TORONTO - Goliath Resources Limited (TSX-V: GOT) (FSE: B4IF) (OTCQB: GOTRF) (the 'Company' or 'Goliath') is pleased to announce it has identified several new targets base on successful soil and silt program results from the 2020 field season on the Lorne Creek Porphyry discovery.

This discovery is located on its 100 % controlled Lucky Strike property, situated 40 north of Terrace, British Columbia, 8 km to highway, power, and railway.

'The geochemical anomalies discovered in 2020 overlying geophysical anomalies further confirm the strong indications of a potential deposit size buried porphyry system. Compilation and integration of this new geochemical data coupled with the inaugural 2019 drill results puts us in a great position to vector our efforts in preparation for potential drilling in 2022 to unlock its full potential as part of our pipeline of projects' stated Mr. Roger Rosmus, CEO of Goliath, further 'We remain focused on creating shareholder value in 2021 with our fully funded inaugural drill program on Goliath's Surebet high-grade polymetallic gold-silver discovery on our 100% controlled Golddigger property located near Stewart, British Columbia in the prolific Golden Triangle.'

The 2020 soil and silt program were designed to follow up on the strong geophysical anomalies identified from the recently acquired High Resolution Magnetic and Radiometric survey on the Lorne Porphyry discovery. A total of 191 soil samples were collected with assays ranging from background up to 659 ppb Au, 3600 ppm Cu and 776 ppm Mo, and 28 silt samples with assays ranging from background up to 120 ppb Au, 755 ppm Cu and 143 ppm Mo.

2020 highlights include: A 900 m x 500 m soil grid with 100 m spacing over a large magnetic high in the eastern part of the Lorne Creek area returned Cu in soil values up to 287 ppm, Mo up to 368 ppm, and Au up to 659 ppb and remains open indicating the presence of a buried porphyry planned to be drill tested in 2022.

A 500 m x 250 m soil grid with 100 m spacing over a smaller magnetic high located across Lorne Creek returned Cu in soil values of up to 3600 ppm, Mo up to 436 ppm, and Au up to 79 ppb and remains open indicating the presence of a buried porphyry to be drill tested in 2022.

A 700 m x 100 m soil grid also with 100 m spacing was sampled in the slope south of Lorne Creek yielding Cu in soil values up to 668 ppm, Mo up to 776 ppm, and Au up to 404 ppb and remains open indicating the presence of a buried porphyry to be drill tested.

Silt samples were collected from the drainage close to the location of the 2019 inaugural drill pad and from various targets located higher on the ridge from radiometric potassium alteration anomalies. These samples returned Cu values up to 503 ppm, Mo up to 143 ppm, and Au up to 120 ppb indicating the presence of a large porphyry system.

About Goliath Resources Limited

Goliath Resources Limited is a project generator of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and Abitibi Greenstone Belt of Quebec.

Contact:

Mr. Roger Rosmus

Tel: +1-416-488-2887

Email: roger@goliathresources.com

Web: www.goliathresourcesltd.com

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 Company to complete the 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.

The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the 'Securities Act'), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.

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