GNG Golden Goliath Resources Ltd

Golden Goliath Resources Ltd. (TSX VENTURE:GNG)(PINK SHEETS:GGTHF) is pleased to
provide an update of its 2008 exploration projects in Chihuahua, Mexico. Within
the Company's main property package, the Uruachic Mining District, three
projects, San Timoteo, La Reforma and Las Bolas are currently active. These
projects, which are directly operated by the Company, include diamond drilling
on all three areas, underground rehabilitation and sampling on the San Timoteo
and Las Bolas areas and geological mapping, Induced Polarization and Magnetic
geophysical surveys in preparation for drilling on the San Timoteo II claim. The
Company is well financed, with over $4.3 million currently in the treasury, and
expects to be active on these projects throughout the year. A separate press
release with updated details of the drilling will be released shortly.


Apart from the projects being run directly by the Company, two other exploration
programs are underway on properties that are currently under option to other
companies.


Golden Goliath's La Cruz property is currently under option to Pan American
Silver's Mexican subsidiary, Minera Corner Bay S.A. de C.V. Under the terms of
the option agreement Minera Corner Bay has the right to earn a 60% interest in
La Cruz by making cash payments totaling US $300,000 and spending US $450,000 on
the property over a period of 3 years. 


The La Cruz property is located in Chihuahua State, on the very eastern edge of
the Sierra Madre Occidental mountain range. La Cruz has extensive old
underground mine workings and large old dumps that attest to substantial past
activity. The mine workings have been inactive for at least 75 years and there
is no record of any exploration drilling having ever been done.


Pan American Silver has given Golden Goliath an exploration summary for the La
Cruz project dated April 1/08. The work done to date includes rehabilitation of
the access and old mine roads and 1:2,000 scale surface geological mapping.
Survey grid lines have been established and surface samples collected along them
at 25 metre intervals. The main La Cruz mine workings have been rehabilitated
and mapped at a scale of 1:500. Systematic underground sampling has been done
every 3 metres perpendicular to the main structure, resulting in the collection
of 194 samples from inside the mine. A Natural Source-Frequency Magneto telluric
Imaging survey has also been conducted, with its final report still pending.


In addition, pads have been prepared for an initial planned diamond drill
program of 8 holes totaling approximately 2,000 metres of HQ diameter coring.
They are currently waiting for geophysical results, doing additional surface
work and are waiting for the drill crew which is expected in four to six weeks.


Golden Goliath is pleased with the progress to date on La Cruz and is happy to
have a very successful and competent partner on this project. Having Pan
American Silver and Minera Corner Bay conducting the exploration at La Cruz
allows Golden Goliath to focus its efforts on the main portion of the Uruachic
Camp. 


Golden Goliath has also entered into an option agreement with Comstock capital
on the Company's Corona and Chamizal properties. Under the terms of the
agreement Comstock Capital has the right to earn a 60% interest in the Corona
property, which lies in the northwest corner of the Uruachic mining camp in
Chihuahua's Sierra Madre Occidental mountain range. Comstock Capital has been
conducting exploration work on the Corona property since last summer. They are
very pleased with the results of their initial work program and have now
completed its 43-101 report which it is preparing to file with the Exchange.
Details of the results will be disclosed once the 43-101 report has been filed.


About Golden Goliath

Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX
Venture Exchange (symbol GNG). The Company is focused on exploring and
developing the gold and silver potential of an historic mining camp located in
the world famous Sierra Madre Occidental Mountains of northwestern Mexico.
Unlike most juniors, which have an option to earn an interest in a single
property or a few scattered properties in various areas or countries, Golden
Goliath controls an entire old mining camp, or district, that covers an area of
15 by 25 kilometres, with numerous past producing gold and silver mines dating
back to the time of the Spaniards. Golden Goliath's Uruachic claims are owned
100% by the Company and are fully paid for with no property option or purchase
payments to make. To find out more about Golden Goliath visit
www.goldengoliath.com.


ON BEHALF OF GOLDEN GOLIATH RESOURCES LTD.

J. Paul Sorbara, M.Sc., P.Geo., President

Golden Goliath Resources (TSXV:GNG)
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Golden Goliath Resources (TSXV:GNG)
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From Jan 2024 to Jan 2025