Mr. Paul Sorbara reports

GOLDEN GOLIATH ANNOUNCES SHARE CONSOLIDATION APPROVAL

Effective Monday, June 5, 2023, the common shares of Golden Goliath Resources Ltd. will commence trading on the TSX Venture Exchange on a consolidated basis of 1 postconsolidation share for every seven preconsolidation shares. The consolidation is subject to exchange approval.

The board of directors believes that the consolidation is necessary to better position the company for future corporate development opportunities and financing transactions. There will be no name change in conjunction with the consolidation and the company will continue to trade under the existing stock symbol GNG.

The company currently has 152,937,019 common shares outstanding and will have approximately 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 adjusted accordingly.

About Golden Goliath Resources Ltd.

Golden Goliath Resources is a junior exploration company listed on the TSX Venture Exchange. The company is focused on exploring and developing the gold and silver potential of properties in the Red Lake district of Ontario.