Abitibi Greenstone Belt - Seite 2

The Camp hosts east-west trending mafic volcanics or basalts, felsic volcanics or pyroclastics and volcaniclastics, sedimentary rocks and major intrusive complexes, all intruded by gabbro sills and dykes. The sedimentary rocks and gabbros hosts the Nelligan-style of mineralization – one of the potential targets on the Projects. Major faults intersect all rock types and consists of four (4) groups based on their direction: east-west, southeast, northeast and north-northeast trending faults. The east-west trending Guercheville Fault or Deformation Zone, along with its subsidiary faults, cut the Nelligan Projects. The Guercheville is similar to the Larder-Cadillac and Destor-Porcupine Deformation Zone where most of the gold mineralization occurs in the southern portion of the Abitibi Greenstone Belt. It reaches up to 1 km wide and is characterized by shearing and carbonate-sericite-rich alteration.

At the Nelligan Gold Deposit, gold occurs in a series of subparallel alteration zones, up to 200m wide consisting of silica, iron carbonate, potassium and sodium feldspars, iron oxide as hematite, and up to 30% pyrite as disseminations and semi-massive lenses with minor chalcopyrite. Visible gold is rare, and it is found in association with quartz-carbonate veinlets or between pyrite grains. The gold mineralization at the Joe Mann Mine is hosted in sulphide bearing quartz veins and has been mined to a vertical depth of -1,200m along a 2km strike length – the second potential target on the Projects.

Exploration work by Goliath will focus on disseminated and vein style of mineralization for both 1 to 1.5 g/t gold in a bulk mineable scenario, and 5 to 15 g/t gold in a more selective underground mineable scenario.

Please note that the above referenced gold mineralization hosted on nearby projects is not necessarily indicative of the mineralization hosted on the Claims.

2020 Exploration Program

Goliath expects to start its Stage 1 program in Q3-2020 and will include a digital compilation and synthesis of all the historic work on the Nelligan Projects, field reconnaissance work and prospecting, including rock sampling.  A Stage 2 program could be carried out as early as Q4-2020 on any new gold targets generated and may include airborne and/or ground geophysical surveys and diamond drilling.

Qualified Person

Mr. Yvan Bussières, P. Eng., Goliath’s Quebec based mineral exploration consultant reviewed and approved the technical information in this news release. Mr. Bussières is a Qualified Person as defined by National Instrument (“NI”) 43-101 regulations.