92% Visible Gold, 50,000 Meters Planned and Every Hole Hitting: Inside One of B.C.s Biggest Expanding Discoveries

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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 it has mobilized for its 2026 drill campaign at the Surebet discovery on its 100%-owned Golddigger Property in British Columbia's Golden Triangle. The company stated that the fully funded 2026 drill program will include approximately 50,000 meters of systematic drilling designed to expand known mineralization laterally and at depth, while also testing for a Motherlode Magmatic Gold Feeder Source.

According to the company, expansion drilling will focus on extending the Bonanza Zone and Golden Gate Zone to the east, northeast, and southwest, while the Surebet Zone will be expanded to the west. Additional drilling is planned to test gold-rich mineralized veins that remain open, as well as lithological and structural features linked to magnetic anomalies that the company said may indicate the presence of a causative magmatic intrusion gold feeder source.

Goliath stated that every drill hole completed between 2021 and 2025 within the 1.8 square kilometer Surebet discovery intersected gold mineralization. The company reported that the discovery contains five gold-rich zones comprised of 46 distinct stacked veins that remain open for expansion. Visible gold to the naked eye was reported in 92% of drill holes completed to date.

Founder and CEO Roger Rosmus stated in the company news release, "Our team is convinced that we have a unique high-grade gold discovery that is highlighted by 46 gold-rich stacked gently dipping veins resulting in 5 major mineralized zones defined and modeled based on >1500 pierce points."

The company stated that the Bonanza Zone can be traced on surface for approximately 3 kilometers along the north slope, with a potential extension of 1.3 kilometers to the northeast and 600 meters to the southwest. The Surebet Zone can be traced on surface for 1.1 kilometers along the north slope and 1 kilometer along the south slope.

According to the company, the Bonanza Zone contains five veins up to 19 meters thick with intercepts up to 8.35 g/t gold equivalent (AuEq) over 23.00 meters, while the Surebet Zone contains nine veins with intercepts up to 21.08 g/t AuEq over 23.00 meters. The Golden Gate Zone contains 18 veins with intercepts up to 34.52 g/t AuEq over 39.00 meters. The Whopper Zone contains 12 veins with intercepts up to 32.67 g/t AuEq over 4.00 meters, and the Eldorado Zone contains two veins with intercepts up to 13.93 g/t AuEq over 5.75 meters.

The company also reported that gold-rich Eocene-aged dykes extend for up to 1.4 kilometers north-south with widths up to 25 meters and intercepts up to 12.03 g/t AuEq over 10.00 meters. Goliath stated that metallurgical testing on a composite core sample resulted in recoveries of 92.2% for gold, 86.5% for silver, 94.2% for lead, and 96.9% for zinc through a combination of gravity and flotation methods.

Goliath stated that the Golddigger Property land package has increased from 66,608 hectares to 91,518 hectares and now controls 56 kilometers of the Red Line geologic trend. The company said the property is located on tidewater with barge access to Prince Rupert and near infrastructure, including the town of Kitsault, adjacent to a permitted mine site on private property. Additional details were also outlined in the company's May 11, 2026, Golddigger Property presentation.

Gold Prices Hold Strong as Central Banks, Mining Margins, and Market Trends Stay in Focus

Reuters reported on May 25 that gold prices climbed more than 1% as lower oil prices and a weaker U.S. dollar supported bullion markets following optimism surrounding possible Middle East peace negotiations. Spot gold rose 1.5% to US$4,574.17 per ounce, while U.S. gold futures for June delivery gained 1.2% to US$4,576.00. Reuters also reported that equities advanced while oil prices fell below US$100 per barrel and reached two-week lows.

UBS analyst Giovanni Staunovo told Reuters that "Financial assets are strongly influenced by oil prices at present, and gold prices are not an exception." Staunovo also stated that "Lower oil prices lift gold, in anticipation that it impacts the monetary policy of the Federal Reserve," adding that he expected the trend to continue in the near term.

According to Reuters, gold had declined approximately 14% since late February amid elevated energy prices, inflation concerns, and expectations for higher U.S. interest rates. Reuters also reported that traders were pricing in a 40% probability of a 25-basis-point Federal Reserve rate increase in December.

Stewart Thomson wrote on May 26 that gold had entered what he described as a pause phase following earlier gains against fiat currencies. Thomson stated that "many more beatings on fiat by the world's currency queen lie ahead, but a lull in the action is the current theme and… It's healthy." He also wrote that "it's critical for gold bugs to stay focused on the big picture, and to understand that gold is not a 'hottie stock'."

Thomson stated that leveraged futures traders remained focused on the impact of geopolitical conflicts, oil prices, inflation, and interest rates. He also noted that investor sentiment remained subdued, writing that "periods where morale is subdued coincide with the BPGDM trading under 50."

According to a May 27 report from Kitco News, Doug Moglia, macro and market strategist at Rockefeller Global Investment Management, stated that precious metals had led the broader commodity rally. Moglia said, "Precious metals have been the leader, with gold up 92% and silver more than doubling (+152%) since the start of 2025."

Moglia stated that central bank activity continued to support the gold market, noting that "the result was three straight years of over 1,000 tonnes of gold purchased by global central banks between 2022-2024, representing roughly 20-25% of annual global mine production." He added that gold's price behavior had become "noticeably less sensitive to its traditional cyclical drivers."

The Kitco report stated that Moglia viewed gold as remaining in a longer-term secular bull market. Moglia said, "We believe gold entered its third secular bull market in 2022," adding that "gold remains a secular anchor to portfolios."

Moglia also discussed mining equities, stating that "gold and silver miners offer leveraged upside with improved carry." He further stated that operating margins for the gold and silver miner index were "near 40%, the highest level since 2011," while major miners were expected to generate approximately US$20 billion in free cash flow during 2025.

Analyst Report Discusses Expansion Drilling and Geological Continuity at Surebet

¹According to a February 24 report from John Newell of John Newell & Associates, Goliath Resources Ltd. was assigned a "Speculative Buy" rating. Newell stated that the company had "completed more than 150,000 meters of drilling with a reported 100% hit rate for mineralization and continuing to expand the system in multiple directions."

The report discussed the geological interpretation of the Surebet discovery, stating that "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 also stated that the company was "fully funded for its 2026 exploration campaign and continues to prioritize expansion of known zones while vectoring toward potential higher-grade feeder corridors within the broader system."

In describing the mineralized system, the report referred to Surebet as "a large, high-grade gold system with vertical and lateral continuity," adding that "the continuity of mineralization is supported by the fact that an overwhelming majority of holes drilled to date contain visible gold to the naked eye."

The February 24 report also outlined several price objectives. According to the report, "upside objectives focus first on the area near CA$4.10, followed by a larger measured target around CA$8.25." The report further stated 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."

On valuation, Newell wrote, "We view Goliath Resources Limited as a Speculative Buy . . . for investors who understand exploration risk and seek leverage to growing gold systems and a rising gold price."

2026 Expansion Drilling Plans

The company stated that the fully funded 2026 drill campaign is designed to expand the footprint of the Surebet discovery both laterally and at depth across all five main mineralized zones. According to the company, drilling will focus on extending the Bonanza Zone and Golden Gate Zone toward the east, northeast, and southwest, while the Surebet Zone will be tested further to the west. The Bonanza Zone currently has a strike of 1.8 kilometers northwest-southeast and 1.3 kilometers northeast-southwest, while the Golden Gate Zone has a strike of 1.6 kilometers east-west and 1.0 kilometer north-south.

The company also stated that additional drilling will target magnetic anomalies and lithological-structural features in the southwestern portion of the system that are associated with a potential Motherlode causative magmatic intrusion gold feeder source. Goliath reported that 17 feeder dykes have been intersected in drill holes or mapped on surface, with 13 remaining to be tested.

According to the company's May 11, 2026, corporate presentation, the 2025-2026 off-season work has focused on geochemical investigations, updating the geologic model, and planning the 2026 summer drill and exploration campaign. The company stated that modeling work has involved collaboration with Archer, Cathro & Associates (1981) Limited, the Colorado School of Mines, Motherlode Consulting, and Oriented Targeting Solutions LLC. 

The company also stated in the presentation that the Surebet discovery contains more than 156,000 meters of drilling with over 1,500 pierce points and that all five main zones remain open for expansion.

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$326 million, or approximately US$203 million, and a 52-week trading range of CA$1.47 to CA$3.54.