GNG Golden Goliath Resources Ltd

Golden Goliath Resources Ltd. (TSX VENTURE:GNG)(PINK SHEETS:GGTH-F) is pleased
to announce that ongoing field work at the Las Bolas Silver Gold project,
located within the Company's 100% owned Uruachic Camp property in Chihuahua,
Mexico is making good progress in expanding the zones of known mineralization in
that target area, as well as continuing to reopen and rehabilitate the historic
Papacho mine tunnel.


The field-crew, which includes three geologists (one with extensive underground
mining experience), and a mining engineer, is presently concentrating on
detailed underground mapping and additional infill sampling for the resource
calculation, as well as surface work exploring existing mineralized corridors
such as the Frijolar Structure and the newly discovered Las Bolas II target. A
new, very detailed map of this large multi-target area highlighting the known
mineralized zones is now available at:
http://www.goldengoliath.com/propertiesLasBolas.html.


To date, the known Frijolar accessible workings are approximately 205 m in
length including an upper and lower zone. The upper zone ( Frijolar II ) hosts a
mineralized structure that is exposed for a length of 71 metres. The structure
is 2 metres wide and chip samples across this width average 336 grams
silver/tonne. The lower zone (Frijolar III ) exposes the two metre wide
structure for a length of 35 metres and chip samples across its width average
316 grams silver/tonne. Two surface drill holes completed along the structure
identified as B03-11 and BD-08-24, have returned 327 grams silver/tonne over
15.3 metres and 100 grams silver/tonne over 6.2m respectively.


The company has also just received results of a continuous rock-chip sample
returning 220 grams silver/tonne over 3.2m (including 392gpt silver and 0.12gpt
gold over 1.7 m) of true width from the Frijolar structure surface exposure, 34m
vertically above BD-08-24, indicating a high grade mineralized horizon starting
at the Frijolar III mine level below extending right up to the surface.


The current mapping and sampling program being conducted at Las Bolas tested the
Frijolar structure 600 metres away from the known mineralization by running a
125 m X 125 m soil grid. Of the total 41 samples collected on the grid, 7
samples returned values above 19.1 grams silver/tonne (80th Percentile) , 4
samples returned values above 44.1 grams silver/tonne (90th Percentile), 2
samples returned values above 69.1 grams silver/tonne (95th Percentile) and the
top two samples returned values of 209 grams silver/tonne and 246 grams
silver/tonne. For the same total number of samples above, 7 samples returned
values above 0.11 grams gold/tonne (80th Percentile), 4 samples returned values
above 0.25 grams gold/tonne (90th Percentile), 2 samples returned values above
0.4 grams gold/tonne (95th Percentile) and the top two samples returned values
of 0.54 grams gold/tonne and 1.61 grams gold/tonne respectively. The presence of
old shafts in this area indicates that these surface values are contaminated
from mineralization originally from depth. However, these anomalous silver/gold
values demonstrate the excellent potential for finding additional, high grade
precious metal mineralization along the northeast extension of the Frijolar
Structure. More work is planned for this area in the near future.


In addition to the above results, recent work to the northeast of the main Las
Bolas area has uncovered an important new area with the potential of significant
additional mineralization. This area, located about 1350 metres northeast of the
entrance to the old Las Bolas mine tunnel, hosts strong structural
characteristics and at least four previously worked underground tunnels.  An
important feature of this newly discovered area is that the structure runs in an
east-west direction, which is the dominant mineralization trend in high grade
areas of the Las Bolas workings. The alteration zone in this new area is at
least 12 meters wide exhibiting structures up to 2 meters in width in places,
with rhyolites coming in contact with conglomerates.


Field work is planned to commence shortly in this newly discovered zone as none
of these tunnels have previously been sampled and mapped.  These structures may
very well be part of the Las Bolas-Gambusino mineralized system and, if
confirmed, would likely more than double the effective strike length of the
system. These new prospects could add significantly to the value of the Las
Bolas-Gambusino Gold Silver project, which has already been shown to host a
large number of high grade precious metal discoveries.


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. At this
time Golden Goliath's exploration team is conducting additional infill sampling
and very detailed mapping in the Las Bolas tunnel at the request of the
independent consultant doing the calculation. There have been 134 chip samples
collected to date from two of the mineralized zones of Las Bolas mine (Station
19 and Station 37) and submitted for analysis. Assays should be available soon.


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.

To view an interview with the company President, J. Paul Sorbara, please click
on the following link: http://media3.marketwire.com/r/GNGvideo

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