GNG Golden Goliath Resources Ltd

Golden Goliath Resources Ltd. (TSX VENTURE:GNG)(PINK SHEETS:GGTH-F) is pleased
to announce that field work is continuing at the Las Bolas project area located
within the Company's Uruachic Camp, Mexico with work underway to open the old
Papacho mine tunnel. The Papacho mine tunnel is located approximately 100 metres
southwest of the Arbolito shaft which is in the area of some of the highest
grade silver and gold mineralization found to date on the property. A polybasite
rich sulfide grab sample from the Arbolito shaft dump assayed 71,817 grams
silver/tonne (2,083 ounces/ton) demonstrating the high grade potential at depth.
Previous drilling near the Arbolito shaft returned a 12.3 metre section grading
154 grams silver/tonne and 3.22 grams gold/tonne at the bottom of the hole,
which had to be abandoned for technical reasons and therefore did not reach
target depth. The Papacho tunnel, which requires cat work and safety
rehabilitation, trends in the direction of these high grade samples and may
allow the Company better access to a high priority target zone which has proven
difficult to access from above ground drilling programs conducted in the past. A
grab sample taken from the entrance area has returned 908 grams silver/tonne.
The detailed sampling and mapping that will be conducted when the tunnel is safe
may yield important information and assays for the planning of the next phase of
drilling.


Uruachic Camp Exploration Update - Las Bolas II

Surface mapping and sampling is also continuing in other parts of the Las Bolas
property, including the recently identified Las Bolas II area, located several
hundred metres north of the main working area. The host rock, andesitic breccia,
and mineralization found in this area looks to be highly analogous in geology to
that found in the Las Bolas-Gambusino area. To date, mapping has shown the zone
to be over 300 m in length and open in both directions. Field work is currently
continuing in order to obtain a better understanding of its size potential.
Preliminary grab samples of the mineralized structures have returned assays of
up to 23 grams silver/tonne and 0.13 grams gold/tonne.


The mapping and sampling program is also focused on the area west of the manto
style mineralization intersected in several drill holes. These intersections
included 366 grams silver/tonne with 1.2 grams gold/tonne over 1.9 metres, 101
grams silver/tonne with 0.28 grams gold/tonne over 3.6 metres and 222 grams
silver/tonne with 0.47 grams gold/tonne over 3.23 metres. This mineralization is
stratigraphically and topographically lower than that found in the Gambusino
mine area, which is about 600 metres to the east, up the hill from the Rio
Uruachic. Analysis from the recent drill hole data gives a vector indicating
higher grades and thicknesses to the west and southwest, across the creek
opposite the old El Manto mine. Preliminary work on the west side returned a 0.9
m chip sample grading 99 grams silver/tonne with 0.918 grams gold/tonne and a
grab sample of 36 grams silver/tonne with 0.02 grams gold/tonne in areas of
sericite and quartz-tourmaline alteration. Extending the drill road across the
shallow Rio Uruachic will not be a problem and drilling is planned for this area
during the next work program.


The Company is currently focusing on detailed mapping and exploration to find
the extent of newly discovered areas, and to better understand genetic
relationships between these higher grading zones. Detailed structural mapping
leads the Company to believe that a series of en-echelon faults underlying the
Las Bolas property area are genetically related to the silver and gold
mineralization found throughout the property. These structures interconnect the
main Las Bolas-Gambusino oxide mineralization, the El Manto sulfide
mineralization and the Las Bolas II area oxide mineralization, indicating a
possible large, mutual source nearby. The Company is very pleased with this
work.


NI 43-101 Mineral Inventory Estimation Update

As previously reported, the Company is proceeding with its work to complete and
publish a mineral inventory of select exploration targets within its 100% owned
Uruachic Camp prospect area. The mineral inventory estimation will take place,
upon review of the existing data, under the supervision of an independent
qualified person and will be conducted pursuant to NI 43-101 standards. The
Company is of the belief that there are presently enough data points collected
for the resource estimation study through the drilling and underground sampling
programs completed to date. At this time Golden Goliath's technical team is
preparing all the necessary data, level plan, cross sections and longitudinal
sections for the study. The study will also greatly assist the Company in
developing its next drill program by defining target areas which can most easily
add tonnage to the mineralization.


Both Las Bolas and San Timoteo are priority target zones within the Company's
district sized Uruachic Camp (a 15 km x 25 km region) which surrounds the
historic mining village of Uruachic in the mineral rich Sierra Madre mountains
of Chihuahua, Mexico.


About Golden Goliath

Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX
Venture Exchange (symbol GNG). Assays are done using traditional methods at
Inspectorate Labs and Chemex Labs. The Qualified Person for the Uruachic project
is J. Paul Sorbara M.Sc., P.Geo. 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.


Forward Looking Statements

The statements made in this news release may contain forward-looking statements
that may involve a number of risks and uncertainties. Actual events or results
could differ materially from the Company's expectations and projections.


To find out more about Golden Goliath visit www.goldengoliath.com.

Golden Goliath Resources (TSXV:GNG)
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