Junior Explorer Drills Into Major Gold System in BC

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Goliath Resources Ltd. (GOT:TSX.V; GOTRF:OTCQB; B4IF:FSE) reported significant assay results from its re-logging program at the Surebet Discovery, part of its 100% controlled Golddigger Property located in British Columbia's Golden Triangle. Drill hole GD-22-64 intersected 6.31 grams per tonne (g/t) gold equivalent (AuEq) over 14.35 meters, including 11.36 g/t AuEq over 7.85 meters within a gold-rich intrusive feeder dyke. This represents the first of multiple re-logged drill holes from 2021 to 2024 that contain visible gold and were not previously sampled or assayed

The identified feeder dyke is interpreted as a Reduced Intrusion Related Gold (RIRG) system directly connected to a causative intrusion — referred to as the Motherlode Source. Additional visible gold was confirmed in seven other historical holes now undergoing assay, with many hosted in a newly recognized calc-silicate altered breccia unit. Goliath has expanded its re-logging program to 75 holes, covering 3,390 meters, based on the discovery of this mineralized breccia in holes GD-24-277 and GD-24-280

Assay results from the 2024 drill campaign have consistently correlated visible gold with high-grade gold mineralization. Notably, 92% of holes drilled in 2024 contained visible gold, and all returned strong assays. Prior work has demonstrated gold recoveries of 92.2% from gravity and flotation without cyanide, with 48.8% classified as free gold.

Dr. Quinton Hennigh, Technical Advisor to Crescat Capital, commented in the announcement that hole GD-22-64 is "a prime example of how important this style of mineralization is becoming at the Surebet Discovery," noting that similar mineralized zones are being recognized in both re-logged and newly drilled holes.

Roger Rosmus, Founder and CEO of Goliath Resources, stated that the results "confirm the excellent additional discovery potential of gold mineralization," citing the re-logging program and presence of visible gold across multiple campaigns as key indicators of upside potential.

Gold Gains Global Favor as Central Banks Diversify Reserves

According to Matthew Piepenburg in a June 19 article for Thoughtful Money, the surge in gold prices in 2025 was directly tied to mounting global debt and rising geopolitical instability. Piepenburg stated that "gold has seen over 75 all-time-highs this year" and described it as "a centrally rising tier-one global strategic reserve asset." He argued that widespread distrust in paper currencies and the weaponized U.S. Treasury system had elevated gold's position in global finance. Moreover, he emphasized that gold had outperformed the S&P 500 in total return over the last two decades and had become "the best performing asset of 2025."

In a June 20 article published by Stockhead, Josh Chiat reported that gold prices had climbed from under US$2,000 per ounce in late 2023 to more than US$3,350 per ounce in mid-2025, briefly surpassing US$3,500 in April. The article noted that sovereign buyers had purchased approximately 1,000 tonnes of gold annually over the past three years. Citing the World Gold Council's annual survey, Chiat wrote that "95% of central banks buyers expect central banks to increase their gold reserves this year," up from 81% in the previous year. He also quoted Shaokai Fan of the WGC, who said, "Nearly half of the central bank respondents intend to increase their own gold holdings in the coming year. . .  especially considering how many record-high prices we've hit so far in 2025."

A June 23 Ahead of the Herd article expanded on the safe-haven appeal of gold amid persistent geopolitical risks. It noted that gold had risen by approximately 27% year to date and attributed the gains to factors such as global conflict, inflation fears, and declining trust in U.S. financial leadership. The publication cited the World Gold Council's finding that "43% of central bank reserve managers said they plan to increase their gold holdings this year," up from 29% a year earlier. It also highlighted that "76% of respondents believe that gold will represent a moderately or significantly larger share of total reserves five years from now."

The article also referenced a shift away from U.S. Treasury assets, citing New York Fed data showing a decline in custody holdings for foreign central banks to US$3.22 trillion, the lowest level since 2017. According to Bank of America's Meghan Swiber, "This flow likely reflects official sector diversification away from dollar holdings."

Analyst Upgrades and Investor Confidence Signal Strengthening Outlook

On May 1, Red Cloud Securities vice president and mining analyst Taylor Combaluzier raised his target price for Goliath Resources Ltd. to CA$2.90 per share, marking an 81% increase. The revised valuation was based on 2024 drill results from the Golddigger Property, which supported an estimated 4 to 6 million gold-equivalent ounces grading 6.62 grams per tonne. Combaluzier wrote that the 2024 program "likely significantly expanded gold mineralization" and noted that the upcoming 2025 campaign could further grow the resource. He added that strong new results "could help close the gap" between Goliath's valuation and its peer group. Red Cloud maintained a Buy rating with a projected return of 65% at the time of the report.

In a May 10 interview with Triangle Investor, Thomas J. Parilla, president of Parilla Investment Group, identified Goliath Resources as one of his firm's key holdings. He cited both exploration results and leadership, stating, "Goliath, their drill results are just off the charts," and described CEO Roger Rosmus as "a fantastic CEO" with international credibility. Parilla referenced internal company estimates suggesting the Golddigger project could ultimately support a US$2.5 billion valuation in a potential acquisition. "I would imagine that's a US$12–15 stock when you get out that far," he said, suggesting acquisition interest could follow the current drill season.

On May 18, George Billman of Resourceful Insights highlighted Goliath's expanding footprint in the southern Golden Triangle as a key factor in its rising market value and regional land consolidation. He reported that Goliath's market capitalization had increased by US$146 million since the end of 2023, a gain of nearly 150%. Billman attributed this to "mounting evidence of expansive Reduced Intrusion-related Gold System (RIRGS)" mineralization and the visibility of stacked veins and feeder dykes across the property. He also noted that management and insiders had grown their collective ownership to 51.5%, describing the shareholder base as "strong-handed" and well-positioned for long-term value realization.

Pathways to Expansion: Catalysts for the Surebet Discovery

Goliath's investor materials outline several key catalysts in 2025, centered around its aggressive 40,000-meter drill campaign on the Surebet Discovery. The program is focused on delineating the full geometry and extent of the mineralized system, particularly testing the hypothesized Motherlode intrusive gold source. Infill drilling is planned to increase pierce point density across the known high-grade domains, including the Bonanza and Surebet Zones, with additional step-outs designed to explore lateral and vertical extensions

The company has also identified 13 previously unmapped Eocene granitoid feeder dykes that have not yet been drill-tested but have been observed at surface. These targets, combined with visible gold found in four previously drilled and assayed feeder dykes, offer opportunities for near-term discoveries. According to the presentation, 17 total feeder dykes have now been intersected or mapped, with updated geological modeling reinforcing their association with a larger RIRG system

Infrastructure remains a strength for Goliath. The Golddigger Property lies within three kilometers of the Red Line geological contact and has direct tidewater access to Prince Rupert. It is also near existing high-tension power lines and permitted mill sites, positioning the project favorably for future development logistics.

Ownership and Share Structure

According to Goliath Resources, management and insiders own 20% of its shares on a partially diluted basis. 

Strategic and institutional investors collectively own 32.5%, with notable holdings including Crescat Capital LLC at 12.2%, Global Commodity Group (Singapore) at 5%, McEwen Mining at 4.8%, Waratah Capital Advisors 4.3%, Rob McEwen at 3.2%, Eric Sprott at 2% and Larry Childress at 1%. 

The remaining shares are held by other institutional funds and retail investors. 

Post this current round of financing,  Goliath has 161.7  million issued and outstanding shares and (141.86M free float traded shares??). Its market cap is CA347.63  Its 52-week range is CA$0.90  – CA$2.87 per share.

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