Goliath Intersects Several High-Grade Holes Including 19.13 g/t Au Over 6.10 Meters, Drilling Significantly Expands Extent Of Gold Mineralization In All 5 Main Zones That Remain Open

TORONTO, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report assay results (gold only) for the remaining holes from the 2025 drill campaign at the Surebet Discovery on its 100% controlled Golddigger Property (the “Property”), Golden Triangle, British Columbia. Highlights include drill hole GD-25-319 which intersected 19.13 g/t Au over 6.10 meters as well as drill hole GD-25-405 which intersected 10.58 g/t Au over 8.30 meters. Every drill hole completed so far, including all 110 holes from the 2025 season, has successfully intersected gold mineralization. These results confirm predictable continuity, grade, and width across 5 Gold-Rich Zones and 46 Distinct Lodes, all of which remain open for expansion. The fully funded 2026 drill program will focus on expanding the 5 Main Mineralized Zones, testing the Motherlode causative intrusive source, and build toward a future resource. Dr. Quinton Hennigh, Geologic & Technical Advisor to Crescat Capital, a strategic investor in Goliath, states: _“The consistent reporting of thick high-grade gold intercepts from Surebet is remarkable. Yet again, we see in this news release several more holes that demonstrate the strong predictability of this lode system. Visible gold in core consistently delivers strong assays. While we have to remain patient to see the gold equivalent results from the final 110 drill holes, the confidence around the continuity of these lodes, their thickness and grade is growing with every release. Goliath is doing a great job to continually update the geologic model, with the assistance from the Colorado School of Mines, to show the remarkable Surebet gold discovery.”_ Mr. Roger Rosmus, Founder & CEO of Goliath states: _“The Surebet high-grade gold discovery continues to grow during every new season of drilling. To date, we have discovered a series of stacked gently dipping high-grade gold veins analogous to the Pogo mine in Alaska. In addition, we have started to drill into a series of vertical Eocene-aged RIRG dykes were emplaced roughly the same as the stack veins. We have yet to find the limits of the stacked veins and RIRG dykes, which all remain open, or the source of where they come from, but we are excited about using them to vector into the Motherlode source. What is outstanding about the various high-grade gold mineralization is the vast distribution VG-NE over a large area, which makes the Surebet discovery unique. Another intriguing aspect of the VG-NE is that at the top of the system it is fine-grained and sporadic and as we drill deeper into the system it becomes abundant and course-grained. Which has us excited about following it toward the source. We have two sets of stacked veins (the Surebet series and Bonanza series) that dip in opposite directions but come together at the Hinge Zone. It is becoming clearer, especially through our 2025 drilling campaign, that the Hinge Zone has the potential to be a starter zone for underground high-grade gold bulk mining. Our team, including key people at the Colorado School of Mines, are excited about the advanced geological studies to help us prepare for the 2026 drilling season. We are in the best financial position the company has ever been in as we are fully funded for our 2026 drilling campaign and are looking forward to expanding on the tremendous Surebet high-grade gold discovery.”_ Mr. Roger Rosmus, Founder & CEO of Goliath states: _“The Surebet high-grade gold discovery continues to grow during every new season of drilling. To date, we have discovered a series of stacked gently dipping high-grade gold veins analogous to the Pogo mine in Alaska. In addition, we have started to drill into a series of vertical Eocene-aged RIRG dykes were emplaced roughly the same as the stack veins. We have yet to find the limits of the stacked veins and RIRG dykes, which all remain open, or the source of where they come from, but we are excited about using them to vector into the Motherlode source. What is outstanding about the various high-grade gold mineralization is the vast distribution VG-NE over a large area, which makes the Surebet discovery unique. Another intriguing aspect of the VG-NE is that at the top of the system it is fine-grained and sporadic and as we drill deeper into the system it becomes abundant and course-grained. Which has us excited about following it toward the source. We have two sets of stacked veins (the Surebet series and Bonanza series) that dip in opposite directions but come together at the Hinge Zone. It is becoming clearer, especially through our 2025 drilling campaign, that the Hinge Zone has the potential to be a starter zone for underground high-grade gold bulk mining. Our team, including key people at the Colorado School of Mines, are excited about the advanced geological studies to help us prepare for the 2026 drilling season. We are in the best financial position the company has ever been in as we are fully funded for our 2026 drilling campaign and are looking forward to expanding on the tremendous Surebet high-grade gold discovery.”_ Assay results from the recently concluded 64,364-meter drill program have significantly expanded the high-grade footprint of the Surebet Discovery, which remains open for further growth. An updated geological model incorporating all 2025 data identifies 5 primary mineralized Zones: Bonanza, Surebet, Golden Gate, Whopper, and Eldorado. Collectively these Zones comprise 46 gold-rich lodes and associated Eocene-aged RIRG dykes. Table 1: Five main modelled gold rich zones and dykes. | | | | | | | --- | --- | --- | --- | --- | | Zone | Number of Lodes | Dimensions | Key Intercept | Status | | Bonanza | 5 | 1.8 km x 1.1 km x 19 m | 13.53 g/t AuEq over 11 m | Remains Open | | Surebet | 9 | 1.2 km x 930 m x 19 m | 21.08 g/t AuEq over 23 m | Remains Open | | Golden Gate | 18 | 1.3 km x 820 m x 14 m | 34.52 g/t AuEq over 39 m | Remains Open | | Whopper | 12 | 800 m x 450 m x 6 m | 32.67 g/t AuEq over 4 m | Remains Open | | Eldorado | 2 | 680 m x 700 m x 5 m | 7.91 g/t AuEq over 7.15 m | Remains Open | | Gold-rich dykes | | 1.4 km x 890 m x 25 m | 12.03 g/t AuEq over 10 m | Remains Open | Reported assay results from the 2025 drill campaign have yielded several high-grade gold intercepts across the Golden Gate, Bonanza, and Surebet Zones, characterized by frequent occurrences of VG-NE, as well as substantial sulphide mineralization. Highlights include drill hole GD-25-319 which intersected 19.13 g/t Au over 6.10 meters, including 22.86 g/t Au over 5.10 meters, including 29.09 g/t Au over 4.00 meters from the Golden Gate Zone. Drill hole GD-25-405 which intersected 10.58 g/t Au over 8.30 meters, including 14.04 g/t Au over 6.25 meters including 15.50 g/t Au over 5.60 meters from the Bonanza Zone, and drill hole GD-25-312 which intersected 10.56 g/t Au over 3.70 meters from the Surebet Zone. The gold grades, coupled with VG-NE within substantial quartz-sulphide veins, stockworks, and breccias, which are mineralized with sphalerite, pyrrhotite, and chalcopyrite, highlight the potential for further expansion. These intercepts are approximately true width, and the assays reflect gold only. Multi-element gold equivalent grades for all drill holes will be released once all assays have been received, compiled and interpreted in the near future. See Table 2 below for a full list of assay results for all the remaining holes of the 2025 drill campaign. High-grade gold has been identified in three distinct rock packages discovered to date at the Surebet Discovery. This includes the gently dipping gold-rich stacked quartz-sulphide breccias/stockwork veins; the gold-rich intermediate to felsic gold-Rich dykes; and the recently discovered broad gold-rich zones of calc-silicate altered breccia. All mineralized rock types contain substantial amounts of VG-NE (from fine-grained to coarse-grained gold) and remain open for expansion. This confirms the presence of a Motherlode magmatic source nearby, a causative intrusion responsible for the extensive 1.8 km2 high-grade gold system at Surebet. The remarkable continuity, widths and grades encountered across multiple lodes underscore the significance of this 1.8 km2 gold system which has strong potential to become one of the most significant gold discoveries in British Columbia’s Golden Triangle in many years. Success to date has effectively vectored toward several open targets, providing a strong foundation for further expansion in the 2026 drilling campaign. Surebet Discovery Highlights * Assay results are still pending for 110 holes from the 2025 exploration campaign for the gold equivalent (AuEq) values, that will be announced once received, compiled and interpreted. * 83 out of 110 holes (or 76%) drilled in 2025 contain VG-NE, 100% of holes drilled to date at the Surebet Discovery have intersected substantial quartz-sulphide mineralization. See news releases dated: November 17, 2025, October 27, 2025, September 22, 2025, September 8, 2025, August 26, 2025, and July 28, 2025. * 60 out of 64 holes (or 94%) drilled in 2024 contain VG-NE up to 11.5 mm (7/16 inches) in size, all of which returned high-grade gold. See news releases dated: July 7, 2025, June 23, 2025, January 7, 2025, January 13, 2025, February 10, 2025, February 18, 2025, February 27, 2025, December 12, 2024 and July 30, 2024. * 92% of the holes (355 out of 386) drilled to date at Surebet contain VG-NE (see heat map above). * The best hole drilled to date is GD-24-260 previously reported from the Bonanza Zone assayed 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 (see news release dated January 13, 2025). ). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below. The best hole drilled to date from the RIRG Eocene-aged dykes is GD-22-58 that assayed 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, plus a second separate interval down hole of 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters (see news release dated March 13, 2025). ). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below. The best hole drilled to date from the third distinct rock package consisting of calc-silicate altered breccia is drill hole GD-25-337, which intersected 10.60 g/t Au over 22.82 meters, including 15.19 g/t Au over 15.71 meters, including two separate intervals consisting of 37.28 g/t Au or 1.20 oz/t Au over 3.36 meters and 36.11 or 1.16 oz/t Au over 3.08 meters. The intercept is approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received and interpreted). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below. Multiple gently dipping gold-mineralized stacked veins have been identified every year on the Surebet high-grade gold discovery. Recent discoveries include gold-rich RIRG dykes, Goldilocks Zones where the veins and vertical dykes crosscut (which are characterized by having high-grade gold in two temperature regimes) and recently discovered high-grade gold in a third distinct rock package characterized by calc-silicate altered breccia, which increases potential tonnage and gold content of the high-grade gold system at the Surebet Discovery. The footprint of the mineralization discovered to date at Surebet is 1.8 km2 and remains open in all directions. Thanks to the mountainous topography, mineralization in the veins is exposed on the surface for 2.1 km of strike (1.0 km on the south slope and 1.1 km on the north slope) with a vertical relief of 700 meters. A study completed by the Colorado School of Mines confirms a new interpretation of the ore forming process of high-grade gold mineralization at Surebet and outlines a common magmatic source for the high-grade gold system, now in three distinct rock packages. Which gives the Surebet untapped discovery potential to increase tonnage and gold content in the various known rock packages. Until this study, researchers and explorers in the Golden Triangle had not recognized the high-grade gold discovery potential in the Eocene-aged RIRG dykes (see news release March 13, 2025), which is showing the potential that these discoveries could be a geological breakthrough in the Golden Triangle of British Columbia. Goliath has drilled over 156,000 meters with over 600 pierce points in the Surebet Discovery located at the Golddigger property between 2021 and 2025. The Surebet Discovery has predictable continuity and good metallurgy with gold recoveries of 92.2% from gravity and flotation at a 327-micrometer crush including 48.8% free gold recovery from gravity alone (no cyanide required to recover the gold). The metallurgy completed to date shows a benign rock composition without deleterious elements (see news release dated March 1, 2023). Based on positive grassroots exploration and drill results in recent years, Goliath significantly increased its land package from 66,608 hectares to 91,518 hectares (226,146 acres) and now controls 56 kilometers of key terrain of the Red Line geologic trend providing for additional discovery potential. The Golddigger Property is located on tidewater with a barge route to Prince Rupert (190 km south) and close to infrastructure including the town of Kitsault adjacent to a permitted mine site on private property. 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 a high level of research to be performed on the Surebet Discovery. Independent Trading Group Engaged As Market Maker Goliath has engaged the services of Independent Trading Group (“ITG”) to provide market-making services in accordance with TSX Venture Exchange TSXV, CSE, Cboe Canada policies subject to regulatory approval. ITG will trade shares of the Company on the TSXV and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company\'s common shares. Under the agreement, ITG will receive compensation of CAD$6,000 per month, payable monthly in advance. The agreement is for an initial term of one month and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days\' notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company. About Independent Trading Group Independent Trading Group (ITG) Inc. is a Toronto based CIRO dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors. RSU Grant The Company has granted an aggregate of 3,165,000 restricted share units to officers and directors of the Company, which will vest equally over three years, with first vesting occurring after one year. Also, a total of 75,000 restricted share units granted to a consultant which will vest in one year. All restricted share units are subject to the Company\'s omnibus equity incentive plan. 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 an Independent Director of the Company. About Goliath Resources Limited Goliath Resources is an explorer of precious metals projects in the highly prospective Golden Triangle of Northwest-ern 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. In 2025, Goliath completed its largest drill campaign to date for a total of 64,364 meters. It is fully funded for a similar sized drill program in 2026. Assay results are still pending for 110 holes from the 2025 exploration campaign for the gold equivalent (AuEq) values, that will be announced once received, compiled and interpreted. The Company’s key strategic cornerstone shareholders include Crescat Capital, a Global Commodity Group (Singapore), McEwen Inc. (NYSE: MUX) (TSX: MUX), Waratah Capital Advisors, Rob McEwen, Eric Sprott and Larry Childress. For more information please contact: Goliath Resources Limited Mr. Roger Rosmus Founder and CEO Tel: +1.416.488.2887 roger@goliathresources.com www.goliathresourcesltd.com Disclaimer 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. QA/QC Protocol 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 2017-2024 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration is 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. The bagged samples are then weighed and secured with a zip tie. Certified reference materials (CRMs), blanks and duplicates are added in the sample stream at a rate of 10%. To ensure analytical anonymity, CRM identification labels are removed prior to submission to the laboratory. Additional out-of-sequence blanks are introduced immediately following core samples that contain VG-NE or high-grade sulphide mineralization. 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 are then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, certified reference materials, and duplicate samples are inserted regularly into the sample sequence at a rate of 10%. All samples are transported in rice bags sealed with numbered security tags. The rice bags are transported from the core shacks to the MSALABS facilities in Terrace, BC. MSALABS is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. The core samples undergo preparation via drying, crushing to ~70% of the material passing a 2 mm sieve and riffle splitting. The sample splits are weighed and transferred into three plastic jars, each containing between 300 g and 500 g of crushed sample material. A 250 g split is pulverized to ensure at least 85% of the material passes through a 75 µm sieve. The crushed samples are transported to the MSALABS PhotonAssayTM facility in Prince George, where gold concentrations are quantified via photon assay analysis (method CPA-Au1). Samples that result in gold concentrations ≥5 ppm are analyzed to extinction. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, inducing the emission of secondary gamma rays, which are measured to quantify gold concentrations. The assays from all jars are combined on a weight-averaged basis. Multielement analyses are carried at the MSALABS facilities in Surrey, BC, where 250 g of pulverized splits are analyzed via ICF6xx and IMS-230 methods. The IMS-230 method uses 4-acid digestion (a combination of hydrochloric, nitric, perchloric and hydrofluoric acids) followed by inductively coupled plasma emission spectrometry to quantify concentrations of 48 elements. Samples with over-limit results for Ag, Cu, Pb and Zn undergo ore-grade analysis via the ICF-6xx method (where ‘xx’ denotes the target metal). This method employs 4-acid digestion followed by inductively coupled plasma emission spectrometry. Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and Gold Equivalent (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._