Gold Discovery Expands 38% as 34,990-Meter Drill Campaign Hits Mineralization in Every Hole

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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 2026 drilling at the Surebet Discovery on its 100%-owned Golddigger Property in British Columbia's Golden Triangle expanded both the Golden Gate and Bonanza Zones.

The Golden Gate Zone mineralized footprint increased to 1.17 square kilometers, up 38% from 0.85 square kilometers before the 2026 drilling program. Multiple step-out drill holes extended the zone by another 160 meters to the northeast beyond a previously reported 320-meter expansion. The total 2026 expansion reached 480 meters on the northeastern side and 540 meters on the southwestern side of the Surebet system, for a combined 1,020 meters.

The expanded Golden Gate Zone has a strike of 1.6 kilometers east-west and 1.5 kilometers north-south. It contains 18 veins/lodes up to 14 meters thick, with a combined thickness of up to 49 meters. Previously reported intercepts include 34.52 grams per tonne 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.

Mineralization in drill core from the northeastern expansion included numerous sets of quartz-sulphide veins and veinlets hosted in andesitic volcanic rocks. The company reported gold visible to the naked eye, along with sphalerite, galena, and pyrrhotite, as well as trace pyrite and chalcopyrite. Hole GD-26-424 returned up to 10.90 g/t AuEq over 6.00 meters from the expanded area. Assays from additional drilling remained pending.

At the Bonanza Zone, quartz-sulphide mineralization in multiple step-out holes expanded the zone by another 160 meters to the northeast. Combined with a previously reported 750-meter expansion on the southwestern side of the Surebet system, the company reported 910 meters of expansion at Bonanza during 2026.

The Bonanza Zone mineralized footprint increased to 1.51 square kilometers, 19% above the 1.27 square kilometers defined before the 2026 program. The expanded zone has a strike of 1.8 kilometers northwest-southeast and 1.8 kilometers northeast-southwest.

Bonanza contains five veins/lodes up to 19 meters thick, with a combined thickness of up to 27 meters. Previously reported drilling included an intercept of 8.35 g/t AuEq, consisting of 8.31 g/t gold and 2.30 g/t silver, over 23.00 meters in hole GD-24-280.

Drill core from the northeastern expansion contained gold visible to the naked eye, along with semi-massive to massive sphalerite, galena, chalcopyrite, and pyrrhotite in intervals of up to 15.00 meters. The company described the mineralization as occurring in sheared quartz-sulphide veins and breccias. Assays are pending.

Mineralization from the southwestern expansion also contained visible gold and semi-massive to massive sphalerite, galena, chalcopyrite, and pyrrhotite. Broad intervals reached up to 11.35 meters in hole GD-26-411, with assays pending.

The combined footprint of the Surebet system, including the expanded Golden Gate and Bonanza zones, reached 2.01 square kilometers, representing a 12% increase from the 1.8 square kilometers defined before the 2026 season.

Goliath reported that visible gold had been intersected in multiple veins and shear zones in 34 of the 59 holes drilled during 2026. All holes completed during the 2026 drill campaign had intersected quartz-sulphide mineralization, which the company said generally corresponded with high-grade gold mineralization.

As of the August 24 announcement, Goliath had completed 59 of 98 planned drill holes for a total of 34,990 meters during 2026. The fully funded program comprises approximately 50,000 meters of systematic drilling using seven drill rigs.

"We started the 2026 drilling campaign to test the limits of the Surebet Discovery system with substantial step-out holes," Goliath founder and CEO Roger Rosmus said in the company's August 24 news release. "We look forward to reporting further assays from our 2026 drill program as they become available."

Gold Holds Near Three-Month High as Investors Watch Inflation and Interest Rates

According to Trading Economics data provided for August 26, gold traded at US$4,622.89 per ounce, representing a 13.39% increase over the previous month and a 36.07% increase over the previous year. The market data provider said gold had eased below US$4,650 per ounce while remaining close to three-month highs as investors awaited the latest U.S. Personal Consumption Expenditures price index report and Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole symposium.

Trading Economics reported that investors had also assessed the U.S. Treasury's decision to double liquidity-support buyback operations for longer-dated notes and bonds, which had helped push the dollar to a more than three-month low during the previous week. Oil prices had declined for a third consecutive session, easing inflation concerns. Investment demand had also remained a factor internationally, with China's net gold imports through Hong Kong rising approximately 11% month over month in July.

"Gold is one of the most widely followed precious metals and is often regarded as a safe-haven asset during periods of economic uncertainty, inflation, and geopolitical risk," Trading Economics stated. It described gold as serving both investment and consumer markets, with demand coming from financial markets, jewelry consumption, and industrial uses.

Fiona Craig reported on August 26 that gold prices had edged lower but remained close to a three-month high, with declining U.S. Treasury yields and weaker oil prices easing inflation concerns. Gold had risen more than 7% over the preceding week.

"Because bullion does not generate interest, elevated yields can reduce its appeal relative to income-producing assets," Craig wrote. "Conversely, lower yields can make gold comparatively more attractive."

Craig also reported that concerns surrounding government borrowing, fiscal policy, and the long-term purchasing power of currencies had reinforced demand for gold as an alternative store of value. Attention had turned to the PCE inflation report and Warsh's Jackson Hole speech for further information about inflation and the direction of monetary policy.

In another August 26 report, Michael Fisher wrote that gold had traded modestly below US$4,650 while remaining within the previous session's trading range. He said market expectations had shifted toward no change in Federal Reserve policy at the September 15-16 meeting following evidence of moderating inflation and a softening labor market, while lower U.S. bond yields had provided support for bullion.

"The evolving rate outlook is expected to be a key driver for both the Greenback and gold prices," Fisher wrote. His technical assessment said gold had moved through the US$4,500 level, which coincided with the 200-day Simple Moving Average and the 38.2% Fibonacci retracement of the March-June decline. He reported that the Relative Strength Index stood near 72 and that the Moving Average Convergence Divergence indicator remained in positive territory.

Analysts Point to Surebet's Expanding Footprint and Mineralized Continuity

Stifel analyst Cole McGill highlighted the expanding footprint and continuity of Goliath Resources Ltd.'s Surebet discovery in a July 15 research note, focusing on step-out drilling that extended the Bonanza shear structure approximately 750 meters to the southwest. Assays from that drilling were still pending when the note was published.

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. He added that additional step-out drilling "has the ability to put upward pressure on total ounce count of property."

Following a site visit, McGill said his confidence had increased in "a high grade, potential ~1.5MMoz 'central corridor' of mineralization where Bonanza/Surebet intersect, with heightened grade/continuity."

McGill also assessed Goliath's valuation against his exploration estimate. "GOT trades at US$30/oz, our exploration target," he wrote. His exploration target, established in a January 20 note, was 4.3 million ounces.

The analyst compared Surebet's early drilling with the former Great Bear Resources' Dixie project, which was acquired by Kinross Gold Corp. (K:TSX; KGC:NYSE) in 2022 for US$1.45 billion. "Surebet's first 150 holes look similar to the former Great Bear Resource's Dixie," McGill wrote. "Surebet's first 150 holes averaging @ 124 g/m, versus Dixie's LP Zone at 129 g/m, just a 4% difference."

On August 7, McGill assigned Goliath a CA$4.25 price target and a BUY recommendation.

¹John Newell of John Newell & Associates also emphasized the scale and continuity of the Surebet system when he initiated coverage of Goliath with a Speculative Buy rating in a February 24 report.

Newell noted that more than 150,000 meters had been drilled with a reported 100% hit rate for mineralization, while drilling continued to expand the discovery in multiple directions.

"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," Newell wrote.

He described Surebet as "a large, high-grade gold system with vertical and lateral continuity" and pointed to the prevalence of visible gold in drill holes completed to date as support for the continuity of mineralization.

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

His report identified several valuation levels. "Upside objectives focus first on the area near CA$4.10, followed by a larger measured target around CA$8.25," Newell wrote. He 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."

Drilling, Relogging, and Pending Assays Set the Next Work Program

Goliath's August 18 Golddigger Property presentation described the 2026 drill program as fully funded for approximately 50,000 meters. The program is focused on expanding the 46 mineralized veins/lodes identified at the Surebet discovery, which remains open laterally and at depth.

The presentation identified the Bonanza Zone as one area of the ongoing expansion program. Bonanza can be seen outcropping at surface on the north face of the mountain, with the presentation showing the zone outcropping for 2.8 kilometers and remaining open.

The company is also carrying out a 2026 relogging program based on updated vein modeling. As part of that work, historical hole GD-24-237 was identified with a five-meter interval from 629 to 634 meters at the Golden Gate Zone, for which assays were pending. The presentation described intense veining in the volcanic package, with Golden Gate-style quartz-sulphide veins hosted in sheared andesite. The interval was described as lying on trend with GD-24-254, located 200 meters away, which returned 12.67 g/t AuEq over five meters.

The 2025-2026 offseason included geochemical investigations, updates to the geologic model, and planning for the fully funded 2026 summer drill and exploration campaign, which is now underway. The modeling work involved Goliath's geological team along with Archer, Cathro & Associates (1981) Limited on the Leapfrog model, regional structural mapping and mineralization; Colorado School of Mines on geochemical, petrological, and geochronological studies; Motherlode Consulting on conceptual structural vein and lithological modeling; and Oriented Targeting Solutions LLC on structural geometry from core.

The presentation also described a comprehensive litho-structural model comprising seven units and seven faults. The model was built using lithology logging data from 8,139 intervals and downhole structural measurements from oriented core.

Goliath had also expanded its Golddigger land package by 28%, from 66,023 hectares to 91,518 hectares, giving it control of 56 kilometers of the Red Line. The expanded land package included ground described as amenable to reduced intrusion-related gold mineralization, including the newly discovered Blue Origin. A large portion of the acquired ground covers northern icefields where new outcrop showings had recently been exposed as snowpack and glaciers melted.

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$327 million, or approximately US$235 million, and a 52-week trading range of CA$1.265 to CA$3.54.

Frequently Asked Questions

What did Goliath Resources announce about the Surebet Discovery in 2026?

Goliath Resources Ltd. reported that 2026 drilling expanded the Golden Gate and Bonanza zones at the Surebet Discovery on its 100%-owned Golddigger Property in British Columbia's Golden Triangle. The Golden Gate mineralized footprint increased to 1.17 square kilometers, while the Bonanza footprint increased to 1.51 square kilometers.

How much did Goliath Resources expand the Golden Gate Zone?

The Golden Gate Zone mineralized footprint increased 38%, from 0.85 square kilometers before the 2026 drilling program to 1.17 square kilometers. Step-out drilling produced a total 2026 expansion of 1,020 meters, consisting of 480 meters on the northeastern side and 540 meters on the southwestern side of the Surebet system.

How much did the Bonanza Zone expand at Goliath's Surebet Discovery?

The Bonanza Zone mineralized footprint increased 19%, from 1.27 square kilometers before the 2026 drilling program to 1.51 square kilometers. Goliath reported 910 meters of expansion at Bonanza during 2026.

How large is the Surebet Discovery mineralized footprint?

The combined footprint of the Surebet system, including the expanded Golden Gate and Bonanza zones, reached 2.01 square kilometers, representing a 12% increase from the 1.8 square kilometers defined before the 2026 drilling season.

What were the high-grade gold intercepts reported at the Golden Gate and Bonanza zones?

The Golden Gate Zone contained previously reported intercepts of up to 34.52 g/t AuEq, consisting of 34.47 g/t gold and 3.96 g/t silver, over 39.00 meters in hole GD-24-260. At Bonanza, previously reported drilling included 8.35 g/t AuEq, consisting of 8.31 g/t gold and 2.30 g/t silver, over 23.00 meters in hole GD-24-280.

Has Goliath Resources found visible gold at the Surebet Discovery?

Yes. Goliath reported visible gold in multiple veins and shear zones in 34 of the 59 holes drilled during the 2026 program. All drill holes completed during the 2026 campaign had intersected quartz-sulphide mineralization.

How much drilling is Goliath Resources completing at the Golddigger Property in 2026?

Goliath's fully funded 2026 program comprised approximately 50,000 meters of systematic drilling using seven drill rigs. As of the August 24 announcement, 59 of 98 planned drill holes had been completed, representing 34,990 meters of drilling.

What is Goliath Resources targeting with its 2026 gold drilling program?

The program was designed to expand known mineralization laterally and at depth. Expansion drilling focused on the Bonanza, Golden Gate and Surebet zones and other gold-rich mineralized lodes and veins that remained open. The program also included testing for the Motherlode Magmatic Gold Feeder Source.

What is Goliath Resources' 2026 relogging program at Surebet?

The 2026 relogging program was based on updated vein modeling. Historical hole GD-24-237 contained a five-meter interval from 629 to 634 meters in the Golden Gate Zone with assays pending. The interval was on trend with GD-24-254, approximately 200 meters away, which returned 12.67 g/t AuEq over five meters.

Where is Goliath Resources' Golddigger Property?

The 100%-owned Golddigger Property is located in the Golden Triangle of British Columbia. The property covered 91,518 hectares following a 28% expansion of the land package and included 56 kilometers of the Red Line.

What is the outlook for the gold sector in August?

Gold traded at US$4,622.89 per ounce in the August 26 Trading Economics data provided, up 13.39% over one month and 36.07% year over year. Gold remained near three-month highs as investors monitored inflation, U.S. Treasury yields, and Federal Reserve monetary policy.