Mr. Roger Rosmus reports

STRATEGIC INVESTORS CRESCAT CAPITAL AND MR. ROB MCEWEN PARTICIPATE IN $3,157,193 EXERCISE OF GOLIATH RESOURCE WARRANTS

Goliath Resources Ltd. strategic investors Crescat Capital, owning approximately 14.4 per cent, and Rob McEwen, owning approximately 3.9 per cent, have participated in warrant exercises. Since Jan. 1, 2025, the company has received a total of $3,157,193 in warrant exercises.

There still remains a total of 6,377,964 warrants outstanding that are deep in the money with an average strike price of 65 cents, representing a total of $6,377,964, and all will expire this year, on or before Dec. 29, 2025. This total dollar amount includes $3,601,475 of warrants outstanding that are deep in the money with an average strike price of 68 cents and will expire in the next few months, on or before May 16, 2025.

Roger Rosmus, founder and chief executive officer of Goliath, stated: "We wish to thank the continued support of our strategic shareholders, inclusive of Crescat Capital and Mr. Rob McEwen, as well as our long-term shareholders for their early exercises of warrants. The funds received so far as well as the potential for additional funds of $6,377,964 from deep-in-the-money warrant exercises this year will further enhance and strengthen Goliath's already-healthy financial position."

Golddigger property

The Golddigger property is 100 per cent controlled and covers an area of 91,518 hectares in the world-class geological setting of the Eskay rift, within three kilometres of the Red Line in the Golden Triangle of British Columbia. This area has hosted some of Canada's greatest mines, including Eskay Creek, Premier and Snip. Other significant and well-known deposits in the Golden Triangle include Brucejack, Copper Canyon, Galore Creek, Granduc, KSM, Red Chris and Schaft Creek. Goliath controls 56 kilometres of the Red Line, which is a geologic contact between Triassic-age Stuhini rocks and Jurassic-age Hazelton rocks used as key markers when exploring for gold-copper-silver mineralization.

The Surebet discovery has exceptional continuity and excellent metallurgy, with gold recoveries of 92.2 per cent with 48.8 per cent of it as free gold from gravity alone at a 327-micrometre crush (no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements are present, such as mercury or arsenic.

The property is in an excellent location, in close proximity to the communities of Alice Arm and Kitsault, where there is a permitted mill site on private property. It is situated on tidewater with direct barge access to Prince Rupert (190 kilometres via the Observatory inlet/Portland inlet). The town of Kitsault is accessible by road (190 kilometres from Terrace and 300 kilometres from Prince Rupert) and has a barge landing, dock and infrastructure capable of housing at least 300 people, including high-tension power.

Additional infrastructure in the area includes the Dolly Varden silver mine road (only seven kilometres to the east of the Surebet discovery) with direct road access to Alice Arm barge landing (18 kilometres to the south of the Surebet discovery) and high-tension power (25 kilometres to the east of Surebet discovery). The city of Terrace (population 16,000) provides access to railway, major highways and airport with supplies (food, fuel, lumber), while the town of Prince Rupert (population 12,000) is located on the West Coast and houses an international container seaport also with direct access to railway and an airport.

Qualified person

Rein Turna, PGeo, is the qualified person, as defined by National Instrument 43-101, for Goliath Resources' projects and supervised the preparation of, and has reviewed and approved, the technical information in this release. Mr. Turna is also a director of the company.

Option grant and restricted share unit grant

The company has granted a total of 2.6 million stock options for a five-year period to advisers and consultants priced at $1.88 per share. Goliath has also granted an aggregate of 2.35 million restricted share units to officers, directors and a consultant of the company, which will vest equally over three years, with first vesting occurring after one year. The grant of options and the grant of restricted share units are subject to the company's omnibus equity incentive plan.

About Goliath Resources Ltd.

Goliath Resources is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. All of its projects are in high-quality geological settings and geopolitically safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM (Center to Advance the Science of Exploration to Reclamation in Mining), which is an organization that represents a collaborative venture between the Colorado School of Mines and Virginia Tech. Goliath's key strategic cornerstone shareholders include Crescat Capital, McEwen Mining Inc., Mr. McEwen, a global commodity group based in Singapore, Eric Sprott and Larry Childress.

We seek Safe Harbor.