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Goliath Resources Mobilizes For A Fully Funded 50,000 Meter Expansion Drill Program On Surebet Discovery, Golden Triangle, B.C.

  • The fully funded 2026 drill program will include approximately 50,000 meters of systematic drilling designed to expand the known mineralization laterally and to depth in order to test the extent of the Surebet discovery as well as the potential location of the Motherlode Feeder Source. The system remains open in multiple directions.
  • Expansion drilling will focus on extending the footprint of the Bonanza Zone and Golden Gate Zone to the East, Northeast and Southwest as well as expanding the Surebet Zone to the West and testing other gold-rich mineralized lodes/veins that remain open, based on the surface expression of the zones observed in outcrop:

  • Additional drilling will be allocated to test a magnetic anomaly in the southwestern part of the system which is spatially associated with lithological and structural datasets and strongly indicates the presence of a Motherlode causative magmatic intrusion gold feeder source.

TORONTO, May 27, 2026 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report that it has mobilized for its 2026 drill campaign at the Surebet discovery on its 100% owned Golddigger Property (the “Property”), Golden Triangle, British Columbia. The fully funded drill program will include approximately 50,000 meters of systematic drilling designed to expand the known mineralization laterally and to depth (all mineralized lodes remain open for expansion and new discoveries), as well as test for the Motherlode Magmatic Gold Feeder Source.

Expansion drilling will focus on extending the footprint of the Bonanza Zone and Golden Gate Zone to the East, Northeast and Southwest, as well as expanding the Surebet Zone to the West and testing other gold-rich mineralized lodes/veins that remain open. Additional drilling will be allocated to testing a number of lithological-structural features linked to magnetic anomalies strongly indicating the presence of a Motherlode causative magmatic intrusion gold feeder source.

Every drill hole completed to date (2021 – 2025) within the 1.8 km2 Surebet discovery has successfully intersected gold mineralization. These results confirm predictable continuity, grade, and width across 5 gold-rich zones comprised of 46 distinct stacked lodes/veins, all of which remain open for expansion. Visible gold to the naked eye (VG-NE) is found in 92% of the drill holes to date at the Surebet Discovery, in three distinct rock packages, with the VG-NE (please see the VG-NE heatmap) widespread in the majority of the known lodes/veins. The remarkable continuity, widths and grades encountered across multiple lodes (please see the image of the modelled lodes/veins) underscore the significance of this large gold system which has strong potential to become one of the most significant gold discoveries in British Columbia’s Golden Triangle in many years. Success to date has effectively vectored toward several open targets, providing a strong foundation for further expansion in the 2026 drilling campaign.

Mr. Roger Rosmus, Founder & CEO of Goliath states: “Our team is convinced that we have a unique high-grade gold discovery that is highlighted by 46 gold-rich stacked gently dipping lodes/veins resulting in 5 major mineralized zones defined and modelled based on >1500 pierce points. A good analogy to the tightly packed stacked gently dipping lodes/veins is the Pogo Mine in Alaska. At Surebet, the stacked lodes/veins have been intersected by drilling throughout the sediments and volcanics in three distinct rock packages that include: (1) the gold-rich veins/breccias in the sedimentary units, (2) gold-rich veins in the volcanic units, and (3) gold-rich intermediate to felsic Eocene-aged vertical dykes. To find VG-NE in three distinct rock packages we believe is representative of a high-energy gold mineralizing system. It is rare to find gold mineralization in 100% of the drill holes. It is even more rare to see 92% of the holes containing VG-NE. This puts the Surebet discovery in a unique category. We are proud to work with a talented team at the Colorado School of Mines, where they have done extensive age dating and temperature analysis of the Surebet Discovery. It is remarkable that considering we have drilled 156,000 meters to date we still have unanswered questions within the wide open Surebet discovery, which highlights the scale and importance of this mineralized system and how big is it. We intend to drill test the lateral extensions of the southeast and southwest gently dipping stacked lodes/veins, as well as test for the Motherlode feeder source in our 2026 drilling campaign. The last great high-grade gold discovery in the Golden Triangle that resulted in a producing mine is the Brucejack project, which is now one of Newmont’s highly-rated gold mines. Our team believes that based on the geological characteristics mentioned above (and throughout this news release), we are on track to have the next one.”

Surebet Discovery Highlights

  • 100% of the drill holes completed to date within the 1.8 km2 Surebet discovery have intersected gold mineralization clearly demonstrating remarkable continuity, grades, and widths with of over 1,500 drill hole pierce points.
  • The updated geological model incorporating all currently available data identifies 5 primary mineralized gold-rich zones: Bonanza, Surebet, Golden Gate, Whopper, and Eldorado. Collectively these zones comprise 46 gold-rich stacked lodes/veins and associated vertical Eocene-aged dykes.
Zone Number of lodes/veins Dimensions Key Intercept Status
Bonanza 5 1.8 km x 1.3 km x 19 m 8.35 g/t AuEq over 23 m Remains Open
Surebet 9 1.2 km x 1.0 km x 19 m 21.08 g/t AuEq over 23 m Remains Open
Golden Gate 18 1.3 km x 1.0 km x 14 m 34.52 g/t AuEq over 39 m Remains Open
Whopper 12 1.0 km x 1.0 km x 6 m 32.67 g/t AuEq over 4 m Remains Open
Eldorado 2 1.0 km x 900 m x 5 m 13.93 g/t AuEq over 5.75 m Remains Open
Gold-rich dykes   1.4 km x 890 m x 25 m 12.03 g/t AuEq over 10 m Remains Open


An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/5d094bcc-dd43-4bc6-b217-0d55def6025b

  • The Bonanza Zone has a strike of 1.8 km NW-SE and 1.3 km NE-SW containing 5 lodes up to 19 meters thick with a combined thickness of up to 27 meters and intercepts up to 8.35 g/t AuEq (8.31 g/t Au and 2.30 g/t Ag) over 23.00 meters (drill hole GD-24-280) and remains open for expansion (plan & lateral view - drill hole pierce points, see images below).
  • The Surebet Zone has a strike of 1.3 km NW-SE and 1.1 km NE-SW containing 9 lodes up to 19 meters thick with a combined thickness of up to 30 meters and intercepts up to 21.08 g/t AuEq (18.95 g/t Au and 95.31 g/t Ag) over 23.00 meters (drill hole GD-23-157) and remains open for expansion to the SW (plan & lateral view - drill hole pierce points, see images below).
  • The Golden Gate Zone has a strike of 1.6 km E-W and 1.0 km N-S containing 18 lodes up to 14 meters with a combined thickness of up to 49 meters and with intercepts up to 34.52 g/t AuEq (34.47 g/t Au and 3.96 g/t Ag) over 39.00 meters (drill hole GD-24-260) and remains open for expansion (plan & lateral view - drill hole pierce points, see images below).
  • The Whopper Zone has a strike of 1.0 km N-S and 1 km E-W containing 12 lodes up to 6 meters thick with a combined thickness of up to 30 meters and intercepts up to 32.67 g/t AuEq (32.56 g/t Au and 8.92 g/t Ag) over 4.00 meters (drill hole GD-24-262) and remains open for expansion (plan & lateral view - drill hole pierce points, see images below).
  • The Eldorado Zone has a strike of 1.0 km E-W and 900 meters N-S containing 2 lodes up to 5 meters thick with a combined thickness of up to 7 meters and intercepts up to 13.93 g/t AuEq (13.38 g/t Au and 23.43 g/t Ag) over 5.75 meters (drill hole GD-25-332) and remains open for expansion (plan & lateral view - drill hole pierce points, see images below).
  • The gold-rich Eocene-aged dykes extend for up to 1.4 km N-S and a vertical relief of up to 890 meters with widths up to 25 meters and intercepts up to 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters (drill hole GD-22-58) and remain open for expansion.
  • 355 out of 386 drill holes representing 92% of holes drilled to date (2021 – 2025) at Surebet contain gold visible to the VG-NE (see image below).
  • High-grade gold has been identified in three distinct rock packages identified to date at the Surebet Discovery. This includes the gold-rich stacked quartz-sulphide breccias and stockwork veins hosted in the sedimentary units; the precious and base metals bearing veins hosted in the volcanic units; and the gold-rich intermediate to felsic Eocene-aged dykes. All mineralized rock types contain substantial amounts of VG-NE (from fine-grained to coarse-grained gold) and remain open for expansion.
  • Metallurgical testing conducted on a composite core sample resulted in remarkable recoveries through a combination of simple gravity and flotation of 92.2% for Au, 86.5% for Ag, 94.2% for Pb and 96.9% for Zn. Recoveries through simple and cost-effective gravity alone amount to 48.8% Au and 10.3% Ag with a crush size of 327 micrometer (no cyanide leaching required to recover the gold and silver). The metallurgy completed to date shows a benign rock composition without deleterious elements (see news release March 1, 2023).
  • The remarkable continuity, widths and grades demonstrated by >156,000 meters of drilling in multiple lodes shows this extensive 1.8 km2 gold system continues to demonstrate strong potential to become one of the most significant gold discoveries in British Columbia’s Golden Triangle in many years.
  • 92% of the holes (355 out of 386) drilled to date at Surebet contain VG-NE (see VG-NE heat map above) and 100% of holes drilled to date at the Surebet Discovery have intersected substantial quartz-sulphide mineralization. See news releases dated: July 7, 2025, June 23, 2025, January 7, 2025, January 13, 2025, February 10, 2025, February 18, 2025, February 27, 2025, December 12, 2024, July 30, 2024, January 20, 2026, December 2, 2025, November 17, 2025, October 27, 2025, September 22, 2025, September 8, 2025, August 26, 2025, and July 28, 2025.
  • The best hole drilled to date from the gold-rich stacked quartz-sulphide breccias and stockwork veins hosted in the sedimentary units is GD-23-157 that assayed 21.08 g/t AuEq (18.95 g/t Au and 95.31 g/t Ag) over 23.00 meters, including 33.75 g/t AuEq (30.39 g/t Au and 150.42 g/t Ag) over 14.00 meters, including 50.27 g/t AuEq (45.27 g/t Au and 225.42 g/t Ag) over 9.00 meters (see news release dated August 15, 2023). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below.
  • The best hole drilled to date from the precious and base metals bearing veins hosted in the volcanic units is GD-24-260 from the Golden Gate Zone that assayed 34.52 g/t AuEq (34.47 Au and 3.96 Ag) over 39.00 meters, including 132.93 g/t AuEq (132.78 Au and 12.98 Ag) over 10.00 meters, and 166.04 g/t AuEq (165.84 Au and 16.07 Ag) over 8.00 meters (see news release dated January 13, 2025). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below.
  • The best hole drilled to date from the Eocene-aged dykes is GD-22-58 that assayed 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters including 19.91 g/t AuEq (19.62 g/t Au and 25.61 g/t Ag) over 6.00 meters, including 23.82 g/t AuEq (23.47 g/t Au and 30.54 g/t Ag) over 5.00 meters, plus a second separate interval down hole of 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters (see news release dated March 13, 2025). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below.
  • Thanks to the mountainous topography, mineralization in the veins is exposed on the surface for 2.1 km of strike (1.0 km on the south slope and 1.1 km on the north slope) with a vertical relief of 700 meters.
  • A study completed by the Colorado School of Mines confirms a new interpretation of the ore forming process of high-grade gold mineralization at Surebet and outlines a common magmatic source for the high-grade gold system in three distinct rock packages. This gives the Surebet untapped discovery potential to increase tonnage and gold content in the various known rock packages. Until this study, researchers and explorers in the Golden Triangle had not recognized the high-grade gold discovery potential in the Eocene-aged dykes (see news release March 13, 2025), which is showing the potential that these discoveries could be a geological breakthrough in the Golden Triangle of British Columbia.
  • Based on positive grassroots exploration and drill results in recent years, Goliath significantly increased its land package from 66,608 hectares to 91,518 hectares (226,146 acres) and now controls 56 kilometers of key terrain of the Red Line geologic trend providing for additional discovery potential.
  • The Golddigger Property is located on tidewater with a barge route to Prince Rupert (190 km south) and close to infrastructure including the town of Kitsault adjacent to a permitted mine site on private property.

About Golddigger Property

The Golddigger Property is 100% owned and covers an area of 91,518 hectares in a highly prospective geological setting of the Eskay Rift, within 3 kilometers 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 kilometers 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-micrometer crush of 92.2% including 48.8% 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 kilometers via the Observatory inlet/Portland inlet). The town of Kitsault is accessible by road (190 kilometers from Terrace, 300 kilometers 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 7 kilometers to the East of the Surebet discovery) with direct road access to Alice Arm barge landing (18 kilometers to the south of the Surebet discovery) and high-tension power (25 kilometers 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, etc.), 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.

Qualified Person

Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath Resources Limited 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.

Option Grant

The Company has granted a total of 3,200,000 stock options for a five-year period to officers and directors of the Company priced at $1.63 per share which will vest immediately. The grant of the options is subject to Goliath’s omnibus equity incentive plan.

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 centers 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 is acquired and used across the mining value chain. The center 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.

About Goliath Resources Limited

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. In 2025, Goliath completed its largest drill campaign to date for a total of 64,364 meters. It is fully funded for a similar sized 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.

For more information please contact:

Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1.416.488.2887
roger@goliathresources.com
www.goliathresourcesltd.com

Disclaimer

The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.

QA/QC Protocol

Oriented HQ-diameter or NQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX DepositTM. Drill holes were planned using Leapfrog GeoTM and QGISTM software and data from the 2017-2025 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration is selectively sampled in lengths of 0.5 to 1.5 meters. Samples are selected from continuous intervals of mineralization and/or other relevant geological features, including shoulder samples that extend for 3 meters into adjacent unmineralized and/or unaltered country rock. Along barren core intervals devoid of mineralization or significant geological features, one 1 meter sample is collected every ten meters. Core samples are cut lengthwise in half: one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. The bagged samples are then weighed and secured with a zip tie. Certified reference materials (CRMs), blanks and duplicates are added in the sample stream at a rate of 10%. To ensure analytical anonymity, CRM identification labels are removed prior to submission to the laboratory. Additional out-of-sequence blanks are introduced immediately following core samples that contain visible gold to the naked eye (VG-NE) or visibly high-grade sulphide mineralization.

Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate samples weighing anywhere between 0.5 and 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample site locations were recorded using handheld GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples are then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, certified reference materials, and duplicate samples are inserted regularly into the sample sequence at a rate of 10%.

All samples are transported in rice bags sealed with numbered security tags. The rice bags are transported from the core shacks to the MSALABS facilities in Terrace, BC. MSALABS is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. The core samples undergo preparation via drying, crushing to ~70% of the material passing a 2 mm sieve and riffle splitting. The sample splits are weighed and transferred into plastic jars, each containing between 300 g and 500 g of crushed sample material. A 250 g split is pulverized to ensure at least 85% of the material passes through a 75 µm sieve. The crushed samples are transported to the MSALABS PhotonAssayTM facility in Prince George, where gold concentrations are quantified via photon assay analysis (method CPA-Au1). Samples that result in gold concentrations ≥5 ppm are analyzed to extinction. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, inducing the emission of secondary gamma rays, which are measured to quantify gold concentrations. The assays from all jars are combined on a weight-averaged basis. Multielement analyses are carried out at the MSALABS facilities in Surrey, BC, where 250 g of pulverized splits are analyzed via IMS-230 and ICF6xx methods. The IMS-230 method uses 4-acid digestion (a combination of hydrochloric, nitric, perchloric and hydrofluoric acids) followed by inductively coupled plasma emission spectrometry to quantify concentrations of 48 elements. Samples with over-limit results for Ag, Cu, Pb and Zn undergo ore-grade analysis via the ICF-6xx method (where ‘xx’ denotes the target metal). This method employs 4-acid digestion followed by inductively coupled plasma emission spectrometry.

Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and Gold Equivalent (AuEq) metal values are calculated using: 4,932.69 Au USD/oz, Ag 84.916 USD/oz, Cu 6.07 USD/lbs, Pb 1,964.45 USD/ton and Zn 3,328.50 USD/ton (updated on February 3, 2026). The widths of the mineralized intervals reported in this news release were defined to reflect both the assay results and the mineralized veining observed in drill core. Veining constrains the local width of the mineralized zone, while assay results define the grade distribution within that zone. Reported intervals are therefore intended to represent geologically meaningful zone widths at the point of intersection.

There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences based on other mining and exploration projects in the same Golden Triangle Mining Camp where Goliath’s project is located, such as the Homestake Ridge Gold Project (Auryn Resources Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project, prepared by Minefill Services Inc. Bothell, Washington, dated May 29, 2020). Here, AuEq values were calculated using 3-year running averages for metal price, and included provisions for metallurgical recoveries, treatment charges, refining costs, and transportation. Recoveries for Gold were 85.5%, Silver at 74.6%, Copper at 74.6% and Lead at 45.3%. It will be assumed that Zinc can be recovered with Copper at the same recovery rate of 74.6%. The quoted reference of metallurgical recoveries is not from Goliath’s Golddigger Project, Surebet Zone mineralization, and there is no guarantee that such recoveries will ever be achieved, unless detailed metallurgical work such as in a Feasibility Study can be eventually completed on the Golddigger Project.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of the Company to complete financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.

The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.


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