Maiden Drill Campaign At Gloddigger Property

TORONTO – Goliath Resources Limited reported a 78.0-meter intercept of from the third drill hole, GD21-003, on the 2021 maiden diamond drill campaign at the Golddigger Property. The campaign is designed to trace the high-grade gold-silver zone exposed at surface along 1,000 meters (1km) of strike and to a down dip depth over 500 meters at the Surebet Zone. Currently the Surebet zone averages 9.84 meters wide grading 10.68 g/t AuEq (with 7.59 g/t Au) based on channel cut sampling taken in 2020. Surebet also has 500 meters of vertical relief and 1,000 meters of inferred down dip extent.

Quinton Hennigh, Technical Advisor, said, “Hole GD21-003 displays abundant sulphides, particularly base metal sulphides and sulphosalts. Intensity of mineralization appears to increase with respect to the first two nearby holes, both of which were impressive. The width of the Surebet mineralized zone remains very strong. Given that this hole reaches furthest southwest on this northwest-striking, southwest-dipping structure, the system is clearly open to the southwest where its surface exposure dives under talus cover. In fact, it may be strengthening in this direction, a very intriguing possibility. Goliath is exploring the possibility of drilling further to the southwest to evaluate this possibility. In the meantime, we look forward to completing hole GD21-004, the final hole from this pad, before moving the drill northward.”

Roger Rosmus, Founder & CEO, said, “The continuity of the drilling to date strongly indicates the presence of a very large high grade precious metals system that is showing the ingredients for to be the next big gold discovery in B.C.’s prolific Golden Triangle. With only 50M shares issued and outstanding, plus a strong treasury with no debt, our shareholders are in a great position to build value in short order. Drill results are expected on GD21-001 & 002 in the near future from our 100% controlled Golddigger Property.”

GD21-003 undercut an area approximately 37 meters below surface of the southernmost Cliff Showing. The Cliff Showing previously yielded a fresh angular float sample assaying 967.99 g/t AuEq (29.72 oz/t Gold, 97.19 oz/t Silver), and is located 90 meters along strike to the south of the Lower Waterfall Showing of 13.05 g/t AuEq over 15.1 meters (true width).

The upper bounding quartz-sulphide vein in GD21-003 is located approximately 50 meters down-dip of the top of mineralization in GD21-002, while the lower bounding quartz-sulphide vein is 85 m down-dip of the base of the GD-21-002 intercept. The top of the quartz-sulphide vein intercept in GD21-003 is located 250 meters south of the Lower Waterfall Showing, where 2020 channel cut yielded 13.05 g/t AuEq over 15.1 meters.

The fourth hole on the Surebet Zone, GD21-04 (at a targeted length of 150 meters, 170°/-70°), is being drilled to the south from the same drill pad as the first three holes in order to further constrain the geometry (true width and orientation) of the Surebet mineralized shear vein at the Cliff Showing.

Goliath has planned for up to ~5,000 meters of fan drilling from multiple drill pads to target the extensive gold-bearing quartz-sulphide veining at Surebet both along strike and to depth from surface exposures at the Lower Waterfall, Waterfall, Main, Central and North Rubble Showings. Surface sampling has outlined 1,000 meters of strike length, 500 meters of vertical relief and 1,000 meters of inferred down-dip extent. The drilling will focus on testing the continuity at depth of the high-grade gold-silver mineralization zone exposed at surface averaging 9.84 meters wide at 10.68 g/t AuEq (with 7.59 g/t gold) which remains open.