Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the 'Company' or 'Goliath') is very pleased to report the discovery of abundant visible gold and strong sulphide mineralization in quartz breccia, as well as a significant 22.4 meter intercept of a porphyritic intrusion containing veins with abundant visible gold, molybdenum and bismuth mineralization in GD-24-235 the first drill hole of 2024 (assays are pending).

This increases the Company's confidence in the proximity of the feeder source of the Surebet system that remains wide open at its 100% controlled Golddigger Property (the 'Property'), Golden Triangle, B.C.

Dr. Quinton Hennigh, Technical and Geologic Director of strategic shareholder, Crescat Capital, commented: 'Just recently, I explained why I think this is going to be a summer of discovery for Goliath. The Company rightly persists to test new ideas and targets that have consistently generated better and better results from Surebet and other targets across the Golddigger Project. And here we are, just one week into the program, with what appears to be a major new discovery of a gold-rich zone, possibly a root feeder to the Surebet and related structures. The abundant particles of visible gold observed in this new zone give reason for a lot of excitement, especially given that mineralization is spatially associated with what might prove to be a causative intrusion. Other indicators support this magmatic association including the presence of molybdenum and bismuth-rich minerals in the sulfide assemblage of the vein breccia. I think the team at Goliath has done a remarkable job of identifying this target using sound science, and they should be congratulated for this remarkable discovery.'

Drill hole GD-24-235 collared from Golden Gate Pad (180/81/696m) intersected multiple strongly mineralized veins containing visible gold, galena, sphalerite, pyrrhotite and pyrite mineralization. The hole drilled through a sedimentary sequence of mudrocks, an intermediate intrusive unit, multiple intermediate dykes and andesite.

The first hole of the drilling season was designed and focused on intercepting the Bonanza shear and test below an area where drill hole GD-23-197 intersected 9 meters of 34.03 g/t AuEq or 1.09 oz/t AuEq (32.55 g/t Au and 65.71 g/t Ag) in 2023. The mineralization observed in hole GD-24-235 for the interval from 445.4 - 447.39 meters is reminiscent of what was observed from 449.37 - 458.40 meters in GD-23-197, suggesting that similar gold grades can be expected from this interval (see comparison image below).

GD-24-235 intersected a 12 meter interval of high vein density from 445 - 457 meters downhole, with multiple large quartz-sulphide veins at the contact between sedimentary and volcanic units. A quartz vein with significant mineralization occurs from 445.4 - 447.39 meters. The vein contains semi massive to massive pyrite (3%), sphalerite (2%) and pyrrhotite (1%). The vein also has minor galena (

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