GNG Golden Goliath Resources Ltd

Golden Goliath Resources Ltd. (TSX VENTURE:GNG)(PINK SHEETS:GGTH-F) - 

The Company announces an amendment to a private placement previously announced
October 5, 2009. The total number of units is increased from 20,000,000 to
25,000,000 units at a price of $0.15 per unit. Each unit will consist of one
common share and one half of one share purchase with each whole warrant
entitling the holder to purchase one additional common share for a period of two
years at a price of $0.25. Once resale restrictions on the Shares having expired
and upon Golden Goliath's shares trading at or above a weighted average trading
price of $0.40 for 20 consecutive trading days, Golden Goliath may give notice
that the Warrants will expire 30 days from the date of providing such notice (in
writing to Warrant holders and via a news release). The proceeds will be
primarily used to expand the mineral resource at the Company's Las Bolas
property and to work on the new Filo do Oro zone on the east side of the Las
Bolas property. The exploration program is being designed to expand the existing
inferred resource and test the potential target. The program will include
underground development, surface and underground drilling and continued
rehabilitation of old underground workings.


In addition, a portion of the proceeds of the financing will be earmarked for
working capital and to continue advancing the mineral potential of various other
targets within the Company's extensive claim holdings covering the historic
Uruachic mining camp in the Sierra Madre mountain range of northwestern Mexico.


The financing is subject to regulatory approval. Finders' fees of 8% cash and 8%
warrants having the same terms as the warrants under the Units may be paid.


About Golden Goliath

Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX
Venture Exchange (symbol GNG). 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. 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 our website at www.goldengoliath.com.

Golden Goliath Resources (TSXV:GNG)
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