Goliath Resources – Consolidated 2025 Drill Assays Released Including Multi-Element Assays Increased Gold-Only Values By 16.5 Percent

Hello and welcome to the K.E. report. I'm your host, Shad Markwoods, and today we're getting an update on Goliath resources.

Goliath is traded on the TSX-V under the ticker, G-O-T, and on the OTC-Q-B under the ticker, G-O-T-R-F.

And I'm joined today with the founder and CEO of Goliath Resources, Roger Rosmos, and Roger. It's great to have you on the show, as always.

We thought we'd do today's as a video update, just to give people some images to look at as we talk through some of the recent expiration results that kept coming back in from the 2025 season.

What we have up here, front and center for you all, is the Sherbet Discovery on your land package, is where all the action is, that's where all the drilling was, you drilled 110 holes in 2025, and now we've started getting back some of the multi-element results.

So, I guess just to kick us off and orientate this, for people that are not familiar with the Sherbet Discovery on your gold digger property, just remind them of how this project has grown over the years.

Sure, yeah, Shad. Thanks for having me here. Just getting ready. It was in Toronto now.

We had a free PDAQ meetings, and we had one heck of a season last year, 110 holes. As you say there, we pretty much, like, close to 90% of them had a visible gold to the naked eye.

We pointed VG and E. So, in total, we've got over 155,000 meters put into the system, so far to date.

Again, the big star here on the gold digger property is our Sherbet, where, again, most of the action is taking place where the new discoveries happened.

We're based out of the town here at Kitsald, where you can actually drive to, in about three and a half, four hours through Terrace, BC, which is just to the south here.

It's about an hour and a half flight north of Vancouver on the west coast, northwest British Columbia.

And it's about a 10 minute helicopter ride from Kitsald into the Sherbet area where all the pads are and all the drilling is taking place.

So, we've expanded the system quite nicely this year. I can quickly share another nice image here just really sums up the year's work, how we've really expanded the various loads and zones from 2024.

92,000 meters, and then obviously the 64,300 meters last year in change, how we've actually expanded the system quite substantially, I would say.

It still remains open, so, you know, laterally and at depth. But, you know, as we can see here, just sort of oriented, you're looking sort of north this year.

And, you know, here's the Sherbet, you know, that was the outcrop discovery that we drilled in 2021. And then, you know, fast forward to, you know, 2025, we, you know, still have 100% hit rate within the system.

We've now have it down into five zones comprising of 46 veins, essentially, up here in the mountain, you're in the sedimentary package.

The purple here, that's our banana zone, which is a contact between the sediments above and mechanics below.

And then below that, obviously, volcanic, which is we call the golden gate zone. And, you know, we've been very, I guess, blessed with a lot of visible gold here to the naked eye.

Another great image here is this the BG heat map. And you can see here, we have visible gold essentially disseminated throughout the entire mountain, which is great to see that it's just not in one place.

It's just not in one particular pocket. It's not in, you know, three different styles of rock package.

It's in the sedimentary groove. It's in the mechanics. It's in the contact as well. So, um, hence of the, it's close to 400 drove holes.

We've got about a 92% hit rate of the the BG and in here. So, obviously, it's nice to see in the core as we're, you know, sampling logging and so on and sending that off to the lab for asset.

Well, it's pretty amazing that you have that much visible gold of the naked eye, but it's also amazing that you have 100% hit rate.

I don't think most expiration companies can say either of those two statements, but if you pull up the prior image, the one that has the different zones on it, the different loads.

Sure. I can do that for sure. I think it's interesting that when you look at the volcanic versus the contact versus the sediments above and where they all connect, just how you've really dialed this in.

And I remember the first call we did together when you first talked about the golden gate zone, what a mic drop moment that was like, oh, wow, the mineralization extends down below.

So that green area, I guess the dark green down below is the gold mechanics now.

Really, what's carrying most of the gold thus far, though, is that purple zone, right? The bananza.

I mean, it's in all of it, but still.

Yeah, it's in all of it. Getting like these higher grade zones, I certainly were the hinge, I guess were these two were the various zones meet call like a hinge zone essentially.

But, you know, up here, higher up in the system, we're seeing more base metal, so the silver copper led and zinc.

And then as we're coming down into the system closer to the contact, we're seeing less of the base metals, more bismuth, teleride and copper.

And obviously the gold gets coarser as well.

So, you know, that would tell us that we're, you know, getting, I guess, more proximal to the source of the system.

And, you know, with the work that the Colorado School of Minds have done for us, you know, they've done dating of all the various zones that we've got the dikes as well, which were all pretty much in place around the same time.

Sort of their eocene age, so around 52 million years old, plus or minus.

So, you know, every year, you know, we just learn more and more about the system.

You know, think about it when we drill this in 2021, we just had this yellow sherbet outcropping for two kilometers wrapping around the mountain.

And now, like in a loan behold, now we are up to, you know, 46 stack veins in the five various zones.

And, you know, hence to the 100% rate, just the nature of it being stacked, you know, ultimately we can hit multiple veins on the way through.

Or if we're going to be drilling further down, like said on the side of the mountain, you know, we'd be maybe hitting one or two type of thing.

And that's really the reason why we do have that 100% hit rate, just the nature of the beast here.

Well, in the bismuth and salirium and things like that are the pathfinder elements for the reduced intrusion.

So, in addition to those stacked veins, you mentioned that there is the dikes that have mineralization.

Those are a system that, just for people that haven't been following along, nobody thought there was any gold in those.

And now there is. So, it's interesting, maybe talk about the different kinds of mineralization in addition to these different zones.

Yeah. So, you know, the, again, color out of school of mines.

They've determined the, certainly well, what they've tested is did the gold that's in the, these various veins come from a cooler magma source.

And then the gold that's actually in the, in actual dikes themselves actually have it, they come from the hotter magma gold.

So, we think that, well, as we get sort of further down to the south east here, again with the, these pathfinder elements are kind of pointing that, hey, this could be.

You know, where that causative intrusive body might be. So, as we continue to expand in 2026, you know, we'll just keep on stepping out, stepping out, stepping out.

And, you know, possibly, you know, we, you know, fingers crossed, we might drill into that mother load causative intrusive source.

Well, just at that point, there's a lot of scuttle about about that on the internet, Roger.

And so you've made the point and it's maybe worth reiterating that whether you find it or not, you've got a mountain of gold here.

But if you find it, it's a great kicker, but you can see those red arrows showing that it's open.

Does the geo chemistry show you which direction you think it is or could it be in any of those directions?

Well, it's it's actually kind of pointing to the southeast here, but we're, you know, we're seeing on the, from the analysis that the, you know, our team has done as well, you know, collaboration with the color out of school of mines.

So we're all thinking that it could be off here to the southeast possibly again.

This could be a death or it could be a lateral, you know, it's, it's one of these things, it's exploration again.

This was a grassroots discovery, never been drilled before.

So every year we learn new, new things about the system and, you know, which makes us to, you know, being able to really had come up with really good plans for the, you know, the following year.

To drill and ultimately, you know, we're not using any kind of technology to kind of look for blobs this that the others, we know the system is there.

It's the continuity is there. We're hitting him the various veins, you know, plus or minus five to 10 meters.

So it's very predictable, very robust and we'll just kind of continue just to follow these things out and out and out and hopefully again, we, you know, maybe we drill into it.

Maybe we don't, but ultimately, you know, the idea is to really continue to expand on the known horizons.

Well, I'm just looking at this. I was going to ask you is there any specific area that you're going to be drilling this season, but it looks like you're just going to be stepping out and seeing how big the system is, which brings up the discussion.

People always want to know why aren't you putting out a resource yet, but to the point on this map, you don't know where the edges of this thing are.

Correct. And you know what, if you look at how these things are dipping, you know, sure about, you know, dipping to the south, west, bananas, it to the southeast.

And maybe there's potentially two sources here that maybe, you know, connected somewhere, laterally or adapt, but, you know, you've got all these various dipping veins in different directions.

So one, you know, one theory could be is, you know, there may be two separate sources that are connected somewhere in the area as well.

Type of things. So it's again, it's exploration, mother nature, you know, obviously it's given us a great gift here with all the visible gold.

So you think about the system, how big it is. So the area is about 1.8 square kilometers in total.

So you figure out like how big would that engine have to be to, you know, thrust all of this mineralization up into this mountain range, which, you know, the peak of the mountains about 1700 meters above sea level.

So we're thinking the source is going to have to be probably three to four times larger than what we see here or what we know today.

So this could be just for scratching the scratch in the surface here to the iceberg.

Yeah, it had to be a monster of a system to do that. And so the question is how far down would it go, you know, if it's too far down, it wouldn't be economic.

But it's got to be a monster engine. And it's produced a lot of gold here. So, but it's also got other elements.

So we haven't really gotten into this yet to some of the multi element readings. I'll just bring up the one from the 24th of February, where you talked about 24 grams per ton gold equivalent over seven meters.

The grade values increased by almost 20% at 19.6% and 56 gold equivalent drill results. But you said the overall property actually had a roughly 16% grade increase with all the holes.

I guess talk multi elements talk some of the other metals that are in the mix and how they complement the picture.

Yeah, the multi elements basically obviously with silver lead zinc and copper, ultimately, whether pricing action has taken it, we saw an overall increase in value in the system.

We have the gold only because we're using the pair or the photon assay pardon me. And then finally, we just got our multi elements with the last piece of news release you're referring to 56 holes were announced the overall grade increase.

We got a boost of essentially 16% on average on 110 holes, but obviously the bank, the main value is gold. And then you got silver copper lead and zinc.

Yeah, so just other metals in the mix there, contributing obviously gold is the main payable, but all those metals are doing well on their own right. It's nice to have silver nice to have copper nice to have some of the other metals.

So basically 2025 has it mostly wrapped up them with all of those multi elements coming in, complementing the gold values we had. Is there anything else from last year that's still remaining to report.

No, everything is out at this point and actually just one another image here we can show just to hear.

I mean, all this is on the in the presentation on our website as well, but just give you an idea how thick the various zones are how many veins are contained within those zones.

And just, you know, nice, the scale bar here just to show you the, you know, how large it actually is. So, so here's a giving idea of again, how thick they are some of the grades that we're getting to, you know, as far as the up to numbers, obviously finance a 8.35 grams gold equivalent over 23 meters.

And then golden gate obviously has that that walker of a whole 34.52 grams of gold equivalent over 39 meters.

As far as the, you know, news to date, we pretty much summed it up will mobilize here probably in in May and a May start drilling in June.

We are actually fully funded. We just file our quarterly statements here.

So December shows us with about 53 million dollars of cash and liquid securities, those liquid securities is primarily the MUX shares that we did.

I did that financing with McEwan mining or McEwan Inc now about a year ago, March, we did a $10 million strategic financing. We took McEwan stock, the MUX stock at $11.50 Canadian.

And I think that printed about $39 on Friday last week or it has been as high as 39.

So pretty good investment there to triple the investment on those equities.

Yeah, no, it's great. You know, obviously, basically, you know, non-deluda financing for the company, which is, which is always nice to do.

Well, and speaking of Rob McEwan, you put out some news literally today here on the 28th that I should hit that you're proposing to extend the terms of the warrants.

So that would, I guess, bring some more money into the treasury, right?

Yeah, no, definitely would bring a close to $7 million into the treasury as well, which is always nice.

And, you know, whether we get TSXB approved or not, you know, we'll see.

But, you know, hope is, you know, we file the documentation there, I guess yesterday.

And ultimately, we have to part of that was we have to put a press release.

So I just, you know, had a moment, obviously a prior to our call here to get that on the wire.

Well, it just brings up the point that if that can be approved, that you'd get up close to 60 million then roughly, right?

Because you'd add the 53.

Oh, that's great. Yeah.

Yeah. Thanks.

So in the, you know, this season, we'll probably end up drilling.

And a little plan is we have seven rigs.

And, you know, our cost all in is roughly, you know, for easy math.

Let's just use 600 bucks. It's more like 550, but let's use six.

So you know, we'll spend probably 30 million of that this year in drilling.

Okay. Well, that was my next question. So you're a reminder to there.

I was going to ask you what, what can you do with that money and what's the plan for this year?

So, well, there's a lot to keep tabs on.

I know you're going to be busy at the MIF and at the PDAC events here coming up.

So anything else you want to say to investors as far as the value proposition for Goliath or as far as when can the drilling start for this year?

Because people are chomping at the bit for the drill bit.

Sure. Yeah. I would say, you know, if you want to come down where we're, we have a booth for four days during PDAC, starting Sunday going through to Wednesday, Wednesday being a half day.

And then we're also in the core shack Tuesday and Wednesday as well.

Randall and the Simone will be taking care of that.

And then we've got a team of geologists is here. So people want to come down and perhaps grab a cap or two.

Check out some of the core talk to some of our geos and there's some more technical type of folks that want to engage in that type of discussion.

It's a perfect venue for that. And yeah. So really people just need to hang tight here.

We'll get the rigs go on here in June. Hopefully we'll have some assays maybe sometime in July.

And you know, with expectation that you will continue to expand on the known system here and and make this make it as big as possible.

Are you going to be doing any other modeling internally as far as like you've already updated the model a lot over the last year or two.

But is there anything else that has to happen on like desktop work while while in between the drill seasons?

Oh, yeah. No, we're going to we're basically still in, you know, planning the 2026 program.

We do know they're going to do again close to 50,000 meters. We do have seven rigs teed up.

One thing that we are considering is doing some of this directional drilling as well.

So that will be interesting certainly around more this kind of again, around these hinge zone type areas where we're getting some really super high grade material.

So that'll be able to get us some nice little step outs in there.

Just to define that Roger, the directional drilling is where you drill a hole like at the mother hole and then you can have little feeders off of it.

So basically you drill it once but then you can go different directions with it.

So you save a lot of money on drill meters that way, right?

True. I mean, it's slower. I mean, you know, the pilot hole will be, you know, call it 850 meters, 1000 meters.

And then again, we can like sort of branch off on those multiple times. So.

And the team that we've got that you don't propose to do it, you know, they've done quite a bit of this type of drilling before.

And there's actually one group that specializes that helps the drillers out when it comes to they've got their proper tools.

So I think it would be very effective.

And you know, some of the other explorers in the area have been utilizing that technique.

And you know, they've year after year, they have actually hit their various targets that we're looking for.

So we're hoping to see that the same type of success in 2026.

Yeah. So there's some interesting results where people have used that before and maybe drilled one direction and didn't hit anything switched up direction as they're already done in the hole and said, oh, there it is.

And so it helps you violin on the mineralization. So just an interesting addition potentially for this year season.

So I guess we'll wrap it up there for today. Good luck at the conference season. Thanks for doing a video update here showing people the map, showing people how much the resources grown over one year.

It's amazing. And with the drilling teed up, I guess we're going to see another blob next year that's even more filled in. So looking forward to that.

So that's the chat for sure.

All right. Well, have a good conference season and we'll catch you on the next one.

Sure. Thanks so much.