Goliath Drills 15.8 Meters* of Abundant Visible Gold and Extensive Sulphide-Rich Quartz Breccia Within the Bonanza Shear – Mineralization in 100% of Drill Holes Over 1.8 Square Kilometers and Remains Open

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Drill Highlights:

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TORONTO, Sept. 18, 2023 (GLOBE NEWSWIRE) — Goliath Sources Restricted (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Firm” or “Goliath”) is happy to report drill holes outcomes for GD-23-203 from inside the Bonanza Shear, the contact between the Hazelton Sediments and Volcanics at its 100% managed Golddigger Property (the “Property”), Golden Triangle, B.C.

Gap GD-23-203 collared from Pad 8 inside the Bonanza Shear intersected an in depth mineralized interval composed of sulphide-rich quartz breccia and stockwork from 288.65 to 324.1 meters that included 15.8 meters* of ample Seen Gold from 306.2 to 322 meters. Sulphide mineralization consists of patches, stockworks and disseminated galena (1%), sphalerite (2%), pyrrhotite (2%) and minor chalcopyrite. The mineralized interval is hosted in strongly altered siltstones and the mineralization is noticed in quartz-chlorite veins and veinlets attribute of the deposit fashion noticed inside the Golddigger property. Assays are at present pending.

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Gap GD-23-157 collared from Cliff Pad inside the Golden Gate Feeder Zone (500 m north of Pad A), intercepted Seen Gold mineralization containing 23 meters* of 21.08 g/t AuEq (18.95 g/t Au and 95.31 g/t Ag) together with 14.00 meters* of 33.75 g/t AuEq (30.39 g/t Au and 150.42 g/t Ag) and 9.00 meters* of fifty.27 g/t AuEq (45.27 g/t Au and 225.42 g/t Ag). The opening drilled by way of a sedimentary package deal consisting of interbedded mudstones and sandstones, crosscut by a number of dykes of intermediate composition. A large number of sulfide and gold-rich quartz veins and breccias have been intersected, which have been hosted in altered siltstone attribute of the Surebet Zone. The noticed alteration fashion consists of chloritization in veins and silicification extending from vein margins inside the host rock, persistently with earlier high-grade occurrences from the Surebet Zone. Sulfide mineralization ranges from stockwork to semi-massive pyrrhotite, sphalerite, galena ± chalcopyrite and is especially pronounced from 129 to 131 meters and 136 to 137 meters. The shallowest prevalence of Seen Gold was recognized at 119 meter depth, related to patchy pyrrhotite mineralization. Eleven additional Seen Gold occurrences have been noticed between 129 and 139 meters. The intercept is interpreted to be the Surebet Zone and is considered one of 5 mineralized intercepts intersected on this gap.

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Gap GD-23-173 collared from Cliff Pad, intersecting Seen Gold and ample sulphide mineralization hosted in quartz stockwork and quartz breccia veins in 2 intervals. The Surebet Zone from 45.11 to 72 meters in addition to the Bonanza Shear from 466 to 455.27 meters. The principle mineralized intercept (Surebet Zone) consists of greater than 1 oz/t AuEq (10.97 g/t Au and 1817.34 g/t Ag) over 9.60 meters* inside 23.89 g/t AuEq (9.40 g/t Au and 1176.14 g/t Ag) over 15.49 meters* inside 14.68 g/t AuEq (5.81 g/t Au and 719.13 g/t Ag) over 26.89 meters*. Assays are at present pending for the deeper intersect that corresponds to the Bonanza Shear and reveals the presence of Seen Gold and ample sulphide mineralization current as semi-massive and stringer galena, sphalerite, pyrrhotite and chalcopyrite. Mineralization is noticed as semi-massive to stringer pyrrhotite (as much as 5%), sphalerite (as much as 2%), disseminated to patchy galena (<1% however constant all through the interval) and minor chalcopyrite (<1%). Seven occurrences of Seen Gold have been noticed by way of the Surebet Zone intercept, reaching sizes as much as 0.7 mm. The deeper Bonanza Shear intercept is hosted in sheared mudstones and extends from 446 to 455.27 meters, the place mineralization consists of disseminated to semi-massive pyrrhotite (1%) and galena, sphalerite and chalcopyrite that present <1% abundance over the interval size however are concentrated in native quartz veins. Seen Gold was recognized at 447.4 meters depth related to sulphides.

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Gap GD-23-197 collared from Pad 16 inside the Golden Gate Feeder Zone (600 m north of Pad A) intersected three outcropping quartz-chlorite-sulphide mineralized shear zones. The primary zone happens inside the mudstones from 396 to 398 meters and is interpreted to be a part of the Surebet Zone, the second happens from 418.1 to 422 meters and is more than likely a part of the Bonanza Shear. A 3rd new zone named the Golden Gate Zone solely 20 meters under the Bonanza Shear, has been recognized inside the underlying Hazelton Volcanics between 442.85 and 462.00 meters representing a 19.15 meter interval (~true width) the place a number of sheeted veins/shears ranging in thickness from 3 centimeters to 2.2 meters have been intercepted, containing ample Seen Gold (as much as 1%) nuggets as much as 4mm in dimension, sphalerite (as much as 10%), galena (as much as 5%), chalcopyrite (as much as 3%), pyrrhotite (as much as 20%) and pyrite (as much as 20%).

Desk 1: Chosen 2023 Golddigger drill gap assay outcomes.

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Desk 2: Collar infrmation for the drill gap reported on this information launch.

All of the occurrences of Seen Gold thus far have been recognized inside quartz-breccia and veins in touch with or in shut proximity to sphalerite and/or galena mineralization. The prevalence of seen gold has beforehand been independently confirmed in 2022 by the Colorado Faculty of Mines with whom the Firm is collaborating on a venture aimed toward figuring out the origin and evolution of the gold mineralizing fluids at Surebet.

Golddigger Property

The Golddigger Property is 100 % managed masking an space of an space of 61,685 hectares (152,427 acres) and is on this planet class geological setting of the Eskay Rift inside the Golden Triangle of British Columbia and inside 3 kilometers of the ‘Purple Line’ that’s host to a number of world class deposits. The Surebet discovery has distinctive metallurgy with gold recoveries of 92.2% inclusive of 48.8% free gold from gravity alone at a 327-micrometer crush. Its is in a superb location shut in proximity to the communities of Alice Arm and Kitsault the place there may be permitted mill web site on personal property. It’s located on tide water with direct barge entry to Prince Rupert (190 kilometers by way of the Observatory inlet/Portland inlet). The city of Kitsault is accessible by highway (190 kilometers from Terrace, 300 kilometers from Prince Rupert) and has a barge touchdown, dock, and infrastructure able to housing no less than 300 individuals, together with high-tension energy. Further infrastructure within the space consists of the Dolly Varden Silver Mine Street (solely 7 kilometers to the East of the Surebet discovery) with direct highway entry to Alice Arm barge touchdown (18 kilometers to the south of the Surebet discovery) and high-tension energy (25 kilometers to the East of Surebet discovery). The town of Terrace (inhabitants 16,000) supplies entry to railway, main highways, and airport with provides (meals, gas, lumber, and so on.), whereas the city of Prince Rupert (inhabitants 12,000) is situated on the west coast and homes a global container seaport additionally with direct entry to railway and an airport with provides.

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Certified Particular person

Rein Turna P. Geo is the certified particular person as outlined by Nationwide Instrument 43-101, for Goliath Useful resource Restricted tasks, and supervised the preparation of, and has reviewed and authorised, the technical info on this launch.

Different

Oriented HQ-diameter or NQ-diameter diamond drill core from the drill marketing campaign is positioned in core packing containers by the drill crew contracted by the Firm. Core packing containers are transported by helicopter to the staging space, after which transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Restoration and RQD measurements taken, and first bedding and secondary structural options together with veins, dykes, cleavage, and shears are famous and measured. The core is then described and transcribed in MX Deposit^TM. Drill holes have been deliberate utilizing Leapfrog Geo^TM and QGIS^TM software program and information 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 minimize lengthwise in half, one-half stays within the field and the opposite half is inserted in a clear plastic bag with a pattern tag. Requirements, blanks and duplicates have been added within the pattern stream at a charge of 10%.

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Seize, channels, chip and talus samples have been collected by foot with helicopter help. Potential areas included, however weren’t restricted to, proximity to MINFile places, placer creek occurrences, regional soil anomalies, and potential gossans based mostly on high-resolution satellite tv for pc imagery. The rock seize and chip samples have been extracted utilizing a rock hammer, or hammer and chisel to reveal recent surfaces and to liberate a pattern of wherever between 0.5 to five.0 kilograms. All pattern websites have been flagged with biodegradable flagging tape and marked with the pattern quantity. All pattern websites have been recorded utilizing hand-held GPS items (accuracy 3-10 meters) and pattern ID, easting, northing, elevation, kind of pattern (outcrop, subcrop, float, talus, chip, seize, and so on.) and an outline of the rock have been recorded on all-weather paper. Samples have been then inserted in a clear plastic bag with a pattern tag for transport and transport to the geochemistry lab. QA/QC samples together with blanks, requirements, and duplicate samples have been inserted repeatedly into the pattern sequence at a charge of 10%.

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All samples are transported in rice baggage sealed with numbered safety tags. A transport firm takes them from the core shack to the ALS labs services in North Vancouver. ALS is both licensed to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its places. At ALS samples have been processed, dried, crushed, and pulverized earlier than evaluation utilizing the ME-MS61 and Au-SCR21 strategies. For the ME-MS61 methodology, a ready pattern 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 have been re-analyzed utilizing the ME-OG62 and Ag-GRA21 strategies (gravimetric end). For Au-SCR21 a big quantity of pattern is required (usually 1-3kg). The pattern is crushed and screened (often to -106 micron) to separate coarse gold particles from superb materials. After screening, two aliquots of the superb fraction are analysed utilizing the standard fireplace assay methodology. The superb fraction is anticipated to be moderately homogenous and properly represented by the duplicate analyses. All the coarse fraction is assayed to find out the contribution of the coarse gold.

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The reader is cautioned that seize samples are spot samples that are usually, however not solely, constrained to mineralization. Seize samples are selective in nature and picked up to find out the presence or absence of mineralization and aren’t supposed to be consultant of the fabric sampled.

About Goliath Sources Restricted

Goliath Sources Restricted is an explorer of treasured metals tasks within the prolific Golden Triangle of northwestern British Columbia and Abitibi Greenstone Belt of Quebec. All of its tasks are in world class geological settings and geopolitical secure jurisdictions amenable to mining in Canada.

For extra info please contact:
Goliath Sources Restricted
Mr. Roger Rosmus
Founder and CEO
Tel: +1-416-488-2887
roger@goliathresources.com

www.goliathresourcesltd.com

* Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and AuEq steel values are calculated utilizing: Au 1644.08 USD/oz, Ag 19.23 USD/oz, Cu 3.47 USD/lbs, Pb 1870.50 USD/ton and Zn 2882.50 USD/ton on October 28, 2022. There may be potential for financial restoration of gold, silver, copper, lead, and zinc from these occurrences based mostly on different mining and exploration tasks in the identical Golden Triangle Mining Camp the place Goliath’s venture is situated such because the Homestake Ridge Gold Mission (Auryn Sources Technical Report, Up to date Mineral Useful resource Estimate and Preliminary Financial Evaluation on the Homestake Ridge Gold Mission, ready by Minefill Providers Inc. (Bothell, Washington), dated Could 29, 2020. Right here, AuEq values have been calculated utilizing 3-year working averages for steel value, and included provisions for metallurgical recoveries, therapy costs, refining prices, and transportation. Recoveries for Gold have been 85.5%, Silver at 74.6%, Copper at 74.6% and Lead at 45.3%. It will likely be assumed that Zinc may be recovered with the Copper on the similar restoration charge of 74.6%. The quoted reference of metallurgical recoveries isn’t from Goliath’s Golddigger Mission, Surebet Zone mineralization, and there’s no assure that such recoveries will ever be achieved, except detailed metallurgical work equivalent to in a Feasibility Research may be finally accomplished on the Golddigger Mission.

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