Goliath investor McEwen boosts position to 2.6%

Mr. Roger Rosmus of Goliath reports ROB MCEWEN A CORNERSTONE STRATEGIC INVESTOR INCREASES DIRECT OWNERSHIP IN GOLIATH RESOURCES LIMITED Goliath Resources Ltd. investor Rob McEwen has increased his direct ownership by exercising all of his warrants for total proceeds of $1,214,285. This exercise takes Mr. McEwen's direct ownership to 4,445,142 common shares of the company representing 2.6 per cent of the total issued and outstanding shares. McEwen Inc. (Toronto Stock Exchange: MUX, New York Stock Exchange: MUX), an additional cornerstone strategic investor, holds 5,181,347 common shares in Goliath plus 2,590,673 warrants. These warrants have a strike price of $2.50 expiring March 10, 2026, representing $6,476,683 and if exercised, McEwen Inc. would own directly 7,772,020 of the company or approximately 4.5 per cent. Roger Rosmus, founder and chief executive officer of Goliath, states: "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." About Golddigger property The Golddigger property is 100 per cent controlled and covers an area of 91,518 hectares in a highly prospective geological setting of the Eskay Rift, within three kilometres of the Red Line in the Golden Triangle of British Columbia. This area, in close proximity to the Red Line, has hosted some of Canada's greatest gold 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 predictable continuity and good metallurgy with gold recoveries from gravity and flotation at a 327-micrometre crush of 92.2 per cent including 48.8 per cent free gold from gravity alone (no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements are present (see news release dated March 1, 2023). The property is in a well-positioned 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 tide water 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, 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, et cetera), while the town of Prince Rupert (population 12,000) is located on the West Coast of British Columbia and houses an international container seaport also with direct access to railway and an airport. About CASERM (Center to Advance the Science of Exploration to Reclamation in Mining) Goliath Resources is a paying member and active supporter of the Center to Advance the Science of Exploration to Reclamation in Mining (CASERM), which is one of the world's largest research centres in the mining sector. CASERM is a collaborative research venture between Colorado School of Mines and Virginia Tech that is supported by a consortium of mining and exploration companies, analytical instrumentation and software companies, and federal agencies aiming to transform the way geoscience data are acquired and used across the mining value chain. The centre forms part of the I-UCRC program of the National Science Foundation. Research focuses on the integration of diverse geoscience data to improve decision making across the mine life cycle, beginning with the exploration for subsurface resources continuing through mine operation as well as closure and environmental remediation. Over the past three years, Goliath Resources' membership in CASERM has allowed a high level of research to be performed on the Surebet discovery. Qualified person Rein Turna, PGeo, is the qualified person as defined by National Instrument 43-101, for Goliath Resource projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release. Mr. Turna is an independent director of the company. About Goliath Resources Ltd. Goliath Resources is an explorer of precious metals projects in the highly prospective Golden Triangle of northwestern British Columbia. All of its projects are in high-quality geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath recently completed its largest fully financed drill campaign to date for a total of 64,364 metres in 2025 and has 70 holes with assays pending. It is fully financed for another large (40,000- to 50,000-metre) drill program in 2026. The company's key strategic cornerstone shareholders include Crescat Capital, a global commodity group (Singapore), McEwen Inc. (NYSE: MUX) (TSX: MUX), Waratah Capital Advisors, Rob McEwen, Eric Sprott and Larry Childress. We seek Safe Harbor.