Goliath Mobilizes for 24,000 Meter Drill Campaign on Its Extensive High-Grade Gold-Silver Discovery in the Golden Triangle, B.C.

Newly Discovered Surebet Zone Highlights:

• Fully funded 24,000 meter drill campaign totaling 85 holes from 24 separate drill pad locations with four diamond drill rigs.
  
  
• The 2022 campaign will include infill drilling as well as targeting the outer extremities of the known gold- silver zone down-dip to trace the extent of this extensive high grade system that remains open.
  
  
• 100% of all 24 holes drilled during the 2021 maiden campaign totalling 5,332 meters intersected significant widths of high-grade gold-silver mineralization over 1 km of strike and confirmed 1.1 km of down dip extent:
  
  
  • GD-21-03 intersected 6.37 gpt AuEq (4.46 gpt Au and 122.13 gpt Ag) over 35.72 meters*
    
  • The average grade and width from all 24 holes assayed 6.29 gpt AuEq (4.35 gpt Au and 104.94 gpt Ag) over 5.87 meters* respectively.
    
• The Surebet Zone is part of a deep-rooted intrusion-related precious metals system that was formed at significant depth over 5 – 6 km below paleosurface indicating its likely extensive with excellent potential for expansion.
  
  
• Exceptional metallurgical recoveries of 98.2% gold from gravity & flotation, inclusive of 38.1% free gold from gravity.
  
  
• Follow up drilling on the newly discovered Extension Target will provide tremendous potential to significantly expand the footprint by 1.2 km to the southeast.
  
  
  • An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/bb759006-ec90-477e ...
    

TORONTO, May 18, 2022 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report it has mobilized for its planned 24,000 meter diamond drill campaign on its extensive high-grade gold-silver discovery at its 100% controlled Golddigger Project. It is designed for infill drilling as well as testing the outer extremities to depth at the newly discovered Surebet Zone. This new discovery is on tide water in a world class geological setting near Stewart, BC in the Golden Triangle of British Columbia. The Homestake Ridge Deposit & Dolly Varden Silver Mine (Dolly Varden Silver Corp.), and the Kinskuch Project (Hecla Mining Company) are in close proximity.