Mr. Paul Sorbara reports

GOLDEN GOLIATH ANNOUNCES SHARE CONSOLIDATION

Golden Goliath Resources Ltd.'s board of directors has approved a consolidation of the company's issued share capital on the basis of one new share for every seven common shares of the company. The company currently has 152,937,019 common shares outstanding and will have 21,848,145 common shares outstanding after completion of the consolidation, subject to rounding and the elimination of any fractional shares resulting from the consolidation. The number of outstanding stock options and warrants of the company will similarly be adjusted by the consolidation ratio, and the exercise prices will be adjusted accordingly.

The consolidation is being implemented in order to provide the company with increased flexibility to seek additional financing opportunities. The consolidation is subject to exchange approval. The company will continue to trade after the consolidation under the name Golden Goliath Resources Ltd. If the consolidation is approved by the exchange, the company will disseminate a further news release, which will set out the effective date for the consolidation.

Upon completion of the consolidation, a letter of transmittal will be sent by mail to registered shareholders advising that the consolidation has taken effect. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates or DRS (direct registration system) statements evidencing their preconsolidated common shares for new share certificates or new DRS statements representing the number of postconsolidated common shares to which they are entitled. No action is required by non-registered shareholders (shareholders who hold their shares through an intermediary) to effect the consolidation. The common shares are expected to begin trading on the exchange on a postconsolidation basis, after the exchange issues its final bulletin advising of the effective date of the consolidation.

About Golden Goliath Resources Ltd.

Golden Goliath Resources 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 properties in the Red Lake district of Ontario. The company also holds a 100-per-cent interest in the San Timoteo property, located in the Sierra Madre Occidental Mountains of northwestern Mexico, as well as NSR (net smelter return) royalties on several other nearby properties.