Gold Discovery Expands Again as Two High-Grade Zones Grow Hundreds of Meters

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1. Disclosure for the quote from the John Newell article published on February 24, 2026

1. For the quoted article (published on February 24, 2026), Goliath Resources has paid Street Smart, an affiliate of Streetwise Reports, US$3,550
2. Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a  U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

  2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Goliath Resources Ltd. (GOT:TSX.V; GOTRF:OTCQX; B4IF:FSE) reported that initial drilling during its 2026 exploration campaign expanded the Bonanza Zone by 750 meters and the Golden Gate Zone by 600 meters at the Surebet Discovery on its 100%-owned Golddigger Property in British Columbia's Golden Triangle.

The company said multiple step-out intercepts extended the Bonanza Zone 750 meters to the southwest, increasing its strike to 1.8 kilometers northwest to southeast and 1.8 kilometers northeast to southwest. The zone remains open, with assays pending from the expanded area. Before the latest drilling, the Bonanza Zone contained five lodes up to 19 meters thick with a combined thickness of up to 27 meters and previously reported intercepts of up to 8.35 grams per tonne (g/t) gold equivalent, consisting of 8.31 g/t gold and 2.30 g/t silver, over 23.00 meters in drill hole GD-24-280.

Step-out drilling also expanded the Golden Gate Zone by 400 meters to the south and 200 meters to the north. The zone now has a strike of 1.6 kilometers east to west and 1.5 kilometers north to south and remains open, with assays pending. Prior to the expansion, the Golden Gate Zone contained 18 lodes up to 14 meters thick with a combined thickness of up to 49 meters and previously reported intercepts of up to 34.52 g/t gold equivalent, consisting of 34.47 g/t gold and 3.96 g/t silver, over 39.00 meters in drill hole GD-24-260.

Goliath said all drill holes completed during the 2026 campaign have intersected quartz-sulphide mineralization, which generally corresponds to high-grade gold mineralization. The company has completed 10 of 107 planned drill holes, totaling 4,983 meters, with assays pending for all holes drilled to date.

The company also reported that visible gold has been intersected in multiple veins and shear zones in six of the first 10 holes drilled this year. At the Surebet Zone, drill hole GD-26-418 intersected two quartz breccia intervals measuring 11.11 meters and 3.30 meters that contained visible gold associated with pyrrhotite, sphalerite, galena, and trace chalcopyrite. Assays for both intervals are pending.

"Our 2026 drilling campaign is off to a strong start, with two key goals in mind: 1) extensively drill the area where Surebet, Bonanza and Golden Gate meet (hinge zones), which consistently shows high grade gold mineralization... and 2) explore and drill test new areas that expand the currently known extent of the mineralization, focusing on the expansion of the Bonanza Zone... as well as the Golden Gate Zone," Founder and CEO Roger Rosmus said in a company news release.

The company said its fully funded 2026 drill program is planned to include approximately 50,000 meters of drilling using seven drill rigs. The program is designed to expand known mineralization laterally and at depth, test the extent of the Surebet Discovery, and evaluate the potential location of the Motherlode Magmatic Gold Feeder Source. Drilling will continue to focus on extending the Bonanza and Golden Gate zones, expanding the Surebet Zone, and testing additional gold-rich lodes and veins that remain open.

Analyst Sees Expansion Potential at Surebet

According to a July 15, 2026, note from Stifel analyst Cole McGill, the latest drilling update demonstrated continuity of the Bonanza Zone after step-out drilling extended the shear structure approximately 750 meters to the southwest, while assay results remained pending. McGill wrote that the drilling "showcases continuity of the Bonanza shear structure/host lithology (>1.8km x >1.8km corridor)," which he said demonstrated "potential mineral upside" relative to his exploration target.

McGill also wrote that step-out drilling "has the ability to put upward pressure on total ounce count of property." Following a site visit, he said he had increased confidence in "a high grade, potential ~1.5MMoz 'central corridor' of mineralization where Bonanza/Surebet intersect, with heightened grade/continuity."

On valuation, McGill wrote that "GOT trades at US$30/oz, our exploration target." His exploration target is 4.3MMoz based on his January 20, 2026, note and comments, "Surebet's first 150 holes look similar to the former Great Bear Resource's Dixie (acquired by Kinross in 2022 for US$1.45B). Surebet's first 150 holes averaging @ 124 g*m, versus Dixie's LP Zone at 129 g*m, just a 4% difference."

¹In a February 24 report, John Newell of John Newell & Associates initiated coverage of Goliath Resources Ltd. with a Speculative Buy rating, citing the company's exploration progress at its Surebet discovery.

Newell wrote that Goliath had completed more than 150,000 meters of drilling with a reported 100% hit rate for mineralization while continuing to expand the discovery in multiple directions. He said recent drilling had broadened the understanding of the system's scale and geological characteristics.

According to the report, "early skepticism around the geology has given way to a growing recognition of the scale, continuity, and structural complexity of the Surebet discovery, particularly following the company's 2025 and early-2026 drill results."

The report also noted that Goliath was fully funded for its 2026 exploration program and remained focused on expanding known mineralized zones while evaluating potential higher-grade feeder corridors within the system.

Newell described Surebet as "a large, high-grade gold system with vertical and lateral continuity" and wrote that the continuity of mineralization was supported by the prevalence of visible gold observed in drill holes completed to date.

Regarding valuation, the report stated that "upside objectives focus first on the area near CA$4.10, followed by a larger measured target around CA$8.25." It added that "on a longer-term basis, the structure supports a big-picture objective near CA$11.50 should the market move from early recognition toward full valuation of the discovery."

2026 Drill Program Continues Across Surebet Gold Discovery

Goliath's fully funded 2026 drill program is planned to include approximately 50,000 meters of drilling using seven drill rigs. The program is designed to expand known mineralization laterally and at depth, test the extent of the Surebet Discovery, and evaluate the potential location of the Motherlode Magmatic Gold Feeder Source. 

The company said drilling will continue to extend the Bonanza Zone to the east and northeast while expanding the Surebet Zone to the west and testing additional gold-rich lodes and veins that remain open. Work will also focus on the area where the Surebet, Bonanza, and Golden Gate zones meet.

Directional drilling is being used on selected holes, allowing multiple drill holes to be extended from a single mother hole. According to the company, the approach is intended to reduce drill time and costs while improving drill targeting accuracy.

The presentation also states that the 2025-2026 offseason focused on updating the geological model and completing geochemical investigations to support the 2026 exploration campaign. The work involved Goliath's geological team together with Archer, Cathro & Associates, Colorado School of Mines, Motherlode Consulting, and Oriented Targeting Solutions.

The company also noted that its Golddigger Property now covers 91,518 hectares after a 28% expansion of the land package, providing control of 56 kilometers of the Red Line geological trend.

Ownership and Share Structure²

Management and insiders owned 20% of the company on a partially diluted basis, while strategic and institutional investors collectively held 35.0%, including Crescat Capital, a Global Commodity Group (Singapore), McEwen Inc. (MUX:TSX; MUX:NYSE ), Waratah Capital Advisors, Deutsche Bank AG, US Global Investors Inc., Rob McEwen, Eric Sprott, and Larry Childress.

The remaining shares were held by other institutional funds and retail investors. Goliath has 177 million shares issued and outstanding with a market capitalization of CA$242 million, or approximately US$171 million, and a 52-week trading range of CA$1.265 to CA$3.54.