2.8 KM Outcropping Zone Remains Open For Gold Expansion as Fully Funded 50,000m Drill Program Nears Launch

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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$3,350
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) outlined details related to the Bonanza Zone at its Surebet Discovery, including its current extent and plans for expansion of all mineralized gold lodes during the company's 2026 exploration program encompassing the vast majority of meters this year. The Bonanza Zone has a strike length of 2.8 km mapped at surface and remains open. According to the company, drilling to date has confirmed a mineralized strike of 1.8 km running northwest to southeast and 1.1 km running northeast to southwest. The zone contains five lodes up to 19 meters thick, with a combined lode thickness of up to 27 meters and grades reported up to 13.53 grams per ton gold equivalent over 11 meters.

The company stated that the sediment volcanic contact has been mapped in outcrop on both sides of the mountain and remains open. This contact could potentially expand the Bonanza Zone by 1.3 km to the northeast and 600 meters to the southwest. The Bonanza Zone is part of a broader mineralized system that remains open.

Goliath also confirmed that its 2026 drill program is fully funded and designed to expand known mineralization at the Bonanza Zone as well as other gold-rich zones at the Surebet Discovery. The company indicated that mobilization for the 2026 program is expected within weeks. The planned program is approximately 50,000 meters of drilling and the vast majority of holes are focused on expansion.

Additional details from Goliath's investor presentation dated April 20, 2026, describe the Surebet Discovery as containing more than 150,000 meters of diamond drilling across more than 1,500 pierce points, with a reported 100% hit rate between 2021 and 2025. The mineralized area has been confirmed over 1.8 square kilometers and includes multiple stacked high-grade gold veins extending over 1.2 km.

Gold Sector Supported by Central Bank Demand and Tightening Supply

The gold sector experienced volatility in early 2026, with price movements influenced by macroeconomic conditions, geopolitical developments, and shifting investor behavior. According to an April 22 report, gold declined more than 10% during March, with moves tied in part to periods of liquidity-driven selling amid rising oil prices and a stronger US dollar. The report noted that "gold has largely defied traditional safe-haven expectations," as price movements did not consistently follow historical patterns during geopolitical stress.

Despite short-term fluctuations, underlying demand trends remained a central factor. The report highlighted continued central bank activity, noting that gold has increasingly been used as a hedge against rising global debt and currency risks. Central banks have significantly increased gold reserves in recent years, with the report stating, "Simply put: Treasuries come with strings attached. Gold does not."

Supply conditions also remained a key element shaping the market. The April 22 analysis indicated that mined gold production has not kept pace with demand, contributing to a structural deficit supported by consumer demand and central bank purchases. It added that total gold demand has exceeded mine production, requiring additional supply from recycling. The report further noted that global mined production has largely plateaued over several years, while remaining reserves are limited, contributing to tightening supply conditions.

Market activity on April 22 reflected continued sensitivity to broader developments. FactSet reported that "gold held onto gains with the market digesting the latest Q1 earnings and US-Iran headlines," indicating ongoing responsiveness to both economic data and geopolitical factors.

From a technical perspective, commentary from Chen Lin on April 22 indicated that gold encountered resistance levels in recent trading. He wrote that "gold tried to break 4800... [and] was pushed back," while also noting that longer-term charts suggested consolidation. He added, "I am still focusing on gold... miners and believe they are very undervalued at the current prices," pointing to continued attention on the mining segment within the broader sector.

2026 Drill Program and Bonanza Zone Expansion Plans

The company stated that planning for the 2026 drill program is near completion, with mobilization expected shortly for a fully funded program totaling approximately 50,000 meters of drilling. The program is focused on expanding the 46 mineralized veins identified at the Surebet Discovery.

The Bonanza Zone has been identified as a key area for potential expansion within the 2026 program. The zone has 2.8 km of strike mapped at surface and remains open. Drilling has confirmed mineralization along 1.8 km in a northwest to southeast direction and 1.1 km in a northeast to southwest direction. The zone includes five lodes with individual thicknesses of up to 19 meters and a combined thickness of up to 27 meters.

The sediment volcanic contact associated with the Bonanza Zone has been mapped in outcrop on both sides of the mountain and remains open. This contact could extend the zone by an additional 1.3 km to the northeast and 600 meters to the southwest.

The 2026 drill program is designed to expand known mineralization at the Bonanza Zone and across other gold-rich zones at the Surebet Discovery. The company stated that the program is also focused on building a resource and vectoring toward the source of the high-grade gold system.

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 173 million shares issued and outstanding with a market capitalization of CA$280 million, or approximately US$203 million, and a 52-week trading range of CA$1.47 to CA$3.54.