Goliath investor McEwen boosts position to 2.6%

Executive Summary

• Rob McEwen exercised all his warrants in Goliath Resources Ltd., generating $1,214,285 in proceeds and increasing his direct ownership to 4,445,142 shares (2.6% of total issued and outstanding shares).
• McEwen Inc. remains a cornerstone investor, holding 5,181,347 common shares and 2,590,673 warrants with a strike price of $2.50 expiring March 10, 2026; if exercised, McEwen Inc. would hold approximately 4.5% of the company.
• The company highlights the financial strength provided by these exercises and provides extensive operational updates regarding the Golddigger property, including metallurgy results, infrastructure access, and upcoming drilling plans.

Key Details

• Warrant Exercise: Rob McEwen exercised all warrants for total proceeds of $1,214,285.
• McEwen Ownership Post-Exercise: Direct ownership increased to 4,445,142 common shares, representing 2.6% of total issued and outstanding shares.
• McEwen Inc. Holdings: Holds 5,181,347 common shares plus 2,590,673 warrants.
• McEwen Inc. Warrant Terms: Strike price of $2.50, expiring March 10, 2026. Potential value if exercised is $6,476,683.
• McEwen Inc. Potential Ownership: If all warrants are exercised, McEwen Inc. would own 7,772,020 shares, representing approximately 4.5% of the company.
• Golddigger Property Location: 100% controlled, covering 91,518 hectares in the Eskay Rift, Golden Triangle, British Columbia, within 3 km of the Red Line.
• Metallurgy Results (Surebet Discovery): Gold recoveries from gravity and flotation at a 327-micrometre crush are 92.2%, including 48.8% free gold from gravity alone (no cyanide required). No deleterious elements present.
• Infrastructure and Access:
  • Located near Alice Arm and Kitsault.
  • Permitted mill site on private property.
  • Direct barge access to Prince Rupert (190 km via Observatory/Portland inlet).
  • Kitsault accessible by road (190 km from Terrace, 300 km from Prince Rupert) with barge landing, dock, and infrastructure for 300+ people including high-tension power.
  • Dolly Varden silver mine road is 7 km east; Alice Arm barge landing is 18 km south; high-tension power is 25 km east.
• Drilling Status:
  • Completed largest fully financed drill campaign to date in 2025: 64,364 metres.
  • 70 holes with assays pending.
  • Fully financed for another large drill program (40,000–50,000 metres) in 2026.
• Strategic Investors: Crescat Capital, McEwen Inc., Waratah Capital Advisors, Rob McEwen, Eric Sprott, and Larry Childress.

Notable Quotes

• "We want to thank the continued support of all our cornerstone strategic and long-term investors, specifically Rob McEwen for the exercise of his warrants. The funds received of $1,214,285 will further enhance and strengthen Goliath's already healthy financial position." — Roger Rosmus, Founder and CEO