Price Target Changed • Jul 17
Price target decreased by 15% to CA$4.25 Down from CA$5.00, the current price target is provided by 1 analyst. New target price is 222% above last closing price of CA$1.32. Stock is down 43% over the past year. The company posted a net loss per share of CA$0.22 last year. Announcement • Jul 15
Goliath Resources Limited Expands Bonanza Zone and Golden Gate Zone on High-Grade Gold Surebet Discovery Goliath Resources Limited has reported that initial drilling in the southwest area of the Surebet system has resulted in the expansion of the Bonanza Zone by 750 meters as well as the Golden Gate Zone by 600 meters on its 100% owned Golddigger Property, Golden Triangle, British Columbia. All drill holes completed during the 2026 drill campaign have intersected quartz-sulphide mineralization which generally corresponds to high-grade gold mineralization. 10 out of 107 planned drill holes have been completed with a total of 4,983 m drilled in 2026. Assays are pending on all 2026 drill holes completed to date. Multiple step-out intercepts of mineralization have expanded the Bonanza Zone by 750 meters to the southwest. The expanded Bonanza Zone has a strike of 1.8 km NW-SE and 1.8 km NE-SW. Previously the Bonanza Zone contained 5 lodes up to 19 meters thick with a combined thickness of up to 27 meters and intercepts up to 8.35 g/t AuEq (8.31 g/t Au and 2.30 g/t Ag) over 23.00 meters (drill hole GD-24-280) and remains open for expansion. Mineralization in drill core from the expanded portions of the Bonanza is characterized by the presence of sphalerite and pyrrhotite in wide (up to 11.35 m) intervals consisting of sheared quartz-sulphide breccia. Multiple step-out intercepts of mineralization have expanded the Golden Gate Zone by 400 meters to the south and 200 meters to the north. The expanded Golden Gate Zone has a strike of 1.6 km E-W and 1.5 km N-S. Previously the Golden Gate Zone contained 18 lodes up to 14 meters with a combined thickness of up to 49 meters and with intercepts up to 34.52 g/t AuEq (34.47 g/t Au and 3.96 g/t Ag) over 39.00 meters (drill hole GD-24-260) and remains open for expansion. Mineralization in drill core from the expanded portions of the Golden Gate Zone is characterized by numerous sets of veins and veinlets hosted in andesitic volcanic rocks and mineralized with gold visible to the naked eye (VG-NE), sphalerite, galena, pyrrhotite as well as trace pyrite and chalcopyrite. Gold visible to the naked eye (VG-NE) has been intersected in multiple veins and shear zones from 6 out of 10 holes drilled in 2026 continuing to confirm the consistency of the mineralization within the Surebet system that remains wide open. All drill holes completed during the 2026 drill campaign have intersected quartz-sulphide mineralization which generally corresponds to high-grade gold mineralization. 10 out of 107 planned drill holes have been completed with a total of 4,983 m drilled in 2026. Assays are pending on all 2026 drill holes completed to date. From the Surebet Zone, GD-26-418 intercepted two separate quartz breccia intervals. The first interval is 11.11 meters, containing several occurrences of VG-NE associated with massive to dendritic sulfide mineralization comprising approximately 20% pyrrhotite (Po), sphalerite (Sph), 10% galena (Gal), and trace to <<1% chalcopyrite (Cpy). The second interval is 3.30 meters, consists predominantly of opaque quartz breccia, with localized massive sulfide mineralization comprising about 5% pyrrhotite (Po), 10% sphalerite (Sph), and 1% galena (Gal) and four occurrences of VG-NE; assays pending. Expansion drilling will continue to focus on extending the footprint of the Bonanza Zone and Golden Gate Zone to the East and Northeast as well as expanding the Surebet Zone to the West and testing other gold-rich mineralized lodes/veins that remain open. Directional drilling where multiple drill holes are extended from a single mother-hole is being employed on selected drill holes in order to cut down on drill time and money spent while also increasing accuracy of drill targeting; thus far, all drill targets have been successfully intercepted using this method. The fully funded 2026 planned drill program will include approximately 50,000 meters of systematic drilling with 7 drill rigs designed to expand the known mineralization laterally and to depth in order to test the extent of the Surebet Discovery as well as the potential location of the Motherlode Feeder Source. The system remains open in multiple directions. The expanded Bonanza Zone has a strike of 1.8 km NW-SE and 1.8 km NE-SW. Mineralization in drill core from the expanded portions of the Bonanza is characterized by the presence of sphalerite and pyrrhotite in wide (up to 7 m) intervals consisting of sheared quartz-sulphide breccia. Previously the Bonanza Zone contained 5 lodes up to 19 meters thick with a combined thickness of up to 27 meters and intercepts up to 8.35 g/t AuEq (8.31 g/t Au and 2.30 g/t Ag) over 23.00 meters (drill hole GD-24-280) and mineralized with gold visible to the naked eye (VG-NE); it remains open for expansion. The expanded Golden Gate Zone has a strike of 1.6 km E-W and 1.5 km N-S. Mineralization in drill core from the expanded portions of the Golden Gate Zone is characterized by numerous sets of veins and veinlets hosted in andesitic volcanic rocks and mineralized with VG-NE, sphalerite, galena, pyrrhotite as well as trace pyrite and chalcopyrite. Previously the Golden Gate Zone contained 18 lodes up to 14 meters with a combined thickness of up to 49 meters and with intercepts up to 34.52 g/t AuEq (34.47 g/t Au and 3.96 g/t Ag) over 39.00 meters (drill hole GD-24-260) and remains open for expansion. Gold visible to the naked eye (VG-NE) has been intersected in multiple veins and shear zones from 6 out of 10 holes drilled in 2026 continuing to confirm the consistency of the mineralization within the Surebet system that remains wide open. The fully funded 2026 drill program is underway and will include approximately 50,000 meters of systematic drilling designed to expand the known mineralization laterally and to depth (all mineralized lodes remain open for expansion and new discoveries), as well as test for the Motherlode Magmatic Gold Feeder Source, focused on defining a resource. Expansion drilling will focus on extending the footprint of the Bonanza Zone and Golden Gate Zone to the East and Northeast, as well as expanding the Surebet Zone to the West and testing other gold-rich mineralized lodes/veins that remain open. Additional drilling will be allocated to testing a number of lithological-structural features linked to magnetic anomalies strongly indicating the presence of a Motherlode causative magmatic intrusion gold feeder source. Directional drilling where multiple drill holes are extended from a single mother-hole is being employed on selected drill holes in order to cut down on drill time and money spending while also increasing accuracy of drill targeting; thus far, all drill targets have been successfully intercepted using this method. 100% of the drill holes completed prior to the 2026 drill season within the 1.8 km2 Surebet discovery have intersected gold mineralization clearly demonstrating remarkable continuity, grades, and widths with of over 1,500 drill hole pierce points. Announcement • Jun 19
Goliath Resources Limited Commences Fully Funded 50,000 Meter Expansion Drill Program on High-Grade Gold Surebet Discovery Goliath Resources Limited had drilling commenced on the high-grade gold Surebet Discovery with 2 drills on site and 5 additional drills arriving shortly for a total of 7 drill rigs to carry out the fully funded 2026 planned drill program. This year’s plan is targeting 50,000 meters of systematic drilling designed to expand the known mineralization laterally and to depth in order to test the extent of the Surebet discovery as well as the potential location of the Motherlode Feeder Source. The system remains open in multiple directions. Expansion drilling will focus on extending the footprint of the Bonanza Zone and Golden Gate Zone to the East, Northeast and Southwest as well as expanding the Surebet Zone to the West and testing other gold-rich mineralized lodes/veins that remain open, based on the surface expression of the zones observed in outcrop. The Bonanza Zone can be traced on the surface for approximately 3 kilometres along the north slope, with potential extension of 1.3 kilometres to the Northeast and 600 metres to the Southwest. The Surebet Zone can be traced on surface for 1.1 kilometres along the north slope and 1 km along the south slope. Additional drilling will be allocated to test a magnetic anomaly in the southwestern part of the system which is spatially associated with lithological and structural datasets and strongly indicates the presence of a Motherlode causative magmatic intrusion gold feeder source. A drill core re-logging program is underway focused on better delineating the gold-rich shear zones and veins based on the improved understanding of the geometry and grade distribution as a result of the updated geological model of the Surebet system that remains open. Every drill hole completed to date (2021 – 2025) within the 1.8 km2 Surebet discovery has successfully intersected gold mineralization. These results confirm predictable continuity, grade, and width across 5 gold-rich zones comprising 46 distinct stacked lodes/veins, all of which remain open for expansion. Visible gold to the naked eye (VG-NE) is found in 92% of the drill holes to date at the Surebet Discovery, in three distinct rock packages, with the VG-NE widespread in the majority of the known lodes/veins. The remarkable continuity, widths and grades encountered across multiple lodes/veins underscore the significance of this large 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. Building on the updated geological model of the Surebet system, a drill core re-logging program is currently underway. This re-logging program focuses on better defining the gold-rich shear zones and veins by applying the improved understanding of the system's geometry and grade distribution based on the updated 3D model. 100% of the drill holes completed to date within the 1.8 km2 Surebet discovery have intersected gold mineralization clearly demonstrating remarkable continuity, grades, and widths with of over 1,500 drill hole pierce points. The updated geological model incorporating all currently available data identifies 5 primary mineralized gold-rich zones: Bonanza, Surebet, Golden Gate, Whopper, and Eldorado. Collectively these zones comprise 46 gold-rich stacked lodes/veins and associated vertical Eocene-aged dykes. The Bonanza Zone has 5 lodes/veins with dimensions of 1.8 km x 1.3 km x 19 m and a key intercept of 8.35 g/t AuEq over 23 m. The Surebet Zone has 9 lodes/veins with dimensions of 1.2 km x 1.0 km x 19 m and a key intercept of 21.08 g/t AuEq over 23 m. The Golden Gate Zone has 18 lodes/veins with dimensions of 1.3 km x 1.0 km x 14 m and a key intercept of 34.52 g/t AuEq over 39 m. The Whopper Zone has 12 lodes/veins with dimensions of 1.0 km x 1.0 km x 6 m and a key intercept of 32.67 g/t AuEq over 4 m. The Eldorado Zone has 2 lodes/veins with dimensions of 1.0 km x 900 m x 5 m and a key intercept of 13.93 g/t AuEq over 5.75 m. Gold-rich dykes have dimensions of 1.4 km x 890 m x 25 m and a key intercept of 12.03 g/t AuEq over 10 m. The gold-rich Eocene-aged dykes extend for up to 1.4 km N-S and a vertical relief of up to 890 meters with widths up to 25 meters and intercepts up to 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters (drill hole GD-22-58) and remain open for expansion. 355 out of 386 drill holes representing 92% of holes drilled to date (2021 – 2025) at Surebet contain Visible Gold to The Naked Eye (VG-NE). High-grade gold has been identified in three distinct rock packages identified to date at the Surebet Discovery. This includes the gold-rich stacked quartz-sulphide breccias and stockwork veins hosted in the sedimentary units; the precious and base metals bearing veins hosted in the volcanic units; and the gold-rich intermediate to felsic Eocene-aged dykes. All mineralized rock types contain substantial amounts of VG-NE (from fine-grained to coarse-grained gold) and remain open for expansion. Metallurgical testing conducted on a composite core sample resulted in remarkable recoveries through a combination of simple gravity and flotation of 92.2% for Au, 86.5% for Ag, 94.2% for Pb and 96.9% for Zn. Recoveries through simple and cost-effective gravity alone amount to 48.8% Au and 10.3% Ag with a crush size of 327 micrometer (no cyanide leaching required to recover the gold and silver). The metallurgy completed to date shows a benign rock composition without deleterious elements. The remarkable continuity, widths and grades demonstrated by >156,000 meters of drilling in multiple lodes shows this extensive 1.8 km2 gold system continues to demonstrate strong potential to become one of the most significant gold discoveries in British Columbia’s Golden Triangle in many years. 92% of the holes (355 out of 386) drilled to date at Surebet contain VG-NE and 100% of holes drilled to date at the Surebet Discovery have intersected substantial quartz-sulphide mineralization. The best hole drilled to date from the gold-rich stacked quartz-sulphide breccias and stockwork veins hosted in the sedimentary units is GD-23-157 that assayed 21.08 g/t AuEq (18.95 g/t Au and 95.31 g/t Ag) over 23.00 meters, including 33.75 g/t AuEq (30.39 g/t Au and 150.42 g/t Ag) over 14.00 meters, including 50.27 g/t AuEq (45.27 g/t Au and 225.42 g/t Ag) over 9.00 meters. The best hole drilled to date from the precious and base metals bearing veins hosted in the volcanic units is GD-24-260 from the Golden Gate Zone that 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. 
