Goliath Resources Ltd V.GOT

Alternate Symbol(s): GOTRF

Metals & Mining Industrial Metals & Minerals

Goliath Resources Limited is a Canada-based junior resource exploration company. The Company is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and Abitibi Greenstone Belt of Quebec. The Company owns 100% of the Golddigger property that covers an area of 52,756 hectares. The Homestake Ridge Deposit (Fury Gold Mines Limited), Dolly Varden Silver Mine (Dolly Varden Silver Corp.), and the Kinskuch Project (Hecla Mining Company) are in close proximity. The Golddigger Property consists of contiguous mineral claims located approximately 30 kilometers southeast of Stewart with tidewater access on Hastings Arm in the Golden Triangle of Northern British Columbia. The Luckystrike Property is located 40 kilometers north of Terrace, British Columbia. The Company also owns a 10% interest in the DSM Syndicate projects. It has six mineral claim blocks under Goliath’s Nelligan East Project and Nelligan West Project.

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Goliath Resources Ltd

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Post by yukon_goldon Sep 18, 2024 9:06pm

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Post# 36230206

Goliath Upsizes Non-Brokered Placement to $15,725,500

Goliath Upsizes Non-Brokered Placement From $14,725,000 To $15,725,500 As Strategic Investor Mr. Larry Childress Increases Share Purchase From 1,000,000 To 1,400,000

Toronto, Ontario – September 18, 2024 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to announce it has increased the previously announced non-brokered flow through financing from $14,725,000 to $15,725,500 as strategic investor Mr. Larry Childress has agreed to increase his purchase from 1,000,000 to 1,400,000 common shares of Goliath through Childress Family LP.

About Mr. Larry Childress

Mr. Childress has a MS Degree in Mining Engineering and started an oil exploration company in 1980 discovering several major oilfields in western Kansas. He has been investing in mineral projects at various stages for over 40 years. Mr. Childress currently owns ~22 million shares of Fireweed Metals and is the second largest shareholder after the Lundin Family. Other major holdings include Filo, WA1 Resources and Hercules Metals. He was the second largest shareholder in Noront Resources when they were taken out by Wyloo at a significant premium to market at ~C$637M.

Offering Details

The non-brokered private placement is a combination of: (i) Charity Flow-Through shares (CFT) to be sold at a price of $1.975 each with no warrant and the Flow-Through shares (FT) to be sold at a price of $1.44 each with no warrant. These shares will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada).

The first tranche closed on September 13, 2024 that consisted of 3,018,000 CFT shares for proceeds of $5,960,550 and 2,501,221 FT shares for proceeds of $3,601,758 for aggregate proceeds of $9,562,308. The final tranche is scheduled to close in October 2024.

The Company intends to use the proceeds for and exploration related programs on its properties located in and around the Golden Triangle of northwestern British Columbia.

Surebet Discovery and Company Highlights:

• Located in a mining friendly jurisdiction within a world class geological setting of the Golden Triangle, B.C. and excellent infrastructure including the town of Kitsault built by Phelps Dodge in the 70's at ~$50 million cost that can house up to 300 people; Camp Goliath - Kitsault (Click Here)

• Next to the old Kitsault Mine, a permitted brownfield mine site on private property, that is located on the BC Hydro grid with road access to the Nass Valley and tidewater access to Prince Rupert.

• The system has exceptional continuity of the gold mineralization that is predictable with our geological team having a strong understanding of the system.

• Drilling thus far shows a majority of the coarser grain visible gold seen up to 11 mm in size is hosted further downhole near or within the volcanics and still above the valley floor; system remains open.

• Deeper drill holes to test near and below the valley floor in 2024 are part of this years program and has intercepted 4 new mineralized horizons 460 meters below the valley floor; gold mineralization remains wide open in all directions for further new discoveries.

• The gold mineralization has excellent metallurgical recoveries of 92.2% Gold from gravity and flotation, including 48.8% free gold from gravity alone at a 327 micron crush; no deleterious minerals or cyanide required.

• The Golddigger property is fully permitted until 2029 for 199 drill pads.

• 66,930 meters have been drilled to date at the Golddigger property (2021 – 2023).

• 44 holes (or 35%) of 124 holes drilled in 2023 contained Visible Gold with nuggets up to 11 mm in size.

• September 3, 2024 News - Highest concentration of visible gold to date in drill core, where 66% of 2024 drill holes contain visible gold and discvoers new deep mineralized zones below the valley floor; remains open.

• 2024 drill program expanded from 15,000 up to 36,000 meters with 8 rigs.

• Best hole drilled to date is GD-23-180 assaying 65.00 g/t AuEq (64.88 g/t Au and 8.03 g/t Ag) over 7.90 meters, including 86.99 g/t AuEq (86.84 g/t Au and 6.52 g/t Ag) over 5.90 meters.

• Mineralization can be seen at surface for 1.0 kilometers of strike and 1.1 kilometers down-dip extent appears to continue below the valley floor with 700 meters of vertical relief that has exceptional continuity.

• 10 gold mineralized vein horizons have been identified to date and remain open.

• The mineralized footprint of the Surebet discovery corresponds to 1.8 km2, the equivalent in size to >336 NFL football fields.

• Strategic cornerstone shareholders include Crescat Capital, Mr. Larry Childress (post current transaction), Mr. Rob McEwen, Mr. Eric Sprott and a Global Commodity Groujp, Singapore.

• Link to our Presentations and Plan View/Cross Sections: Click Here